Share this article
Hive Blockchain Outperforms Crypto Miners as Ether Reaches All-Time High
Shares of the diversified crypto miner outperformed peers as ether hit a new record.
By Aoyon Ashraf
Updated May 11, 2023, 5:46 p.m. Published Oct 29, 2021, 2:53 p.m.
Make us preferred on Google
Hive Blockchain, which is among the largest publicly traded crypto miners of ether, outperformed its peers after the price of the native token of Ethereum, climbed to a record.
- Hive (NASDAQ: HIVE) shares rose almost 3% at 10 a.m. in New York, while its peers, which predominantly mine bitcoin, were mostly flat to negative on Friday.
- Among the publicly traded companies, the Canadian miner is most exposed to ether mining and also mines ethereum classic and bitcoin.
- Hive had about $63 million of ether, which is 77% of the digital currency holdings on its balance sheet, according to a June 30 quarterly filing. It also held $19 million of bitcoin, or 23% of its total holdings.
- However, the miner said on Friday that it’s investing more in bitcoin mining and ordered another 6,500 Avalon bitcoin mining machines from manufacturer Canaan.
- This new order will push Hive’s bitcoin mining capacity to 2 exahash per second by December and 3 EH/s by March 2022.
- Hive has gained about 92% this year, while ether has surged about 494% and bitcoin about 108%.
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Optimism governance approves OP token buyback plan tied to superchain revenue
The proposal links the OP token more directly to the economic performance of the Superchain.
What to know:
- Optimism’s governance has approved a proposal that links the OP token more directly to the economic performance of the Superchain, marking a notable shift in how one of Ethereum’s largest layer 2 ecosystems approaches token value and revenue use.
- The proposal passed with 84.4% of votes in favor, according to Optimism’s onchain governance portal, after several days of discussion among delegates and tokenholders
Top Stories
