As a researcher with experience in the cryptocurrency and mining industries, I find HIVE Digital’s recent financial report and operational expansion noteworthy. While other Bitcoin miners are showing signs of capitulation due to the recent market turbulence that saw Bitcoin plunge below $56,000, HIVE Digital appears unaffected.
Hive Digital, a Canadian Bitcoin mining firm, recently disclosed its June financial figures, showing an uptick in its Bitcoin holdings to approximately 2,503 coins now kept on the company’s ledger.
As a market analyst, I’ve observed that HIVE Digital Technologies, a Bitcoin mining firm based in Vancouver, appears unfazed by the recent miner capitulation which led to Bitcoin’s price dropping below the $56,000 threshold.
As a researcher studying HIVE Digital’s crypto holdings, I discovered that according to their press release on July 8, their Bitcoin holdings had grown to 2,503 BTC by July 7, marking a 2% rise compared to the previous month. Simultaneously, the company mined 119 BTC in June, maintaining the same mining output as in May.
In spite of Bitcoin’s recent market volatility causing it to drop below $56,000, HIVE Digital has remained unfazed. According to CEO Aydin Kilic, their operational growth continues uninterrupted. The remaining Bitmain S21 orders, initially scheduled for shipment, have been upgraded to S21 Pros – a total of approximately 1,150 new miners from HIVE’s initial order in December. Furthermore, the acquisition of an additional 1,000 S21 Pro Miners announced in May is now ready for dispatch. The installation of the entire fleet of new rigs is anticipated to be completed by the end of July.
I anticipate that a total of 2,150 S21 Pro miners, currently pending shipment, will arrive within the next week. Once these machines are fully installed, HIVE‘s operational hashrate is projected to reach 5.5 EH/s. With an efficiency rating of 24.5 J/TH for its global fleet, this significant increase in mining capacity is expected to be completed before the end of July.
Aydin Kilic
As a researcher studying stock market trends, I’ve observed an intriguing development following the favorable report released about HIVE Digital (HIVE). The shares saw a significant surge of over 9.5% on Nasdaq, pushing their price up to $3.34, based on information obtained from Google Finance.
HIVE Digital defies industry trend with reserve enhancement as Bitcoin miners exhibit signs of surrender. According to QCP analysts’ research report, Bitcoin miners have been displaying indicators of capitulation following the cryptocurrency’s price drop below $56,000 on July 5th. With an unfavorable market scenario emerging, the hashprice approached its record low—a level last observed during the previous bear market.
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2024-07-08 09:44