One of the industry's largest crypto mining companies, HIVE Blockchain, announced today that it hit record crypto mining production figures throughout August.
The crypto miner claims to have unlocked an average crypto haul of approximately 9.4 Bitcoin (~$187,500) and 97 Ethereum (~$161,000) per day. At today’s prices, HIVE claims to be generating almost $350,000 in crypto every day.
HIVE says it produced a grand total of 3,010 ETH in August, worth nearly $5 million. This accounts for the lion’s share of the firm’s 5,100 Ethereum holdings.
The company is also expected to diversify its mining portfolio ahead of Ethereum’s long-anticipated network overhaul, dubbed “the merge.”
The upgrade will transition the blockchain from using a proof-of-work (PoW) consensus mechanism, in which miners with the most computing power mine the most crypto, to a 99.95% greener proof-of-stake (PoS) algorithm, where those who stake the most Ethereum validate the most transactions.
However, after the merge,...
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