HIVE Blockchain Produces 278 BTC in March 2022

Nasdaq-listed HIVE Blockchain Technologies has recently published its production figures for March 2022. During the reported period, the mining company produced 278.6 BTC and more than 2,400 ETH.

As far as Bitcoin equivalent production is concerned, the number reached 447.4 BTC. On average, HIVE produced approximately 14.4 BTC equivalent per day. The mining firm has increased its crypto holdings significantly in the last few months.

As of 3 April 2022, HIVE holds 2,568 Bitcoin and 16,196 Ethereum. The latest surge in the company’s crypto production is due to an increase in its mining capacity. HIVE recently accomplished two milestones, including 2 Exahash of Bitcoin mining and 6 Terahash of Ethereum mining. In addition, Frank Holmes, the Executive Chairman of HIVE, highlighted the company’s enhanced mining capacity.

“We are very pleased to report HIVE has continued its extremely strong momentum in expanding our hashing power, notably our Ethereum mining hash power grew by 33% this month. In March, we produced an average of 9.0 BTC per day, and we are pleased to note that as of today, we are producing approximately 9.0 BTC a day even after the recent difficulty increase of 4%. Our Bitcoin hashing power increased in March and at the calendar month-end our hash rate was 2.0 Exahash, which translated into a 6% increase in BTC mining on a month over month basis, while BTC prices corrected,” Holmes said.

Growth Outlook

HIVE Blockchain aims to expand its hash rate substantially in the coming months. Moreover, the public-listed company outlined its strategic initiatives to secure ASIC and GPU hardware to accomplish its hash rate growth targets.

Aydin Kilic, the President & COO of HIVE, noted: “We continue to strive for operational excellence, ensuring that as we scale our hash rate as a company we also optimize our uptime, to ensure ideal Bitcoin and Ethereum output figures.”