A gray mine for cryptocurrency mining – as such Riot Blockchain revenue in the previous quarterInc., revenue from mining company Hive Blockchain in Vancouver, Canada, is down from a year ago.
Hive Blockchain: Figures at Half Mast During Crypto Winter
according to communication On November 15, which shows results for the second fiscal quarter ended September 30, Hive Blockchain revenue for the period to $29.6 millionfor 858 bitcoins “green and clean” and 7,309ETH mind. These cryptocurrencies were sold to buy new ASIC miners.
This Hive Blockchain revenue for its second fiscal quarter posted a 45% decrease comparison Turnover in the previous year, for the same period.
With respect to other intermediate management balances, gross margin on mining amounted to $15.9 millionor to 54% Revenue from cryptocurrency mining. At the same time, in the previous fiscal year, it was this amount $46.0 millionwhich is the number representing 86% Mining revenue.
In terms of net margin, the company suffered from a Net loss before tax of $37.2 million From July to September this year, a loss of $0.45 per share. During the same period in 2021, Blockchain cell recorded a net profit of $59.8 millionfor a profit of $0.16 per share at the time.
The crypto winter already had a significant negative impact on miners’ financial performance in the previous quarter. The finances of the players in the sector were put even more on the line during the last quarter of this year with the FTX crisis, which led to Bitcoin price drops below $17,000.
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