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RETRANSMISSION: HIVE Digital Announces April 2024 Bitcoin Production with 5 Exahash and HODL Grown to 2,377 Bitcoin
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":"RETRANSMISSION: HIVE Digital Announces April 2024 Bitcoin Production with 5 Exahash and HODL Grown to 2,377 BitcoinThis 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. - May 8, 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 April 2024. In April the Company mined 212 Bitcoin, increasing its Bitcoin holdings by 4%, now totalling 2,377 Bitcoin on the balance sheet. HIVE maintained an average Bitcoin mining capacity of over 4.9 Exahash (\"EH/s\") in April 2024 (all amounts in US dollars, unless otherwise indicated).April 2024 Highlights:Production: Mined 212 Bitcoin in April 2024.Mining Capacity Increase: Ended April with a 5.0 EH/s ASIC mining capacity, a notable 6% increase in month-end hashrate.HODL Position: Increased to 2,377 BTC, a 4% increase from the prior month.Mining Efficiency: Achieved an average of 43.6 Bitcoin per Exahash, with a consistent average hashrate of 4.9 EH/s, and an 8% increase in monthly average hashrate.Daily Production: Averaged a production of 7.1 BTC per day, showcasing operational efficiency and robust mining capabilities.Strategic HODL Increase:As of May 6, 2024, HIVE's HODL position grew to 2,400 BTC, up from 2,377 BTC at the end of April 2024.This growth aligns with the Company's strategy to anticipate increased demand for BTC, particularly after the launch and approval of spot Bitcoin ETFs. HIVE continues to focus on maximizing cash flow return on invested capital (CFROIC) per share while being mindful of shareholder dilution. Like the last Bitcoin halving four years ago, we remain optimistic about generating operating income and continue upgrading our suite of ASIC chips for more energy-efficient Bitcoin mining. We are also excited about the progress in our high-performance computing (HPC) strategy, repurposing our suite of Nvidia chips to meet the global demand for AI data services. This growth remains on track as anticipated and, most importantly, is generating expanding positive operating income. Executive Insights...