- HIVE Blockchain stock (TSXV:HIVE) dipped into the red after releasing unaudited Bitcoin production figures for June 2023
- The company generated 259 Bitcoin from ASIC and GPU mining at an average of 8.6 BTC per day and an average hashrate of 3.38 EH/s
- Its Bitcoin balance reached 1,957 as of July 1
- HIVE Blockchain Technologies is the first cryptocurrency mining company listed for trading on the TSXV with a sustainable green energy focus
- HIVE Blockchain stock (TSXV:HIVE) was down 2.72 per cent to $7.16 per share in early morning trading
HIVE Blockchain stock (TSXV:HIVE) dipped into the red after releasing unaudited Bitcoin production figures for June 2023.
June production highlights
- Generated 259 Bitcoin from ASIC and GPU mining operations at an average of 8.6 BTC per day and an average hashrate of 3.38 EH/s (3.212 EH/s of ASIC and 167 PH/s of GPU)
- 246 BTC produced from ASIC at 76.6 BTC/EH and an average hashrate of 3.2 EH/s following a recent chip upgrade
- Approximately 4.6 per cent month-over-month (MoM) end increase in ASIC hashrate and a 3 per cent MoM increase in hashrate from ASIC and GPU combined
- The company’s Bitcoin balance stood at 1,957 as of July 1
- Figures were slightly down from May because of volatile Bitcoin network mining difficulty, which fluctuates depending on the total number of operating Bitcoin miners
HIVE remains committed to continuing production during crypto market volatility by self-curtailing part of its operations if unhedged spot energy prices are uneconomical.
“Since our June month end, our ASIC hashrate reached 3.4 EH/s in the first week of July, and is expected to continue to grow this month, as the majority of our 1.26 EH/s of ASICs which were previously announced have been shipped, and we are continuing to install them in our data centers upon delivery,” Aydin Kilic, HIVE’s President and CEO, said in a news release. “We expect to provide updates on our growing hashrate capacity as we work towards our interim goal of 4 EH/s, and moreover, we are actively evaluating opportunities in the market for our year-end goal of 6 EH/s.”
HIVE Blockchain Technologies is the first cryptocurrency mining company listed for trading on the TSXV with a sustainable green energy focus. It owns green energy-powered data centres in Canada, Sweden and Iceland to mine digital assets. Its shares provide investors with exposure to the operating margins of digital currency mining as well as a portfolio of Bitcoin.
HIVE Blockchain stock (TSXV:HIVE) was down 2.72 per cent to $7.16 per share in early morning trading.
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