HIVE Reports a Jump in BTC Production during November 2021

HIVE Reports a Jump in BTC Production during November 2021

The company produced 218 Bitcoin in the recent month.

HIVE Blockchain Technologies today published its production figures for November 2021. The crypto mining firm produced 218 BTC in the last month. HIVE also generated Bitcoin mining revenues worth $13.2 million in the recent period.

HIVE highlighted its Bitcoin mining capacity in the latest announcement. With a BTC mining capacity of 1.31 ExaHash, HIVE is one of the largest BTC mining firms. As far as Ethereum is concerned, the mining firm produced a total of 2,334 ETH in November. In terms of ETH mining revenue, the number touched $10.4 million last month.

HIVE reported the ETH mining capacity of 4.36 TeraHash. In total, the mining company saw total revenue of $23.6 million. “We are very pleased to report HIVE has continued its strong momentum following our record-breaking October production figures; this trend is continued in our November production where HIVE is again generating over $280M USD in annual revenue on a run-rate basis using November figures, or approximately $350M CAD,” Frank Holmes, Executive Chairman of HIVE, said.

In its recent quarterly report, HIVE saw a substantial jump in revenues and production. In October this year, the company also announced an investment in Network Entertainment.

BTC and ETH Mining

Aydin Kilic, President & COO of HIVE, outlined the relationship between BTC and ETH mining and mentioned that the company has enhanced its mining capacity substantially in 2021. “We would like the investing public and crypto enthusiasts to understand the financial relationship between BTC and ETH mining. For example, in the month of November, 1,000 GH/s of ETH mining was equivalent if measured in daily revenue from the value of coins produced to approximately 228 PH/s of Bitcoin mining. The Company believes its unique position of having a large Bitcoin and Ethereum mining footprint provides investors a unique value proposition,” Kilic said.

Earlier this year, Diana Biggs joined the Board of Directors of HIVE Blockchain Switzerland AG.