HIVE now have the land, buildings, employees talent, and mining equipment which HIVE requires to be successful. By optimizing cryptocurrency mining output, we want to increase efficiency and profitability. By installing new mining equipment as orders come in, we're cutting expenses and utilizing our existing electrical and infrastructure capacity.
“HIVE gross revenue from digital currency mining was $37.2 million in the first quarter, a 466% increase from the same quarter last year, and 11% higher than the previous quarter. Record quarterly net income of $18.6 million, up significantly from $1.8 million a year earlier, and $4.3 million higher than the previous quarter. Gross mining margin expanded to $31.0 million, from $2.6 million last year, and is $3.3 million higher than that experienced in the prior quarter of $27.7 million. Net income per share grew to $0.05 from $0.00 during the prior year and is $0.01 higher than the previous quarter of March 31, 2021.”
Furthermore, HIVE mined approximately 221 Bitcoin and 2,572 Ethereum in September 2021.
This income from Ethereum would be equivalent to mining approximately 186 Bitcoin on a daily basis during September 2021. As a result, for HIVE's September 2021 production, the total equivalent of Bitcoin mined on a daily revenue basis is approximately 407 Bitcoin, or an average of approximately 13.6 Bitcoin equivalent mined per day.
As a result, Hive appears to be the most profitable Crypto mining company among our competitors, with a rapidly growing Crypto Currency HODL strategy.
HIVE is a high-growth technology stock in the nascent blockchain industry. We are bridging the gap between the digital currency and blockchain sectors and traditional capital markets as their company, whose shares trade on a major stock exchange.
HIVE owns cutting-edge, green energy-powered facilities in Canada, Sweden, and Iceland, where they mine on the cloud and HODL both Ethereum and Bitcoin.
Since the beginning of 2021, HIVE has kept the majority of its ETH and BTC mining rewards in secure storage. Our shares give investors exposure to the operating margins of digital currency mining, as well as a portfolio of crypto like ETH and BTC.