Today's News |
HIVE Digital Technologies Announces Bitcoin Production and HODL Growth in February 2024 to 2,131 Bitcoins
Thursday, March 7, 2024Company Profile | Follow Company
Vancouver, BC, March 7, 2024--(T-Net)--HIVE Digital Technologies (TSX.V: HIVE) (Nasdaq: HIVE), a pioneer in green energy-powered blockchain infrastructure, proudly announces its unaudited production figures for February 2024.
The Company has increased its Bitcoin holdings by 10% and its HODL position at month end was 2,131 Bitcoin on its balance sheet. The Company has maintained over 4.06 Exahash ("EH/s") of Bitcoin mining capacity on average for February 2024 (all amounts in US dollars, unless otherwise indicated).
February 2024 Highlights:
Strategic HODL Increase:
As of March 4, 2024, HIVE's HODL position increased further to 2,159 Bitcoin, up from 2,131 BTC at the end of February 2024.
This continuing increase aligns with the Company's strategy to strive to HODL, anticipating heightened demand for Bitcoin due to the adoption of Bitcoin as an alternative asset class as witnessed with stunning fund flows into the recent launching of Bitcoin ETF's.
"We believe as we approach the Halving event in April, the short-term volatility will remain high, and investors must be aware that HIVE like our peers are usually correlated with Bitcoin but with a greater amplitude in price volatility" said the company in its release.
Frank Holmes, Executive Chairman, said, "Our HODL strategy is to have a healthy balance sheet similar to what we had for the last Halving event in 2020.
Aydin Kilic, President & CEO, highlighted the Company's technological stability with the integration of Bitmain S21 Antminers into its mining fleet. "These advanced machines not only bolster our mining efficiency but also provide sustainable stability by significantly reducing the cost of Bitcoin production," Kilic noted.
Operational Excellence and Future Outlook:
HIVE says it remains at the forefront of the blockchain technology sector, continuously enhancing its mining efficiency and expanding its green energy-powered data center facilities across Canada, Sweden, and Iceland. With a focus on financial stability, growth and innovation, HIVE says it is well-positioned to navigate the volatile crypto market dynamics while securing balanced growth and value for its stakeholders.
About HIVE Digital Technologies Ltd.
HIVE Digital Technologies Ltd. went public in 2017 as the first cryptocurrency mining company listed for trading on the TSX Venture Exchange with a sustainable green energy focus.
HIVE is a growth-oriented technology stock in the emergent blockchain industry. As a company whose shares trade on a major stock exchange, we are building a bridge between the digital currency and blockchain sector and traditional capital markets. HIVE owns state-of-the-art, green energy-powered data centre facilities in Canada, Sweden, and Iceland, where we endeavour to source green energy to mine digital assets such as Bitcoin on the cloud.
Since the beginning of 2021, HIVE has held in secure storage the majority of its treasury of ETH and BTC derived from mining rewards. Our shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of Bitcoin. Because HIVE also owns hard assets such as data centers and advanced multi-use servers, we believe our shares offer investors an attractive way to gain exposure to the cryptocurrency space.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release Forward-Looking Information Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes, but is not limited to, statements with respect to information about the Offering and the use of proceeds, potential dilution and application of the Penalty Provision; business goals and objectives of the Company; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon. [ MORE ] |
Company Snapshot |
||
HIVE Digital Technologies Ltd.
Vancouver (Other Tech Sectors)
|
Other Recent Company News |
|||||||||||||||||||
|