Business
RETRANSMISSION: HIVE Digital Provides November 2023 Production Update and Completes Acquisition of Data Center Facility Located in Sweden to Expand Our Sourcing of Clean Hydro Electricity
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":"RETRANSMISSION: HIVE Digital Provides November 2023 Production Update and Completes Acquisition of Data Center Facility Located in Sweden to Expand Our Sourcing of Clean Hydro ElectricityThis news release constitutes a \"designated news release\" for the purposes of the Company's prospectus supplement dated May 10, 2023 to its short form base shelf prospectus dated May 1, 2023.Vancouver, British Columbia--(Newsfile Corp. - December 7, 2023) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the \"Company\" or \"HIVE\") a leading digital asset miner and \"green\" focused data center builder and operator is pleased to announce the unaudited production figures from the Company's global Bitcoin operations for the month of November 2023, with 276.3 Bitcoin produced in November. Further to its announcement on November 27, 2023, it has completed its acquisition (the \"Acquisition\") from Turis AB (the \"Vendor\") of a data center and the real property (together, the \"Property\") on which it is situated, located in the city of Boden, Sweden (all amounts in US dollars, unless otherwise indicated).Summary Overview:HIVE produced 276.3 Bitcoin in the month of November, from ASIC and GPU mining operations, representing an average of 66.7 Bitcoin Per Exahash;HIVE produced an average of 9.2 BTC per day in November 2023;HIVE ended the month with 4.18 EH/s of mining capacity, including ASIC and GPU BTC hashrate, a 5.4% month over month increase as we continue to increase both our efficiency and growth plans;HIVE had a November monthly average hashrate of 4.14 EH/s which is a 5.2 % increase from October which was 3.94 EH/sThe Company's HODL position at the end of November 2023 was 1,627 BTC. Our HODL position is down from last quarter because HIVE has been investing in new ASIC chips for our future growth and efficiency.Investing In The Future With Recap of Our ASIC Capex For Past 12 Months Towards 6.0 ExahashThe Company notes that it has recently purchased a total of 9,800 Bitmain S19k Pro miners which have a machine efficiency of 23 J/TH.Since the collapse of FTX in November 2022, which marked Bitcoin heading into a year long bear-market, HIVE has used the opportunity to acquire new generation ASICs at attractive $/TH prices.Notably, in this period, HIVE has purchased approximately 3.35 Exahash of new generation Bitcoin m...