Overview
Data center infrastructure provide HIVE Digital Q2 rev rises 285% yr/yr to $87.3 mln, driven by Bitcoin mining, HPC
Company reports GAAP net loss of $15.8 mln due to accelerated ASICs depreciation
HIVE achieved 25 EH/s operational hashrate, completes 300 MW capacity in Paraguay
Outlook
HIVE Digital Technologies did not provide specific future guidance in press release
Result Drivers
BITCOIN MINING EXPANSION - Co attributes revenue growth to rapid scale-out of Bitcoin mining fleet to 16.2 EH/s by end of Q2
HPC DEMAND - Increased demand for BUZZ HPC services contributed to revenue growth
INFRASTRUCTURE EXPANSION - Completed 300 MW of new capacity in Paraguay, supporting operational growth
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | $87.3 mln | ||
Q2 Adjusted EBITDA | $31.5 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
Wall Street's median 12-month price target for HIVE Digital Technologies Ltd is $8.75, about 62.2% above its November 14 closing price of $3.31
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 19 three months ago
Press Release: ID:nNFC9LB66J
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)