Hive Blockchain Says Produced 278.5 BTC and 2,542 ETH in June

Hive Blockchain said that it at present holds 3,239 bitcoin (BTC) and seven,667 Ethereum (ETH) after producing 278.5 BTC and a pair of,542 ETH in June.

The crypto mining agency additionally said that it elevated its bitcoin mining hash charge from 2.17 exahash per second (EH/s) to 2.24 EH/s, nevertheless, the capability for Ethereum mining barely dropped from 6.26 (TH/s) firstly of June to six.0 TH/s, as some miners have been taken offline briefly for format optimization attributable to larger summer time temperatures.

Hive is assured within the face of market volatility, and CEO Frank Holmes stated the corporate has weathered “crypto winters” earlier than.

As per Holmes, the corporate has strived to “keep a robust stability sheet of Bitcoin and Ethereum which is totally unlevered,” and the enterprise stays money circulation constructive with no “important debt.”

“We’re cautious, in search of out alternatives and stay agency in our perception that Bitcoin and Ethereum will survive to thrive once more after all of the over-leveraged gamers are pressured out of enterprise,” Holmes stated.

In addition to the June report, Hive Blockchain additionally said plans to expand within the coming future by promoting the present manufacturing of BTC and ETH.

“We’re capable of undertake this technique and keep coin stock ranges on account of holding a robust stability sheet place and by no means having entered into any agreements whereby our coin holdings have been staked, put up as collateral, or in any other case put prone to being referred to as by one other get together to cowl a place because of the present decline within the value of cryptocurrency,” stated Hive CFO Darcy Daubaras.

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