Hive Digital shares jumped after the announcement of the company for 23% year-on-year increase in bitcoin reserves.
Canadian Crypto Mining Company Hive Digital released its February production results, revealing that its bitcoin (BTC) holdings have increased by more than 20% year-to-year. On 9 March Press releaseThe Vancouver-facilitated company said it had mined 89 BTCs, extending its HODL portfolio to 2,620 BTC, priced at around $ 220 million.
While the company’s bitcoin holdings increased by 23%, the crypto holdings of more than the month saw a decline, although Hive Digital did not reveal the amount of bitcoins sold during the month.
,[…] Depending on the month of one month, BTC Holdings saw a decline as the hive strategically sold a portion of his BTC to invest in capital assets, consisting of bitforms’ 200 megawatt hydro-purified bitcoin mining assets in Paraguay. ,
High digital
After this news, Hive Digital Shares rose from 4.76% to $ 2 after hours per data from NASDAQ. Jump also came in the form of rouses Well Adjust Its approach to Hive Digital is estimated from a low of $ 4.80 to a high level of $ 7.13. The average value represents an increase of about 200%according to the target firm.
Hive Digital Chief Executive Officer Idin Kilik says that the company is focusing on executing a “transformational year”, which will put the company in position as “one of the largest and most efficient bitcoin mine in the world”, which releases the expansion of 300 MW of that hive from 6 EH/S to 25 EH/S September in 4X. “Hive says this Q1 expects to finalize the strategic acquisition of the 200 mw yguazú site of Bitfarms in 2025.
