CryptoNewsBreaks – HIVE Blockchain Technologies Ltd. (NASDAQ: HIVE) (TSX.V: HIVE) (FSE: HBFA) Issues November 2022 Production Update
, 2022-12-09 12:37:00,
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Dec 09, 2022 (Investor Brand Network via COMTEX) —
HIVE Blockchain Technologies (NASDAQ: HIVE) (TSX.V: HIVE) (FSE: HBFA) today announced production figures from the company’s global bitcoin operations for the month of November 2022. Among the highlights, HIVE reportedly produced 264 bitcoin in the month of November, from ASIC and GPU mining operations, with a monthly average hashrate of 2.51 exahash, representing an average of 105 bitcoin per exahash. “In November, we continued to face several external macro forces, which increased market turbulence due to the contagion concerns caused by the FTX implosion, rising interest rates and pronouncements by various governments on energy concerns,” said Darcy Daubaras, CFO of HIVE. “In response, we took a conservative strategy with our balance sheet and strengthened our liquidity position by selling some bitcoin. We do not control these volatile external risks, but we can control how we adapt. We also began improving the efficiency of our mining fleet with new and more energy efficient equipment purchases, which will provide more room for profitability, countering the effects of rising energy costs, rising global bitcoin mining difficulty since September and bitcoin prices that have remained low.”
To view the full press release, visit https://ccw.fm/wnkUG
About HIVE Blockchain Technologies Ltd.
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