Hive announced the basic rules for profitable mining
Hive Blockchain is one of the leaders in the cryptocurrency mining industry. As of today, the company has a significant amount in BTC on its balance sheet, which is equivalent to $70 million.
Hive trades its shares in several exchanges, including Nasdaq. The miner accumulates bitcoins while informing that it sold all the Ethereum. The number of coins sold is not specified.
Among the principles that allow working effectively in a bearish market, the company attributed the following:
- the absence of loans in which the equipment serves as collateral
- availability of one's fleet of miners
- regular capacity increases through the purchase of new asics
According to the plans of Hive Blockchain within three months the capacity will be increased by 1 EH/s. It includes deliveries of Nicro BT M30S++, which were received at the beginning of November.
Note that at a time when mining equipment is plummeting in value, several companies are investing millions of dollars in cheaper capacity.