Hive Digital made a sizeable ASIC miner buy in December 2022. Only one yr later, because of a Bitcoin growth, the crypto miner says the rigs have paid for themselves.
5102 Complete views
23 Complete shares
Bitcoin (BTC) miner Hive Digital Applied sciences says the transfer to amass a fleet of Bitmain mining rigs in 2022 has already paid for itself, largely as a consequence of a big enhance within the worth of BTC.
In a Dec. Eight assertion, Hive Digital wrote that it had been buying mining rigs for the reason that collapse of FTX, a choice it believes will put it in a good place for the upcoming Bitcoin halving, at the moment slated for April 2024.
276.Three Bitcoin produced from ASIC and GPU mining operations, representing a median of 66.7 Bitcoin Per Exahash
Produced a median of 9.2 BTC per day
Ended the month with 4.18 EH/s of mining capability,… pic.twitter.com/4pWYah2NfD— HIVE Digital Applied sciences (@HIVEDigitalTech) December 7, 2023
Hive bought 3,750 Bitmain S19J rigs on Dec. 22, 2022, with president and chief working officer Aydin Kilic saying the group had additionally up to date its software program stack to accommodate the brand new rigs.
S19J mining rigs have been the top-of-the-line ASIC rigs in 2022 however have since been succeeded by the S19Ks, which boast a decrease power consumption ranking than their predecessors.
“For the reason that collapse of FTX in November 2022, which marked Bitcoin heading right into a year-long bear market, HIVE has used the chance to amass new technology ASICs at enticing $/TH costs.”
General, for the reason that collapse of FTX, Hive Digital has bought 29,000 ASICs, with two separate acquisitions of 9,800 Bitmain S19ok Professional mining rigs introduced on Nov. 14 and Dec. 4.
“The roughly 29,000 ASICs have been bought at a median worth of roughly $13.70/TH,” wrote Hive Digital, describing the acquisition worth as enticing, contemplating the rigs have a median output of 26 joules per terahash (J/TH).
Hive Digital mentioned the current acquisitions of mining rigs have seen its international fleet effectivity rise to 28.9 J/TH with an anticipated working hash charge of 4.Eight exahashes per second by the top of December 2023.
Associated: Phoenix seals $380M cope with WhatsMiner for inexperienced Bitcoin mining
Moreover, Hive reported that it had produced 276.Three Bitcoin in November 2023 from ASICs and GPUs, representing a median of 66.7 Bitcoin per exahash.
Since Jan. 1, Bitcoin has grown greater than 160%, leading to a boon for miners, a lot of which struggled by a very troublesome crypto winter spanning from the top of 2021 and operating by all of 2022.
Bitcoin is at the moment altering arms for $43,400, up 9.8% within the final seven days, in keeping with Cointelegraph worth knowledge.
X Corridor of Flame: Anticipate ‘information damaged’ by Bitcoin ETF: Brett Harrison (ex-FTX US)
