HIVE's Daily Revenue Still Dominated by Bitcoin Mining

HIVE Digital Technologies' revenue from August 21 to September 10 was $1 million per day, with Bitcoin mining accounting for 90% of that total. The GPU cloud business generated around $100,000 per day during this period, contributing less than 10% to the combined average daily revenue.

HIVE mined an average of about 12 Bitcoin per day during this time, which is roughly 2% of global network production. This revenue figure is based on preliminary and unaudited management estimates and takes into account prevailing Bitcoin prices, network difficulty, and operating conditions.

The company has reported that it has closed more than $600 million in GPU-cloud total contract value year to date, combining signed customer agreements and letters of intent. However, the company warns that this figure is not recognized revenue and does not guarantee future revenue.