RETRANSMISSION: HIVE Digital Technologies Announces December 2024 Production Results and Strategic Milestone of 2,805 HODL Position, Up 65% Year-Over-Year
HIVE Digital Technologies has released its December 2024 production results, highlighting significant growth and strategic developments. The company mined 103 BTC, increasing its HODL portfolio to 2,805 BTC, representing a 64.6% year-over-year increase. The company maintained an average mining capacity of 5.5 EH/s, with fleet efficiency at 22 J/TH, reaching peak BTC hashrates of 6.0 EH/s.
Key achievements include Bitcoin holdings valued at $261.9 million as of December 31, 2024, with BTC closing at approximately $93,400. HIVE's operational hashrate grew 47% year-over-year to 6.0 EH/s, driven by fleet upgrades with Avalon machines. The company targets reaching 15.0 EH/s by end-2025, supported by a 100 MW hydroelectric-powered expansion in Paraguay.
Strategic developments include securing competitive energy pricing in Sweden and relocating headquarters from Vancouver to San Antonio, Texas. HIVE plans to transition to US GAAP reporting starting fiscal year ending March 31, 2025.
HIVE Digital Technologies ha rilasciato i risultati di produzione di dicembre 2024, evidenziando una crescita significativa e sviluppi strategici. L'azienda ha estratto 103 BTC, aumentando il proprio portafoglio HODL a 2.805 BTC, che rappresenta un incremento del 64,6% rispetto all'anno precedente. L'azienda ha mantenuto una capacità media di mining di 5,5 EH/s, con un'efficienza della flotta di 22 J/TH, raggiungendo picchi di hashrate BTC di 6,0 EH/s.
I risultati chiave includono possessioni di Bitcoin valutate a 261,9 milioni di dollari al 31 dicembre 2024, con il BTC che si è chiuso a circa 93.400 dollari. L'hasrate operativo di HIVE è cresciuto del 47% rispetto all'anno precedente fino a 6,0 EH/s, grazie agli aggiornamenti della flotta con macchine Avalon. L'azienda punta a raggiungere i 15,0 EH/s entro la fine del 2025, supportata da un'espansione alimentata da energia idroelettrica di 100 MW in Paraguay.
Tra gli sviluppi strategici, si segnala l'assicurazione di prezzi competitivi per l'energia in Svezia e il trasferimento della sede centrale da Vancouver a San Antonio, Texas. HIVE prevede di passare alla rendicontazione secondo US GAAP a partire dall'anno fiscale che termina il 31 marzo 2025.
HIVE Digital Technologies ha publicado los resultados de producción de diciembre de 2024, destacando un crecimiento significativo y desarrollos estratégicos. La empresa extrajo 103 BTC, aumentando su cartera HODL a 2,805 BTC, lo que representa un incremento del 64.6% interanual. La compañía mantuvo una capacidad de minería promedio de 5.5 EH/s, con eficiencia de flota de 22 J/TH, alcanzando tasas máximas de hashrate de BTC de 6.0 EH/s.
Los logros clave incluyen tenencias de Bitcoin valoradas en 261.9 millones de dólares al 31 de diciembre de 2024, con el BTC cerrando en aproximadamente 93,400 dólares. La hashrate operativa de HIVE creció un 47% interanual hasta 6.0 EH/s, impulsada por las actualizaciones de flota con máquinas Avalon. La empresa tiene como objetivo alcanzar 15.0 EH/s para finales de 2025, respaldada por una expansión de 100 MW impulsada por energía hidroeléctrica en Paraguay.
Los desarrollos estratégicos incluyen asegurar precios competitivos de energía en Suecia y trasladar la sede de Vancouver a San Antonio, Texas. HIVE planea cambiar a la contabilidad bajo US GAAP a partir del año fiscal que termina el 31 de marzo de 2025.
HIVE Digital Technologies는 2024년 12월 생산 결과를 발표하며 상당한 성장과 전략적 발전을 강조했습니다. 회사는 103 BTC를 채굴하여 HODL 포트폴리오를 2,805 BTC로 늘렸으며, 이는 전년 대비 64.6% 증가한 수치입니다. 회사는 평균 채굴 용량을 5.5 EH/s로 유지했으며, 플릿 효율성은 22 J/TH로, BTC 해시레이트의 최고 피크인 6.0 EH/s에 도달했습니다.
핵심 성과로는 2024년 12월 31일 기준으로 2억 6,190만 달러로 평가된 비트코인 보유량이 포함되어 있으며, BTC는 약 93,400달러에 마감했습니다. HIVE의 운영 해시레이트는 플릿 업그레이드로 인해 전년 대비 47% 증가하여 6.0 EH/s에 달했습니다. 회사는 2025년 말까지 15.0 EH/s에 도달할 것을 목표로 하며, 이는 파라과이에 100 MW의 수력 발전소를 통해 지원됩니다.
전략적 발전 사항으로는 스웨덴에서 경쟁력 있는 에너지 가격을 확보하고, 본사를 밴쿠버에서 텍사스 주 샌안토니오로 이전하는 것이 포함됩니다. HIVE는 2025년 3월 31일 종료되는 회계 연도부터 US GAAP 회계 기준으로 전환할 계획입니다.
HIVE Digital Technologies a publié ses résultats de production de décembre 2024, mettant en avant une croissance significative et des développements stratégiques. L'entreprise a extrait 103 BTC, augmentant son portefeuille HODL à 2 805 BTC, représentant une augmentation de 64,6 % par rapport à l'année précédente. L'entreprise a maintenu une capacité moyenne de minage de 5,5 EH/s, avec une efficacité de flotte de 22 J/TH, atteignant des pics de hashrate BTC de 6,0 EH/s.
Les résultats clés incluent des avoirs en Bitcoin d'une valeur de 261,9 millions de dollars au 31 décembre 2024, avec le BTC se clôturant à environ 93 400 dollars. La hashrate opérationnelle de HIVE a augmenté de 47 % par rapport à l'année précédente pour atteindre 6,0 EH/s, grâce aux mises à niveau de la flotte avec des machines Avalon. L'entreprise vise à atteindre 15,0 EH/s d'ici la fin 2025, soutenue par une expansion de 100 MW alimentée par l'hydroélectricité au Paraguay.
Parmi les développements stratégiques, on note la sécurisation de prix énergétiques compétitifs en Suède et le transfert du siège social de Vancouver à San Antonio, au Texas. HIVE prévoit de passer à un reporting conforme aux US GAAP à partir de l'exercice fiscal se terminant le 31 mars 2025.
HIVE Digital Technologies hat die Produktionszahlen für Dezember 2024 veröffentlicht und damit ein signifikanteres Wachstum und strategische Entwicklungen hervorgehoben. Das Unternehmen hat 103 BTC abgebaut und sein HODL-Portfolio auf 2.805 BTC erhöht, was einem Anstieg von 64,6 % im Vergleich zum Vorjahr entspricht. Das Unternehmen hielt eine durchschnittliche Mining-Kapazität von 5,5 EH/s, mit einer Flotteneffizienz von 22 J/TH, und erreichte Spitzenhashraten für BTC von 6,0 EH/s.
Wichtige Errungenschaften umfassen Bitcoin-Bestände im Wert von 261,9 Millionen Dollar zum 31. Dezember 2024, wobei BTC ungefähr bei 93.400 Dollar schloss. Die betriebliche Hashrate von HIVE wuchs im Jahresvergleich um 47 % auf 6,0 EH/s, angetrieben durch Flotten-Upgrades mit Avalon-Maschinen. Das Unternehmen hat das Ziel, bis Ende 2025 15,0 EH/s zu erreichen, unterstützt durch eine 100 MW große Wasserkrafterweiterung in Paraguay.
Zu den strategischen Entwicklungen gehört die Sicherung wettbewerbsfähiger Energiepreise in Schweden und der Umzug des Hauptsitzes von Vancouver nach San Antonio, Texas. HIVE plant, ab dem Geschäftsjahr, das am 31. März 2025 endet, zur US GAAP-Berichterstattung überzugehen.
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This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated October 3, 2024 to its short form base shelf prospectus dated September 11, 2024.
San Antonio, Texas--(Newsfile Corp. - January 8, 2025) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (referred to as the "Company" or "HIVE"), a global leader in sustainable blockchain infrastructure, has released its unaudited production results for December 2024 (all amounts in US dollars, unless otherwise indicated).
Key Highlights for December 2024:
Bitcoin Production: Mined 103 BTC, bringing HIVE's HODL portfolio to 2,805 BTC, a
64.6% increase year-over-year.Mining Capacity: Maintained an average mining capacity of 5.5 Exahash per Second ("EH/s") with fleet efficiency at 22 Joules per Terahash ("J/TH"), reaching a peak BTC only hashrate of 6.0 EH/s, and a peak BTC equivalent hashrate of 6.3 EH/s.
Operational Efficiency: Achieved an average daily production rate of 3.32 BTC, equivalent to 18.8 BTC per Exahash.
Bitcoin Valuation: HIVE's Bitcoin holdings were valued at over
$261.9 million as of December 31, 2024, based on a BTC closing price of approximately$93,400.
Strategic Developments:
- In December, HIVE reached 6.0 EH/s of operational hashrate, marking a
47% year-over-year growth from 4.08 EH/s at December 31, 2023. This milestone was driven by upgrading the Company's Bitcoin mining fleet with state-of-the-art Avalon machines procured from Canaan Inc., boosting both the efficiency and capacity of its operations.
- The Company anticipates reaching 15.0 EH/s of global hashrate capacity by the end of 2025, with a blended fleet efficiency of 17.0 J/TH upon full deployment of its 100 MW hydroelectric-powered strategic expansion in Paraguay.
- The Company secured highly competitive energy pricing in Sweden, adding to its hedged position with electricity costs at sub-2-cent rates per kilowatt-hour.
- Furthermore, HIVE announced the strategic relocation of its head office from Vancouver, Canada, to San Antonio, Texas, aiming to enhance growth and shareholder value within the U.S. market. The Company has signed a lease agreement for office space in San Antonio, Texas, marking an important step in establishing its new headquarters. HIVE also announced plans to transition to reporting financial results under U.S. Generally Accepted Accounting Principles ("US GAAP"), starting with its audited financial statements for the fiscal year ending March 31, 2025.
Executive Commentary:
Aydin Kilic, CEO of HIVE, stated: "The past year has been crucial in HIVE's journey as we continue to align next-generation technology with sustainable operations. We increased our global hashrate by
HIVE In Texas:
Frank Holmes, Executive Chairman of HIVE, stated: "As we enter 2025, we boast an exceptionally strong balance sheet, including nearly
About HIVE Digital Technologies Ltd.
HIVE Digital Technologies Ltd. is a pioneering technology company advancing sustainable blockchain and AI infrastructure powered by green energy. As the first cryptocurrency miner to go public on the TSX Venture Exchange in 2017, HIVE has grown into a global leader in digital asset mining and AI computing. With operations in Canada, Sweden, and soon Paraguay, HIVE continues to innovate while reducing its environmental footprint.
For more information, visit hivedigitaltech.com, or connect with us on:
X: https://x.com/HIVEDigitalTech
YouTube: https://www.youtube.com/@HIVEDigitalTech
Instagram: https://www.instagram.com/hivedigitaltechnologies/
LinkedIn: https://linkedin.com/company/hiveblockchain
On Behalf of HIVE Digital Technologies Ltd.
"Frank Holmes"
Executive Chairman
For further information, please contact:
Nathan Fast, Director of Marketing and Branding
Frank Holmes, Executive Chairman
Aydin Kilic, President & CEO
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 of 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 December 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, including the Company's ability to utilize the Company's ATM Program and the prices at which the Company may sell Common Shares in the ATM Program, as well as 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 the ATM Program and from other 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236410
FAQ
What was HIVE's Bitcoin production and HODL position in December 2024?
What is HIVE's target hashrate capacity for 2025?
How much was HIVE's Bitcoin holdings worth as of December 31, 2024?
Why is HIVE relocating its headquarters to San Antonio, Texas?
What is HIVE's planned expansion in Paraguay?
