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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Too Early? ‘Networked’ Fashion Label 9dcc Is Shutting Down

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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Hive Digital says BTC miners bought last Dec have already paid themselves off

December 8, 2023
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Hive Digital says BTC miners bought last Dec have already paid themselves off
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Hive Digital made a sizeable ASIC miner purchase in December 2022. Just one year later, thanks to a Bitcoin boom, the crypto miner says the rigs have paid for themselves.

READ ALSO

Cango’s Remarkable Growth Adds 109.1 BTC

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miner Hive Digital Technologies says the move to acquire a fleet of Bitmain mining rigs last year has already paid for itself, due in large part to a significant increase in the price of Bitcoin.

In a Dec. 8 statement, Hive Digital wrote that it had been acquiring mining rigs since the collapse of FTX, a decision it believes will put it in a favorable position for the upcoming Bitcoin halving, currently slated for April 2024

276.3 Bitcoin produced from ASIC and GPU mining operations, representing an average of 66.7 Bitcoin Per Exahash
Produced an average of 9.2 BTC per day
Ended the month with 4.18 EH/s of mining capacity,… pic.twitter.com/4pWYah2NfD

— HIVE Digital Technologies (@HIVEDigitalTech) December 7, 2023

Hive purchased a total of 3,750 Bitmain S19J rigs on Dec. 22, 2022, with President and COO Aydin Kilic saying the team had also updated its software stack to accommodate the new rigs.

S19J mining rigs were the top-of-the-line ASIC rigs in 2022, but have since been succeeded by the S19Ks, which boast a lower energy consumption rating than their predecessors.

“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.”

Overall, since the collapse of FTX, Hive Digital has purchased 29,000 ASICs, with two separate acquisitions of 9,800 Bitmain S19k Pro mining rigs announced on Nov. 14 and Dec. 4 this year.

See also  With Just 0.0004% of Bitcoin’s Hashpower, Solo Miner’s 2 PH/S Effort Secures Block Reward

“The approximately 29,000 ASICs were purchased at an average price of approximately $13.70/TH,” wrote Hive Digital, describing the acquisition price as attractive considering the rigs have an average output of 26 J/TH.

Hive Digital said the recent acquisitions of mining rigs have seen its global fleet efficiency rise to a rate of 28.9 J/TH with an expected operating hash rate of 4.8 EH/s by the end of December 2023.

Additionally, Hive reported that it had produced 276.3 Bitcoin in November 2023 from ASICs and GPUs, representing an average of 66.7 Bitcoins per Exahash.

Since Jan. 1 this year, Bitcoin has grown more than 160%, resulting in a boon for miners, many of which struggled through a particularly difficult crypto winter spanning from the end of 2021 and running through all of 2022.

Bitcoin is currently changing hands for $43,400, up 9.8% in the last seven days, per Cointelegraph price data.

Additionally, Hive reported that it had produced 276.3 Bitcoin in November 2023 from ASICs and GPUs, representing an average of 66.7 Bitcoins per Exahash.

Since Jan. 1 this year, Bitcoin has grown more than 160%, resulting in a boon for miners, many of which struggled through a particularly difficult crypto winter spanning from the end of 2021 and running through all of 2022.

Bitcoin is currently changing hands for $43,400, up 9.8% in the last seven days, per Cointelegraph price data.

Tags: BoughtBTCDecdigitalHIVEMinersPaid

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