- HIVE produced 250 Bitcoin in the month of February from ASIC and GPU mining operations
- HIVE has approximately 2,365 Bitcoin, with a market value of over $56 million
- HIVE has installed over 4,200 BuzzMiners to date
- HIVE Blockchain Technologies provides infrastructure solutions in the blockchain industry, including the mining of digital currencies
- Shares of Hive Blockchain Technologies Ltd. (HIVE) opened trading at C$3.78
HIVE Blockchain Technology (HIVE) has announced production figures from the company’s global Bitcoin operations for the month of February 2023.
The company produced 250 Bitcoin in February and has a current BTC HODL balance of approximately 2,340 Bitcoin mined utilizing computational power sourced from green energy.
Summary:
- HIVE produced 250 Bitcoin in the month of February from ASIC and GPU mining operations, representing an average of 91 Bitcoin Per EH, with an average hashrate of 2.75 EH/s for the month of February 2023
- HIVE reached its 3 EH/s target in late February by mining at full capacity of 3,080 PH/s in late February. HIVE ended the month with 2.81 EH/s of mining capacity
- HIVE has installed over 4,200 BuzzMiners to date. HIVE has received over 5,600 Buzzminers in its data centers and continues to install them to increase overall hashrate
- HIVE expects to receive an additional 645 BuzzMiners in the next 2 months, representing a total production quantity of 6,300 BuzzMiners powered by the Intel Blockscale ASIC for the initial production run
February 2023 production figures:
- 250 BTC produced
- 8.9 BTC produced per day on average
- 2.81 Exahash of BTC Hashrate as of February 28, comprised of 2.58 Exahash of ASIC BTC hashrate and 0.23 Exahash of GPU BTC equivalent hashrate
- Monthly average of 2.75 Exahash, equal to 91 Bitcoin per Exahash, an average of 2.58 Exahash of ASIC mining capacity and an average of 170 PH/s of Bitcoin GPU mining capacity during the month
- This represents a 16% month-over-month increase in average hashrate (January was 2.38 EH/s average hashrate).
Bitcoin HODL update:
HIVE currently has approximately 2,365 Bitcoin, with a market value of over $56 million.
HIVE sold a total of 267.7 BTC for total net proceeds of $6.6 million in February 2023.
Network difficulty factors are a significant variable in the company’s gross profit margins. The Bitcoin network difficulty was 39.4T as of February 1, increasing to 43.1T as of February 28, reaching an all-time high. Accordingly, Bitcoin mining difficulty ended the month about 9% higher than at the beginning of the month.
The Bitcoin Network Difficulty is a publicly available statistic that reflects the total number of Bitcoin miners online and is important in analyzing a company’s gross profit margins and the number of Bitcoin produced.
About HIVE Blockchain Technologies Ltd.
HIVE Blockchain Technologies is in the business of providing infrastructure solutions in the blockchain industry, including the mining of digital currencies.
Shares of Hive Blockchain (HIVE) Stock opened trading at C$3.78.