Hive said hedging its energy contracts, selling power back to the grid, and optimizing its operating capacity to focus on maximum profit per KWHR helped it realize a profit from mining operations in the third quarter of 2022. During this period, it reportedly mined 787 Bitcoin, with a 25% Gross Mining Margin representing $3.62 million of income. The Vancouver-based cryptocurrency miner recorded a net loss of over $90 million as a result of the “impairment from the value of ASIC and GPU chips declining”
Source: Chayanika Deka, 2023-02-26; https://cryptopotato.com/crypto-miner-hive-blockchain-posted-net-loss-of-90-4m-for-q3-2022/