HIVE Digital has revealed its November 2024 production results, including 103 BTC mined and a 67% year-over-year growth in its Bitcoin holdings.
Bitcoin (BTC) The HIVE Digital mining company has published its November 2024 production results, representing a 67% increase in its BTC stake compared to the previous year. In a December 9 press releasethe firm revealed that it had mined 103 BTC in November, bringing its total HODL portfolio to 2,713 BTC as of November 30.
In terms of mining capacity, HIVE maintained an average of 5.3 EH/s, with the company’s peak hashrate for the month reaching 5.7 EH/s. At the end of November, HIVE’s Bitcoin holdings were valued at approximately $261 million, based on a BTC closing price of $96,400.
During the past month, HIVE has also expanded its mining operations, acquiring 11,500 Avalon ASIC miners from Canaan Inc. and 8.6 EH/s of Bitmain’s S21 + Hydro machines. The deal is part of the company’s plan to reach a total mining capacity of 15 EH/s by the summer of 2025, with the purchase expected to generate more than $300 million in annual revenue once fully implemented. .
Frank Holmes, executive chairman of HIVE, said that the company’s recent expansion is a step towards its goal “to capture 2% of the global Bitcoin network”. HIVE Digital CEO Aydin Kilic said the company is on track to improve the efficiency of its fleet and reduce production costs, adding that once the new equipment is fully operational, HIVE expects to achieving a blended fleet efficiency of 17 J/TH.
Following the news, shares of HIVE Digital ( HIVE ) rose 6.1%, jumping to $4.35, according to data from Nasdaq.
