HIVE Reports a Jump in BTC Production during November 2021

HIVE Blockchain Technologies published its production figures for November 2021 today. The crypto mining Crypto Mining Cryptocurrency mining is defined as the process through which the transactions of a digital currency are authenticated then published to blockchain. For every crypto transaction conducted, a crypto miner is in charge of authenticating the information which, if approved, is then updated in the blockchain. Currently, the most popular cryptocurrencies being mined are Bitcoin, Litecoin, Ethereum Classic, Monero, and DASH. How is Cryptocurrency Mined?The process of crypto mining itself involves the s Cryptocurrency mining is defined as the process through which the transactions of a digital currency are authenticated then published to blockchain. For every crypto transaction conducted, a crypto miner is in charge of authenticating the information which, if approved, is then updated in the blockchain. Currently, the most popular cryptocurrencies being mined are Bitcoin, Litecoin, Ethereum Classic, Monero, and DASH. How is Cryptocurrency Mined?The process of crypto mining itself involves the s Read this Term firm produced 218 BTC in the last month. Additionally, HIVE 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 Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term 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 revenue and production. In October this year, the company 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.