RETRANSMISSION: HIVE Digital Announces 119 Bitcoin Produced in June 2024, HODL Grew 2% to

HIVE Digital Technologies reported mining **119 Bitcoin in June 2024**, resulting in a 2% increase in its HODL (Hold On for Dear Life) position to **2,496 BTC**. The company’s **average mining capacity** was maintained at over **4.7 Exahash per second (EH/s)**. This stability in mining capacity is notable as it highlights operational efficiency and the ability to sustain performance over time.

From a financial perspective, the increase in HODL could be seen as a positive for investors considering the potential future value appreciation of Bitcoin. As of July 7, 2024, HIVE’s Bitcoin holdings valued at over $140 million enhance its enterprise value, providing a strong balance sheet compared to peers. The company aims to further enhance its mining capacity with the shipment of 2,150 S21 Pro miners, expected to increase the operational hashrate to **5.5 EH/s**. This strategic move could help HIVE improve its competitive standing and revenue potential in the near term.

While the focus on increasing Bitcoin holdings and operational efficiency is commendable, investors should also be aware of the inherent volatility of cryptocurrency markets. The value of Bitcoin can fluctuate significantly, impacting the company’s financial position. Additionally, operational risks such as potential delays in miner shipments or installation could temporarily affect HIVE’s mining capacity and production.

HIVE has demonstrated a robust operational capability by maintaining an average hashrate of **4.7 EH/s** in June 2024 and achieving **25.0 Bitcoin per Exahash** efficiency. The pending delivery of **1,150 S21 Pro miners** and an additional **1,000 S21 Pro miners** is a significant upgrade. These miners are known for their high efficiency, measured in **Joules per Terahash (J/TH)**, which indicates lower energy consumption and potentially lower operational costs.

Achieving a global fleet efficiency of **24.5 J/TH** is particularly impressive, as it positions HIVE among the more efficient Bitcoin miners in the industry. This efficiency not only reduces energy costs but also aligns with HIVE’s focus on sustainability, leveraging green energy sources for mining operations.

However, the real impact will depend on the timely installation and operational integration of these new miners. Any delays could affect the anticipated increase in hashrate and efficiency. Additionally, technological advancements in mining hardware are rapid, so continuous upgrades are important for maintaining competitive advantage.

HIVE’s strategic moves to increase its **Bitcoin HODL** and operational efficiency come at a time when the cryptocurrency market shows signs of resilience. By mining **4.0 BTC per day** and increasing their HODL position, HIVE underscores its commitment to long-term value creation.

The shipment of an additional **2,150 S21 Pro miners** is expected to boost their hashrate to **5.5 EH/s** by the end of July. This should not only enhance their production capacity but also signal to the market that HIVE is scaling up its operations to meet growing demand.

Comparatively, HIVE’s lower General & Administrative (G&A) costs and shareholder dilution are favorable metrics. These aspects make HIVE an attractive proposition for investors looking for efficient, growth-focused companies in the blockchain and cryptocurrency sectors.

Nonetheless, market sentiment towards Bitcoin and overall cryptocurrency regulation remain variables that could impact HIVE’s market positioning. The company’s strong performance metrics and strategic enhancements provide a solid foundation, but investors should monitor broader market trends and regulatory developments closely.