Bitcoin

April

In 2023, HIVE Digital Technologies Ltd. achieved significant milestones in the cryptocurrency mining industry. The company successfully mined 3,260 Bitcoins, marking a substantial contribution to the global Bitcoin operations. This impressive figure was accompanied by a 100% increase in hashrate, soaring from 2 Exahash per second (EH/s) at the end of 2022 to 4 EH/s by the end of 2023, according to <a href="https://hivedigitaltechnologies.com/news/hive-digital-provides-recap-of-calendar-year-2023-mining-3260-bitcoin/">Hivedigitaltechnologies</a>.&nbsp; 
HIVE maintained a consistent presence in the global Bitcoin mining network, contributing to about 1% of the network's total output. This was achieved by mining an average of 9 Bitcoins daily throughout 2023.&nbsp; 
Financially, HIVE concluded the year with $17 million in cash and a substantial Bitcoin position of 1,704 BTC. The company's strategy to hold (HODL) all its Bitcoin is in anticipation of the upcoming Bitcoin Halving in April 2024.&nbsp; 
On the hardware front, HIVE announced the shipment of all 9,800 <a href="https://ultramining.com/en/manufacturers/bitmain/">Bitmain</a> S19k Pro Antminers ordered earlier in the year. About 70% of these miners have already been installed, with the rest expected to be operational by the end of January 2024. Once fully installed, HIVE's ASICs capacity is expected to reach 4.8 EH/s with an average efficiency of 28.7 J/TH. Additionally, the planned installation of 7,000 Bitmain S21 Antminers, starting in January and expected to be completed by June 2024, will further enhance HIVE's fleet efficiency to 25 J/TH and total active mining capacity to 5.6 EH/s. 
These developments underscore HIVE Digital Technologies Ltd.'s commitment to maintaining a significant and efficient presence in the Bitcoin mining industry, keeping pace with technological advancements and network growth while reinforcing its financial and operational strengths.&nbsp;

HIVE Digital’s 2023 Milestones: Mining 3,260 Bitcoins and Doubling Hashrate

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