HIVE Blockchain Technologies (NASDAQ: HIVE) (TSX.V: HIVE) (FSE: HBFA) today announced production figures from the company’s global bitcoin operations for the month of November 2022. Among the highlights, HIVE reportedly produced 264 bitcoin in the month of November, from ASIC and GPU mining operations, with a monthly average hashrate of 2.51 exahash, representing an average of 105 bitcoin per exahash. “In November, we continued to face several external macro forces, which increased market turbulence due to the contagion concerns caused by the FTX implosion, rising interest rates and pronouncements by various governments on energy concerns,” said Darcy Daubaras, CFO of HIVE. “In response, we took a conservative strategy with our balance sheet and strengthened our liquidity position by selling some bitcoin. We do not control these volatile external risks, but we can control how we adapt. We also began improving the efficiency of our mining fleet with new and more energy efficient equipment purchases, which will provide more room for profitability, countering the effects of rising energy costs, rising global bitcoin mining difficulty since September and bitcoin prices that have remained low.”
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About HIVE Blockchain Technologies Ltd.
HIVE Blockchain Technologies went public in 2017 as the first cryptocurrency mining company with a green energy and ESG strategy. HIVE is a growth-oriented technology stock in the emergent blockchain industry. As a company whose shares trade on a major stock exchange, it is building a bridge between the digital currency and blockchain sector and traditional capital markets. HIVE owns state-of-the-art, green energy-powered data centre facilities in Canada, Sweden and Iceland, where it endeavours to source only green energy to mine digital assets such as bitcoin on the cloud. Since the beginning of 2021, HIVE has held in secure storage the majority of its treasury of ETH and BTC derived from mining rewards. The company’s shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of cryptocurrencies, primarily BTC. Because HIVE also owns hard assets such as data centers and advanced multi-use servers, it believe its shares offer investors an attractive way to gain exposure to the cryptocurrency space. For more information and to register to HIVE’s mailing list, please visit www.HIVEBlockchain.com.
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