01:26 PM EDT, 06/25/2024 (MT Newswires) -- HIVE Digital Technologies ( HIVE ) on Tuesday said it swung to a loss in the fiscal fourth quarter even as revenue doubled.

The bitcoin miner on Monday reported a loss of US$3.5 million ($4.8 million), or US$0.03 per share, in the quarter ended March 31, compared with a profit of US$6.7 million, or US$0.08, a year earlier.

Revenue rose to US$36.9 million, up from US$18.2 million a year earlier. Revenue from digital currency mining for the quarter was US$35.1 million, up from US$18 million a year ago.

Digital assets mined - Bitcoin during fiscal Q4 was 658, down from 792 a year earlier.

Adjusted EBITDA for the quarter was US$16.2 million, compared with an adjusted EBITDA loss of US$1.3 million a year earlier.

The company's shares were last seen up $0.22 to $4.20 on the TSX Venture Exchange.

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