Hive Hash Rate Boost Causing Increased Exa Hash In BTC Mining 2022
Hive has really positive leadership. They desire to be environmentally friendly by utilizing sustainable green energy in the future and present.
HIVE is delighted to reveal its January 2022 production figures and mining capability:
– 264 BTC Produced
– 1.87 Exahash of Bitcoin mining capability
– 2,170 ETH Equivalent Produced
– 4.56 Terahash of Ethereum mining capability.
Frank Holmes, Executive Chairman of HIVE specified “We are once again delighted that HIVE continues with its strong momentum in broadening Bitcoin hashing power even as the network problem continues its upward motion. In January we produced approximately 8.5 BTC each day, and we are happy to keep in mind that since today, we are producing roughly 8.9 BTC a day. Our Bitcoin hashing power increased in January and at the calendar month-end our hashrate was 1.87 Exahash, which equated into a 10% boost in BTC mining hashrate on a month over month basis, while BTC costs fixed.
Mr. Kilic continued, “We likewise would like to offer an upgrade on the BTC and ETH equivalency, where one can correspond the worth of the coins produced daily. The ETH that HIVE produced throughout the month of January, corresponded on an everyday basis, is around equivalent to a month-to-month overall of 161 BTC, which we refer to as Bitcoin equivalent or BTC equivalent.
The Company’s overall Bitcoin comparable production in January 2022 was:
– 425 BTC Equivalent Produced
– 13.7 BTC Equivalent produced daily typically
– 2.9 Exahash of BTC Equivalent Hashrate (BTC hashrate plus comparable ETH Hashrate).
Network Mining Difficulty and Energy Markets.
The Bitcoin network problem increased as much as 10% and likewise the Ethereum network trouble increased around 7.5% throughout the month of January. These aspects effect our gross revenue margins.
This seasonal curtailment impacts many crypto-mining business running in Quebec, along with HIVE. We are pleased we have actually continued to broaden our centers and brand-new devices has actually gotten here throughout the month to increase our PH to 1.87 Exahash for BTC mining.
About HIVE Blockchain Technologies Ltd. HIVE Blockchain Technologies Ltd. went public in 2017 as the very first cryptocurrency mining business with a green energy and ESG method.
As a business whose shares trade on a significant stock exchange, we are developing a bridge in between the digital currency and blockchain sector and conventional capital markets.
Because the start of 2021, HIVE has actually held in safe storage the bulk of its ETH and BTC coin mining benefits. Our shares offer financiers with direct exposure to the operating margins of digital currency mining, as well as a portfolio of cryptocurrencies such as ETH and BTC.
Forward Looking Information.
Other than for the declarations of historic truth, this press release includes “positive details” within the significance of the suitable Canadian securities legislation that is based upon expectations, price quotes and forecasts as at the date of this press release.
Forward-looking details in this press release consists of, however is not restricted to, service objectives and goals of the Company; and other positive info worrying the intents, strategies and future actions of the celebrations to the deals explained herein and the terms thereon.
Elements that might trigger real outcomes to vary materially from those explained in such positive details consist of, however are not restricted to, the volatility of the digital currency market; the Company’s capability to effectively mine digital currency; the Company might not have the ability to successfully liquidate its present digital currency stock as needed, or at all; a product decrease in digital currency rates might have a considerable unfavorable influence on the Company’s operations; the volatility of digital currency costs; ongoing results of the COVID-19 pandemic might have a product unfavorable impact on the Company’s efficiency as supply chains are interrupted and avoid the Company from performing its growth strategies or running its properties; and other associated threats as more totally set out in the registration declaration of Company and other files divulged under the Company’s filings at www.sec.gov/EDGAR and www.sedar.com.
The positive details in this news release shows the existing expectations, presumptions and/or beliefs of the Company based on details presently offered to the Company. In connection with the positive info included in this news release, the Company has actually made presumptions about the Company’s goals, objectives or future strategies, the timing thereof and associated matters.