Share this article
Hive Blockchain Posts Record Revenue in Q2 on Higher Crypto Prices
The crypto miner’s fiscal Q2 earnings per share rose 433% from the same quarter last year.
By Aoyon Ashraf
Updated May 11, 2023, 7:06 p.m. Published Nov 16, 2021, 1:32 p.m.
Canadian crypto miner Hive Blockchain reported record revenue of US$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 Hive’s 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 16 cents (U.S.) versus 3 cents last year, mainly due to the improvement in gross mining margin, higher cryptocurrency prices, gains on the sale of digital currencies, and foreign exchange.
- The miner said that at quarter end it held 1,116 bitcoin, worth US$48.4 million and 25,154 ether, worth $74.7 million.
- Hive said it is nearing completion of its two data centers in New Brunswick, Canada.
- The shares of the miner were down 4.7% in early U.S. trading as prices for bitcoin and ether tumbled more than 5% on Tuesday.
- Hive is hosting a conference call at 9:30 a.m. ET. CoinDesk will update this story with any pertinent information from the call.
Read more: Hive Blockchain Outperforms Crypto Miners as Ether Reaches All-Time High
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Cascade Unveils 24/7 Neo-Brokerage Offering Perpetuals on Cryptos, U.S. Stocks
The platform will let retail traders use one margin account to trade round-the-clock perpetual markets.
What to know:
- Cascade has introduced a 24/7 brokerage-style app for perpetual markets spanning crypto, U.S. equities and private-asset exposure.
- The firm is pitching a single, unified margin account with direct-to-bank U.S. dollar capability for deposits and withdrawals.
- The company has raised $15 million from investors including Polychain Capital, Variant and Coinbase Ventures.
Top Stories
