HIVE Digital Technologies Ramps Up Bitcoin Mining, Hits 276.3 BTC in November

<p>HIVE
Digital Technologies, a cryptocurrency mining and data center operator, has announced
its Bitcoin (BTC) production from November and data center acquisition details.
According to the latest numbers, the company mined 276.3 BTC last month, rising
from October's dip of 265.9 BTC.</p><p>HIVE Provides Bitcoin
Mining Update</p><p>The company's
latest mining numbers equate to an average of 9.2 bitcoins per day or 66.7
bitcoins per exahash of mining capacity. HIVE ended November with 4.18
exahashes per second of Bitcoin mining capacity, <a href="https://www.financemagnates.com/cryptocurrency/hives-mining-capacity-hits-4-ehs-despite-production-dip-in-october-2023/" target="_blank" rel="follow">representing a monthly
increase</a> of 5.4%.</p><p>"The
Company's HODL position at the end of November 2023 was 1,627 BTC," HIVE
commented in the official press release. "Our HODL position is down from
last quarter because HIVE has been investing in new ASIC chips for our future
growth and efficiency."</p><p>Furthermore,
the company has announced the recent <a href="https://www.financemagnates.com/terms/a/acquisition/">acquisition</a> of Bitmain S19k Pro
miners, each boasting an efficiency of 23 J/TH.</p><blockquote><p lang="en" dir="ltr">The purchase of 5,000 Bitmain S19k Pro ASIC miners demonstrates our focus on growing our hash rate, while also improving our overall average fleet efficiency. This will lower and optimize our cost of production per Bitcoin ahead of the upcoming <a href="https://twitter.com/hashtag/BitcoinHalving?src=hash&amp;ref_src=twsrc%5Etfw">#BitcoinHalving</a> in April 2024 with… <a href="https://t.co/vsrtvjb1iz">pic.twitter.com/vsrtvjb1iz</a></p>— HIVE Digital Technologies (@HIVEDigitalTech) <a href="https://twitter.com/HIVEDigitalTech/status/1731774032456880354?ref_src=twsrc%5Etfw">December 4, 2023</a></blockquote><p>HIVE's New Data Center</p><p>HIVE also <a href="https://www.financemagnates.com/forex/news-nuggets-27-november-argo-welcomes-new-ceo-hive-acquires-swedish-data-center/" target="_blank" rel="follow">acquired
a data center</a> facility in Boden, Sweden, to expand access to renewable
hydroelectric power. The company acquired the property, including a 6-megawatt
<a href="https://www.financemagnates.com/terms/d/data-center/">data center</a>, from Turis AB in exchange for $750,000 cash and 345,566 HIVE
common shares, valued at $2.8938 per share.</p><p>Aydin
Kilic, the CEO of HIVE, commented that the data center acquisition furthers the
company's commitment to acquire hard assets and is expected to add 250
petahashes per second of additional bitcoin mining hashrate capacity.</p><p>"This
new data center is only 200 meters from our existing data center," added Johanna
Thornblad, the Country President for HIVE Sweden.</p><p>Move to AI</p><p>The company
<a href="https://www.financemagnates.com/cryptocurrency/crypto-miner-hive-announces-rebranding-wants-to-focus-on-ai/" target="_blank" rel="follow">has rebranded</a> to adopt the rapidly evolving landscape of high-performance
computing (HPC) and artificial intelligence (AI). This change signifies the
company's strategic departure from its foundational focus on cryptocurrency,
steering towards the fast-expanding and increasingly adopted AI technologies. </p><p>Additionally, HIVE is realigning its priorities
to maximize the potential of <a href="https://www.financemagnates.com/cryptocurrency/riot-pivots-to-electricity-and-hive-to-ai-as-bitcoin-mining-profits-plummet/" target="_blank" rel="follow">its Supermicro servers</a>, aiming to provide
significant computational resources to the AI and HPC sectors.</p>

This article was written by Damian Chmiel at www.financemagnates.com.