Bitcoin (BTC) mining firm Hive Digital Applied sciences says the transfer to amass a fleet of Bitmain mining rigs final yr has already paid for itself, due largely to the numerous enhance in Bitcoin’s value.
In an announcement dated December 8, Hive Digital wrote that it has acquired mining rigs because the collapse of FTX, a choice that it believes will place it favorably for the upcoming Bitcoin halving, at the moment scheduled for April 2024.
276.3 BTC had been generated from ASIC and GPU mining, representing a mean of 66.7 BTC per exahash.
A median of 9.2 bitcoins are produced day by day
It ended the month with a mining capability of 4.18 exahash/s,… pic.twitter.com/4pWYah2NfD— HIVE Digital Applied sciences (@HIVEDigitalTech) December 7, 2023
Hive bought a complete of three,750 Bitmain S19J rigs on December 22, 2022, with president and COO Aydin Kilic saying the staff has additionally up to date its software program stack to accommodate the brand new {hardware}.
The S19J mining rigs had been the highest ASIC rigs in 2022, however have since been succeeded by the S19K rigs, which have a decrease energy consumption score than their predecessors.
“Because the FTX crash in November 2022, which marked Bitcoin heading right into a year-long bear market, HIVE has seized the chance to amass new era ASICs at engaging USD/TH costs.”
General, because the FTX collapse, Hive Digital has bought 29,000 ASICs, with two separate acquisitions of 9,800 Bitmain S19k Professional mining rigs introduced on November 14 and December 4 of this yr.
“Roughly 29,000 ASICs had been bought at a mean value of roughly $13.70 per terahashes,” Hive Digital wrote, describing the acquisition value as engaging provided that the rigs have a mean throughput of 26 joules/terahashes.
Hive Digital mentioned latest mining rig acquisitions have seen the effectivity of its international fleet rise to a charge of 28.9 J/TH with an anticipated working hash charge of 4.8 EH/s by the tip of December 2023.
Associated: Phoenix has struck a $380 million cope with WhatsMiner for inexperienced Bitcoin mining
Moreover, Hive reported that it generated 276.3 BTC in November 2023 from ASICs and GPUs, representing a mean of 66.7 BTC per Exahash.
Since January 1 of this yr, Bitcoin has grown by greater than 160%, which has been a boon for miners, lots of whom have suffered by way of a particularly tough cryptocurrency winter extending from the tip of 2021 and persevering with by way of all of 2022.
Bitcoin is at the moment buying and selling for $43,400, up 9.8% previously seven days, based on Cointelegraph value information.
Flame Corridor X: ‘File Breaking’ Prediction by Bitcoin ETF: Brett Harrison (previously FTX US)
