HIVE
Blockchain Technologies Ltd., a publicly-listed crypto mining company, has
announced that it produced 282 Bitcoin in March 2023 from ASIC and GPU mining
operations. The numbers if visibly higher from February’s results, when
HIVE mined 250 BTC.
HIVE Blockchain Mines More
Bitcoins in March 2023
The
increase in production took place despite the appreciation of the difficulty of
mining cryptocurrencies. The Bitcoin network difficulty increased to 46.8
trillion during March, reaching an all-time high. Accordingly, Bitcoin mining
difficulty ended the month about 9% higher than at the beginning of the month.
The
company’s current BTC balance is approximately 2,310, and it produced an
average of 9.1 BTC per day last month. The company has received over 5,600
BuzzMiners in its data centers, all of which are operating. In addition, HIVE
ended the month with 3.36 EH/s of mining capacity, including ASIC and GPU BTC
hash rate, and sold all of the Bitcoin earned from its GPU mining hash rate
payouts.
Although
the number of Bitcoins in the inventories is falling for the second month in a row,
HIVE is increasing its output possibilities. Accordingly, it sells cryptocurrencies
to cover its ongoing business costs and further investments. In February, the
crypto miner produced BTC at a monthly average of 2.75 EH/s compared to January’s
2.38 EH/s average hash rate.
HIVE is
ramping up mining at a time…
