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HIVE Digital Technologies Announces December 2024 Production Results and Strategic Milestone of 2,805 HODL Position, Up 65% Year-Over-Year
This news release constitutes a "designated news release" for the purposes of the Company's prosp...
About this update from Hive Digital Technologies Ltd
[{"type":"text","content":"HIVE Digital Technologies Announces December 2024 Production Results and Strategic Milestone of 2,805 HODL Position, Up 65% Year-Over-YearThis news release constitutes a \"designated news release\" for the purposes of the Company's prospectus supplement dated October 3, 2024 to its short form base shelf prospectus dated September 11, 2024.San Antonio, Texas--(Newsfile Corp. - January 8, 2025) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (referred to as the \"Company\" or \"HIVE\"), a global leader in sustainable blockchain infrastructure, has released its unaudited production results for December 2024 (all amounts in US dollars, unless otherwise indicated).Key Highlights for December 2024:Bitcoin Production: Mined 103 BTC, bringing HIVE's HODL portfolio to 2,805 BTC, a 64.6% increase year-over-year.Mining Capacity: Maintained an average mining capacity of 5.5 Exahash per Second (\"EH/s\") with fleet efficiency at 22 Joules per Terahash (\"J/TH\"), reaching a peak BTC only hashrate of 6.0 EH/s, and a peak BTC equivalent hashrate of 6.3 EH/s.Operational Efficiency: Achieved an average daily production rate of 3.32 BTC, equivalent to 18.8 BTC per Exahash.Bitcoin Valuation: HIVE's Bitcoin holdings were valued at over $261.9 million as of December 31, 2024, based on a BTC closing price of approximately $93,400.Strategic Developments:In December, HIVE reached 6.0 EH/s of operational hashrate, marking a 47% year-over-year growth from 4.08 EH/s at December 31, 2023. This milestone was driven by upgrading the Company's Bitcoin mining fleet with state-of-the-art Avalon machines procured from Canaan Inc., boosting both the efficiency and capacity of its operations.The Company anticipates reaching 15.0 EH/s of global hashrate capacity by the end of 2025, with a blended fleet efficiency of 17.0 J/TH upon full deployment of its 100 MW hydroelectric-powered strategic expansion in Paraguay.The Company secured highly competitive energy pricing in Sweden, adding to its hedged position with electricity costs at sub-2-cent rates per kilowatt-hour.Furthermore, HIVE announced the strategic relocation of its head office from Vancouver, Canada, to San Antonio, Texas, aiming to enhance growth and shareholder value within the U.S. market. The Company has signed a lease agreement for office space in San Antonio, Texas, marking a...