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Hive Blockchain Hikes Bitcoin Mining Capacity in May

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Hive Blockchain

Publicly traded cryptocurrency miner Hive Blockchain Technologies has hiked its Bitcoin mining hash rate in May, as the company made installations and electrical upgrades during the month.

Source: Hive Blockchain Technologies

BTC is down 6.23%, while ETH is down 7.53%.

Hive Blockchain reported a Bitcoin mining capacity of 2.18 Exahash at the end of May, higher than the 2.15 Exahash recorded at the beginning of the month. It produced 273.4 Bitcoin in the month, bringing its balance to 3,186 Bitcoin as of June 5, 2022.

The firm also reported an Ethereum mining capacity of 6.25 Terahash at the end of May, unchanged from its capacity at the start of the month. It produced 2,694 ETH in the month to bring its total production to 2,694 ETH.

Executive Chairman President and Chief Operating Officer Aydin Kilic said the ETH produced in May equated on a daily basis was approximately equal to a monthly total of 185.8 BTC or Bitcoin equivalent.

Hive said it is on track to hit a 6.2 Exahash BTC equivalent hash rate in a year, based on contracted monthly deliveries, nearly double the 3.4 Exahash of BTC equivalent hash rate it currently has.

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