The actions of Blockchain and the infrastructure provider of IA Hive Digital Technologies (HIVE) increased on Friday, stimulated by the Rally Bitcoin Rally and a series of operational milestones in its mining activity.
Hive jumped almost 6.5% to reach $ 2.47 per share, which increased its market capitalization to around $ 530 million. The stock climbed more than 21% in last month, in accordance with a wider rebound among the mining Bitcoin (BTC) shares.
The last rally was fueled by news that Hive Digital exceeded 12 exams per second (EH / S) of Bitcoin extraction, doubled its production since the start of the year. The company currently generates more than $ 250 million in annualized income and plans to reach $ 400 million once it is playing up to 18 h / s.
CEO Aydin Kilic said the company now operated more than 6 BTC per day with an operating room of around 55%.
Hive ranks among the 20 largest public Bitcoins holders, with 2 201 BTC reported in his latest file.
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Middle Bitcoin extraction costs increase
The Bitcoin mining industry has been faced with significant operational challenges since the last reduction by half, which reduced minors’ awards by 50%. This sharp drop in income, combined with energy costs, equipment and high general costs, made profitability more difficult to maintain.
To keep one step ahead of these pressures, some minors have diversified their commercial models by transforming in the workloads of artificial intelligence (AI) and high performance IT (HPC). The first signs indicate that this pivot towards AI is paying, in particular for Core Scientific, which avoided the financial collapse in part by moving to the resources towards the operations of the AI. Core Scientific has since been acquired by Coreweave in an All Stock agreement of $ 9 billion.
Hive Digital told Cintelegraph last September that he had reused several GPUs for IA workloads – a decision that increased his income considerably. The company highlighted the new NVIDIA H100 chips as a key engine of this growth.
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