Transformative Year for HIVE
HIVE experienced a transformative year with significant expansion and growth, doubling its high-performance computing business using NVIDIA chips and surpassing 11 exahash in Bitcoin mining, up from less than 4 exahash a year ago.
Acquisitions and Strategic Expansion
HIVE acquired a major data center in Toronto, expanded in Paraguay, and acquired Bitfarms assets, positioning itself to double its hash rate by American Thanksgiving and potentially reach $400 million in revenue at Bitcoin's $100,000 price point.
HPC and AI Business Growth
HIVE's HPC AI business is positioned for significant growth, with plans to scale from a $20 million annual run rate to $100 million. The acquisition of a 7.2-megawatt Toronto data center will help expand this segment.
Strong Financial Metrics
HIVE reported $115 million in revenue and $56 million in adjusted EBITDA, with a market cap of $350 million. The company holds over $60 million in Bitcoin on the balance sheet and achieved 22% ROIC over the last 12 months.
Sustainable and Community-Focused Projects
HIVE has been involved in community projects such as electrifying schools and lighting up streets in Paraguay, aligning with its strategy to integrate with local communities.