Crypto miner HIVE Blockchain (NASDAQ:HIVE) has announced a holding balance of 3,258 Bitcoin and 5,100 Ethereum at the end of August 2022.
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During the month, HIVE had a mining capacity of average hash rate of 2.07 exahash and produced 290.4 BTC and 3,010 ETH with an average hash rate of 6.19 terahash.
HIVE’s Executive Chairman, Frank Holmes stated, “In August we produced an average of 16.7 Bitcoin Equivalent per day, comprised of approximately 9.4 BTC per day and our Ethereum production of approximately 97 Ethereum per day. We are pleased to note that as of today, we are producing over 9BTC, even with last week’s Bitcoin difficulty increase of almost 10%.”
Further, HIVE sees its Bitcoin mining hash power jump by more than 50% to upwards of 3.5 Exahash by the first quarter of 2023.
Moreover, the company also appointed Mr. Gabriel Ibghy as its General Counsel. Mr. Ibghy joined the company as Director of Legal Affairs in 2021.
Is HIVE Stock a Buy?
Wall Street currently has a Moderate Buy consensus rating on the stock alongside an average price target of $7.
This indicates a substantial 56.77% potential upside in the stock.
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