Russ Cohen

Insightful Take on Hive Digital Technologies Ltd A Closer Look at Hive Digital’s Recent Performance

HIVE Digital Technologies Ltd HIVE shares are trading higher. The company on Thursday provided an operations update for December.

The December Update

What Happened: Hive Digital reported producing 282.8 Bitcoin in December while maintaining an average hashrate of 3.95 EH/s during the month. The company’s daily average production of 9.1 bitcoin represented approximately 1% of the global network. As of the end of December, Hive had 4.08 EH/s of mining capacity.

Hive noted that its New Brunswick facility is currently operating at 1.8 EH/s while undergoing final maintenance, with full operation expected to resume this month.

New Appointments and Leadership

Hive also appointed Luke Rossy to chief operating officer and Mario Sergi to chief information officer.

“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. Coming from a strong foundation of code implementations in novel applications in proof-of-work algorithms, additionally, Luke has represented HIVE globally at Bitcoin industry conferences, and has developed a mastery of Bitcoin mining systems and analytics,” said Aydin Kilic, president and CEO of Hive.

Market Influence

Hive shares may also be getting a boost from an increase in the price of bitcoin, which was up 3.82% over a 24-hour period at $44,073 at the time of publication. Bitcoin is up more than 155% over a one-year period.

Check This Out: This Whale Scored $78M Profit By Depositing 3.1K BTC Into Binance Ahead Of Bitcoin’s Dive To $40K

Stock Performance

HIVE Price Action: Hive shares were up 6.98% at $4.60 at the time of writing, according to Benzinga Pro.

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Photo: EivindPedersen from Pixabay.