HIVE Digital Technologies reports strong quarter with $17.3M adjusted EBITDA, while growing its Bitcoin holdings to 2,805 BTC.
The company is aiming to increase hashrate from 6 EH/s to 25 EH/s by September 2025.
The
publicly listed Wall Street Bitcoin (BTC) miner HIVE Digital Technologies (NASDAQ:
HIVE) reported fourth-quarter revenue of $29.2 million and adjusted EBITDA of
$17.3 million. While the numbers are slightly lower than in the same period a
year ago, the company significantly expanded its Bitcoin holdings to 2,805
tokens valued at $260.8 million.
HIVE Digital’s Bitcoin
Holdings Surge Past $260 Million
The
cryptocurrency mining company posted a net income of $1.3 million for the
quarter ended December 31, 2024, marking an improvement from a $7.0 million
loss in the same period last year. The company's digital currency mining
operations generated $26.7 million in revenue, while its growing
high-performance computing (HPC) segment contributed $2.5 million.
Frank Holmes, Executive Chairman of HIVE
“We ended calendar year 2024 with a record
Bitcoin HODL of 2,805 Bitcoin valued at over $260 million,” Frank Holmes,
HIVE’s Executive Chairman, stated. “This represents a 263% year-over-year
increase from $72 million of Bitcoin on our balance sheet at the end of
December 2023.”
“We
achieved this while keeping shareholder dilution among the lowest in the
industry, with our total shares outstanding increasing only 51% over the same
period to fund our growth.”
Despite
facing significantly higher network difficulty, the company has maintained
strong production levels while improving its infrastructure. HIVE’s hashrate
has grown from 4.01 EH/s in 2023 to 6.0 EH/s by the end of 2024.
The company also reported its January Bitcoin productions a week ago, mining 102 BTC.
25 EH/s by September 2025 for Wall Street Bitcoin Miner
HIVE's HPC
business is also showing growth, achieving a $10 million annualized run rate.
The company expects this segment to reach $20 million in run-rate revenue by
the second quarter of 2025, driven by its NVIDIA H100 and H200 clusters
deployment for AI model training services.
"Looking ahead to calendar 2025, we are excited
to execute on a transformative year with a target to position HIVE as one the
largest Bitcoin miners in the world,” Aydin Kilic, President & CEO, stated.
“Our 300 MW expansion in Paraguay has an objective to drive a 4x increase in
our hashrate from 6 EH/s to 25 EH/s by September, 2025.”
The company
also maintained relatively low general and administrative expenses of $4.6
million, slightly up from $3.7 million in the previous year. HIVE's financial
position remains strong, with $270.7 million in combined cash and digital
currencies at quarter-end.
The
publicly listed Wall Street Bitcoin (BTC) miner HIVE Digital Technologies (NASDAQ:
HIVE) reported fourth-quarter revenue of $29.2 million and adjusted EBITDA of
$17.3 million. While the numbers are slightly lower than in the same period a
year ago, the company significantly expanded its Bitcoin holdings to 2,805
tokens valued at $260.8 million.
HIVE Digital’s Bitcoin
Holdings Surge Past $260 Million
The
cryptocurrency mining company posted a net income of $1.3 million for the
quarter ended December 31, 2024, marking an improvement from a $7.0 million
loss in the same period last year. The company's digital currency mining
operations generated $26.7 million in revenue, while its growing
high-performance computing (HPC) segment contributed $2.5 million.
Frank Holmes, Executive Chairman of HIVE
“We ended calendar year 2024 with a record
Bitcoin HODL of 2,805 Bitcoin valued at over $260 million,” Frank Holmes,
HIVE’s Executive Chairman, stated. “This represents a 263% year-over-year
increase from $72 million of Bitcoin on our balance sheet at the end of
December 2023.”
“We
achieved this while keeping shareholder dilution among the lowest in the
industry, with our total shares outstanding increasing only 51% over the same
period to fund our growth.”
Despite
facing significantly higher network difficulty, the company has maintained
strong production levels while improving its infrastructure. HIVE’s hashrate
has grown from 4.01 EH/s in 2023 to 6.0 EH/s by the end of 2024.
The company also reported its January Bitcoin productions a week ago, mining 102 BTC.
25 EH/s by September 2025 for Wall Street Bitcoin Miner
HIVE's HPC
business is also showing growth, achieving a $10 million annualized run rate.
The company expects this segment to reach $20 million in run-rate revenue by
the second quarter of 2025, driven by its NVIDIA H100 and H200 clusters
deployment for AI model training services.
"Looking ahead to calendar 2025, we are excited
to execute on a transformative year with a target to position HIVE as one the
largest Bitcoin miners in the world,” Aydin Kilic, President & CEO, stated.
“Our 300 MW expansion in Paraguay has an objective to drive a 4x increase in
our hashrate from 6 EH/s to 25 EH/s by September, 2025.”
The company
also maintained relatively low general and administrative expenses of $4.6
million, slightly up from $3.7 million in the previous year. HIVE's financial
position remains strong, with $270.7 million in combined cash and digital
currencies at quarter-end.
Damian Chmiel is a Senior Analyst & Editor at Finance Magnates with more than 15 years of experience in the CFD and online trading industry. Active as both a trader and journalist since 2010, he focuses on broker coverage, fintech innovation, and regulatory developments across Europe, the Middle East, and Asia.
His work includes interviews with C-level leaders at major brokerages and fintech platforms, as well as co-authoring Finance Magnates’ quarterly industry benchmarking reports. Damian’s reporting is data-driven, market-aware, and grounded in direct industry engagement. His analysis and commentary have also been cited by external media outlets, including Investing.com, Binance, The Asset, Stockhead, and Dispatch.
Education:
MA in Finance and Accounting, Cracow University of Economics
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