The second quarter report of Hive Blockchain got released.
As per the report, the revenue slipped by 44% year over year.
Hive Blockchain, the first publicly traded crypto miner, released its second-quarter report on November 15. As per the report, the revenue slipped by 44% year on year and currently stands at $29.6 million. In that same interval of time, the net income of Hive slipped from $59.8 million in the first quarter to $37 million.
The net income of the company was remarkably higher than its revenue in the second quarter of this year, as the company witnessed more than a whopping $22 million worth of profits on the Bitcoin and Ethereum it mined. The company also bore a $26.2 million damage expense for its mining rigs.
The Bitcoin mining abilities have additionally scaled despite the firm’s loss having been accelerated. Year on Year, the company mined Bitcoin which was 31% more than in the second quarter of this year estimating 858 coins, which has more worth after consid
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