HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) is pleased to announce the unaudited production figures from the Company’s global Bitcoin operations for the month of October 2023, with 265.9 Bitcoin produced in October. The production figures were derived from 3.94 Exahash (“EH/s”) of Bitcoin mining capacity on average for October 2023, including both ASIC and GPU BTC hashrate (all amounts in US dollars, unless otherwise indicated).
Summary Overview:
• HIVE produced 265.9 Bitcoin in October, from ASIC and GPU mining operations, representing an average of 67.5 Bitcoin Per Exahash, with an average hashrate of 3.94 EH/s;
• HIVE produced 8.6 BTC per day, from ASIC and GPU mining operations, in October 2023;
• HIVE ended the month with 3.97 EH/s of mining capacity, from ASIC mining capacity, and GPU BTC hashrate, consistent month over month increase;
• HIVE peaked at 4.13 Exahash from a combined ASIC and GPU mining capacity.
Frank Holmes, Executive Chairman, of the Company stated “HIVE was the first publicly listed crypto miner, listing on the TSX-V in 2017, and since then we skillfully and successfully navigated the last halving event in 2020, and additionally the bear markets of 2019, 2020, 2022 and what we are experiencing currently. Our team’s proven track record, coupled with our fiscal prudence, puts us in an enviable position to weather the halving event which is currently expected to occur mid-April 2024. Our continued focus is to maximize the ROI on Bitcoin mining ASICs we purchase now, by making strategic acquisitions of only the very best offers in the market.”
Aydin Kilic, President & CEO of HIVE, added “We are very pleased to have reached 4.0 Exahash this month from ASIC mining operations as we continue to optimize our fleet, within existing infrastructure. In addition, a portion of our GPUs are still mining alt-coins with which we are paid in Bitcoin. The equivalent Bitcoin hashrate from our GPUs in the month of October was 130 PH/s. We continue to seek Bitcoin miner ASIC purchase opportunities that will provide the best return invested capital, as we prepare for the upcoming halving event. We as a company, carefully measure the break-even mining economics of the different models of machines available, while also optimizing our existing fleet with firmware optimizations where possible.”
The Company’s total Bitcoin production in October 2023 was 257 BTC from ASICs from an average hashrate of 3.81 EH/s from ASICs in October, and 8.3 BTC produced per day on average from ASICs, and 67.5 BTC/EH from ASICs in October. The Company ended the month with 3.97 EH/s of BTC month end hashrate as of October
