HIVE Digital Mines 289 BTC, Hashrate Hits 24 EH/s
Bitcoin mining firm HIVE Digital reported mining 289 BTC in October, an 8% monthly increase and a 147% year-on-year surge. The company’s global hashrate now exceeds 24 EH/s, powered by 300 MW of Canadian data centers.
HIVE Digital’s strategic investments in power and infrastructure have boosted energy efficiency and scaled its operations. Higher hashrate enhances network security and market confidence. Traders may view this production rise as a bullish signal for Bitcoin supply and price momentum. The company continues to expand capacity to capitalize on market opportunities.
Bullish
HIVE Digital’s 8% monthly and 147% annual rise in Bitcoin mining output, along with surpassing 24 EH/s, signals stronger network security and growing operational scale. The ramp-up in hashrate, driven by strategic infrastructure investments and energy efficiency gains, may boost market confidence. While higher production can increase supply, the scale and efficiency improvements reflect positive miner sentiment. This combination of factors is likely to support short-term price momentum and underpin longer-term bullish trends in Bitcoin.