Mining Firm HIVE Blockchain Mined 259 BTC Last Month

Reading Time: < 1 minute

HIVE Blockchain Technologies mined 259 Bitcoins in June (~$7.8 million at the time of writing), bringing their reserves up to 1967 BTC.

The miner’s average hash rate for the month was 3.38 EH/s, which represents a 3% increase compared to May’s figures.

With the deployment of a batch of ASIC devices based on Intel chips, HIVE plans to increase its fleet capacity, with the aim of reaching 4 EH/s by August and 6 EH/s by the end of the year.

President and CEO of HIVE, Aydin Kilic, reports that in the first week of July, their ASIC hashrate had already reached 3.4 EH/s.

The difficulty of mining BTC also increased, with the indicator rising 2.18%, to a maximum around 52.35 T, after the recalculation on June 14. In 2022, HIVE mined 3146 BTC.

Altogether, throughout the period of that time, the firm’s total production of digital assets was 4,752 BTC.

Coin Metrics reports that in the second quarter of 2023, bitcoin miners earned $184 million from transaction fees, a 270% increase from before.