Hive Digital Technologies’ Frank Holmes Discusses September Bitcoin Mining Results and Future Plans [Video]

Hive Digital Technologies Executive Chairman Frank Holmes joined Steve Darling from Proactive to share the company’s unaudited production results for September 2024. Hive mined 112 Bitcoin, increasing its HODL portfolio by 1.4% month over month, bringing the total to 2,604 BTC, with a valuation exceeding $160 million. The company continued its focus on efficient operations, maintaining a strong Bitcoin mining capacity of 5.6 Exahash per second (EH/s), primarily using hydroelectric power.
Holmes highlighted that Hive achieved an operational efficiency of 21.1 Bitcoin per Exahash, with an average hashrate of 5.3 EH/s, resulting in a daily production rate of 3.73 BTC.
Hive’s growth plans include an expansion in Paraguay, with a target of reaching 2% of the global Bitcoin mining network by late 2025, equating to 9 Bitcoin produced daily. By the end of September, the company was already producing over 4 BTC per day, thanks to its upgraded ASIC fleet, currently operating at 128 MW. Over the next six months, Hive plans to further enhance efficiency by replacing older ASICs with the new S21 Pro models. Additionally, Hive maintained its active presence in the blockchain community, sponsoring major blockchain events in Europe and holding a listing in Germany.

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