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HIVE Digital Applied sciences Ltd. (HIVE) is happy to announce its unaudited manufacturing outcomes for August 2024. The Firm efficiently mined 112 Bitcoin, boosting its complete Bitcoin holdings by 1%, bringing the stability to 2,533 BTC. HIVE additionally introduced the acquisition of 1,000 Bitmain S21 Professional Antminers for quick supply to improve its present suite of machines, enhancing general mining effectivity and capability. HIVE maintained a powerful common Bitcoin mining capability of over 5.0 Exahash per second (“EH/s”) all through the month, all whereas persevering with its dedication to inexperienced vitality by primarily sourcing hydroelectricity to energy its information facilities (all quantities in US {dollars}, except in any other case indicated).
August 2024 Highlights:
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Manufacturing: Mined 112 Bitcoin in August 2024.
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Mining Capability Maintained: Concluded the month with a 5.3 EH/s ASIC mining capability, reaching a blended fleet effectivity of 23 joules per terahash (“J/TH”).
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HODL Place: Elevated Bitcoin holdings to 2,533 BTC, reflecting a 1% progress from the earlier month.
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Mining Effectivity: Averaged 22.4 Bitcoin per Exahash, ending August with a 5.3 EH/s capability and a constant common hashrate of 5.0 EH/s.
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Each day Manufacturing: Averaged 3.6 BTC per day, highlighting operational effectivity and sturdy mining capabilities.
Strategic HODL Improve:
HIVE emphasizes that with a Bitcoin HODL worth exceeding $164 million as of August 31, 2024, the Firm’s enterprise worth stays compelling in comparison with trade friends.
Government Insights:
Frank Holmes, Government Chairman, commented, “We stay centered on our technique of sustaining the bottom G&A bills per Bitcoin mined, maximizing money move return on invested capital, and reaching excessive income per worker whereas minimizing share dilution. Our disciplined method, supported by a world crew working throughout 9 time zones, positions HIVE as one of many leanest Bitcoin mining operations with a pretty EV to EBITDA a number of, holding over 2,500 clear and inexperienced Bitcoin on our stability sheet.”
Aydin Kilic, President and CEO added, “Over the previous month, we have now optimized our fleet’s efficiency, reaching a median hashrate of roughly 5.2 EH/s by fine-tuning the firmware of our 30 J/TH machines, bettering their effectivity to 27-28 J/TH. This has led to a world fleet effectivity of roughly 23 J/TH. We plan to proceed this optimization over the following 9 months, upgrading our remaining 30 J/TH ASICs. This can improve our put in hashrate at present services to six.9 EH/s with a blended fleet effectivity of 19 TH/s.”
He additional famous, “To help this technique, we have now acquired 1,000 Bitmain S21 Professional Antminers for quick supply to improve our present suite of kit. Moreover, we have now bought 300 Bitmain S19 XP miners to completely make the most of obtainable rack area at our Lachute facility. These machines have been bought and put in in August.”
With this month-to-month rolling improve technique, HIVE’s up to date goal hashrate is projected to succeed in 13.5 EH/s, with a world blended fleet effectivity of 16.9 J/TH upon the completion of the Paraguay facility. This can be achieved whereas sustaining our inexperienced vitality technique, which prioritizes using hydroelectricity to energy our information facilities.
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