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HIVE Blockchain generates 290.4 BTC in August 2022

By Anonymous

 HIVE Blockchain generates 290.4 BTC in August 2022






With a BTC HODL balance of 3,258 Bitcoin and 5,100 Ethereum as of August 31, 2022, HIVE Blockchain Technologies (NASDAQ:HIVE) reported global Bitcoin and Ethereum mining operations for August 2022. 

With 2.23 Exahash of Bitcoin mining capacity and an average hashrate of 2.07 Exahash of Bitcoin mining capacity, the company generated 290.4 BTC (compared to 279.9 BTC in July 2022). 

The total amount of bitcoin equivalent produced in August 2022 was 518.8 BTC, with an average daily production rate of 16.7 BTC and a hashrate of 3.72 Exahashes of BTC.

While this was going on, the Ethereum mining capacity at the end of August was 6.49, with an average hashrate of 6.19 Terahashes for the entire month. 

By Q1 2023, HIVE anticipates that the hashrate used for mining bitcoins will have increased by over 50%, to over 3.5 Exahash. 

The Bitcoin network difficulty was largely stable during August, increasing by 9.4% towards the conclusion of the month. 

The Ethereum network difficulty increased by 4.4% in August; this had a small negative influence on the company's gross profit margins.

According to Executive Chairman Frank Holmes, "In August we produced an average of 16.7 Bitcoin Equivalent each day, comprising of our Ethereum output of roughly 97 Ethereum per day and approximately 9.4 BTC per day." 

After hours, shares are up 3.71%.

Article Credit: SeekingAlpha

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