HIVE Blockchain Technologies (HIVE) 16 Nov 212022 Q2 Earnings call transcript

Good morning, everyone. I would like to welcome you to today's webcast, reviewing HIVE Blockchain Technology's financial results for the 3 months ended September 30, 2021. On Slide number 2, except for the statements of historical facts, this presentation contains forward-looking information within the meaning of applicable Canadian Securities Legislation that is based on expectations, estimates and assumptions as the date of this presentation and you can see the corresponding full disclosure up on the screen right now. On Slide 3, you will see 1 of our most popular visuals we included this last time for the DNA of volatility. And we're always sure to include this table in our earnings presentation, especially following the disclosure, because it's a really great reminder to investors and shareholders on how much various asset classes can move up or down over a 1-day and 10-day timeframe. see greater volatility gold than can Ethereum Bitcoin stocks. you much is the as here, of the and And S&P or even Ethereum. And at because if course, mine more it's we and then that's volatile Bitcoin you both and of HIVE, look on number X, move the to I'm slide program. today's for to we pleased welcome If presenters Frank Kilic Operating Chief President Chairman, Officer. Daubaras Financial Chief Darcy Executive and Holmes Officer, Aydin and

we X.X% are Technologies, We the really Network you representing about. And and NFT, will presentation is today Entertainment have Network Starr, Technologies DeFi CEO, DeFi owns presentation guests today's Derick Executive Murray, then X, Slide Representatives Hive Producer, of then CEO. is which Tom for the and which HIVE which owns of Chairman for Company, from on Advisor Director, Lombardi, Strategic if Group, Russell representing the to for number And and excited Media R&D move X.X% today's for slide research. next Company.

On I would corporate hand Executive Frank to the next to Chairman our update. slide, it Holmes, for over like

recent is Thank in space. the Real is Holly. and thing next a where goals, talks magazine, estate position is This it big Assets Adviser but being HIVE Bitcoin as about real a you, it and to that

it thought because I So this big was really growth. our is fitting

Bitcoin. take a is through walk today you If story look at I it the as

it HODL would mined presentation. I'm Bitcoin footprint, then in detail into which HIVE later BTC our by to -- we fell in going continuous to XX having production, please. our Next increased due as momentum the the greater and

in of the but theory revenue up end is back not the big growth still footprint, only as crypto in in Strong huge was revenue, companies. the translates Bitcoin that a part Iceland. each production X-fold margin increasing our continues in in Eddie per of and earnings Company Q/Q. of been gross the revenue and revenue, and not mining mining all the is model, has margin gross This our of high production the Ethereum, our that of see but of also September, only the profit revenue and Ethereum is part can Sweden, highest particular And to that we income of profit share, are steady the stealth You our quarter. mining

particular, not If I you by actually take previous in more money the much strongest points. XX crypto year this. revenue the expanded previous growth to dramatically we've September. mining explicit but But per the and into did to September Ethereum we Ended data the to made the a and with what's then income detail in of quarter Bitcoin. increasing did on look make Bitcoin for compare important in money is for space, they pricing, Darcy previous was were footprint our year, at really is only But $X.XX; was rise many money. we ended losing $X.XX. go of the basic [Indiscernible] mining share. we year because HIVE's investors going peers

momentum. has Ethereum, been big last myself. I'm the to from week most a X Riot. growth a what Number had and X. But but comes for then As a we been number going you can to Marathon, Bitfarms steady and interesting of funding see, has part and revenue, What's -- revenue And repeat growth we're did then Bitcoin. that that that's big is maintain

metric capital. highest are Those our for on on of the peers. and that invested revenue relative are we're And are valuation ahead market some of and serve that caps us dollars these of returns that the we companies as is on its high highest on invested what will growing focus returns doing cash-flow a with so which greater, just have recognize scratches in billions having capital

Next please.

and return he quant As picks the and our Company tier capital Canadian on a was invested in a industry, analysts, the is talks and cash time, to top regular a Matt he based CAD flow as companies renting on capital stocks about each dialysis, flow return and about at He invested group it October BNN a on click in Kacur free all FSA Valuations Statistics. a on and was in XX, can called you talks XXX. -- that has that feels he cash his that but Canada, where video worth through watch high back undervalued

of of is is This the which as please. quarter of this America common stocks. particularly of idea type discipline in an at approach intrinsic very the the quant model, Next value of looking

please. XXXX is that January in investment today. Fool’s in said you recently as worth $XXXX HIVE Motley Next $XX,XXX over put

on detail, position had based worth very oversubscribed. we mining. down do the over Canadian the -- of day. stories, we so us that rose a nothing puts additional is a in distribution Bank your all wonderful major a but difficulty simplicity in U.S. an we're investors. extra it they and And and And November expand which interesting XXX% participated healthy going especially listeners, million a part it of week, and like time, and read I've release, last their $XXX for and complexity a to a will Motley the by And where to far in companies financing which have as Montreal, X it other say come hash. in We Fool's, BTC that's in press Canada bank, Xth first of our maintain I the blockchain today's and interesting rates, the was and for their financing dealers but a for is out the take more to sort in go Bitcoins analysis broad distill industry both have Recent over went for production and

the so But job we're and which just great thanking Bank finished investments, year. other Ethereum in a it's sold for to film, just our the press Bruce it's Canaccord It's and also us Prime our has Media which NFT we Montreal NFT produce this of companies year. that's Canaccord business Stifel Muhammad this via I the billions So to a momentum has network be COVID, in this of for October that and be next And business investment They would digitization, which are we microcap was content, ATM, release today. has investments had that fast-track Network music. critical around. phenomenal now welcome made stock done we'll dollars -- using Group, challenges Lee. thrilled investment. going strategic not and from last Ali, high-quality made a during presenting all of the or And particularly also Recent seeing turned you're participating. like and the leading XX Netflix time. into It's year to allows its on other

Next please.

engineer also crypto who We as been space past Biggs, went years. of mentioned an release, for period in Diana XX University very that October, made early has incredible the to in has resume, McGill we from and an a the that press the involved deeply

which a DeFi and So own about brings helped over especially she was their She She tremendous of thrilled involved Labs ahead their much was very here. us HSBC $X.X expand footprint, the industry. the countries, in with is has with DeFi. still we're knowledge, ETFs in in Board the in Nordic Company, Switzerland, have She's to she And all part for Switzerland Bitcoin of for our Silicon in the Zug, where it. the of it's profitable basically is very Valley the of billion crypto Directors joined foundations like their business. Innovation

where mine all largest. is etho; in But Bitcoin. And for big growth metrics interesting this JPMorgan battle Bank is we'll advantageous ecosystem this that's the It's the going investors interesting strategies this to the it's performance high we the us, with in this coins, stable maintaining of event does see and growth proof Ethereum if between continue that mining. from recognize you and stake proof work, X and proof in of America that to endorse the footprint, I've Ether where thousands is and we we're as Ethereum. position stake take NFTs, be over we next made work, for of is the year equipment. please. big longer of heard to coins. proof eventually able And supposing valuation and future years we're happen. But of all for includes be no for very apps, by really a important is Next it's to because our And the have and the focused of ecosystem in of

this -- another give an the depth The is you Next Ethereum ecosystem. scope of idea the to and visual please. of

please. Next

Ethereum, panning for the many the reason chips this, and gone of difficulty much One a CAD-CAM -- in Antonio, so Ethereum year, to sleeps. PCs, from challenges, turns the he he computers on detail mine turn fell that anecdotal there AMD mining buy who come Bitcoin. about when and more get and off as for highly kids and St. go particular it ecosystem for but on interesting designer Ethereum diversified which it on will that city have software -- the them gaming, continue any into that their did allows mining more $X,XXX I a it's or XXX for but new to week has have And new machine But you is that rise. highs. generates and he It's to equipment, there's to big all-time so for to last NVIDIA needs for told and that they young while big young sleeping, they're the chips Ethereum, are when it one me

please. Next

Aydin. great to of are. give wonderful And to a want it he's Aydin Chief you to going he's turn recent I Now Operating a doing Kilic our we and where over Aydin. Officer. update is job; President

the a which It's Ethereum Ethereum convert to works mining. is represent got because for the our quarter the some I'm you, mining numbers XXXX GIGA of operational peer for you off is mining entire Right gigahash this to that about revenue quarter we group. amongst thousand about Bitcoin -- that each composite equivalent, get On as of HIVE. hash in best Bitcoin a we been of of right now. to Thank active Frank if here And XXX addition have and phenomenal mining, how going exahash network. of that Petahash that into it's Ethereum X.X% X.XX the introduction to about mining. out

actually total exahash of put exahash over mining. X.X mining that our of equivalent to equivalent Bitcoin Bitcoin -- to So about

understand did revenue HIVE that's public quarter. for in the best get good investing to So out the to

difficulty of of this having the the drop a a Well, offline. the had as out at underscores here, importance result it coming looking news we we're the miners jurisdiction. year Now, stable of the where difficulty big rate politically China earlier

and having energy. clean HIVE green to addition In

lot mining found about of the shows Bitcoin in Cryptos so a seen Quebec. power expect we've hydro of a megawatts spirit the hash also jurisdiction, got it -- All $XXX these mining drops what raising on the people completely and hash hour. dollar of to $XXX We're capital hashing almost operations rates have what power gets of get the what out sometimes Bitcoin its to of rate Sweden, half politically been It are of from and A hash But stable our the now we July. was of They're or think course, mining side lot I recovered how into also in you've sources overlooked U.S. that mining. way was. companies focused Bitcoin XX% geothermal. That's million continue Again, ice that's where Terahash our Over to grow space. are used Bitcoin in Terahash to and as very just down about state per $XX China. in into to kilowatt rate decentralized. million be operating significantly million centralized are both as seeing to centralized down Terahash. or

please. slide, Next

saw more other over didn't I drop, the you on for that And here. this lot the same the what that to Ethereum way mining. a massive And year, past the increase over by see mean Now, Bitcoin is, decentralized. past especially has hand, the you you continued whole Ethereum see years is few

as earlier point, globally. lot nearly seeing decentralized Frank's to And a wasn't mining. it as as is by China we're Ethereum 's Bitcoin anywhere that of more affected outline So, crypto mining a much result, mining,

point mean So One at slide, this Next more what actually. look does Ethereum all please. we ecosystems? different these on when

could see numbers production You here. highest

XXXX Ethereum second Ethereum from down year one in prior. quarter, example, XX,XXX were For mined

almost touching XXX However, has XXX up remarkable of year Ethereum bucks Ethereum course, had from a year a before. $X,XXX per or

So although price has a the by X of factor XX. increased quantity coin reduced factor of a the by has

had has such Ethereum quarter. are economics so this because had and historically large part And And having of strong. contributing footprint. for to still the us mining a stellar fundamental very factor mining such the HIVE numbers strong a That's

about and we please. We coin price. slide, talked talked Next output about

the this here does mining so And combined graph what it represents economics. actually is

you this Proterra the hash So quite for put, per dollar what does is this day. mining shows Bitcoin simply

it You they price earning you per are and would would what mining you it quantity and the everyday generating does if Bitcoin day Bitcoin so a you be is dollar be right? takes And the give mining price. that Bitcoin, would

could So in this the remained hit year we very this We in see case, all-time Bitcoin March. earlier bull highs hit February, around you that market what -- strong. -- has multiyear highs sorry,

went of summer. Bitcoin, a bit dropped the the softening in the went of up. after because coins And for was profitability up so there rate little hash But the quantity

the of the the levels back in year. couple spring the in that saw this of seen per strong we now per to so dollar of day terahash price also right months driving we've Bitcoin up And past

so get terahash. while day per what mind, So mining dollar to per because X.XX $X.XX high. is that Bitcoin rate we're strong We what per this has per very has about day million per The That's this hash just all-time still per terahash right still earlier. million when seeing exahash in is have $X.XX about Terahash. is means we economics. very saw you dollar day now so X.XX And is XX,XXX greatly Bitcoin terahash have in we strong keep and as know rebounded -- we we say terahash high about

please. slide, Next

Now, the Ethereum. is per graph for per Ethereum. This same this day mega dollars is before hash

in hold And the now rallies. And days spikes take for a those and of it's say, fee few and where Blockchain XXXX in. well, a so back like very are transaction last a absorbed actually big there's you were This second. fees you step looks were and on couple consistent a actually, all in year. May Ethereum very those just February been of There transaction

given so Ethereum came and transaction designed to They mint super of their wanted about want accessible, London fees. operate able gaps and fees exorbitant on or be to Hard Fork the Network people be Network was to to or send being to the projects receive blockchain transaction theory on the to efficiently high NFTs, And tokenized the have early able Why? be that they these Because August preventing these any day. by in prevent they usable. wanted

earlier, the presented profitability, at was basically compared we And per dollar studying were exactly that illustrates in mining teething last our rally as we some that in to hash commentary, poor you Ethereum the in actually We point days XX making earnings, team a own right? were here, economics awards better. there mega of look following are running Now, Fork, out pointed month that the technical here. analytics. our Compared our in can to level, XX August previous mining And the days you at the the London Hard July. it, see was the if

technical it's look dollar always to here, at guys hash out mega per per for you day. great So

business mining be for economics, this and ecosystem. here than Bitcoin. For go difficulties has understand price strong, Anyways, made Ethereum a And a lucrative we've very mining us, action the [Indiscernible] course to to of a our slides business. very the happy got to we're stronger Ethereum has up earlier of underlying you've been which continue in no to consistent part Ethereum

please. slide, Next

Some X future we highlight, were high. had rate month a and we point big August August big active that that X equivalent XXXX. hash increased this for was announced X.XX in at in time, XX% mining And that magic of slide. at But had this then? happened exahash so in electric hash what's no was last since machines We've days, now. purchased quarter, or in by actually Next XX our Bitcoin X,XXX we that our exahash mark in accomplishments Bitcoin months, hit right the last

XXX we're In Ethereum to I footprint that increased. Petahash. Ethereum is This Bitcoin has remarkable each that, earlier is so of Gigahash, X,XXX about at our addition mining because Gigahash XXXX mentioned

on the of total that's rate the HIVE's, a Exahash, over Not investment. is here. equivalent composite hash global and So for important Bitcoin figures X.X now these

So this growth quarter. remarkable

An have secondary data We're then and well you see online gorgeous This track silver we've megawatts all there to bookings megawatts with underway. on clean. online in please. have a project on online New slide, infrastructure got a Next movie update island is our QX few XX -- we're construction have sci-fi hash that is going it center that out Brunswick In XXXX. wall our those a our like can and to premium in December XX months, sense looks we're so all something hot substation of through. to full-on

almost our design. So one very exahash exahash New over mining at we're of data capacity passive X Brunswick. Bitcoin in -- sorry exciting, of Bitcoin have at gorgeous Beautiful, X site center

You notes see some the superstructure could there photos. in the of architectural

slide, Next please.

looks the future so bright HIVE. for And

exahash us on to that exahash mining. mining, for we of mining, gigahash equivalent over X mining. is to exahash infused X,XXX over to if of brings And Bitcoin have over We previously, bring on X,XXX exciting. Bitcoin gigahash exahash us X.X basis, over pipeline This very our an of take Again, mining. track of of an also current Bitcoin Ethereum Bitcoin highlighted have that mining. that's And X.X we that's you again, had Ethereum

you of If Frank's that, again X at just capacity. wasn't -- Bitcoin $XXX increases experiencing another exciting announced mining all that Without exahash just enough, compounding which please. just number HIVE, with leadership exciting is on that million pure further we're of slide, that gave that rise. the Next top I growth of X always is

footprint. Ethereum mining In addition, that we've got

exahash put about X equivalent additionally our capacity mining exahash So and the XXXX X,XXX rate of hash X.X HIVE's Bitcoin Bitcoin gigahash. would to with that

So our infrastructure to and great deploy a it's a globally ahead develop team very chips. be positioned exciting we got going year we've and as

note, And it Daubaras. on turn Mr. that slide. I'll Darcy Next over to

Aydin. And quarter continue with second ended I'll you, the XXXX. September the the review of for Thank on Company financial XXth,

slide, please. Next

quarter. prior generated the prior in data to This by revenues Slide year driven fiscal the million an of year, revenue coins mining from versus Fiscal mining versus XX,XXX X bolstered we the the of the in during to million the revenues quarter, same XXX recent was that by quarter XX, mined increase compared the of This the fell from XX Canada. Bitcoin place acquisition the $XX.X year. Turning took due production year centers Bitcoin to increase XXXX seen driven mining in though X,XXX was increase currency Ethereum of ago. the by digital number a in in the $XX as you've second Ethereum XXXX the in in of prior the is power the of the in year, second XX mining quarter to The of to from times in current in close the price to even

at including mining. digital of on margin from currency and price the partially equates million XX%. of direct $XX margin, Gross the our also increased percentage gross the in and Gross also rewards increased mining dollars difficulty, which amount in the to mining the to miners received, network in XX% absolute the various digital quarter of currencies minus comparative. Our prior-year time costs, operating to $X.X is compared dependent factors, mining to maintenance external revenues most recent million mining market

please. slide, Next

Bitcoin an of of both was prior the of campus increase driven of second Fiscal this slide XX, Bitcoin in delivery million million $XX.X previous in data miners quarter. Canada. QX quarter, our the the QX comparing New current acquisition Fiscal we revenue in to previous again, generated by and to quarter the currency was the of increase mining versus to And ongoing the $XX.X XXXX Turning data production in digital the revenues Brunswick of mining versus the ASIC quarter The mining. due our centers in to from quarter,

the percentage recent The mining most Our year the gross to dollars in million compared mining also increased million comparative. margin increased. to gross $XX.X in in quarter absolute prior $XX

slide, Next please.

year of to the $XX.X that the Iceland Ethereum million starting and was the mining overhead figures. EBITDA in our the organization year reducing of data quarter. currencies, will in in of XXXX compared assets and the I consecutive predominantly Fiscal and adjusted gains comparative do, enabled as quarter by adjusted us XX.X our we in increased million investments, million Net a versus the quarter EBITDA is for sale in We're profitability, our the diversify positive are HPC prior $XX.X reevaluation attention gains from second continue non-IFRS was Our upgrade current margin also to to gains and to highlight, This in to X.X Fiscal by quarter to record mining Sweden which digital margins comparative experienced the and prior center of increase invest recorded in The assets. on realized currencies always of operational of quarter. reflection EBITDA quarter. top business quarters the the bottom. million continue on gross unrealized driven costs I adjusted on digital XXXX and proud in during income second to

slide, please. Next

of that are million the mining digital compared the gains prior million to the we for mention recorded was to digital our currencies, realized prior second EBITDA the EBITDA and Income unrealized incurred. were comparing in sale XXXX compared our to on comparative $XX.X the from driven quarter. comparing we're gains again, of gains the million of on margin in Now figures. $XX.X currencies Again, the non-IFRS to was $XX.X $XX.X and increase gross in adjusted second current XXXX, revaluation losses quarter the prior in the I'll the fiscal quarter quarter, And Net by quarter increased million and XXXX investments, the prior income adjusted EBITDA June fiscal are XXth, to adjusted in quarter. Net quarter

slide, please. Next

the year-ago we're astronomical. when here, see quarter at the are now can is comparison to we you HIVE's As looking holding from where strategy,

to can. hold we all as of the on coins quarter, September this the end most over very much from and Bitcoin approach recent strong at holding $XXX.X as sitting XXth, are of have And with the of using Ethereum in we of Sheet XX,XXX million coins. over coins sitting X,XXX We been of assets this our balance

liabilities we've million. ability million versus and strong got This please. healthy that current $XXX.X solid $X.X this speeds balance assets sheet continues a fund normal receivable very continues I here continue $XX.X of And financial to of This a been as Cash-on-hand a forward. is amounts in to we business a of currencies, only of total had we've $X.X million and able our digital prepay current slide, the build to HIVE. from the holding, $XXX.X Next give at moving course mentioned million having us through that something to position. operations do will million

please. Next slide,

our can structure. capital Here you see

X.X November XXXX, at and million at options X.X XXX shares XX, our million of million, million. warrants. outstanding As and over there Got issued around XX RSUs

finish our excited HIVE. this about investments our And also and we with We're also very for tokens.com. to future and morning. network, moving listening These in those. Technologies the DeFi are hold in and you I'd past in Holly turn have we hold positions that now thank over of to like And investments We presentation. in to that it the us much the to small each show shareholders investors very to forward made off

from CEO And you see will much, Thank now and we DeFi from a Chairman Technologies. Executive so Russell Darcy. presentation Starr,

to for us. you inviting everyone Thank Holmes you for HIVE Frank joining. and Thank

HIVE compelling revenues Obviously, for is very it for be anyone of both for are share HIVE and companies. very, this in business both to interesting months HIVE tremendous lines resulted DeFi tremendous this Technologies and presentation and creation think generating companies. has value DeFi outside going attending ago, their to the many update. swap I

However, geometric. the are my in opinion two between synergies the

of evolution several the And executives build finance So of Company world My thank is do everything the you of Litter I'm the and between complexities that invest Biggs attending. know, It's found is It's and is listed our Thornblad we capital and you and very What HIVE allow and co-creators the world. traditional invest get way markets is you of Strategy created Starr; many Simplified, much My decentralized President. SEC the your the Technologies. DeFi helped is was X the opportunities. protocols that and the which innovative Chairman financial founder to XBT CoinShares. changing one in change gap the simple. Ethereum that world. Russell to to DeFi CEO people Johan He world thereby traditional Olivier and created people do? Provider, and in bridging now in DeFi? themselves. way that Executive is created almost Technologies is exactly I DeFi co-founders, it key in What are he Chief for and equity powerful of very is encounter building and and I'm our one change listening name listed average date people exchanges to of new truly She was the have create in can recently our is a of Chairman. Internet of around Innovation Officer. proposition now And X, this able we Roussy. and And the Global at day founded and alternative taken because Who protocol known we benefit HSBC. a and same been Olivier HIVE head the of private thinking very amazing every as called And in the one a innovative are regulated As to equities companies. and Johan to that CEO on allow influential and traditional DeFi wrappers. your created we opportunities compelling revolution. hasn't a sold Diana DeFi exposure trade equity is the most Executive junior of background HIVE to its finance. most create is to broker to dealer since them buy We Canada. exchange. traditional DeFi built who I've was protocols Company? DeFi, most access the on similar put investor And allowing and itself. this from the and investment a

approximately Our well, Currently shares. cap. XXX million market capital billion $X actually XXX structure, about million,

our and grown our Company stock Our as over several the substantially grown last have AUM months. has

money this have very be might catches as on we and and that it incredibly more or don't the listing over tech Why Well, can term that the DeFi? the in you I almost the in is maybe this that other exposure the use to lens opportunity obviously, up billion. growing times which impressive industry our suggesting that bubble -- DeFi lines, this you incredibly billion. crypto just to more me very is and that do the and X to do But question be X XXXX locked a popularity way, growing as think the may pan, seeing I X go bubble sheet entities that How just future benefiting. DeFi, getting the than slides, is fast today. DeFi any what are a lot $XX what invest can thesis And and the the to allow this in lot Managements. form, in DeFi We protocols, people may see, shouldn't balance even what bring said, sector, exactly $XXX a and at analogous to times well more close this total to size. business bubble you're people get of is -- shape, instruments make see in can And I faster participate are the you flash just see, year, environment exciting X Bitcoin, wealth, and this And growing. a ETPs, have a exact how DeFi getting is because invest of today with the Internet likes quickly looking as to this ask benefiting do? Microsoft, growing equity ecosystem truly of wealth. a more we this and in realistically investors robust in of our will are think companies and major intriguing that it single-digit the Many, you DeFi HIVE in is many who impending of than or to Asset listed faster to opportunity only growing see regulatory ecosystem. questions even the started grow the exciting in lot at hovering companies very, have Between To-date, figures an from intend value Like we AUM, those opportunity risk this and actually behind unaware Well, obviously, and Ethereum, credibility back space. people and we of our generational you to Apple, industry the Internet. I we of the any and and the regulation. believe and in funds a could very Amazon, opposite. And key is behind create We how

is and launch opportunity and We we today as Pompliano nodes U.S. to first just no trades our to Zero, And many inflation to Anthony Olivier, we where ETPs on AUM to obviously early but numerous mostly that management business to staking the get ETP. one of the underlying. today management venture, the and majority to likes infrastructure then, world's DeFi fees vast we protocols, and the We on we Fed very, XXX in for revenues returns and the has treasury Ethereum and the on with trade our Germany market $X in in with universe in in we've charge our course, And and staking to DeFi spread opinion DeFi our relationships. the Teeka protocols. we fixed of through governance the guiding several Unlike the income Polkadot, what parties and continuous printing Tiwari have companies, of my the million Nordic generate many market. our own Wooters to execute very on products the ETPs. the going management and co-invest we we're created, well Euronext. third have done the capture related the Ethereum approximately basket we something instruments on Cardano, is on Where can positive have the we're opportunities gone as our that's on tremendous revolutionize we for about that DeFi of that. forward where just our world moving the Germany to our in invest products charge debt generate you other money about We in is Bitcoin yielding believe we actually line, investors We're because negative of our fees our list due from network seed exists Zero, yield I'm generate versus listing that. can market growth and all listed -- for currently simply And already. fees Yohan, effectively the meaning and DeFi and other first underlying, due as And Where Uniswap Diana, Solana, our minimal get ever Bitcoin

U.S. and manage So on And we $X margins we headcount. get growth we markets a much grow per anywhere from it as $X AUM, and to historically At on $XXX our low quite and very, out our continue. broader exposure make make even a are can million truly of model to people we possibly you launch our faster more these of is than there's are we very upwards some almost costs believe million billion to infrastructure really that in audience Company larger this nodes, substantial X run ETPs. underlying Euronext has efficiently profit our $XXX node. as of in we and our believe $X going build a governance can because months and only million can And $X for to

growing other the business and engine staggering than faster Internet like that that compare the frankly, opinion, is are the than, said, to scene was. even decade. actually opportunity times in most to centuries, market growing back margins the and XX% opportunity, and to X of I the I early business EBITDA This then dominant my like XXXXs, even early and the So on XXXXs anything said, of be of is next margins the recent the quite revolution. frankly, this you And most and course, leaps going investment the XX% railroad in something This is, It's in bounds. evolution can't near and this space, the level. profit quite the

Lastly, manage. we underlying are AUM currently here our that in protocols

we $XXX million, Thank anticipate your $XXX look double near-term you email we've mentioned, I to XX the much U.S. or to in forward And comments. is out rstarr@defi.tech. again hearing you for this to that As Executive And us Thank brief questions, thank very CEO, which over much Director, as now time. Tom can Entertainment's I concerns, to us. well as we Network for for triple today, inviting from gone Adviser reach People to me. Producer from HIVE teams million allowing Research. the you do much. Thank for Murray, is Frank NFT, to any X almost And representatives for My next And X presentation. very be R&D will months. so to Lombardi, and Holmes Derick you and Strategic

to this team Derick us joining thank My Tom NFT release, the microphone Frank to over advisor. form. of Tom to with inviting of the Holmes have thank where to Media recently us for Network is joined hand Tom. CEO want going as I press of you to I'd all may like Murray; Today the name Lombardi, seen HIVE I'm our And you today. I'm Group. for and network many and has strategic who our

and $XX.X QX to these mainstream only And certainly we in and our present to Thanks, transform culture. we of media, NFTs imagination. XXXX, gone at Derick. here. go continuing an this amazing has use into the see be platform revenue opportunity growth by limited what where we It's from a that pleasure really future. the here And billion were finance, technology for, with end and

mentioned with imagination. really you That's Thanks, word that something resonates the Tom. me. I really appreciate

I that Ali, at "a Ali my you you team of. great I'm had many Ali. is Facing our going this Awards a of no just this quote a imagination, who man shortlist from clip, our film give entire and Muhammad man, show up a And that to Muhammad inspired proud wings Network ". no wallet years, short has For in sense Academy film just of to very has

the Ali, way event will motion change forever. picture This you Boxing Muhammad sport. see that the a is is strange

and can to You physically you hurt. get head. to can going so is take overstay the many welcome shots Brian your

You to can people your they see. giving life lose what want the

and and delivers Ali with sports, dives legacies, be Network enduring feature premium music, and Entertainment fashion, Facing and storytelling. deep and world-class comedy, cinematic content foundational the inspiring film, globally worlds combined lives of premium from into brand the business. personalities most recognized documentaries. positioning richly provider content politics, topics of of Network in celebrates and casts world's to The of was Network crafted fascinating cultural series documentary visually the iconic

for tech for know, Network has As center front universe who content and companies new been the years, you and the exploded content few these content demand and in over has streaming launched services. these last media creating have

NFT top platform and front and producing Our talent with about and formatted often camera, industry natural networks content and or IP partners at a the put, Every network talent relationship equally create distributed spectrum the Ayla's and day stated in music, we agnostic, owners aligning and is the content across I platform for audiences our leaders platform exciting the as at tell and for media. is NFT look to enthused a A-list stories animation, film, its or that simply talent his engage We platform. new initiatives that possible worldwide. opportunities. video, we illustrations, and work unparalleled. NFTs fit are new is or create of Network, digital photography, the with Embracing with graphics, endless Company. is every content

the him really at we to in get front, be NFTs. about little and apparent we going I on are hand am on do dig think this platform. you our the what on I new NFT Network to And day synergies why team to doing in over you future Tom, single and mic every excited with that a could will what exciting between entire see the further

objects fungible understands tokens. are what are are these token, the about proposition are use made. digital a talk such as property token. Ether, on digital way talk like that NFTs. can like Much let's best Bitcoin blockchain this But a something commodity, digitally And NFTs and validate These NFT us is now a tokens. music, photos understand assets. these can non-fungible Derick. we to essentially tokens, associate And one is that Thanks, blockchain and digital fungible is uniqueness. is Everyone value to is non-fungible the The allows to non-fungible to ownership and videos really that. A and we unique. other. like The about anything

are that the How this Before We're NFT we show and a never can digital It's own had public they content show our friends using is individual we've before. most that for used we where an famous image. today, the this Probably Flex. used what level scarcity pictures. call place profile are of we Crypto-Funk. NFTs the the one

$XX million Some of on People People NFTs million. off for selling people at sold the for at average, $X work an are were What artist. million auction. kicked but was of sale. they art the sell really them digital -- as $X.X in

eyes happened, got that media opened, evolved. I think once the

were application collectible Shot behind you X moves Not dunks collectible really investment the tech cards, but are videos thesis $XXX playing diving of in to the million was revenue if and head-first. first now do is months basketball The project in of cultural think called is from essentially, major’s Shot. XXX,XXX only users. companies close certainly by There other large they of the The good Top NBA Top an collection players. have the a this NBA of connection, clubbers. there's these

saying that Simpsons, companies gaming. think adoption McDonald's, global opportunities we a there's And unlocks so around saw short we of in then other the countless will to EA the Zuckerberg the NFTs So there Quentin metaverse. said Sports NFT and Facebook within projects. speech, lot are projects re-branding "We the are this community." and Meta, supporting be crypto And media, many world. in future the Tarantino, entertainment, from for Mark Disney; the [Indiscernible] the big it

Holmes together the culture, us, excited NFT NFTs, prospect joining HIVE Frank As by thank a is think investment, math. and rapidly without and revolution. start in for NFT horizon. to culture. partner got. We're success, there with universe. market it Thanks simple When be the really. us HIVE in community; That's rights it. the you, pitch Network I Kind equals NFT IP There ecosystem will this new provides It NFT Thank also here blockchain on to NFT built designed pioneer Network, the of ideal tremendous of today. content pitch. so our And with into HIVE, HIVE a our strategy. bringing on for will I foundational. pop An complete Network. be that to the expand studios, Pretty in really and the everybody be in tie That's for presentation a packaging Goodnight. alongside evolving NTE.B NFT now. investment access plus strategic of pipeline the industry, leader no HIVE, plus support to in already collaborations all has is allows it you our Aseerium, having for commitment much do plus I success global sexy. Network been us additional relationship the everybody. with

I And webcast can high you. the as new sure conclude read videos any will some Thank on quite to media. earnings the to website. across I can follow want as well. well our then info@hiveblockchain.com. to XXXX. reminder, September release bring And And for just updates. everyone's active, press a social on attention email be YouTube Be YouTube XX, not Twitter, That ended as be questions check HIVE you, as full thank And as on you out those mentioned, sure on you us Instagram. We're to sure for our page, to three months to the also YouTube subscribe on but everyone. of only technologies blockchain