HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE) announced it increased its Bitcoin holdings by 2% in July.
During the month it produced 116 Bitcoin, or an average of 3.7 Bitcoin per day, bringing the total Bitcoin on its balance sheet to 2,533.
It achieved an average of 24.6 Bitcoin per Exahash, ending the month with 4.9 EH/s and an average hashrate of 4.7 EH/s.
With a Bitcoin HODL value in excess of $164 million, HIVE believes its enterprise value is “very attractive” when compared to its peers.
"Due to our team's effective response strategy to the heat wave in Eastern Canada and their efficient execution of maintenance at our New Brunswick facility completed on July 30th, production decreased only minimally in relation to May and June 2024,” HIVE chief operating officer Luke Rossy commented.
“We are pleased to report that the remainder of our Bitmain S21 Pro Antminers have been delivered and are currently being onboarded, which will aid in mitigating the new all-time high difficulty of 90T, following its last adjustment on July 31st."
Aydin Kilic, HIVE CEO, highlighted that the company made three purchases of next generation ASICs ahead of the Bitcoin halving in April, including 7,000 Bitmain S21 Antminers at 200 terahash per second (TH/s) each with 17.5 joules per Terahash (J/TH) efficiency and 2,500 S21 Pro Antminers at 234 TH/s each and 15 J/TH efficiency.
All 9,500 ASIC miners have been delivered and approximately 8,400 have been installed at HIVE’s facilities in New Brunswick, Canada, and Sweden. The remaining 1,100 ASIC miners are expected to be installed this week.
“This will bring our total installed Bitcoin mining capacity to 5.5 EH/s with a global average fleet efficiency of 24.5 J/TH,” Kilic said.