HIVE Blockchain Applied sciences (HIVE), a publicly listed cryptocurrency mining firm, has launched its annual bitcoin (BTC) manufacturing statistics exhibiting an 18% enhance to 4,752 BTC. Nevertheless, the corporate highlights the rising issue of mining and declining profitability amid the extended cryptocurrency winter.
In line with the press launch, HIVE produced 4,032 BTC within the final calendar yr. Whereas this enhance has been described as “modest”, the corporate notes that mining issue has jumped considerably by 46% over the previous 12 months. Thus, if the corporate had stored its mining potential unchanged, the quantity of BTC mined would have dropped by virtually half.
In an effort to fight the rising issue of mining, which, together with falling BTC costs, is considerably lowering profitability, HIVE has invested in new mining tools. In 2022, the corporate bought 3,570 Bitmain S19j Professional miners and 1,879 HIVE BuzzMiners. In December, the manufacturing potential of the miner reached 2.06 EH of the BTC hashrate.
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