RETRANSMISSION: HIVE Digital Technologies Ltd. Announces October 2024 Production Results and Strategic Milestones
HIVE Digital Technologies reported its October 2024 production results, mining 117 BTC (1% increase month-over-month) with a HODL portfolio of 2,624 BTC (51% YoY increase). The company maintained an average mining capacity of 5.3 EH/s with fleet efficiency at 22.3 J/TH. HIVE's Bitcoin holdings are valued at over $184 million based on BTC price of $70,215.
The company announced construction of a new 100 MW facility in Paraguay, aiming to capture 2% of global Bitcoin mining capacity. Additionally, HIVE issued 2,442,000 restricted share units to employees, officers, directors, and consultants, vesting over two years.
HIVE Digital Technologies ha riportato i risultati di produzione di ottobre 2024, estraendo 117 BTC (aumento del 1% mese su mese) con un portafoglio HODL di 2.624 BTC (aumento del 51% su base annua). L'azienda ha mantenuto una capacità media di estrazione di 5,3 EH/s con un'efficienza della flotta del 22,3 J/TH. Le partecipazioni in Bitcoin di HIVE sono valutate oltre $184 milioni basate su un prezzo BTC di $70.215.
L'azienda ha annunciato la costruzione di una nuova struttura da 100 MW in Paraguay, con l'obiettivo di catturare il 2% della capacità globale di estrazione di Bitcoin. Inoltre, HIVE ha emesso 2.442.000 unità di azioni vincolate a dipendenti, dirigenti, amministratori e consulenti, che matureranno in due anni.
HIVE Digital Technologies reportó sus resultados de producción de octubre de 2024, extrayendo 117 BTC (un aumento del 1% mensual) con una cartera HODL de 2.624 BTC (un aumento del 51% interanual). La compañía mantuvo una capacidad de minería promedio de 5,3 EH/s con una eficiencia de flota de 22,3 J/TH. Las tenencias de Bitcoin de HIVE están valoradas en más de $184 millones, basado en un precio de BTC de $70.215.
La compañía anunció la construcción de una nueva instalación de 100 MW en Paraguay, con el objetivo de capturar el 2% de la capacidad global de minería de Bitcoin. Además, HIVE emitió 2.442.000 unidades restringidas de acciones a empleados, oficiales, directores y consultores, las cuales se consolidarán en un período de dos años.
HIVE Digital Technologies는 2024년 10월 생산 결과를 보고하며 117 BTC를 채굴했습니다 (전월 대비 1% 증가). HODL 포트폴리오에는 2,624 BTC가 있으며 (전년 대비 51% 증가) 평균 채굴 용량은 5.3 EH/s를 유지했으며, 운영 효율성은 22.3 J/TH입니다. HIVE의 비트코인 보유액은 BTC 가격이 $70,215 기준으로 $184백만 이상으로 평가됩니다.
회사는 파라과이에 100 MW 시설을 새롭게 건설할 것이라고 발표했으며, 전 세계 비트코인 채굴 용량의 2%를 확보하는 것을 목표로 하고 있습니다. 또한, HIVE는 직원, 임원, 이사 및 컨설턴트에게 2,442,000개의 제한 주식 유닛을 발행하였으며, 2년 동안 분할합니다.
HIVE Digital Technologies a annoncé ses résultats de production pour octobre 2024, ayant miné 117 BTC (augmentation de 1 % par rapport au mois précédent) avec un portefeuille HODL de 2 624 BTC (augmentation de 51 % d'une année sur l'autre). L'entreprise a maintenu une capacité de minage moyenne de 5,3 EH/s avec une efficacité de flotte de 22,3 J/TH. Les avoirs en Bitcoin de HIVE sont évalués à plus de 184 millions de dollars, basé sur un prix du BTC de 70 215 dollars.
L'entreprise a annoncé la construction d'une nouvelle installation de 100 MW au Paraguay, visant à capter 2 % de la capacité mondiale de minage de Bitcoin. De plus, HIVE a émis 2 442 000 unités d'actions restreintes aux employés, dirigeants, administrateurs et consultants, qui se consolideront sur deux ans.
HIVE Digital Technologies hat die Produktionszahlen für Oktober 2024 veröffentlicht und 117 BTC abgebaut (1% Anstieg im Vergleich zum Vormonat) mit einem HODL-Portfolio von 2.624 BTC (51% Anstieg im Jahresvergleich). Das Unternehmen hielt eine durchschnittliche Mining-Kapazität von 5,3 EH/s mit einer Flottenereffizienz von 22,3 J/TH. Die Bitcoin-Bestände von HIVE werden auf über 184 Millionen Dollar geschätzt, basierend auf einem BTC-Preis von 70.215 Dollar.
Das Unternehmen gab den Bau einer neuen 100-MW-Anlage in Paraguay bekannt, die darauf abzielt, 2% der globalen Bitcoin-Mining-Kapazität zu erfassen. Darüber hinaus hat HIVE 2.442.000 beschränkte Aktieneinheiten an Mitarbeiter, Führungskräfte, Direktoren und Berater ausgegeben, die über einen Zeitraum von zwei Jahren fällig werden.
- Bitcoin production increased 1% MoM to 117 BTC
- HODL portfolio grew 51% YoY to 2,624 BTC
- Bitcoin holdings valued at $184 million
- Expansion with new 100 MW facility in Paraguay
- Share dilution through issuance of 2,442,000 RSUs
Insights
HIVE's October performance shows steady operational execution with 117 BTC mined, representing a
The new 100 MW facility development in Paraguay represents a significant expansion opportunity. With Bitcoin's current market dynamics and HIVE's efficient mining operations achieving 22.1 BTC per Exahash, the company is well-positioned to capitalize on the growing digital asset sector. However, the RSU issuance of 2,442,000 units signals potential dilution concerns that investors should monitor.
The company's mining efficiency metrics remain competitive at 22.3 J/TH and the 5.3 EH/s average capacity indicates strong operational performance. The strategy to maintain and grow Bitcoin holdings rather than immediate liquidation suggests confidence in long-term price appreciation.
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.
Vancouver, British Columbia--(Newsfile Corp. - November 8, 2024) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the "Company" or "HIVE"), a leader in sustainable data center infrastructure for the Bitcoin ecosystem, has released its unaudited production results for October 2024, demonstrating continued growth and operational strength (all amounts in US dollars, unless otherwise indicated).
Key Highlights for October 2024 :
- Bitcoin Production: HIVE mined 117 BTC, marking a
1% increase month-over-month and bringing its HODL portfolio to 2,624 BTC, a51% increase year-over-year. - Mining Capacity: Maintained an average mining capacity of 5.3 EH/s with fleet efficiency at 22.3 Joules per Terahash (J/TH), reaching a peak hashrate of 5.6 EH/s.
- Operational Efficiency: Achieved an average daily production rate of 3.77 BTC, equivalent to 22.1 Bitcoin per Exahash.
- Bitcoin Valuation: HIVE's Bitcoin holdings are valued at over
$184 million as of October 31, 2024, based on a BTC closing price of approximately$70,215.
Strategic Developments:
HIVE recently began construction of our new 100 MW facility in Paraguay, an hour from the capital city of Asunción. This expansion aligns with HIVE's strategic goal to capture
The Company sees recent U.S. election outcomes as a positive shift for the digital asset sector. With President Trump's administration and a Republican Congress, the Company anticipates policies that will benefit both the Bitcoin ecosystem and capital markets. Additionally, the support of visionary leaders like Elon Musk-whom HIVE regards as one of the century's greatest innovators for his work with Tesla, SpaceX, and as a Bitcoin holder-signals a promising future for the ongoing global digital transformation.
Executive Commentary:
Frank Holmes, Executive Chairman, commented, "Our team's prudent capital management, coupled with monthly ASIC upgrades to more energy efficient chips, has allowed us to grow our Bitcoin portfolio, minimize dilution, and cover operational expenses. The Paraguay facility is a critical component of our Bitcoin growth strategy, and it positions HIVE to deliver long-term value to shareholders through sustainable and profitable growth."
Incentive Grants
HIVE has issued 2,442,000 restricted share units (RSUs) to employees, officers, directors, and qualified consultants. These RSUs are designed to align long-term incentives with shareholder interests. They will vest over two years in compliance with TSX Venture Exchange guidelines and are locked for a minimum of one year.
This release supports HIVE's dedication to thoughtful growth, operational efficiency, and sustainability, solidifying its position as an attractive investment in the data center business, which supports both HPC AI and the global Bitcoin infrastructure sector.
About HIVE Digital Technologies Ltd.
HIVE Digital Technologies Ltd. made history in 2017 as the first cryptocurrency mining company to go public in Canada and is now traded on exchanges in Canada, Germany, and the U.S. (Nasdaq). As part of our growth strategy, we're expanding with an additional 100 MW facility in Paraguay, setting a target to capture
HIVE operates green-energy-powered data centers in Canada, Sweden, and Iceland, integrating the digital currency sector with traditional capital markets. Additionally, we are advancing our High-Performance Computing (HPC) capabilities to capitalize on the AI super cycle, utilizing an advanced suite of Nvidia chips. HIVE shares offer investors exposure to both the cryptocurrency market and the rapidly expanding field of AI-driven computing solutions.
We encourage you to visit HIVE's YouTube channel here to learn more about HIVE.
For more information and to register for 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 October 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/229263
FAQ
How many Bitcoin did HIVE (HIVE) mine in October 2024?
What is HIVE's (HIVE) current Bitcoin HODL portfolio as of October 2024?
What is HIVE's (HIVE) mining capacity and efficiency in October 2024?
What is the size of HIVE's (HIVE) new facility in Paraguay?
