Hive Blockchain Outperforms Crypto Miners as Ether Reaches All-Time Excessive

Hive Blockchain, which is among the many largest publicly traded crypto miners of ether, outperformed its friends after the worth of the native token of Ethereum, climbed to a file.

  • Hive (NASDAQ: HIVE) shares rose virtually 3% at 10 a.m. in New York, whereas its friends, which predominantly mine bitcoin, had been largely flat to damaging on Friday.
  • Among the many publicly traded corporations, the Canadian miner is most uncovered to ether mining and in addition mines ethereum basic and bitcoin.
  • Hive had about $63 million of ether, which is 77% of the digital foreign money holdings on its steadiness sheet, in accordance with a June 30 quarterly submitting. It additionally held $19 million of bitcoin, or 23% of its complete holdings.
  • Nevertheless, the miner stated on Friday that it’s investing extra in bitcoin mining and ordered one other 6,500 Avalon bitcoin mining machines from producer Canaan.
  • This new order will push Hive’s bitcoin mining capability to 2 exahash per second by December and three EH/s by March 2022.
  • Hive has gained about 92% this yr, whereas ether has surged about 494% and bitcoin about 108%.

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