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It is with no small amount of delight that we find Hive Digital, that fine provider of data center infrastructure, firmly entrenched in its long-term Bitcoin strategy. Rather than cower in the face of recent market tremors, this bold company sees opportunity—an opportunity to expand its mining capacity and increase its acquisitions, even as other public miners hastily offload their mined treasures. Oh, how they do love to hold onto their Bitcoin, as if it were a beloved family heirloom, waiting for the price to soar in its own sweet time.
In a most revealing chat with CryptoMoon, the ever-composed Darcy Daubaras, Hive’s chief financial officer, conveyed with delightful candor that the company remains devoted to “retaining a significant portion of its mined Bitcoin to benefit from potential price appreciation.” A noble pursuit indeed, considering the volatility of the market. After all, a treasury of Bitcoin is not to be squandered lightly, even in the face of a sharp 30% drop in its value. Oh, how the mere thought of debt and equity dilution sends shudders down Daubaras’ spine. In her world, it is far better to “hodl” than to partake in such unsavory practices common amongst the mining industry.
Indeed, CryptoMoon’s report reveals the grim reality: many public miners, in a desperate attempt to shore up their finances, have resorted to diluting their equity—issuing new shares, as if it were a cure for all ills. Of course, the alternative is even less palatable: selling off their precious Bitcoin to fuel expansion or operations. But Hive, with its steadfast resolve, continues to resist this temptation. “We may sell a little,” says Daubaras, “but only to fund investments that will see our growth flourish. A delicate balance, you see.”
And lo and behold, in the final quarter of 2024, Hive added yet more Bitcoin to its ever-growing balance sheet, increasing its “hodl” position to a most respectable 2,805 BTC. A fine number indeed, though no doubt it will grow further as time wears on.
Importance of Diversification, Scalability
Ah, the joys of a bull market—how it makes stacking Bitcoin so much easier! But, as every wise investor knows, the true test lies not in the good times, but in how one navigates the stormy seas of volatility, fierce competition, and the ever-rising costs of electricity and hardware. Here, Hive’s cunning strategy shines once more. The company has turned its attention to the world of AI data centers, all while prioritizing the most virtuous of energy sources—renewable, of course. How delightful to see such forward-thinking!
In fact, as Hive’s executives confided in CryptoMoon last September, a portion of their Nvidia GPUs have been repurposed for AI tasks—tasks that can generate a handsome $2.00 per hour, far surpassing the meager $0.12 per hour that crypto mining provides. A truly wise decision, and one that other miners have swiftly followed. Core Scientific, Hut8, and Bit Digital—what a merry band of diversifiers they have become!
Why, even CoinShares, in an October report, noted that the rising trend of mining companies dabbling in AI was no accident. As profitability in Bitcoin mining continues to dwindle, it seems that many miners have come to realize that diversification is the key to survival. Oh, how quaint!
And so, the trend continues. In January, a report from Digital Mining Solutions and BitcoinMiningStock.io made clear that diversification, particularly into high-performance computing and AI, provides a “predictable revenue stream”—a soothing balm for the volatility that plagues the mining world. Surely, this is the way forward, and Hive appears to have mastered the art of walking this fine line.
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2025-03-19 19:51