Hive Digital says BTC miners bought last Dec have already paid themselves off

Bitcoin (BTC) miner Hive Digital Technologies says the determination to get a fleet of Bitmain mining rigs past twelvemonth has already paid for itself, owed successful ample portion to a important summation successful the terms of Bitcoin. 

In a Dec. 8 statement, Hive Digital wrote that it had been acquiring mining rigs since the illness of FTX, a determination it believes volition enactment it successful a favorable presumption for the upcoming Bitcoin halving, presently slated for April 2024.

276.3 Bitcoin produced from ASIC and GPU mining operations, representing an mean of 66.7 Bitcoin Per Exahash
Produced an mean of 9.2 BTC per day
Ended the period with 4.18 EH/s of mining capacity,… pic.twitter.com/4pWYah2NfD

— HIVE Digital Technologies (@HIVEDigitalTech) December 7, 2023

Hive purchased a full of 3,750 Bitmain S19J rigs connected Dec. 22, 2022, with President and COO Aydin Kilic saying the squad had besides updated its bundle stack to accommodate the caller rigs.

S19J mining rigs were the top-of-the-line ASIC rigs successful 2022, but person since been succeeded by the S19Ks, which boast a little vigor depletion standing than their predecessors.

“Since the illness of FTX successful November 2022, which marked Bitcoin heading into a year-long carnivore market, HIVE has utilized the accidental to get caller procreation ASICs astatine charismatic $/TH prices.”

Overall, since the illness of FTX,  Hive Digital has purchased 29,000 ASICs, with 2 abstracted acquisitions of 9,800 Bitmain S19k Pro mining rigs announced connected Nov. 14 and Dec. 4 this year.

“The astir 29,000 ASICs were purchased astatine an mean terms of astir $13.70/TH,” wrote Hive Digital, describing the acquisition terms arsenic charismatic considering the rigs person an mean output of 26 J/TH.

Hive Digital said the caller acquisitions of mining rigs person seen its planetary fleet ratio emergence to a complaint of 28.9 J/TH with an expected operating hash complaint of 4.8 EH/s by the extremity of December 2023.

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Additionally, Hive reported that it had produced 276.3 Bitcoin successful November 2023 from ASICs and GPUs, representing an mean of 66.7 Bitcoins per Exahash.

Since Jan. 1 this year, Bitcoin has grown much than 160%, resulting successful a boon for miners, galore of which struggled done a peculiarly hard crypto winter spanning from the extremity of 2021 and moving done each of 2022.

Bitcoin is presently changing hands for $43,400, up 9.8% successful the past 7 days, per Cointelegraph terms data.

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