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$HIVE, a crypto mining company, mined 119 BTC with an average of 24.5 BTC per Exahash. They ended May with a 5.0 EH/s ASIC mining capacity and increased their HODL position to 2,451 BTC, a 3% increase from the prior month. The company uses green energy and Nvidia Ai GPU chips for its operations. $HIVE was the first crypto mining company to go public in 2017 and has over 2400 Bitcoin HODL on its balance sheet.
According to my #Bitcoin miner model $HIVE $CORZ $BTBT $BTDR are the miners still relatively "undervalued" based on financial metrics I track: 1) MC / Current Hash Rate 2) MC / Future 2024 Hash Rate 3) PS Ratio 4) PB Ratio 5) Low SGA as % of Rev 6) [Cash + BTC HODL - LT debt] /… https://t.co/PWEjAMPzhL
NEW: Miners have been struggling with capitulation for more than a month now. Halving hurt profits, but hashrate fell 12% from its May peak, not as bad as the 25% expected. Runes fees and strategic reserves helped, per James Van Straten. https://t.co/hwYboOAVYF
INSIGHTS 📉 Miners continue to offload #Bitcoin amid 33-day capitulation via @jvs_btc data via @glassnode https://t.co/cRvuufwoDU