HIVE Digital Technologies projects mining margins of 36% to 52% as Bitcoin approaches $80K

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When your electricity comes from Paraguayan waterfalls instead of natural gas turbines, rising Bitcoin prices hit a little different. HIVE Digital Technologies just showed investors exactly how different during its Q1 FY2027 earnings webcast, projecting mining margins that scale from 36% at a $60K Bitcoin price all the way to 52% at $80K. The margin math President and CEO Aydin Kilic walked through the numbers during HIVE’s August 17 presentation, and the math is straightforward. At a 5-cent per kWh operational expenditure, the company’s mining margins after electricity costs sit at 36% when Bitcoin trades at $60K. Bump that to $70K and margins climb to 45%. At $80K, the company keeps 52 cents on every dollar of mining revenue after power costs. The 5-cent per kWh assumption underpinning those projections is key. That rate is achievable thanks to HIVE’s reliance on hydroelectric power sourced from Paraguay, one of the cheapest energy markets on the planet for large-scale consumers. Q1 earnings paint a growth picture The margin projections weren’t delivered in a vacuum. HIVE’s actual Q1 FY2027 results provided the receipts. The company posted $79.1 million in quarterly revenue, a 73...

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