HIVE has been growing its Bitcoin mining fast. Since May, it has mined around 8 Bitcoins a day. This is because the company added new powerful mining machines at its Paraguay site, with more machines arriving every week. The team works hard to keep the machines running and the miners busy, helping HIVE make more Bitcoin every day.
HIVE’s Big Bitcoin Push
HIVE has blasted past 16 exahash per second (EH/s) in mining power. This year, it has targeted to hit 25EH/s by Thanksgiving.
The magic boost came from rolling out brand new ‘Bitmain S21+ Hydro’ miners at the company’s shiny facility in Yguazú, Paraguay. These computers are designed specially for mining use. HIVE has over 5 EH/s running here. It is planning another expansion phase to be launched in September at its Valenzuela site.
Mining Results: More Bitcoin, More Profit
Frank Holmes, Executive Chairman, says, “Each exahash deployed directly contributes to daily Bitcoin production and revenue. Mining economics are transparent, mathematically determined, and publicly available.”
The company’s machines have an efficiency score of 18.4 joules per terahash (which shows how much electricity it takes to mine). That number will get even better, down to 17.5 J/TH, after the next upgrade.
Right now, Bitcoin is priced near $113,000. With current network conditions, HIVE is making about 60 cents profit for every dollar that comes in after paying for electricity.
More Details on the Hive Company
- Market value: around $645 million
- Shares: Around 229.69 million
- Bitcoin stash: ~2,201 BTC worth over $68 million
- Stock: Down 8% this year, but shot up over 10% in the last week
HIVE spends most of its money (up to 90%) on electricity, so using only green hydroelectric power is good for both the earth and the company. And, every leap in mining power can be tracked with simple math using public blockchain data, no secrets, just straight facts.
CEO Aydin Kilic sums up: “Clean, green, and funded by our operations, our purpose is clear: to build resilient, decentralized infrastructure that secures the future of Bitcoin while generating robust, lasting cash flow for our shareholders.”
So, what do you think of HIVE’s strategy? Would you bet on a company that’s pairing cutting-edge tech and green energy to win big in Bitcoin? Share your take. This world moves fast, and everyone’s opinion counts when it comes to the future of digital money.
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