As of December 29, 2024, HIVE Digital Technologies Ltd. (NASDAQ: HIVE) is trading at $2.97, reflecting a 2.31% decrease from the previous close.
In recent developments, HIVE has announced a significant expansion of its Bitcoin mining capacity. The company has acquired 8.6 exahashes per second (EH/s) of Bitmain S21+ Hydro chips, aiming to reach a total capacity of 15 EH/s by summer 2025. This expansion is projected to generate over $300 million in annual revenue and deliver more than $200 million in mining margin, representing approximately 2% of the global Bitcoin mining network.
Additionally, HIVE reported its November 2024 production results, mining 103 Bitcoin and maintaining a HODL portfolio of 2,713 Bitcoin, a 67% year-over-year increase. The company achieved an average mining capacity of 5.3 EH/s with fleet efficiency at 22.3 joules per terahash (J/TH), reaching a peak hashrate of 5.7 EH/s.
These strategic developments underscore HIVE's commitment to expanding its green energy-powered blockchain infrastructure and increasing its presence in the cryptocurrency mining industry.
Investors should remain aware of the inherent volatility in the cryptocurrency market and conduct thorough research before making investment decisions.
For a more in-depth analysis of HIVE Digital Technologies' current market position and future prospects, you might find the following video informative:
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