HIVE Digital Applied sciences Experiences Might 2024 Manufacturing

This information launch constitutes a “designated information launch” for the needs of the Firm’s amended and restated prospectus complement dated August 17, 2023, to its quick kind base shelf prospectus dated Might 1, 2023.

HIVE Digital Applied sciences Ltd. (HIVE) proudly publicizes its unaudited manufacturing figures for Might 2024. In Might the Firm mined 119 Bitcoin, rising its Bitcoin holdings by 3%, now totalling 2,451 Bitcoin on the stability sheet. HIVE maintained a mean Bitcoin mining capability of over 4.9 Exahash (“EH/s”) in Might 2024 (all quantities in US {dollars}, except in any other case indicated).

Might 2024 Highlights:

• Manufacturing: Mined 119 Bitcoin in Might 2024.
• Mining Capability Improve: Ended Might with a 5.0 EH/s ASIC mining capability.
• HODL Place: Elevated to 2,451 BTC, a 3% improve from the prior month, whereas Bitcoin has made all-time highs.
• Mining Effectivity: Achieved a mean of 24.5 Bitcoin per Exahash, ending the month of Might with 5.0 EH/s, with a mean hashrate of 4.9 EH/s all through Might.
• Every day Manufacturing: Averaged a manufacturing of three.8 BTC per day, showcasing operational effectivity and strong mining capabilities.

Strategic HODL Improve:

As of June 9, 2024, HIVE’s HODL place elevated additional to 2,468 BTC, up from 2,451 BTC on the finish of Might 2024.

The Firm notes that with a Bitcoin HODL worth of over $170 million as at June 9, 2024, its enterprise worth seems very enticing in comparison with its friends.

Government Insights:

Frank Holmes, Government Chairman, commented on the Firm’s strategic imaginative and prescient:

“Now we have efficiently navigated our second Bitcoin Halving occasion, overcoming quite a few challenges over the previous 4 years. Our staff has demonstrated distinctive ability in driving excessive effectivity and sustaining optimistic working money stream, even in the course of the 2022 market downturn and the unlucky transition of Ethereum from proof-of-work to proof-of-stake. Regardless of vital macroeconomic headwinds, HIVE has remained resilient, constantly producing optimistic working revenue. We proceed to judge development alternatives with a concentrate on lean operations, worthwhile mining, sourcing inexperienced vitality which has been an enormous problem, and striving for the most effective money stream return on invested capital per share (CFROIC) for our shareholders. I’m extremely happy with our staff and their unwavering dedication.”

Operational Replace:

Aydin Kilic, President and CEO, emphasised the Firm’s technological stability: “We ended the month of Might with 5.0 EH/s and we’re on monitor to achieve our 5.5 EH/s interim aim and obtain a world common fleet effectivity of 25 Joules per Terahash (J/TH) as soon as our remaining S21 Antminers (“S21s”) ship. To date, from our whole order amount of 8,165 S21s, 6,495 S21s have been shipped and put in. Of the remaining 1,670 S21s, 428 S21s are transport this week, leaving 1,242 S21s from our June batch, that are anticipated to ship quickly.”

We’re additionally strategically optimizing the firmware of our fleet to enhance the effectivity of our 30 J/TH ASICs, getting their effectivity beneath 30 J/TH. Whereas this has lowered the entire hashrate from these machines throughout our fleet by roughly 120 Petahash per second, it has improved their effectivity, thus enhancing their unit economics and making them extra worthwhile on a greenback per kilowatt hour foundation.

Luke Rossy, Chief Working Officer, had the next so as to add: “We’re happy to announce the upcoming acquisition of 1,000 Bitmain S21 Professional Antminers, the newest and most effective machines available on the market, having a hashrate of 234 Terahash per second and an effectivity of 15 J/TH. These models are anticipated to ship this month and are integral to our technique of regularly upgrading our fleet while rising our HODL place.”