Share this article
Hive Blockchain Sees Q3 Crypto Mining Income Double to $13.7M
Hive shares have gained 132% year to date.
By Zack Voell
Updated Sep 14, 2021, 12:19 p.m. Published Mar 2, 2021, 4:46 p.m.
Hive Blockchain (HIVE), a publicly traded cryptocurrency mining firm, benefited from the bull market in digital assets last quarter as bitcoin prices rose, a report Tuesday showed.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- Mining income for Hive's fiscal third quarter, ended Dec. 31, reached $13.7 million, a 174% increase from the same period a year earlier when it had mining income of $5 million, per its reported financial statements.
- The price of bitcoin quadrupled in 2020, and ether rose fivefold.
- Earnings per share: $0.05 a share for the quarter, up from $0.01 a year earlier.
- Gross mining margin: Stable at 78% compared to a 77% margin from a year ago.
- CFO Darcy Daubaras, on Tuesday's earnings call, said the company is slowly ramping up its bitcoin mining operations with 165 BTC mined in Q3 and a recent purchase of 10,500 ASIC mining machines. But the lion's share of operations are dedicated to mining ethereum .
- "Our bread and butter is ethereum mining," Daubaras said on Tuesday's earnings call.
- Hive mined 21,506 ETH in Q3, a slight decrease from 23,174 mined over the same period a year ago. Daubaras attributed the drop to the increased difficulty of mining new data blocks on the Ethereum blockchain. The difficulty level has doubled over the past year.
- The Vancouver company has a current market value of $1.57 billion after passing the $1 billion mark in early January.
- Year to date, shares of Hive have more than doubled, currently trading at C$5.83.
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
SpaceX’s $300M Bitcoin Stack Puts Crypto Inside the World’s Biggest Planned IPO
The Elon Musk–run company is moving ahead with plans for an initial public offering that would seek to raise “significantly more than $30 billion.” Even relatively small balance-sheet allocations matter at that scale.
What to know:
- SpaceX is planning an IPO by 2026, potentially valuing the company at $1.5 trillion.
- The company holds significant cryptocurrency assets, including bitcoin and dogecoin.
- Elon Musk's influence in crypto markets is notable, with SpaceX's IPO potentially expanding his reach in AI and crypto infrastructure.
Top Stories
