The collapse in Bitcoin had come as a shock to many crypto-related stocks and one of those was the Hive Blockchain (OTCMKTS:HVBTF) (CVE:HIVE) stock.
Last week the stock had declined by 24% on the back of the crypto market meltdown, but yesterday the stock recovered owing to the recovery of Bitcoin to $40000 and rallied by 15.35%. In this context, it might be a good idea for investors to take a look at Hive’s performance in the fiscal third quarter of 2021.
The company generated a crypto mining income of $13.7 million, which reflected a year-on-year rise of 174%, and on a sequential basis it worked out to a rise of 5%. In addition to that, the company’s cash flow soared as well and hit $13.7 million, which was considerably higher than the $5.7 million in cash flow it had generated in the prior-year period. It could be a stock worth watching in the coming days.