MineHub boosts Q1 revenue, cuts loss


Staff reporter

Top image :
MineHub Technologies CEO, Andrea Aranguren

Canada’s MineHub Technologies has booked 2025 Q1 revenue of C$776,000, up 127% year on year.

The company said the total included $300,000 of non-recurring revenue from a development project.

Its net loss for the period was $1.3 million compared with a $2.3m net loss in Q1 last year.

MineHub said it had 165 companies connected to its network at the end of April this year versus 102 at the same time last year. It was seeing “accelerating customer activity with several industry leaders including Codelco, Sumitomo, Surecomp and Southwire”.

CEO Andrea Aranguren said long-term opportunities for MineHub were “vast as we continue to implement our strategy of delivering enhanced value to customers and expanding our ecosystem, which are the foundation for further sales growth and profitability”.

Aranguren said MineHub achieved $4 billion of transacted cumulative gross merchandise value (GMV) on its platform in the three months ended April 30, 2024, compared with $3.2 billion of GMV for the same quarter last year.

“MineHub continued to onboard Codelco’s ecosystem partners in fiscal first quarter and has now added a total of 55 ecosystem partners with Codelco,” the company said.

 

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