Hive Digital Technologies sees uptick in Bitcoin and HODL growth in March moving to 2,287 bitcoins
Vancouver, Canada
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April 08, 2024 07:42 AM Eastern Daylight Time
Hive Digital Technologies Executive Chairman Frank Holmes joined Steve Darling from Proactive to shared its unaudited production figures for Hive Digital Technologies for March 2024, along with updates on the company's Bitcoin holdings and mining operations.
Holmes revealed that Hive Digital Technologies had approximately $160 million worth of Bitcoin on its balance sheet at the end of March 2024. The company increased its Bitcoin holdings by 10% during the month, with a HODL position of 2,287 Bitcoin on the balance sheet.
In terms of mining capacity, Hive maintained over 4.5 Exahash ("EH/s") of Bitcoin mining capacity, on average, throughout March 2024. The company successfully mined 224 Bitcoin during the month using its state-of-the-art ASIC and GPU mining operations.
Holmes highlighted that this achievement translates to an average of 49.7 Bitcoin per Exahash, showcasing the company's operational efficiency. The average hashrate remained consistent at 4.5 EH/s throughout the month, with an 11% increase in the monthly average hashrate compared to previous periods. On a daily basis, Hive averaged a production of 7.2 BTC per day, further demonstrating its robust mining capabilities.
Additionally, Holmes emphasized that Hive Digital Technologies continues to lead the blockchain technology sector, focusing on enhancing mining efficiency and expanding its green energy-powered data center facilities across Canada, Sweden, and Iceland. With a strong emphasis on financial stability, growth, and innovation, Hive aims to navigate the volatile crypto market dynamics while ensuring balanced growth and value for its stakeholders.
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