HIVE Blockchain mined 259 BTC in June

How does bitcoin mining work?
How does bitcoin mining work?

Mining company HIVE Blockchain Technologies mined 259 BTC in June (~$7.8 million at the time of writing). The volume of her reserves reached 1967 BTC.

The firm’s average hash rate for the month was 3.38 EH/s, including the capacity of the fleet of graphics processing units (GPUs). Compared to the May figures, the current computing power of the miner has increased by 3%.

With the deployment of a batch of ASIC devices based on chips from Intel, HIVE plans to further increase the capacity of its fleet. According to the company’s goals, by August it should reach 4 EH / s, and by the end of the year – 6 EH / s.

“In the first week of July, our ASIC hashrate reached 3.4 EH/s and is expected to continue to rise as most of our previously announced miners have been sent to the sites and we continue to install them in data centers ”, said Aydin Kilic, President and CEO of HIVE.

He also noted the increase in the difficulty of mining the first cryptocurrency. As a result of the next recalculation on June 14, the indicator increased by 2.18%, updating the maximum at around 52.35 T.

Recall that in 2022, HIVE mined 3146 BTC. The firm’s total digital asset production for the period in terms of digital gold was 4,752 BTC.

According to Coin Metrics, in the second quarter of 2023, bitcoin miners’ income from fees increased by 270%. During this period, cryptocurrency miners have earned a total of $184 million in transaction fees.

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