HIVE Blockchain - Frank Holmes, Executive Chairman.
Frank Holmes, Executive Chairman.
Source: HIVE Blockchain.
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  • July production totalled 279.9 BTC and 2,957 ETH
  • Bitcoin mining capacity increased to 2.26 Exahash in July
  • HIVE Blockchain Technologies mines for Bitcoin and Ethereum with facilities in Canada, Sweden and Iceland
  • Shares of Hive Blockchain Technologies Ltd. (HIVE) opened trading at C$6.31

HIVE Blockchain Technologies (HIVE) has provided production figures from its Bitcoin and Ethereum mining operations for July 2022.

As of August 4, the company holds a balance of 3,091 Bitcoin and 6,820 Ethereum.

July 2022 production

  • 279.9 BTC produced
  • 2.2 Exahash of Bitcoin mining capacity at beginning of July
  • Increased to 2.26 Exahash of Bitcoin mining capacity during the month of July, with an average hashrate of 2.03 Exahash of Bitcoin mining capacity during the month of July
  • 2,957 ETH Produced
  • 5.77 Terahash of Ethereum mining capacity at beginning of July, some miners were taken offline temporarily for layout optimization due to higher summer temperatures
  • 6.49 Terahash of Ethereum mining capacity at end of July, with an average hashrate of 6.19 Terahash of Ethereum mining capacity during the month of July

Frank Holmes, Executive Chairman of HIVE, commented on the results.

“In July we produced an average of 15.0 Bitcoin Equivalent per day, comprised of approximately 9.0 BTC per day and our Ethereum production of approximately 95 Ethereum per day. We are pleased to note that as of today, we are producing approximately 10 BTC a day in addition to approximately 95 Ethereum per day.”

Aydin Kilic, President & COO of HIVE added,

“We continue to strive for operational excellence, ensuring that as we scale our hashrate, we also optimize our uptime, to ensure ideal Bitcoin and Ethereum output figures.” Mr. Kilic continued, “We also would like to provide an update on the BTC and ETH equivalency, where one can equate value of the coins produced daily. As such the ETH that HIVE produced during the month of July, equated on a daily basis, is approximately equal a monthly total of 185.2 BTC, which we refer to as Bitcoin Equivalent or BTC Equivalent. This is in addition to the 279.9 BTC produced from our Bitcoin mining operations during July, for a total of 465.1 Bitcoin equivalent”

The company’s total Bitcoin equivalent production in July 2022:

  • 465.1 BTC Equivalent produced
  • 15.0 BTC Equivalent produced per day on average
  • 3.77 Exahash of BTC Equivalent hashrate (BTC hashrate plus equivalent ETH hashrate) as of July 31), with average hashrate of 3.36 Exahash of BTC Equivalent hashrate throughout July

The Bitcoin network difficulty decreased 6.5 per cent during the month of July. The Ethereum network difficulty had a sudden difficulty decrease of almost 20 per cent at the end of June, which was followed by a slight and gradual increase of 1.6 per cent during the month of July. These factors impact our gross profit margins.

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

Shares of Hive Blockchain Technologies Ltd. (HIVE) opened trading at C$6.31.


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