Hive Blockchain Produces 425 Bitcoin Equivalent In January 2022

HIVE Blockchain Technologies Ltd. (TSXV: HIVE) shared today its production results for January 2022. The monthly results highlighted a production of 425 bitcoin equivalent, marginally up from December 2021’s 423 bitcoin equivalent.

The monthly production consists of producing 254 bitcoin and 2,170 ethereum, compared to last month’s 245 bitcoin and 2,178 ethereum.

“[The] ETH that HIVE produced during the month of January, equated on a daily basis, is approximately equal to a monthly total of 161 BTC,” explained President Aydin Kilic on the ethereum equivalency.

In January 2022, the blockchain firm averaged at 13.7 bitcoin equivalent per day, also up from last month’s 13.6 per day. Effectively, the company’s hashrate for bitcoin equivalent production ended at 2.9 exahash for the month.

The firm also ended the month with 1.87 exahash and 4.56 terahash mining capacities for bitcoin and ethereum mining, respectively. It now has a balance of 2,043 bitcoin and 25,404 in custody.

The company also noted that its January 2022 production “would have been higher than actuals” had it not been impacted by the cold weather that caused its Quebec Hydro to cut back 100 hours of energy consumption.

HIVE Blockchain Technologies last traded at $2.37 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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