MineHub grows Q3 revenue


Staff reporter

Top image :
MineHub Technologies CEO, Andrea Aranguren

Toronto-listed MineHub Technologies says its revenue and other income nearly hit C$1 million in the three months to October 31 this year, with revenue of $0.65 million well up on last year’s $33,173 in the same period of 2022.

“During the third quarter we announced contracts with two very large customers, including Codelco, the world’s largest copper producer, and a prominent global mining company,” CEO Andrea Aranguren said.

“In addition, the company strengthened its balance sheet with the closing of a small private placement financing in the quarter.

“The outlook for MineHub looks positive with increasing sales and onboarding of customers and their ecosystem partners.”

Aranguren said revenue growth was being primarily driven by customers of Waybridge, acquired by MineHub earlier this year, and project revenue related to the roll-out of MineHub’s digitial supply chain platform and enterprise applications into a large customer’s network.

“The company achieved cumulative gross merchandise value of $9.1 billion of commodities transacted on its platform on a calendar-year basis from January 1, 2023 to October 31, 2023,” MineHub said.

“MineHub has a robust sales pipeline and demand for MineHub’s products has increased since the acquisition of Waybridge.”

 

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