Bitcoin (BTC) Mining Firm HIVE Digital Boosts Reserves to 2,503 BTC, Unaffected by Miner Capitulation

HIVE Digital Applied sciences, the Vancouver-based Bitcoin mining firm, appears unaffected by the current miner capitulation that brought about Bitcoin (BTC) to plunge beneath the $56,000 mark.

Bitcoin mining firm HIVE Digital has launched its June monetary report, revealing a rise in its crypto reserves.

In keeping with a Jul. 8 press launch, HIVE Digital’s crypto holdings on the steadiness sheet elevated to 2,503 BTC as of Jul. 7. This represents a greater than 2% improve in comparison with the earlier month.

The Vancouver-based mining agency managed to mine 119 BTC in June, preserving the identical degree of efficiency as in Could.

Regardless of current market turbulence that noticed Bitcoin plunge beneath the $56,000 mark, HIVE Digital appears to be like unperturbed.

CEO Aydin Kilic famous the corporate’s operational enlargement, including that the remaining batch of Bitmain S21 orders “are able to ship, and in reality have been upgraded to S21 Professional, representing roughly 1,150 S21 Professional miners from HIVE’s unique order in December.”

“The latest acquisition of 1,000 S21 Professional Miners, introduced in Could, can also be now able to ship. The entire fleet of recent rigs is anticipated to be put in by the top of July.”

Aydin Kilic

Following the discharge of the optimistic report, HIVE Digital’s shares (HIVE) noticed a surge of over 9.5% on Nasdaq, reaching $3.34, in keeping with information from Google Finance.

HIVE Digital’s reserve boosting comes regardless of its friends displaying large capitulation.

As famous by QCP analysts in a analysis report, Bitcoin miners are displaying “signs of capitulation” because the cryptocurrency’s worth slid beneath $56,000 late Jul. 5.

On this backdrop, the hashprice mark approached “its all-time low,” final seen through the bear market.

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