HIVE Digital Technologies Ltd. Q4 FY2025 Earnings Call
· Earnings call transcript and AI-powered summary
- FY2025 Revenue: $115.3 million, flat vs. $114.5 million in FY2024, supported by higher average Bitcoin prices and growth in AI HPC business.
- Adjusted EBITDA: $56.2 million, unchanged from FY2024, highlighting strong operational execution despite Bitcoin halving headwinds.
- Bitcoin Mined: 1,414 BTC equivalent for the fiscal year.
- Gross Operating Margin: $25.1 million (22% margin), down from $37.5 million (33%) in FY2024, due to BTC halving and increased network difficulty.
- Net Income: Reported net loss of $0.02/share vs. net profit of $0.29/share in FY2024.
- Q4 Revenue: $31.2 million vs. $36.9 million in Q4 FY2024; Gross margin at $8.8 million (28%), vs. $15.6 million (42%) YOY.
- Cash & Digital Assets: $23.4 million in cash and $181.1 million in digital assets, including 610 BTC on balance sheet.
Growth Initiatives & Strategic Updates
- Hashrate Expansion: Reached 11.5 EH/s in June 2025, aiming for 25 EH/s by Thanksgiving 2025.
- HPC & AI Business: $20M ARR achieved in May; Toronto data center acquisition could add $80M ARR (3.5x current capacity).
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