The Hive Blockchain mines more Bitcoin than Ethereum-


Hive Blockchain​​​, The public Cryptocurrency exchange The platform hopes to create 670 BTC (Bitcoin) and 6,900 ETH (Ethereum) in the last currency quarter ending on December 31, a decrease and an increase from the previous quarter.

In an announcement to investors on Wednesday, Hive announced that it had successfully mined 6,280 Ether from October 1st to December 21st. Currently, it is planning to mine 65+ ETH per day for the remainder of 2021. This is estimated to be 6,900 ETH, which is a decrease of more than 20% from the 8,688 ETH mined between July 1 and September 30. Despite this, Hive is expected to re-enter the flow and expect its Bitcoin production to increase by 2% every quarter, from 656 BTC to 670 BTC.

According to Hive, this surge in Bitcoin was driven by previously disclosed investments in a new generation of miners and the development of our Bitcoin mining facilities. However, compared with the previous quarter, the decline in ether production this quarter will be significantly affected by the 45% increase in the average value of ether. The increase in the amount of Bitcoin mining in the quarter caused the price of Bitcoin to rise by 35% this quarter.

Canadian Crypto mining The company attributed the slowdown in ETH mining to an average difficulty increase of more than 16% during the quarter, which reached a high on December 7 as more projects entered the ecosystem. On the other hand, Hive also stated that as the difficulty increases, the “high” ETH price helps the company support the mining business.

According to the mining company, “Hive has a strong coin inventory, including Bitcoin With Ethereum, we have an ongoing strategy to expand our inventory in 2022. Therefore, we no longer sell coins; instead, we save them until the new year. “

Hive operates in Sweden, Canada and Iceland. It is famous for trying to mine renewable energy. In June, the company announced that it had obtained permission to list on the Nasdaq Stock Exchange. As of press time, the stock is trading at $2.87, which has soared by more than 2% in the past 24 hours.


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