RETRANSMISSION: HIVE Digital Technologies Announces August 2024 Production of 112 Bitcoin and 1% HODL Growth to 2,533 Bitcoins and Acquires 1,000 Bitmain S21 Pro for Immediate Delivery
HIVE Digital Technologies (TSXV: HIVE) (NASDAQ: HIVE) has released its unaudited production results for August 2024. The company mined 112 Bitcoin, increasing its total Bitcoin holdings by 1% to 2,533 BTC. HIVE also acquired 1,000 Bitmain S21 Pro Antminers for immediate delivery to upgrade its mining efficiency. The company maintained an average Bitcoin mining capacity of over 5.0 Exahash per second (EH/s) throughout the month, with a blended fleet efficiency of 23 joules per terahash (J/TH).
HIVE's Bitcoin HODL value exceeded $164 million as of August 31, 2024. The company is focusing on maintaining low G&A expenses, maximizing cash flow return, and minimizing share dilution. HIVE plans to upgrade its remaining 30 J/TH ASICs over the next nine months, aiming to increase its installed hashrate to 6.9 EH/s with a blended fleet efficiency of 19 TH/s. The company's updated target hashrate is projected to reach 13.5 EH/s upon completion of the Paraguay facility.
HIVE Digital Technologies (TSXV: HIVE) (NASDAQ: HIVE) ha rilasciato i risultati di produzione non auditati per agosto 2024. L'azienda ha estratto 112 Bitcoin, aumentando le sue riserve totali di Bitcoin dell'1% a 2.533 BTC. HIVE ha anche acquistato 1.000 Bitmain S21 Pro Antminers per consegna immediata, al fine di migliorare l'efficienza estrattiva. L'azienda ha mantenuto una capacità media di mining di Bitcoin superiore a 5,0 Exahash al secondo (EH/s) per tutto il mese, con un'efficienza della flotta combinata di 23 joule per terahash (J/TH).
Il valore HODL di Bitcoin di HIVE ha superato $164 milioni al 31 agosto 2024. L'azienda si sta concentrando sul mantenimento di basse spese generali e amministrative, massimizzando il ritorno di flusso di cassa e minimizzando la diluizione azionaria. HIVE prevede di aggiornare i suoi restanti ASIC a 30 J/TH nei prossimi nove mesi, mirando ad aumentare il suo hashrate installato a 6,9 EH/s con un'efficienza della flotta combinata di 19 TH/s. L'obiettivo di hashrate aggiornato dell'azienda è previsto raggiungere 13,5 EH/s al termine della costruzione della struttura in Paraguay.
HIVE Digital Technologies (TSXV: HIVE) (NASDAQ: HIVE) ha publicado sus resultados de producción no auditados para agosto de 2024. La compañía minó 112 Bitcoin, aumentando sus tenencias totales de Bitcoin en un 1% hasta 2,533 BTC. HIVE también adquirió 1,000 Bitmain S21 Pro Antminers para entrega inmediata con el fin de mejorar su eficiencia de minería. La compañía mantuvo una capacidad promedio de minería de Bitcoin de más de 5.0 Exahash por segundo (EH/s) durante todo el mes, con una eficiencia de flota combinada de 23 julios por terahash (J/TH).
El valor HODL de Bitcoin de HIVE superó $164 millones al 31 de agosto de 2024. La empresa se está enfocando en mantener bajos los gastos generales y administrativos, maximizar el retorno de flujo de efectivo y minimizar la dilución de acciones. HIVE planea actualizar sus restantes 30 J/TH ASIC en los próximos nueve meses, con el objetivo de aumentar su tasa de hash instalada a 6.9 EH/s con una eficiencia de flota combinada de 19 TH/s. La tasa de hash objetivo actualizada de la compañía se proyecta alcanzar 13.5 EH/s al completar la instalación en Paraguay.
HIVE Digital Technologies (TSXV: HIVE) (NASDAQ: HIVE)는 2024년 8월의 감사되지 않은 생산 결과를 발표했습니다. 이 회사는 112 비트코인을 채굴하여 총 비트코인 보유량을 1% 증가시켜 2,533 BTC에 이르렀습니다. HIVE는 또한 1,000개의 Bitmain S21 Pro Antminers를 즉시 전달하기 위해 구매하여 채굴 효율성을 향상시켰습니다. 이 회사는 한 달 내내 평균 5.0 Exahash per second (EH/s)의 비트코인 채굴 능력을 유지했으며, 혼합된 함대 효율성은 23줄/테라해시(J/TH)였습니다.
HIVE의 비트코인 HODL 가치는 2024년 8월 31일 기준으로 $164 백만을 초과했습니다. 회사는 낮은 관리 및 일반 비용을 유지하고, 현금 흐름 수익을 극대화하며, 주식 희석을 최소화하는 데 주력하고 있습니다. HIVE는 다음 9개월 동안 나머지 30 J/TH ASIC을 업그레이드하여 설치된 해시레이트를 6.9 EH/s로 증가시키고 혼합된 함대 효율성을 19 TH/s로 유지할 계획입니다. 회사의 업데이트된 목표 해시레이트는 파라과이 시설이 완료되면 13.5 EH/s에 도달할 것으로 예상됩니다.
HIVE Digital Technologies (TSXV: HIVE) (NASDAQ: HIVE) a publié ses résultats de production non audités pour août 2024. L'entreprise a extrait 112 Bitcoin, augmentant ainsi ses avoirs totaux en Bitcoin de 1 % à 2 533 BTC. HIVE a également acquis 1 000 Bitmain S21 Pro Antminers pour une livraison immédiate afin d'améliorer son efficacité minière. L'entreprise a maintenu une capacité moyenne de minage de Bitcoin de plus de 5,0 Exahash par seconde (EH/s) tout au long du mois, avec une efficacité de flotte combinée de 23 joules par terahash (J/TH).
La valeur HODL de Bitcoin de HIVE a dépassé 164 millions de dollars au 31 août 2024. L'entreprise se concentre sur le maintien de faibles frais généraux et administratifs, la maximisation du retour de flux de trésorerie et la minimisation de la dilution des actions. HIVE prévoit de mettre à jour ses 30 ASIC J/TH restants au cours des neuf prochains mois, visant à augmenter son hashrate installé à 6,9 EH/s avec une efficacité de flotte combinée de 19 TH/s. L'objectif de hashrate mis à jour de l'entreprise devrait atteindre 13,5 EH/s lors de l'achèvement de l'installation au Paraguay.
HIVE Digital Technologies (TSXV: HIVE) (NASDAQ: HIVE) hat seine ungeprüften Produktionszahlen für August 2024 veröffentlicht. Das Unternehmen hat 112 Bitcoin abgebaut, wodurch sich seine Bitcoin-Bestände um 1 % auf 2.533 BTC erhöhten. HIVE hat außerdem 1.000 Bitmain S21 Pro Antminer für eine sofortige Lieferung erworben, um die Mining-Effizienz zu steigern. Das Unternehmen hielt im Laufe des Monats eine durchschnittliche Bitcoin-Mining-Kapazität von über 5,0 Exahash pro Sekunde (EH/s) aufrecht, mit einer gemischten Flotteneffizienz von 23 Joule pro Terahash (J/TH).
Der HODL-Wert von HIVE für Bitcoin überstieg $164 Millionen zum 31. August 2024. Das Unternehmen konzentriert sich darauf, niedrige allgemeine und Verwaltungskosten aufrechtzuerhalten, den Cashflow-Rückfluss zu maximieren und die Aktienverwässerung zu minimieren. HIVE plant, seine verbleibenden 30 J/TH ASICs in den nächsten neun Monaten zu aktualisieren, um die installierte Hashrate auf 6,9 EH/s zu erhöhen, bei einer gemischten Flotteneffizienz von 19 TH/s. Die aktualisierte Ziel-Hashrate des Unternehmens wird voraussichtlich 13,5 EH/s nach Abschluss der Anlage in Paraguay erreichen.
- Mined 112 Bitcoin in August 2024, increasing total holdings to 2,533 BTC
- Acquired 1,000 Bitmain S21 Pro Antminers for immediate delivery to upgrade mining efficiency
- Maintained average Bitcoin mining capacity of over 5.0 EH/s with 23 J/TH fleet efficiency
- Bitcoin HODL value exceeded $164 million as of August 31, 2024
- Plans to increase installed hashrate to 6.9 EH/s with 19 TH/s fleet efficiency
- Projected target hashrate of 13.5 EH/s upon completion of Paraguay facility
- None.
Insights
HIVE's August performance shows steady progress in Bitcoin mining. The company mined 112 BTC, growing their HODL position by
The company's focus on maintaining low G&A expenses per Bitcoin mined and maximizing cash flow return on invested capital is commendable. Their average of 3.6 BTC mined daily with a 5.3 EH/s capacity demonstrates operational efficiency. The planned upgrade to reach 13.5 EH/s with improved efficiency could significantly boost production capacity and potentially increase revenues.
HIVE's tech strategy is impressive. They've optimized their 30 J/TH machines to 27-28 J/TH, improving overall fleet efficiency to 23 J/TH. The acquisition of S21 Pro and S19 XP miners shows a commitment to cutting-edge technology. Their goal of reaching 13.5 EH/s with a 16.9 J/TH global blended fleet efficiency is ambitious but achievable.
The focus on green energy, particularly hydroelectricity, aligns with growing environmental concerns in the crypto mining sector. This eco-friendly approach could provide a competitive edge and potentially attract environmentally conscious investors. The planned upgrades over the next nine months could position HIVE as a technological leader in the Bitcoin mining space.
Vancouver, British Columbia--(Newsfile Corp. - September 5, 2024) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the "Company" or "HIVE") a pioneer in green energy-powered blockchain infrastructure, is pleased to announce its unaudited production results for August 2024. The Company successfully mined 112 Bitcoin, boosting its total Bitcoin holdings by
August 2024 Highlights:
Production: Mined 112 Bitcoin in August 2024.
Mining Capacity Maintained: Concluded the month with a 5.3 EH/s ASIC mining capacity, achieving a blended fleet efficiency of 23 joules per terahash ("J/TH").
HODL Position: Increased Bitcoin holdings to 2,533 BTC, reflecting a
1% growth from the previous month.Mining Efficiency: Averaged 22.4 Bitcoin per Exahash, ending August with a 5.3 EH/s capacity and a consistent average hashrate of 5.0 EH/s.
Daily Production: Averaged 3.6 BTC per day, highlighting operational efficiency and robust mining capabilities.
Strategic HODL Increase:
HIVE emphasizes that with a Bitcoin HODL value exceeding
Executive Insights:
Frank Holmes, Executive Chairman, commented, "We remain focused on our strategy of maintaining the lowest G&A expenses per Bitcoin mined, maximizing cash flow return on invested capital, and achieving high revenue per employee while minimizing share dilution. Our disciplined approach, supported by a global team operating across nine time zones, positions HIVE as one of the leanest Bitcoin mining operations with an attractive EV to EBITDA multiple, holding over 2,500 clean and green Bitcoin on our balance sheet."
Aydin Kilic, President and CEO added, "Over the past month, we have optimized our fleet's performance, achieving an average hashrate of approximately 5.2 EH/s by fine-tuning the firmware of our 30 J/TH machines, improving their efficiency to 27-28 J/TH. This has led to a global fleet efficiency of approximately 23 J/TH. We plan to continue this optimization over the next nine months, upgrading our remaining 30 J/TH ASICs. This will increase our installed hashrate at existing facilities to 6.9 EH/s with a blended fleet efficiency of 19 TH/s."
He further noted, "To support this strategy, we have acquired 1,000 Bitmain S21 Pro Antminers for immediate delivery to upgrade our existing suite of equipment. Additionally, we have purchased 300 Bitmain S19 XP miners to fully utilize available rack space at our Lachute facility. These machines were purchased and installed in August."
With this monthly rolling upgrade strategy, HIVE's updated target hashrate is projected to reach 13.5 EH/s, with a global blended fleet efficiency of 16.9 J/TH upon the completion of the Paraguay facility. This will be achieved while maintaining our green energy strategy, which prioritizes the use of hydroelectricity to power our data centers.
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About HIVE Digital Technologies Ltd.
HIVE Digital Technologies Ltd. went public in 2017 as the first cryptocurrency mining company listed for trading on the TSX Venture Exchange with a focus on sustainable green energy.
HIVE is a growth-oriented technology stock in the emergent blockchain industry. As a company whose shares trade on a major stock exchange, we are building a bridge between the digital currency and blockchain sector and traditional capital markets. HIVE owns and operates state-of-the-art, green energy-powered data centre facilities in Canada, Sweden, and Iceland, where we endeavour to source green energy to mine digital assets such as Bitcoin on the cloud. Since the beginning of 2021, HIVE has held in secure storage the majority of its treasury of BTC derived from mining rewards. Our shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of Bitcoin. Because HIVE also owns hard assets such as data centers and advanced multi-use servers, we believe our shares offer investors an attractive way to gain exposure to the cryptocurrency space.
Environmental Sustainability:
- Green Energy: By sourcing green renewable energy, HIVE is committed to environmental responsibility, positioning itself as a leader in sustainable cryptocurrency mining.
- Competitive Advantage: We believe this environmentally conscious approach sets HIVE apart from competitors and aligns with evolving investor preferences.
Expansion into AI Strategy:
- Diversification: HIVE's diversification into HPC enables us to support artificial intelligence (AI) using Nvidia GPU chips, showcasing our adaptability and innovation beyond traditional Bitcoin mining.
- Revenue Streams: This strategic move into HPC broadens HIVE's revenue streams and places it at the forefront of technological advancements in both cryptocurrency and AI industries.
HIVE's unique value proposition encompasses efficient operations, a proven agile management team, financial strength, environmental sustainability, and innovative expansion strategies. Beyond Bitcoin mining, HIVE is firmly part of the global boom in data center infrastructure, sourcing primarily green renewable energy.
HIVE presents a unique growth opportunity with over 2,500 Bitcoins on its balance sheet and growing revenue from its suite of Nvidia GPU chips powering data services for the AI revolution.
We encourage you to visit HIVE's YouTube channel here to learn more about HIVE.
For more information and to register to HIVE's mailing list, please visit www.HIVEdigitaltechnologies.com. Follow @HIVEDigitalTech on Twitter and subscribe to HIVE's YouTube channel.
On Behalf of HIVE Digital Technologies Ltd.
"Frank Holmes"
Executive Chairman
For further information please contact:
Frank Holmes
Tel: (604) 664-1078
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release
Forward-Looking Information
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian and United States securities legislation and regulations that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes but is not limited to: business goals and objectives of the Company; the results of operations for August 2024; the acquisition, deployment and optimization of the mining fleet and equipment; the continued viability of its existing Bitcoin mining operations; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
Factors that could cause actual results to differ materially from those described in such forward looking information include, but are not limited to, the volatility of the digital currency market; the Company's ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company's operations; the regulatory environment for cryptocurrency in Canada, the United States and the countries where our mining facilities are located; economic dependence on regulated terms of service and electricity rates; the speculative and competitive nature of the technology sector; dependency on continued growth in blockchain and cryptocurrency usage; lawsuits and other legal proceedings and challenges; government regulations; the global economic climate; dilution; future capital needs and uncertainty of additional financing, capital market conditions in general; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology change; the ability to maintain reliable and economical sources of power to run its cryptocurrency mining assets; the impact of energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; share dilution resulting from equity issuances; the construction and operation of facilities may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of electricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power for the Company to operate cryptocurrency mining assets; the risks of an increase in the Company's electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and the adverse impact on the Company's profitability; the ability to complete current and future financings, any regulations or laws that will prevent the Company from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; an inability to predict and counteract the effects of pandemics on the business of the Company, including but not limited to the effects of pandemics on the price of digital currencies, capital market conditions, restriction on labour and international travel and supply chains; and, the adoption or expansion of any regulation or law that will prevent the Company from operating its business, or make it more costly to do so; and other related risks as more fully set out in the Company's disclosure documents under the Company's filings at www.sec.gov/EDGAR and www.sedarplus.ca.
The forward-looking information in this news release reflects the Company's current expectations, assumptions, and/or beliefs based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's objectives, goals or future plans, the timing thereof and related matters. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance, and accordingly, undue reliance should not be put on such information due to its inherent uncertainty. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, other than as required by law.
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FAQ
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