HIVE Digital revealed its November 2024 manufacturing outcomes, together with 103 BTC mined and a 67% year-over-year progress in its Bitcoin holdings.
Bitcoin (BTC) mining agency HIVE Digital launched its November 2024 manufacturing outcomes, reporting a 67% improve in its BTC holdings in comparison with the earlier 12 months. In a Dec. 9 press launch, the agency revealed it had mined 103 BTC in November, bringing its complete HODL portfolio to 2,713 BTC as of Nov. 30.
When it comes to mining capability, HIVE maintained a mean of 5.3 EH/s, with the agency’s peak hashrate for the month reaching 5.7 EH/s. As of the tip of November, HIVE’s Bitcoin holdings have been valued at roughly $261 million, primarily based on a BTC closing value of $96,400.
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In the course of the previous month, HIVE additionally expanded its mining operations, buying 11,500 Avalon ASIC miners from Canaan Inc. and eight.6 EH/s of Bitmain’s S21+ Hydro machines. The deal is a part of the agency’s plan to achieve a complete mining capability of 15 EH/s by the summer time of 2025, with the acquisition anticipated to generate over $300 million in annual income as soon as absolutely deployed.
Frank Holmes, government chairman of HIVE, mentioned the agency’s latest growth is a step towards its aim “to seize 2% of the worldwide Bitcoin community.” HIVE Digital CEO Aydin Kilic mentioned the agency is on observe to enhance its fleet effectivity and scale back manufacturing prices, including that when the brand new tools is absolutely operational, HIVE expects to attain a blended fleet effectivity of 17 J/TH.
Following the information, HIVE Digital shares (HIVE) soared 6.1%, leaping to $4.35, in line with knowledge from Nasdaq.
Learn extra: HIVE Digital acquires 6500 ASIC miners, begins Paraguay facility development
