Hive Blockchain: Q2 revenue of $44.2 million but net loss of $95.3 million

Crypto mining firm Hive Blockchain reported revenue of $44.2 million in the second quarter ended June 30, with a gross mining profit of $27 million. A total of 1,338 bitcoin equivalents were mined this quarter, a 7% increase in total output quarter-on-quarter, including 851 bitcoins and over 7,675 ethereums. However, Hive Blockchain said it posted a net loss of $95.3 million for the quarter ended June 30, largely due to higher non-cash charges such as depreciation, unrealized valuation losses on digital currencies and investments, and impairment charges on equipment and equipment deposits . As of June 30, 2022, the company held $71.4 million in digital currency assets.