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HIVE Digital Announces 116 Bitcoin Produced in July 2024, HODL Grew 2% to 2,533 Bitcoins
Vancouver, British Columbia--(Newsfile Corp. - August 2, 2024) - HIVE Digital Technologies Ltd. (...
About this update from Hive Digital Technologies Ltd
[{"type":"text","content":"\nHIVE Digital Announces 116 Bitcoin Produced in July 2024, HODL Grew 2% to 2,533 BitcoinsVancouver, British Columbia--(Newsfile Corp. - August 2, 2024) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the \"Company\" or \"HIVE\") a pioneer in green energy-powered blockchain infrastructure, proudly announces its unaudited production figures for July 2024. In July the Company mined 116 Bitcoin, increasing its Bitcoin holdings by 2%, now totalling 2,533 Bitcoin on the balance sheet. HIVE maintained an average Bitcoin mining capacity of over 4.7 Exahash (\"EH/s\") in July 2024 (all amounts in US dollars, unless otherwise indicated).July 2024 Highlights:Production: Mined 116 Bitcoin in July 2024.Mining Capacity Maintained: Ended July with a 4.9 EH/s ASIC mining capacity.HODL Position: Increased to 2,533 BTC, a 2% increase from the prior month. Mining Efficiency: Achieved an average of 24.6 Bitcoin per Exahash, ending the month of July with 4.9 EH/s, with an average hashrate of 4.7 EH/s throughout July.Daily Production: The company averaged 3.7 BTC per day, showcasing operational efficiency and robust mining capabilities.Strategic HODL Increase:The Company notes that with a Bitcoin HODL value of over $164 million as of July 31, 2024, its enterprise value looks very attractive compared to its peers.Executive Insights:Aydin Kilic, President and CEO stated: \"We have made three purchases of new generation ASICs to prepare for the Bitcoin halving which occurred in April 2024. These purchases include 7,000 Bitmain S21 Antminers at 200 terahash per second (\"TH/s\") each with 17.5 joules per Terahash (\"J/TH\") efficiency and 2,500 S21 Pro Antminers at 234 TH/s each and 15 J/TH efficiency. These purchases represent approximately 2 EH/s of Bitcoin mining capacity with the industry's newest and most efficient hardware. We are pleased to note all of these 9,500 ASIC miners have been delivered. As of press time, approximately 8,400 of these ASIC miners have been installed at our facilities in New Brunswick and Sweden, with the remaining 1,100 ASIC miners expected to be installed this week. This will bring our total installed Bitcoin mining capacity to 5.5 EH/s with a global average fleet efficiency of 24.5 J/TH.We may elect to use firmware optimizations to downclock the power consumption of our legacy 30 J/TH ASIC model...