HIVE Digital Technologies released its unaudited production results for November 2024, reporting that it mined 103 Bitcoin during the month. The company's Bitcoin holdings increased to 2,713 Bitcoin, representing a 67% year-over-year rise. These holdings were valued at over $261 million at the end of November 2024, based on a Bitcoin closing price of approximately $96,400.
During November, HIVE maintained an average mining capacity of 5.3 Exahash per Second (EH/s) with a fleet efficiency of 22.3 Joules per Terahash (J/TH), achieving a peak hashrate of 5.7 EH/s. Daily production averaged 3.42 Bitcoin, equating to 19.3 Bitcoin per Exahash.
Strategic developments included the acquisition of 11,500 Avalon ASIC miners from Canaan Inc. and securing 8.6 EH/s of Bitmain S21+ Hydro machines. These acquisitions aim to increase HIVE’s Bitcoin mining capacity to 15 EH/s by the summer of 2025 with a blended fleet efficiency of 17 J/TH. This expansion is fully funded through an at-the-market equity program and is expected to generate over $300 million in annual revenue and more than $200 million in mining margin.
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