HIVE
Blockchain Technologies Ltd. (HIVE), a dual-listed crypto mining company, has
reported its Bitcoin (BTC) production statistics for January, showing a
modestly lower number of mined assets when compared to the same period last
year.
According
to Tuesday’s press release, HIVE mined 260 BTC in January 2023, 1.5% lower
compared to 264 BTC a year earlier. On a monthly basis, the January numbers are
21% higher than in December 2022, when HIVE produced 214 BTC. The average daily
production came in at 8.4 BTC per day.
HIVE notes
that the current mining numbers are consistent with previous results due to the
increasing Bitcoin mining difficulty, which went up by around 60%. Moreover,
the company was able to increase the current ‘BTC HODL’ balance to 2430, which
translates to a 20% jump on a year-over-year basis from 2043.
“We
are very happy to have overcome several big headwinds over the past year such
has Bitcoin prices falling 50%, the Global Difficulty surging 50% which means
fewer coins mined unless you increase both the efficiency of ASIC chips and
number of machines mining which HIVE has done,” Frank Holmes, Executive
Chairman of HIVE, stated.
Large Upgrades in HIVE
data centers
HIVE
upgraded its data centers by deploying over 6,700 new-generation ASIC miners, a
significant improvement in the company’s history aimed at enhancing fleet
efficiency and boosting gross mining margins.
What…
