Business
HIVE Digital Announces May 2024 Bitcoin Production, HODL Grew 3% to 2,451 Bitcoins, Maintained Positive Operating Margin After April Halving and Announces the Acquisition of 1,000 New Bitmain S21 Pro Antminers
This news release constitutes a "designated news release" for the purposes of the Company's amend...
About this update from Hive Digital Technologies Ltd
[{"type":"text","content":"HIVE Digital Announces May 2024 Bitcoin Production, HODL Grew 3% to 2,451 Bitcoins, Maintained Positive Operating Margin After April Halving and Announces the Acquisition of 1,000 New Bitmain S21 Pro AntminersThis news release constitutes a \"designated news release\" for the purposes of the Company's amended and restated prospectus supplement dated August 17, 2023, to its short form base shelf prospectus dated May 1, 2023.Vancouver, British Columbia--(Newsfile Corp. - June 10, 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 May 2024. In May the Company mined 119 Bitcoin, increasing its Bitcoin holdings by 3%, now totalling 2,451 Bitcoin on the balance sheet. HIVE maintained an average Bitcoin mining capacity of over 4.9 Exahash (\"EH/s\") in May 2024 (all amounts in US dollars, unless otherwise indicated).May 2024 Highlights:Production: Mined 119 Bitcoin in May 2024.Mining Capacity Increase: Ended May with a 5.0 EH/s ASIC mining capacity.HODL Position: Increased to 2,451 BTC, a 3% increase from the prior month, while Bitcoin has made all-time highs.Mining Efficiency: Achieved an average of 24.5 Bitcoin per Exahash, ending the month of May with 5.0 EH/s, with an average hashrate of 4.9 EH/s throughout May.Daily Production: Averaged a production of 3.8 BTC per day, showcasing operational efficiency and robust mining capabilities.Strategic HODL Increase:As of June 9, 2024, HIVE's HODL position increased further to 2,468 BTC, up from 2,451 BTC at the end of May 2024.The Company notes that with a Bitcoin HODL value of over $170 million as at June 9, 2024, its enterprise value looks very attractive compared to its peers.Executive Insights:Frank Holmes, Executive Chairman, commented on the Company's strategic vision: \"We have successfully navigated our second Bitcoin Halving event, overcoming numerous challenges over the past four years. Our team has demonstrated exceptional skill in driving high efficiency and maintaining positive operating cash flow, even during the 2022 market downturn and the unfortunate transition of Ethereum from proof-of-work to proof-of-stake. Despite significant macroeconomic headwinds, HIVE has remained resilient, consistently generat...