Thursday, May 29, 2025

Latest

Hive Blockchain Exceeds 1 Exahash Per Second In Bitcoin Mining

As it had announced earlier this month, HIVE Blockchain Technologies Ltd. (TSXV: HIVE) shared that it expects to cross the 1 Exahash per second mark in bitcoin mining today. This follows after the firm finally received the deliveries of its bitcoin miners over the past 24 hours.

The boost in hashrate is mainly due to the arrival of previously ordered 1,845 bitcoin miners with a total hashrate of 172 Petahash per second. This is the latest in the series of equipment purchases by the company as a part of its strategy to increase its mining capacity.

“This is a monumental achievement for us as we continue to our goal of over 3 EX/s by the end of fiscal 2022, including the conversion of ETH, a goal which is greatly supported by today’s announcement of new miner deliveries,” said HIVE Executive Chairman Frank Holmes.

The crypto miner relayed that the new bitcoin machines will be deployed in its 2 Canadian data centers: 945 miners in Lachute, Quebec, and 900 miners in Grand Falls, New Brunswick.

As the company further explained, the hashrate in both bitcoin and ethereum is currently resulting in an annual revenue run rate of approximately $220 million with estimated expenses of $25 million per year.

To date, the crypto firm holds 946 bitcoins in cold wallet, which is valued at $56.9 million as of this writing. On the other hand, the total inventory of bitcoin and ethereum coins is valued at $116 million.

HIVE Blockchain Technologies last traded at $3.81 on the TSX Venture.


Information for this briefing was found via Sedar and HIVE. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

How To Profit From $3300 Gold? An Inside Look At A Massive 300,000 Oz Project | Martino De Ciccio

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

Recommended

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

First Majestic Makes Second Major Discovery At Santa Elena In Just A Year

Related News

Hive Blockchain To Raise Another US$100 Million Under At The Market Offering

Hive Blockchain (TSXV: HIVE) is once again raising money. The firm on Friday evening announced...

Sunday, September 4, 2022, 05:13:00 PM

Bitcoin’s 2021 Electricity Consumption has Already Exceeded the Entirety of 2020

As the popularity of the world’s largest cryptocurrency grows, the energy consumption and subsequent environmental...

Thursday, September 23, 2021, 04:54:00 PM

Is Bitcoin A Fraud? – The Daily Dive feat Jeff Wareham

Today on the Daily Dive, we’re joined by Jeff Wareham, whom is a director at...

Tuesday, December 15, 2020, 01:00:00 PM

MicroStrategy’s Debt Problem Grows On Bitcoin Acquisition Strategy; Saylor: “It’s Not Debt”

MicroStrategy (NASDAQ: MSTR), once a prominent software company of the dot-com era, has become synonymous...

Sunday, December 29, 2024, 09:37:00 AM

El Salvador Weighs Bitcoin Law Change to Access $3.3 Billion in Loans

El Salvador’s mandatory Bitcoin requirements for businesses could soon end as the country negotiates access...

Tuesday, December 10, 2024, 09:54:00 AM