HIVE Digital Technologies Mined 3,260 Bitcoins in 2023 By Investing.com
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HIVE Digital Technologies (HIVE) Mined 3,260 Bitcoins in 2023
HIVE Digital Technologies Ltd. (HIVE) is pleased to announce the summarized unaudited production figures from the Company’s global Bitcoin operations for the 2023 calendar year. Production totaled 3,260 Bitcoin mined, and hashrate increased by 100% in the 2023 calendar year, from 2 Exahash per second (“EH/s”) at the end of December 2022 to 4 EH/s at the end of December 2023 (all amounts in US dollars, unless otherwise indicated).
HIVE has maintained approximately 1% of the global Bitcoin mining network through 2023, mining an average of approximately 9 Bitcoin per day throughout the calendar year of 2023, by maintaining a growing hashrate over the course of the year, that has generally kept pace with the Bitcoin mining network hashrate growth. With the total daily block rewards of the Bitcoin mining network averaging 900 Bitcoin per day, or 328,500 Bitcoin in a calendar year, HIVE earning 3,260 Bitcoin for calendar 2023 is approximately 1% of the Bitcoin mining network.
Throughout calendar 2023 the Bitcoin mining network continued to attract more efficient ASIC machines to compete for the 900 new Bitcoin mined per day, as HIVE’S network hashrate grew from approximately 2 EH/s from the beginning of 2023 to approximately 4 EH/s at the end of 2023. Accordingly, Mining Difficulty1 also increased approximately 100% year over year, from January 1, 2023 to December 31, 2023, as per www.blockchain.com. This is how HIVE maintained approximately 1% of the total Bitcoin rewards mined in calendar 2023.
HIVE ended the 2023 calendar year with approximately $17 million in cash and a Bitcoin HODL position of 1,704 BTC. As mentioned in the Company’s December 19, 2023, news release, the Company’s HODL strategy is such that it anticipates to be able to HODL all its Bitcoin until the upcoming Halving which is expected to be in April 2024 after which the number of new Bitcoin mined per day will drop to 450 Bitcoins per day.
Bitmain S19k Pro Update
HIVE also announces that further to its news releases dated November 14, 2023, and December 4, 2023, all 9,800 of the Bitmain S19k Pro Antminers ordered by the Company have shipped. Currently approximately 70% have been installed, and it is expected that 100% of these machines will be installed before January 2024 month-end. After these miners are installed, it is expected that HIVE will have 4.8 EH/s of ASICs with an average fleet efficiency of 28.7 J/TH.
In addition, further to its news release dated December 21, 2023, upon the completion of the installation of the 7,000 Bitmain S21 Antminers ordered in December 2023, which will begin in January 2024 and is expected to be completed in June 2024, it is expected that HIVE will have an average fleet efficiency of 25 J/TH and a total of 5.6 EH/s of active mining capacity.
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HIVE Digital Technologies (HIVE) Mined 3,260 Bitcoins in 2023
HIVE Digital Technologies Ltd. (HIVE) is pleased to announce the summarized unaudited production figures from the Company’s global Bitcoin operations for the 2023 calendar year. Production totaled 3,260 Bitcoin mined, and hashrate increased by 100% in the 2023 calendar year, from 2 Exahash per second (“EH/s”) at the end of December 2022 to 4 EH/s at the end of December 2023 (all amounts in US dollars, unless otherwise indicated).
HIVE has maintained approximately 1% of the global Bitcoin mining network through 2023, mining an average of approximately 9 Bitcoin per day throughout the calendar year of 2023, by maintaining a growing hashrate over the course of the year, that has generally kept pace with the Bitcoin mining network hashrate growth. With the total daily block rewards of the Bitcoin mining network averaging 900 Bitcoin per day, or 328,500 Bitcoin in a calendar year, HIVE earning 3,260 Bitcoin for calendar 2023 is approximately 1% of the Bitcoin mining network.
Throughout calendar 2023 the Bitcoin mining network continued to attract more efficient ASIC machines to compete for the 900 new Bitcoin mined per day, as HIVE’S network hashrate grew from approximately 2 EH/s from the beginning of 2023 to approximately 4 EH/s at the end of 2023. Accordingly, Mining Difficulty1 also increased approximately 100% year over year, from January 1, 2023 to December 31, 2023, as per www.blockchain.com. This is how HIVE maintained approximately 1% of the total Bitcoin rewards mined in calendar 2023.
HIVE ended the 2023 calendar year with approximately $17 million in cash and a Bitcoin HODL position of 1,704 BTC. As mentioned in the Company’s December 19, 2023, news release, the Company’s HODL strategy is such that it anticipates to be able to HODL all its Bitcoin until the upcoming Halving which is expected to be in April 2024 after which the number of new Bitcoin mined per day will drop to 450 Bitcoins per day.
Bitmain S19k Pro Update
HIVE also announces that further to its news releases dated November 14, 2023, and December 4, 2023, all 9,800 of the Bitmain S19k Pro Antminers ordered by the Company have shipped. Currently approximately 70% have been installed, and it is expected that 100% of these machines will be installed before January 2024 month-end. After these miners are installed, it is expected that HIVE will have 4.8 EH/s of ASICs with an average fleet efficiency of 28.7 J/TH.
In addition, further to its news release dated December 21, 2023, upon the completion of the installation of the 7,000 Bitmain S21 Antminers ordered in December 2023, which will begin in January 2024 and is expected to be completed in June 2024, it is expected that HIVE will have an average fleet efficiency of 25 J/TH and a total of 5.6 EH/s of active mining capacity.
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