Crypto Miner Hive Blockchain Reports 273.4 BTC Produced in May

Crypto Miner Hive Blockchain

Canadian publicly traded cryptocurrency miner Hive Blockchain Technologies produced 273.4 bitcoins and 2,694 ether in May 2022.

HIVE’s Executive Chairman Frank Holmes says that the firm’s Bitcoin mining hash rate expanded by 8% in the month in what is attributed to installations and electrical upgrades.

The executive added that the miner was able to generate an average of 8.8 bitcoins daily as the current production is at about 9.2 BTC per day, despite mining difficulty jumping to 5.5%.

The ETH that HIVE generated in the month, when equated daily, is equal to a monthly total of 185.8 BTC.

Hives’ total Bitcoin equivalent, which combines ether and bitcoins, in May was 459.2 BTC. The firm’s Bitcoin holdings reached 3,186 bitcoins as of June 2, 2022 with 3.4 exahash of BTC equivalent hash rate in the period.

In the annual outlook Hive projects, the firm will report a 6.2 exahash bitcoin equivalent hash rate in one year. The Ethereum network difficulty rose to an average of 4.6% in the period.

Source: Hive

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