2 years ago
Crypto miner Hive Blockchain said fiscal third-quarter gross surged astir 400% to a grounds $68.2 cardinal compared with the year-earlier period.
Net income from continuing operations jumped to $64.2 cardinal successful the 4th ended Dec. 31 from $17.2 cardinal the twelvemonth before.
The summation was driven by an summation successful cryptocurrency prices, the company said successful a statement, arsenic good arsenic the acquisition of facilities successful Quebec and Atlanta, Ga.
Crypto miners person had a stellar twelvemonth arsenic crypto prices soared and the firms deployed much computing power. But the bump successful hashrate owed to the accrued deployment is besides raising the trouble of mining connected the Bitcoin network. In January, it deed an all-time high.
Hive’s bitcoin production was up 12% successful December from the period before, adjacent arsenic the trouble jumped 10%, according to its latest accumulation data. In January, accumulation jumped different 8% to 264 bitcoin.
Hive’s liquid bitcoin and ether holdings reached a gross worth of $168 million, up 11-fold compared with the twelvemonth before. At the extremity of December, Hive was holding 1,813 bitcoin and 23,920 ether.
The Vancouver-based miner has opted to hold onto astir of the crypto it produces. It sold immoderate ether to concern spot upgrades.
UPDATE (Feb. 15, 13:06 UTC): Adds mining manufacture inheritance successful 3rd slug point, details starting successful fourth.
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Sheldon Reback is simply a CoinDesk quality exertion based successful London. He owns a tiny magnitude of ether.
Eliza Gkritsi is CoinDesk's crypto mining newsman based successful Asia.
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