Hive Blockchain Posts Record Revenue in Q2 on Higher Crypto Prices

Posted on by American Coins & Gold

Hive Blockchain Posts Record Revenue in Q2 on Higher Crypto Prices
Canadian crypto miner Hive Blockchain reported record revenue of $52.6 million in its fiscal second quarter, up 305% from the same period last year, according to a statement.The company said the increase in revenue was mainly due to a rise in cryptocurrency prices, the increased production of Bitcoin as a result of its purchase of Quebec and Atlantic facilities and the acquisition of miners for those facilities.The gross mining margin was 86% in the fiscal second quarter, compared to 71% in the same period last year.Second-quarter earnings per share rose 433%, to 16c versus 3c last year, mainly due to…