Hive Blockchain Technologies Ltd (TSE:HIVE) has released an update.
HIVE Digital Technologies Ltd. reports a significant quarter with $31.3 million in revenue and a 146% increase in Gross Operating Margin to $11.3 million, mining 830 Bitcoin. The company also highlights a 5% year-over-year increase in Bitcoin production and a growing GPU-powered AI business unit, which has seen a 5x revenue growth in 2023. Despite increased competition and production costs, HIVE continues to expand its hashrate and prepares for the upcoming Bitcoin Halving in April 2024.
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