HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE) reported a 2% increase in its bitcoin holdings after mining 119 of the digital coins in June and said it was expecting its order of new miners to arrive and be installed by the end of the month.
The green energy-powered blockchain specialist said it had a total of 2,496 bitcoin on its balance sheet, up from 2,377 at the end of the prior month.
As of July 7, 2024, HIVE said its 'HODL' holdings had increased to 2,503 BTC and that its bitcoin value stood at of over $140 million.
This means its enterprise value "looks very attractive compared to its peers", HIVE said.
Executive chairman Frank Holmes said: "Over the past 18 months, the management team has consistently been a top-tier efficiency performer at its data centers, amongst the lowest G&A to mine a Bitcoin and one of the lowest in shareholder dilution."
Last month saw an average bitcoin mining capacity of over 4.7 exahash, ending up at 4.9 EH/s, which was in line with the average in May.
CEO Aydin Kilic said the company has received confirmation that the remaining batch of machines in its order for Bitmain S21 Antminers are "ready to ship" and have been upgraded to S21 Pro, representing around 1,150 S21 Pro miners from the original order in December.
"Additionally, the new purchase of 1,000 S21 Pro Miners announced in our May production report are now ready to ship.
"Therefore, we expect the total 2,150 pending S21 Pro miners to ship in the next week, bringing HIVE's total operational hashrate to 5.5 EH/s once fully installed, with a global fleet efficiency of 24.5 J/TH.
"HIVE expects these machines to be installed before the end of July," Kilic said.