Bitcoin Miner HIVE Blockchain Mined 307 Bitcoin In October

According to a production report made public on Monday, Bitcoin miner HIVE Blockchain currently has 3,311 bitcoin worth $68.8 million.

The audit also showed that HIVE has no debt servicing obligations related to its digital assets or mining equipment, even though a number of its competitors are feeling the pinch of the bear market.

Hive mined 307 Bitcoin in October at an average of 115 Bitcoin per exahash from ASIC and GPU mining operations. Executive Chairman Frank Holmes stated:

“We are very happy to be producing over 300 Bitcoin per month, which is about 1% of the global network, even when network difficulty is at an all-time high. We have sold all our Ethereum holdings. In October we produced an average of 9.9 Bitcoin per day.”

Aydin Kilic, President & COO of HIVE, noted:

“We continue to strive for operational excellence, ensuring that as we scale our hashrate we also optimize our uptime, to ensure ideal Bitcoin output figures.”

As the market continues to fall toward winter, it appears that Bitcoin miners’ activities are becoming more challenging. After a $27 million agreement fell through last week, Argo Blockchain is looking for a source of funding, while Compute North, one of the biggest operators of crypto-mining data centers, filed for bankruptcy after owing up to $500 million to at least 200 creditors.

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