Bitcoin: The Canadian mining firm announced its last quarter data. Accordingly, there are visible differences in production. The Canadian mining firm expects Ethereum production to decrease by more than 20% quarter-on-quarter, while it expects Bitcoin mining to increase by 2%.
Hive Blockchain Data
Public crypto mining company Hive Blockchain expects to generate 6,900 Ethereum (ETH) and 670 Bitcoin (BTC) for the fiscal quarter ending December 31. In a statement to shareholders on Wednesday, Hive said it had mined 6,280 Ethereums between October 1 and December 21, and is on track to mine more than 65 ETH per day for the remainder of 2021.
This estimate marks a drop of more than 20% from the 8,688 ETH the company issued from July 1 to September 30. However, Hive expects Bitcoin production to increase by 2% quarterly, from about 656 BTC to 670 BTC.
Hive wrote in the report:
“This increase in Bitcoin was driven by the previously announced investment in next-generation devices and the expansion of our Bitcoin mining facilities. This decrease in Ether production in the current quarter compared to the previous quarter will be partially offset by the 45% increase in the average price of ETH, and the Bitcoin mined this quarter will be supported by the increase in the price of Bitcoin.”
The Canadian crypto mining firm attributed the slowdown in ETH mining as the average difficulty rose more than 16% in the current quarter, including a peak on December 7 as more projects entered the ecosystem. He also said he helped support them. ETH price has risen more than 50% since September 30, surpassing its all-time high of $4,800 in November.
We Don’t Sell Cryptocurrency
Mining firm HIVE has announced that it has not been selling for a while in order to create a healthy inventory for both Ethereum and Bitcoin. Known by many for its mining efforts with a focus on green energy, Hive has facilities in Canada, Sweden and Iceland. In June, the firm announced that it had received approval to list shares on the Nasdaq stock exchange. At the time of writing, shares are up more than 2% in the last 24 hours to trade at $2.87.
Bitcoin hash rate finally hits its new peak these days after the Chinese bans. With the prohibitions, the production, which bottomed out at 57 EH/s, has now climbed to 193 EH/s. In the image above you see the current strength of the largest pools.