Curated News
By: NewsRamp Editorial Staff
April 08, 2024
Hive Digital Technologies Sees Uptick in Bitcoin and HODL Growth in March 2024, Moving to 2,287 Bitcoins
TLDR
- Hive Digital Technologies increased its Bitcoin holdings by 10% in March 2024, reaching a HODL position of 2,287 Bitcoin.
- Hive maintained over 4.5 Exahash of Bitcoin mining capacity throughout March 2024, successfully mining 224 Bitcoin using ASIC and GPU operations.
- Hive continues to lead the blockchain technology sector, focusing on enhancing mining efficiency and expanding green energy-powered data center facilities.
- Hive's achievement translates to an average of 49.7 Bitcoin per Exahash, showcasing its operational efficiency.
Impact - Why it Matters
The news is important for investors and stakeholders in the cryptocurrency and technology sectors as it showcases Hive Digital Technologies' strong financial position and operational efficiency in Bitcoin mining. The company's significant Bitcoin holdings and mining capacity signify stability and growth potential in the volatile crypto market. Additionally, Hive's emphasis on green energy-powered data centers reflects its commitment to sustainable innovation, which can impact the broader conversation around environmental sustainability in the blockchain industry.
Summary
Hive Digital Technologies Executive Chairman Frank Holmes shared unaudited production figures for Hive Digital Technologies for March 2024, along with updates on the company's Bitcoin holdings and mining operations. The company had approximately $160 million worth of Bitcoin on its balance sheet at the end of March 2024, with a HODL position of 2,287 Bitcoin. Hive maintained over 4.5 Exahash ('EH/s') of Bitcoin mining capacity and successfully mined 224 Bitcoin during the month. The company's average hashrate remained consistent at 4.5 EH/s throughout the month, with an 11% increase in the monthly average hashrate compared to previous periods. Hive Digital Technologies continues to lead the blockchain technology sector, focusing on enhancing mining efficiency and expanding its green energy-powered data center facilities across Canada, Sweden, and Iceland.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Hive Digital Technologies Sees Uptick in Bitcoin and HODL Growth in March 2024, Moving to 2,287 Bitcoins
![blockchain registration record for the source press release.](https://cdn.newsramp.net/qrcode/a874263eae3235edc8dc6c167ee38e57.webp)