HIVE Blockchain Technologies Ltd (HIVE)

[hobowilly]

May 2022 Production Figures

HIVE is pleased to announce its May 2022 production figures and mining capacity:

273.4 BTC Produced
2,694 ETH Produced*
2.15 Exahash of Bitcoin mining capacity at beginning of May
Increased to 2.18 Exahash of Bitcoin mining capacity at end of May
6.26 Terahash of Ethereum mining capacity at beginning of May
6.26 Terahash of Ethereum mining capacity at end of May

Frank Holmes, Executive Chairman of HIVE stated “We are pleased to report in May HIVE continued its strong momentum in expanding our hashrate, notably our Bitcoin mining hashrate grew by 8% this month, through installations and electrical upgrades. In May we produced an average of 8.8 BTC per day, and we are pleased to note that as of today, we are producing approximately 9.2 BTC a day even after the recent difficulty increase of 5.5%.”

The correlation between Bitcoin price trends and top 100 tech stocks is 93%. Further, the correlation between bitcoin miners and bitcoin prices is +90%. The trend has been harsh and down over the past year, especially year to date with rising inflation and rising interest rates fears. In fact, the negativity is very high as reported by our primary stock exchange that 25% of our total traded value is shorted[1]. Historically a large short position and a price reversal up from such an over sold level in Bitcoin prices are the ingredients for the HIVE stock outperforming digital assets such as Bitcoin and Ethereum.


Source: HIVE BLOCKCHAIN PROVIDES MAY 2022 PRODUCTION UPDATE