Hive Blockchain Produces 377.1 BTC Equivalent In February, Completes US$100 Million ATM Financing

Production figures for the month of February are in for Hive Blockchain (TSXV: HIVE). The firm this morning also released its current bitcoin balance, which sits at 2,374 as of the end of February, an improvement from the 2,043 held at the end of January.

Production for the month came in at 244.4 bitcoin, as well as 1,814 ethereum. The production compares to 254 bitcoin and 2,170 ethereum produced in January. On a bitcoin equivalent basis, a total of 377.1 bitcoin equivalent was produced during the month.

However it should be noted of course that February is a shorter month, and thus production should be expected to be impacted as a result. Bitcoin equivalent production per day for the month of February came in at 13.5, versus 13.7 BTC equivalent per day in January. The decline is attributed to rising network difficulty.

The firm this morning also provided an update on its at-the-market financing, which raised a total of $15.1 million in gross proceeds from the sale of shares in the fiscal third quarter ended December 30, 2021. A total of 3.5 million shares were sold at a price of $4.30 per each. The financing has also now been completed, with a total of US$99.5 million raised via the sale of 27.2 million shares.

Hive Blockchain last traded at $2.11 on the TSX Venture.

Information for this briefing was found via Sedar and the companies mentioned. 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.

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