HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE) saw its Bitcoin production improve month-over-month in October.
The company produced 117 Bitcoin (BTC), an increase of 1% month-over-month.
The production boost brings HIVE’s Bitcoin HODL portfolio to 2,624 BTC, a year-over-year increase of 51%.
The company's average daily production rate was 3.77 BTC, translating to 22.1 BTC per exahash.
HIVE's holdings are valued at over $184 million, based on a BTC price of around $70,215 as of October 31.
HIVE maintained a mining capacity of 5.3 exahashes per second (EH/s) in October, achieving a fleet efficiency of 22.3 Joules per terahash (J/TH) and a peak hashrate of 5.6 EH/s.
The company also disclosed the commencement of construction for a new 100 MW facility in Paraguay, an hour from the capital city of Asunción.
"Our team's prudent capital management, coupled with monthly ASIC upgrades to more energy efficient chips, has allowed us to grow our Bitcoin portfolio, minimize dilution, and cover operational expenses,” executive chairman Frank Holmes said in a statement.
“The Paraguay facility is a critical component of our Bitcoin growth strategy, and it positions HIVE to deliver long-term value to shareholders through sustainable and profitable growth."
Looking ahead, HIVE told investors it views recent US election outcomes as favorable for the digital asset industry. The re-election of President Trump, paired with a Republican-controlled Congress, is seen as a supportive development for both Bitcoin and broader capital markets. HIVE also acknowledged the ongoing leadership of prominent figures like Elon Musk, whom it regards as a key visionary in digital transformation, particularly in Bitcoin.