Another Hive contest has begun now in October, and this is bringing the minds of blockchain holders together. The last contest ended with joy, and the margin of gross profit was on the high side and was actualized with making traffic in the blockchain market from what it was to what it's going to be in a new innovation, and this has brought a difference.
The company was formerly known as Hive.Blockchain technologies have become hive digital technologies.The name change reflects a push into offering AI computing services.The new AI initiatives could deliver more reliable sales and earnings growth.
10 stocks we like better than Hive Digital TechnologiesYou’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn MoreHot off its recent name change, Hive Digital Technologies stock is now up 346.5% year to date.What happened?Hive Digital Technologies (HIVE) stock is making big gains in Thursday's trading. The company's share price was up 10.4% in the daily trading session as of 10:45 a.m. ET, according to data from S&P Global Market Intelligence.
Hive published a press release yesterday announcing that it was changing its name from Hive Blockchain Technologies to Hive Digital Technologies. The new name reflects a shift into offering artificial intelligence (AI) processing services, and investors seem to be excited about the new business direction.
Finally, the company notes that its Ethreum mining operations are very competitive on a global scale.
There are millions of hobby miners from the gaming and design worlds who use their GPU chips to
mine when they go to sleep. Currently, with ETH prices at approximately $1,000 USD, the company's
legacy fleet of ETH mining GPUs (such as the RX580, which is approximately 80% of our fleet) still
generate approximately $0.10 per KWHR of revenue, and the company’s new generation of Nvidia data
Center-grade GPUs generate approximately $0.20 per KWHR of revenue. With respect to power costs
In Sweden, where these cards are operated, the company recently hedged 24 MW of power.
at approximately $0.03 per KWHR. Therefore, by expressing revenues in $/KWHR (which are currently
in the ranges of $0.10 to $0.20 per KWHR), it is easy to compare to power costs (at approximately $0.03).
per KWHR), to have a good indication of profit margins.
The company’s Ethereum mining operations
are still profitable with a healthy margin. Hive Blockchain technology has come to open the minds of young and talented minds to create opportunities for global profitability and gross income for people and also to create innovation for like-minded minds.
The October contest will really bring about awareness, as September was great and massive. Hive Blockchain is the future and it has come to stay research has it that by 2026 hive will be on the green