Results of HIVE Blockchain: 3,146 BTC mined during the last year

HIVE Blockchain managed to get 3,146 bitcoins by the end of the last year. It is 18% more than in the previous similar period. Representatives of the BTC-miner note that such a result was achieved in low market conditions and with a significant increase in complexity.

During December, the miner got 213.4 coins, of which 1.4 were mined using GPUs. At the same time, HIVE Blockchain received an additional $3.15 million from electricity sales. The company reported installing 2,050 units from Bitmain out of the 3,57,000 units planned for delivery.

In addition, 1,423 miners were launched based on Intel’s new chip. The total order reaches 5,800 units, and HIVE expects the plugging and testing process to be completed in January.

This new hardware will be used as a replacement for outdated asic and GPUs, which will increase the efficiency of BTC mining.

As a reminder, the company sold off its reserves in Q3 last year to fund the expansion. Miner spokesman Frank Holmes talked about the prospects he saw in a challenging environment:

A depressed market offers growth opportunities amid a 90 percent drop in equipment costs and a 70 percent drop in bitcoin. By acquiring capacity at current prices, HIVE is getting a high return on capital invested.

At the moment BTC-miner reserves reach 2348 BTC.