HIVE’s Bitcoin output jumps 49%, but mining revenue still falls

HIVE’s Bitcoin output jumps 49%, but mining revenue still falls

Özet: Kripto piyasasında önemli gelişmeler yaşanıyor.

Bitcoin miner HIVE Digital Technologies produced 49% more Bitcoin in the September quarter than a year earlier, but mining revenue fell as lower Bitcoin prices offset the increase in production.  According to its latest regulatory filing, the company produced 1,070 Bitcoin in the three months ended Sept.

Mining revenue fell 7.4% to $76 million as the average price of Bitcoin fell to $71,003 from $114,382 in the prior-year period.  The weaker revenue came alongside a rising power bill.

Electricity costs increased to $45.6 million from $37.9 million as HIVE expanded its global mining capacity.

HIVE also recorded a $31.2 million noncash write-down on mining equipment, citing “depressed mining economics.”  HIVE’s results add to signs of pressure on Bitcoin mining economics.

American Bitcoin last week reported weaker mining margins despite a treasury-driven quarterly profit, while Core Scientific said it plans to leave mining entirely by year-end.

HIVE is pursuing a different approach, expanding its AI computing business while continuing to invest in Bitcoin production.

In the latest quarter, HIVE’s HPC hosting revenue rose 71% to $8.8 million, accounting for 10.4% of its quarterly revenue.  Related: American Bitcoin’s $126M profit masks mining pressure as rivals turn to AI HIVE said it anticipates spending up to $493 million over 36 months to expand its HPC operations, including acquiring land, building out data center infrastructure and buying up GPUs.

The company reported spending $145.3 million toward that expansion as of the filing.

HIVE also plans to spend about $35 million converting its Toronto facility into a Tier-III data center.

Analiz: Piyasa hareketliliği devam ediyor.