While cryptocurrency miner HIVE Blockchain (NASDAQ:HIVE) jumped as much as 10% in premarket trading on Monday, the company's stock ended the day up 1.8% after posting net income of $18.6M in fiscal Q1 2022. This compares with just $4.3M in the prior quarter and $1.8M in Q1 a year ago. "We're lowering costs and maximizing our existing electrical and infrastructure capacity by installing new mining equipment as the orders roll in," Interim Executive Chairman Frank Holmes said in the conference call. Gross mining margin expanded to $31M vs. $27.7M in Q4 and just $2.6M in Q1 of last year. Q1 hosting revenue also jumped to $1.7M, compared with $410K in Q4. For September, HIVE mined approximately 221 bitcoin (BTC-USD), which is equivalent to $10.2M of revenue and 2,572 etherum (ETH-USD), or $8.6M in revenue, Aydin Kilic president and chief operating officer said. The total equivalent of BTC mined on a
