HIVE Ramps Up Bitcoin Mining, Hits 276 BTC in November

HIVE Digital Technologies, a cryptocurrency mining and data center operator, has announced its Bitcoin (BTC) production from November and data center acquisition details. According to the latest numbers, the company mined 276.3 BTC last month, rising from October’s dip of 265.9 BTC.

HIVE Provides Bitcoin Mining Update

The company’s latest mining numbers equate to an average of 9.2 bitcoins per day or 66.7 bitcoins per exahash of mining capacity. HIVE ended November with 4.18 exahashes per second of Bitcoin mining capacity, representing a 5.4% monthly increase.

“The Company’s HODL position at the end of November 2023 was 1,627 BTC,” HIVE commented in the official press release. “Our HODL position is down from last quarter because HIVE has been investing in new ASIC chips for our future growth and efficiency.”

Furthermore, the company has announced the recent acquisition of Bitmain S19k Pro miners, each boasting an efficiency of 23 J/TH.

The purchase of 5,000 Bitmain S19k Pro ASIC miners demonstrates our focus on growing our hash rate, while also improving our overall average fleet efficiency. This will lower and optimize our cost of production per Bitcoin ahead of the upcoming #BitcoinHalving in April 2024 with… pic.twitter.com/vsrtvjb1iz

— HIVE Digital Technologies (@HIVEDigitalTech) December 4, 2023

HIVE’s New Data Center

HIVE also acquired a data center facility in Boden, Sweden, to expand access to renewable hydroelectric power. The company acquired the property, including a 6-megawatt data center, from Turis AB in exchange for $750,000 cash and 345,566 HIVE common shares, valued at $2.8938 per share.

Aydin Kilic, the CEO of HIVE, commented that the data center acquisition furthers the company’s commitment to acquire hard assets and is expected to add 250 petahashes per second of additional bitcoin mining hashrate capacity.

“This new data center is only 200 meters from our existing data center,” added Johanna Thornblad, the Country President for HIVE Sweden.

Move to AI

The company has rebranded to adopt the rapidly evolving landscape of high-performance computing (HPC) and artificial intelligence (AI). This change signifies the company’s strategic departure from its foundational focus on cryptocurrency, steering towards the fast-expanding and increasingly adopted AI technologies.

Additionally, HIVE is realigning its priorities to maximize the potential of its Supermicro servers, aiming to provide significant computational resources to the AI and HPC sectors.