- HIVE Digital Technologies (TSXV:HIVE) reports its October 2024 production results, highlighting it had mined 117 Bitcoin
- This increases its Bitcoin holdings to 2,624 Bitcoins, representing a 51 per cent year-over-year growth.
- HIVE is also building a 100 megawatt mining facility in Paraguay as part of its goal to capture 2 per cent of global Bitcoin mining capacity
- Shares of HIVE Digital are up 2.87 per cent to C$6.46 as of 1:56 p.m. ET
HIVE Digital Technologies (TSXV: HIVE) has reported its October 2024 production results, highlighting it had mined 117 Bitcoin.
In a press release, the company stated this marks a 1 per cent increase month-over-month and brings HIVE’s total Bitcoin holdings (HODL portfolio) to 2,624 Bitcoin, representing a 51 per cent increase year-over-year.
HIVE also maintained an average mining capacity of 5.3 EH/s, with peak hashrate reaching 5.6 EH/s. The company achieved strong operational efficiency, producing an average of 3.77 BTC per day, or 22.1 BTC per Exahash.
As of Oct. 31, 2024, the value of HIVE’s Bitcoin holdings stood at over US$184 million, based on a Bitcoin price of approximately $70,215. This marks significant value growth for the company’s portfolio.
HIVE is also continuing with the construction of its 100 megawatt (MW) mining facility in Paraguay, which aims to capture 2 per cent of global Bitcoin mining capcity.
“Our team’s capital management, along with continuous upgrades to more energy-efficient ASIC chips, has enabled us to grow our Bitcoin holdings while minimizing dilution,” Frank Holmes, executive chairman of HIVE Digital, said in a statement. “The new Paraguay facility will be a key part of our growth strategy, positioning us for long-term, sustainable profitability.”
Headquartered out of Vancouver, B.C., HIVE Digital Technologies is focused on both cryptocurrency mining and high-performance computing, utilizing cutting-edge Nvidia chips to tap into the AI super cycle. The company’s green-energy-powered data centers are located in Canada, Sweden, and Iceland.
Shares of HIVE Digital are up 2.87 per cent to C$6.46 as of 1:56 p.m. ET.
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(Top image: HIVE Digital Technologies)