HIVE Blockchain - Executive Chairman, Frank Holmes.
Executive Chairman, Frank Holmes.
Source: U.S. Global Investors.
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  • HIVE (HIVE) has released December and calendar year 2021 production figures
  • December mining includes 245 BTC and 2,178 ETH
  • Calendar 2021 mining includes 1,768 BTC and 41,966 ETH
  • The company is holding 1,813 BTC as of December 31, 2021
  • HIVE Blockchain Technologies mines for Bitcoin and Ethereum with facilities in Canada, Sweden and Iceland
  • HIVE (HIVE) is down by 3.79 per cent trading at $2.79 per share

HIVE (HIVE) has released December and calendar year 2021 production figures.

December 2021 production

  • Mined 245 BTC at 1.7 exahash of mining capacity
  • Mined 2,178 ETH at 4.45 terahash of mining capacity

Calendar 2021 production

  • 1,768 BTC
  • 41,966 ETH, a portion of which were sold to upgrade chips
  • 46,209 ETC sold
  • The company is holding 1,813 BTC as of December 31, 2021

HIVE mined coins with a year-end gross dollar value of approximately US$221 million (unaudited) using market prices of BTC US$43,000 and ETH US$3,400.

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Production grew after an ASICs deployment at its New Brunswick data center, which now runs on 50 MW of operating capacity. The next phase of expansion will bring it to 70 MW by spring 2022.

“We are very pleased to report HIVE has continued its strong momentum in expanding our Bitcoin hashing power even as the network difficulty rose,” stated Frank Holmes, HIVE’s Executive Chairman. “As of today, we are producing approximately 8.8 BTC a day.”

“Our Bitcoin hashing power increased in December and at the calendar year-end our hashrate was 1.7 exahash,” he added, “which translated into a 12 per cent increase in BTC mining on a month-over-month basis, while BTC prices corrected.”

“The company believes its unique position of having a large Bitcoin and Ethereum mining footprint provides investors with a unique value proposition,” stated Aydin Kilic, HIVE’s President and COO.

“Where one can equate hashrate on a revenue basis between BTC and ETH, you can also equate the value of the coins daily,” he added. “As such, the ETH that HIVE produced during the month of December is approximately equal in value to producing a monthly total of 179 BTC, which we refer to as Bitcoin equivalent or BTC equivalent.”

December 2021 Bitcoin equivalent production 

  • 423 BTC equivalent produced
  • 13.6 BTC equivalent of daily average production
  • 2.6 exahash of BTC equivalent hashrate

HIVE Blockchain Technologies mines for Bitcoin and Ethereum with facilities in Canada, Sweden and Iceland.

HIVE (HIVE) is down by 3.79 per cent trading at $2.79 per share as of 10:36 am EST.

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