Blockchain shares and AI Infrastructure Provider Hive Digital Technologies (Hive) rose on Friday, strengthened by the Bitcoin’s record rally and a series of milestones in operation in the mining business.
Hive jumped nearly 6.5% to $ 2.47 per part, raising market capitalization to nearly $ 530 million. Stock climbed more than 21% in the last month, in accordance with a wider rebound among Bitcoin (Btc) Mining stocks.
The latest rally is that -fueled by News That Hive Digital exceeds 12 exahashes per second (eh/s) of Bitcoin mining hashrate, doubling its output since the start of the year. The company is currently making up more than $ 250 million in the annual income and is expected to reach $ 400 million once it scale up to 18 eh/s.
The CEO Aydin Kilic said the company now minisines more than 6 BTC per day with an operating margin of approximately 55%.
Hive ranks of the 20 largest public holders of Bitcoin, with 2,201 BTC reported in the latest filing.
Related: Investors are wrapped in ‘excess’ Bitcoin Miner Exec Pay: Vaneck
Average bitcoin mining costs
The Bitcoin mining industry has faced significant operational challenges since the latest division, cutting down miners’ block rewards by 50%. The sharp income collapse, combined with high energy, equipment and overhead cost, has made it more difficult to maintain the ability to benefit.
To stay ahead of these pressures, some miners vary in their business models by expanding artificial intelligence (AI) and high-performance computing workloads (HPC). Early signs indicate that this pivot toward AI pays, Noticeably for the main scientificavoiding financial collapse in part by transferring resources to AI operations. The basic scientific is from coreweave got In a $ 9 billion all-stock deal.
Hive Digital told Cointelegraph In September it re -repurposed some GPUs for AI workloads – a transfer that significantly increased its income. The company has featured Nvidia’s new H100 chips as a major growth driver.
Related: Tether plans to open the Bitcoin Mining OS source; CEO says ‘no need’ for 3rd party sellers
