HIVE Digital (TSX.V: HIVE) (Nasdaq: HIVE) January 2024 Production Update- Increasing Bitcoin HODL by 14%

February 9, 2024 (Globalinvestorideas.com Newswire) Investorideas.com (www.investorideas.com) Bitcoin/Crypto Stock News Bites – HIVE Digital Technologies Ltd. (TSX.V: HIVE) (Nasdaq: HIVE) (FSE: YO0.F) (the “Company” or “HIVE”) is pleased to announce the unaudited production figures from the Company’s global Bitcoin operations for the month of January 2024, with 234.6 Bitcoin produced in January. The Company has maintained over 3.88 Exahash (“EH/s”) of Bitcoin mining capacity on average for January 2024, including ASIC and GPU BTC hashrate (all amounts in US dollars, unless otherwise indicated).

Summary Overview:

HIVE produced 234.6 Bitcoin in the month of January, from ASIC and GPU mining operations, representing an average of 60.5 Bitcoin Per Exahash, with an average hashrate of 3.88 EH/s for the month of January 2024;

HIVE produced an average of 7.6 BTC per day in January 2024;

HIVE ended the month with 3.85 EH/s of mining capacity, including ASIC and GPU BTC hashrate, a 5.6% month-over-month decrease.

The Company’s HODL position at the end of January 2024 was 1,939 BTC, which was 234.6 BTC higher than the prior month, representing a 14% increase. All BTC produced was HODL during the month.

Arctic Cold Weather

HIVE mines Bitcoin sourcing geothermal and hydroelectric renewable energy in Sweden, Iceland and Canada. There have been a few days of conserving electricity consumption due to cold weather. The Company’s software system to balance the grid has worked smoothly and HIVE expects, based on seasonal weather patterns, milder weather in March.

Cold weather in Northern Sweden, where the Company’s facilities are 100 miles south of the Arctic Circle, hit negative 40 degrees Celsius. Fortunately, this seasonal pattern appears to be behind us. In addition, HIVE does hedge its cost of energy in Sweden.

Bitcoin Halving Strategy

Frank Holmes, Executive Chairman, of the Company stated “We have upgraded our fleet of ASICs, to improve our global fleet efficiency to reduce our average production cost per Bitcoin. In addition to this, we have been HODL’ing our Bitcoin reserves ahead of the Halving. With the Halving event in April 2024, the global daily Bitcoin block reward will reduce from 900 Bitcoin per day to 450 Bitcoin per day. This underscores the scarcity of Bitcoin, and thus we believe increasing our HODL will put HIVE in a strong position.”

Read the company’s full news and disclaimer here:

https://hivedigitaltechnologies.com/news/hive-digital-provides-january-2024-production-update-increasing-bitcoin-hodl-by-14/

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