According to the official announcement, the first quarter revenue of the crypto mining company Hive Blockchain ended June 30, 2022 was $44.2 million, a year-on-year increase of 13%.
During the quarter, Hive Blockchain mined 1,338 bitcoin equivalents, including 821 bitcoins and 7,675 ethers. HIVE’s total digital currency output increased by 7% quarter-on-quarter, including a 4% increase in bitcoin production and a 20% increase in ethereum production.
The net loss for the quarter ended June 30 was $95.3 million, primarily due to higher non-cash charges such as depreciation, unrealized valuation losses on digital currencies and investments, and impairment charges on equipment and equipment deposits. As of June 30, Hive Blockchain held $71.4 million in digital currency assets.