Mike Smith
December 11
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HIVE Digital Technologies, a renowned player in the cryptocurrency mining market, has demonstrated resilience in the face of current industry challenges. Despite the decline in bitcoin production in November, the organization maintains an optimistic outlook and ambitious development plans.
Last month, the company mined 103 bitcoins compared to 117 BTC in October. However, this minor decline is offset by the impressive growth of cryptocurrency reserves. Over the year, reserves increased by 67% and reached 2,713 thousand BTC, which is equivalent to $ 261 million.
HIVE's technical indicators in November look quite convincing. The average hash rate was recorded at 5.3 EH / s, and the average daily production was 3.42 bitcoins. The maximum efficiency of the mining park reached 22.3 J / Th with a capacity of 5.7 EH / s.
The current situation in the mining market is characterized by the increasing complexity of processes and increased competition. Many major players, including Core Scientific, report a decrease in production volumes. The only exception was MARA Holdings, which increased production by 27% to 254 BTC.
HIVE's strategy includes a large-scale expansion of capacities. The company plans to purchase two large batches of equipment: 11,500 Avalon ASIC miners from Canaan Inc. and Bitmain S21+ Hydro miners with a total capacity of 8.6 EH/s. After full integration of the new equipment, a hash rate of 15 EH/s with an efficiency of 17 J/Th is expected to be achieved.
The management's forecasts are quite optimistic. The planned expansion can generate more than $300 million in annual revenue and about $200 million in net profit from bitcoin mining.
HIVE's investment strategy demonstrates a classic approach to development in a high-tech environment: consistent capacity expansion, equipment optimization, and flexible response to market changes. The company not only adapts to current conditions, but also forms a strategy for accelerated growth.
