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    Base claims top 3 spot in 30-day NFT volume: DappRadar

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

    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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    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

    The Future of Gambling: How Casino Sites Are Leveraging Web3

    The Future of Gambling: How Casino Sites Are Leveraging Web3

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

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

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    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

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    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

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  • NFT
    Base claims top 3 spot in 30-day NFT volume: DappRadar

    Base claims top 3 spot in 30-day NFT volume: DappRadar

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

    Blue chip NFTs sink double digits as ETH retreats from record highs

    Blue chip NFTs sink double digits as ETH retreats from record highs

    What’s Behind the Double-Digit Declines?

    What’s Behind the Double-Digit Declines?

    Telegram NFT Gifts Hit $57M in Sales as Users Rush In

    Telegram NFT Gifts Hit $57M in Sales as Users Rush In

    NFT sales drop 25% to $134m, CryptoPunks plunge 59%

    NFT sales drop 25% to $134m, CryptoPunks plunge 59%

    Ethereum Rules With $56.57M Sales, Solana and Polygon Compete

    Ethereum Rules With $56.57M Sales, Solana and Polygon Compete

    Defunct NFT lender Parallel Finance charges users $500 to withdraw assets

    Defunct NFT lender Parallel Finance charges users $500 to withdraw assets

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    KuCoin Pay Joins Forces with 2Game Digital to Drive Web3 in Gaming

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    GaFin Joins Cyber Crash to Advance Web3 Gaming

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    Buzzy Ethereum Game Football.fun Has Soccer Fans Scoring Crypto Gains

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    Stability World AI Adds Games to Transform the Future of Web3 Gaming

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    The Rise of Indian Online Casinos: Affiliates, Crypto, and Seamless Gaming?

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    Avalanche Selects Funtico to Support Indie Game Developers

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    Google Boosts Gemini AI Image Capabilities in Latest Salvo Against ChatGPT

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    How Toyota Plans to Transform Vehicle Data and Ownership with Blockchain

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    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

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    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

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    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

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    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

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    What Is Impermanent Loss? How It Works, and How to Avoid It

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

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    What Is Volatility in Crypto? Why It Happens and How to Stay Safe

    What is Cloud Mining? A Beginner’s Guide

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    What Are Bitcoin Runes and RunesDEX? – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    What Are Bitcoin Runes and RunesDEX? – Cryptocurrency News & Trading Tips – Crypto Blog by Changelly

    6 Under-$1 Utility Tokens with Real-World Use to Watch in the 2025 Bull Run

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  • Analysis
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Home Mining

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

December 8, 2023
in Mining
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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

Trump-backed Bitcoin mining firm to go public on Nasdaq next month

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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  Bitcoin Advocate Says ASIC Devices’ Inflexibility Makes AI Involvement Unlikely for Bitcoin Miners

“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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