Fintech PR
HIVE Achieves Record Quarterly Revenue of $37.2 Million and Earnings of $18.6 Million for Q1 F2022
This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated February 2, 2021 to its short form base shelf prospectus dated January 27, 2021.
Vancouver, British Columbia–(Newsfile Corp. – October 4, 2021) – HIVE Blockchain Technologies Ltd. (TSXV:HIVE) (Nasdaq: HIVE) (FSE: HBF) (the “Company” or “HIVE”) announces its results for the first quarter ended June 30, 2021 (all amounts in US dollars, unless otherwise indicated).
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.
“The first quarter of fiscal 2022 has continued the momentum that we had in fiscal 2021. It’s been an incredible year for HIVE. Despite the effects of COVID-19 and associated supply chain issues, we have achieved record results and continued to increase our Ethereum and Bitcoin mining capacity,” said Frank Holmes, Interim Executive Chairman of HIVE.
What many investors have not realized the significance of mining Ethereum in addition to Bitcoin, which has continued to exhibit very strong performance throughout this calendar year, after our Q1 period end of June 30, 2021, and even after the London Hard Fork in August 2021.
Of note, for the month of September 2021, HIVE mined approximately 221 Bitcoin and 2,572 Ethereum. On a daily revenue basis during September 2021, this income from Ethereum would be equal to mining approximately 186 Bitcoin. Therefore, the total equivalent of Bitcoin mined on a daily revenue basis for HIVE’s September 2021 production is approximately 407 Bitcoin, or an average of approximately 13.6 Bitcoin equivalent mined per day.
As such, Hive appears to be the most profitable Crypto mining company amongst our peers with a rapidly growing Bitcoin HODL strategy.
“During this most recent quarter we acquired HIVE Atlantic in April 2021, giving us a substantial Bitcoin mining operation in New Brunswick, Canada. We are well into the process of expanding capacity through new construction at this data centre campus and are installing next generation Bitcoin mining equipment which is arriving monthly.
“The acquisition of the New Brunswick data centre campus gives us a strategic advantage in this competitive industry. Owning our own state-of-the-art facilities means we don’t have to worry about landlords raising the rent and gives us full control of our operations.
“HIVE now has the land, buildings, talent, and mining equipment we need to succeed. We are focused on improving efficiency and profitability by optimizing cryptocurrency mining output. We’re lowering costs and maximizing our existing electrical and infrastructure capacity by installing new mining equipment as the orders roll in.
“During the first fiscal quarter we received ASIC machines every month, which allowed us to allocate these new generation miners between our 2 facilities in Canada. These purchases were partially funded by the $100 million At-The-Market Program. We sold a small amount of Ethereum to upgrade our equipment with Nvidia latest generation of high performing GPU chips but continue to HODL 25,000 ETH and 1,030 BTC. We continue to ramp up production of both BTC and ETH.”
Q1 Quarterly Highlights- June 30, 2021
- Generated revenue from digital currency mining of $37.2 million, with a gross mining margin[1] of $31.0 million
- Mined 225 Bitcoin and over 9,700 Ethereum during the three-month period ended June 30, 2021
- Earned net income of $18.6 million for the period
- Working capital increased by $20.9 million during the three-month period ended June 30, 2021
- Digital currency assets of $82.2 million, as at June 30, 2021
Q1 F2022 Financial Review
For the three months ended June 30, 2021, revenue from digital currency mining was $37.2 million, an increase of approximately 466% from the prior year. This was primarily due to an increase in the production of Ethereum and Bitcoin stemming from mining expansion, and considerably higher coin prices.
Gross mining margin1 during the year was $31.0 million, or 83% of revenue from digital currency mining, compared to $2.5 million, or 39% of revenue from digital currency mining, in the same period the prior year. The improvement was primarily due to the Company’s assumption of control over its operations in Sweden during fiscal 2020, which has resulted in lower costs, combined with the cessation of Bitcoin cloud mining operations after they became unprofitable in the third quarter of fiscal 2020, and the switch to independent mining at our Bitcoin mining facility in Quebec. The Company’s gross mining margin from digital currency mining is partially dependent on external factors including mining difficulty, the amount of digital currency rewards and fees received for mining, as well as the market price of digital currencies.
Net income during the quarter ended June 30, 2021 was $18.6 million, or $0.05 per share, compared to $1.8 million, or $0.00 per share, the same period last year. The improvement was driven primarily by the increase in gross mining margin1, higher Ethereum and Bitcoin prices, gains on the sale of digital currencies, and foreign exchange.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/98425
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STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.
The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.
To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.
The webcast can be followed live here and a recording will be available afterwards.
Information on EQT AB’s financial reporting
The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.
The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.
Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]
Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334
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- Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
- Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
- Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
- Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
- PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
- Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
- 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
- CEO reaffirms Kia’s commitment to ESG management
SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.
Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.
During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.
The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.
“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”
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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.
As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.
The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.
Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.
About BioVaxys Technology Corp.
BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.
ON BEHALF OF THE BOARD
Signed “James Passin“
James Passin, Chief Executive Officer
Phone: +1 646 452 7054
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