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HIVE Digital Technologies reported revenue, Ava Labs integrating web3 technologies, Axelar facilitating cross-chain communication

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  • HIVE Digital Technologies reported annual revenue of $114.5 million and adjusted EBITDA of $37.5 million for the fiscal year ended March 31, 2024, with a net loss of $51.2 million. The company also increased its Bitcoin mining ASIC hashrate by 57% and expanded into high-performance computing.
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  • Ava Labs is working on integrating web3 technologies, including non-fungible tokens (NFTs), into the K-pop industry to enhance fan engagement and ensure fair compensation for artists. The company aims to address financial transparency issues by recording exact sales figures using blockchain technology.
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  • Axelar is a decentralized network designed to facilitate secure cross-chain communication for Web3, offering a software development kit and gateway smart contracts. The network operates on a proof-of-stake consensus mechanism and enables the cross-chain transfer of various native tokens.
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