Hive Digital Technologies Reports Strong Bitcoin Production and Expands Mining Capacity
Vancouver, Canada
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July 09, 2024 11:20 AM Eastern Daylight Time
Hive Digital Technologies Executive Chairman Frank Holmes joined Steve Darling from Proactive to discuss the company's unaudited production figures for June. The company reported mining 119 Bitcoin during the month, increasing its Bitcoin holdings by 2%, bringing the total to 2,496 Bitcoin on the balance sheet. Hive maintained an impressive average Bitcoin mining capacity of over 4.7 Exahash ("EH/s") in June. With a Bitcoin HODL value exceeding $140 million as of July 7, the company’s enterprise value appears very attractive compared to its peers.
Holmes shared that the company has received confirmation that the remaining batch of its S21 orders are ready to ship and have been upgraded to S21 Pro models. This upgrade represents approximately 1,150 S21 Pro miners from Hive's original order placed in December. Additionally, the new purchase of 1,000 S21 Pro miners, announced in the May production report, are also ready to ship.
With the deployment of these new machines, Hive Digital Technologies anticipates a significant boost in its total operational hashrate, expected to reach 5.5 EH/s once fully installed. The global fleet efficiency is projected to improve to 24.5 J/TH. The company plans to have these new machines installed and operational before the end of July.
These advancements underscore Hive's commitment to expanding its mining capacity and optimizing its operations, positioning the company for continued growth and increased competitiveness in the rapidly evolving cryptocurrency mining industry.
Contact Details
Proactive North America
+1 604-688-8158
