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RETRANSMISSION: HIVE Digital Announces Bitcoin Production and HODL Growth in February 2024 to 2,131 Bitcoins
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 Bitcoin Production and HODL Growth in February 2024 to 2,131 BitcoinsThis 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. - March 6, 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 February 2024. The Company has increased its Bitcoin holdings by 10% and its HODL position at month end was 2,131 Bitcoin on its balance sheet. The Company has maintained over 4.06 Exahash (\"EH/s\") of Bitcoin mining capacity on average for February 2024.February 2024 Highlights:Production: HIVE successfully mined 200 Bitcoin in February 2024, utilizing its state-of-the-art ASIC and GPU mining operations. This achievement represents an impressive average of 60.5 Bitcoin per Exahash, with a consistent average hashrate of 4.06 EH/s throughout the month.Daily Production: The Company averaged a production of 6.9 BTC per day, underscoring its operational efficiency and robust mining capabilities.Mining Capacity Increase: HIVE concluded February with a 4.2 EH/s ASIC mining capacity, reflecting a notable 9% increase month over month. The Company's HODL position at the end of February 2024 was 2,131 BTC, which was a 10% increase from the prior month.Strategic HODL Increase:As of March 4, 2024, HIVE's HODL position increased further to 2,159 Bitcoin, up from 2,131 BTC at the end of February 2024.This continuing increase aligns with the Company's strategy to strive to HODL, anticipating heightened demand for Bitcoin due to the adoption of Bitcoin as an alternative asset class as witnessed with stunning fund flows into the recent launching of Bitcoin ETF's. We believe as we approach the Halving event in April, the short-term volatility will remain high, and investors must be aware that HIVE like our peers are usually correlated with Bitcoin but with a greater amplitude in price volatility.Executive Insights:Frank Holmes, Executive Chairman, emphasized HIVE's strategic foresight, stating, \"Our HODL strategy is to have a healthy balance sheet si...