Hive Digital Goes on Bitcoin Mining Rig Buying Spree, Adds 29K Units Since FTX Collapse
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Hive Digital purchased $13.7 million worth of new Bitmain S19J mining rigs in December 2022, totaling 3,750 rigs.
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Since the FTX collapse in November 2022, Hive has acquired 29,000 new ASIC mining rigs to take advantage of low prices.
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The new rigs have boosted Hive's fleet efficiency to 28.9 J/TH with an expected 4.8 EH/s capacity by end of 2023.
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In November 2023, Hive's rigs produced 276.3 bitcoins, averaging 9.2 BTC per day.
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Thanks to the 160%+ surge in Bitcoin prices since January 2023, the new rigs have already paid for themselves.