HIVE Digital Technologies Bolsters Bitcoin Holdings and Mining Efficiency

In an assertive push to expand its cryptocurrency reserves, HIVE Digital Technologies has successfully increased its Bitcoin holdings by 4%, accumulating a total of 2,377 bitcoins by the end of April.  according to Newsfilecorp.

The Toronto-listed firm also reported a 6% surge in its mining capacity, closing the month with an impressive five exahash per second (EH/s) in mining power. The company achieved an average of 43.6 bitcoin per exahash, with a consistent average hashrate of 4.9 EH/s and an 8% increase in monthly average hashrate.

Aydin Kilic, President and Chief Executive of HIVE, highlighted the company’s strategic advancements post the recent Bitcoin halving event. He mentioned that the upgrades in their mining fleet would adjust their bitcoin breakeven price point to around $45,000 after considering the April 19th halving and current operating costs. 

Executive Chairman Frank Holmes also commented on the company’s robust holding strategy, noting that their ‘HODL’ position remains strong, especially when evaluated on a per-share basis against competitors. He disclosed that HIVE ended the month with approximately $150 million in bitcoin assets, marking a significant increase from the previous year. The company’s strategic financial management has enabled it to leverage market dynamics effectively, thus ensuring substantial asset valuation and minimal general and administrative costs per bitcoin mined.