Exploring the Surge in Shares of Bitcoin Miner Hive Digital Exploring the Surge in Shares of Bitcoin Miner Hive Digital

Written By Michael Gary Scott

Mining Operations Update

HIVE Digital Technologies Ltd HIVE has experienced a surge in its shares following the company’s operations update for December.

December Highlights: Hive Digital revealed that it produced 282.8 Bitcoin in December, maintaining an average hashrate of 3.95 EH/s. The company’s daily average production stood at 9.1 bitcoin, equating to approximately 1% of the global network. Additionally, Hive boasted a mining capacity of 4.08 EH/s by the end of December.

The New Brunswick facility, currently operating at 1.8 EH/s, is undergoing final maintenance and is anticipated to resume full operation this month.

Key Appointments and Bitcoin Price Impact

The company also announced the appointment of Luke Rossy as chief operating officer and Mario Sergi as chief information officer. The recent surge in Bitcoin prices could also be contributing to the positive momentum in Hive’s shares. Bitcoin registered a 3.82% increase over a 24-hour period, reaching $44,073 at the time of publication and marking a notable 155% increase over the past year.

Company Perspectives

Aydin Kilic, president and CEO of Hive, remarked, “I have worked very closely with Luke in this time, where our goal has been for HIVE to lead as the most efficient Bitcoin miner.” Kilic emphasized Luke’s expertise in Bitcoin mining systems and analytics, potentially signaling a strategic focus on operational efficiency and performance.

The Rise in Hive Shares: Hive shares surged by 6.98% to $4.60 during the time of writing, according to Benzinga Pro. As the industry continues to witness heightened interest and development, the impact of Bitcoin’s price shifts is being felt throughout the sector, potentially influencing stock movements of mining companies such as Hive Digital.

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Photo: EivindPedersen from Pixabay.