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RETRANSMISSION: HIVE Digital Technologies Reports September 2024 Performance: 112 Bitcoin Mined, HODL Portfolio Reaches 2,604 Bitcoin a Growth of 50% over 12 Months
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 Technologies Reports September 2024 Performance: 112 Bitcoin Mined, HODL Portfolio Reaches 2,604 Bitcoin a Growth of 50% over 12 MonthsThis 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.Vancouver, British Columbia--(Newsfile Corp. - October 4, 2024) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the \"Company\" or \"HIVE\") a leading innovator in sustainable blockchain infrastructure, is pleased to announce its unaudited production results for September 2024. The company mined 112 Bitcoin, increasing its HODL portfolio by 1.4%, on a month over month basis, reaching a total of 2,604 BTC. HIVE maintained strong Bitcoin mining capacity, ending the month with 5.6 Exahash per second (EH/s) and an average capacity of over 5.3 EH/s, utilizing primarily hydroelectric power (all amounts in US dollars, unless otherwise indicated).September 2024 Highlights:Bitcoin Production: 112 Bitcoin mined in September.Mining Capacity: Reached an ASIC mining capacity of 5.6 EH/s, demonstrating a fleet efficiency of 23 joules per terahash (J/TH).HODL Expansion: Increased Bitcoin holdings to 2,604 BTC, a 1.4% growth from the previous month.Operational Efficiency: Averaged 21.1 Bitcoin per Exahash, with a consistent average hashrate of 5.3 EH/s, resulting in a daily production rate of 3.73 BTC.Strategic Bitcoin Holdings:With a Bitcoin HODL valued at over $160 million as of September 30, 2024, HIVE highlights its attractive enterprise value compared to peers in the industry.Executive Insights:Frank Holmes, Executive Chairman, commented, \"September was a productive month, which included our sponsorship of major blockchain events in Europe. HIVE is also listed in Germany. We're progressing well with our growth plan in Paraguay, with a goal to be 2% of the Bitcoin mining network by late 2025, which equates to around 9 Bitcoin produced daily. By the end of September, we were already achieving over 4 Bitcoin per day.\"Aydin Kilic, President and CEO, added, \"Our primary focus is on upgrading our ASIC fleet, currently operating at 128 MW. Over the next six months, we'll be enhancing efficiency by replacing older ASICs with S21 Pro models. This upgrade is exp...