Hive Blockchain, a Canadian mining firm, has recently reported an 8% increase in its total Bitcoin mining hardware hashrate over the last month.
In May, Hive wallets received a total of 273.4 BTC and 2,694 ETH, while the hash rate of ETH mining devices remained constant at 6.26 Tx/s. The total hash rate of Bitcoin mining equipment was 2.18 EH/s.
Hive Chairman, Frank Holmes, expressed satisfaction with the progress, stating that the increase was due to new device installations and upgrades.
Holmes added that despite the recent mining difficulty increase, the firm still managed to average 9.2 BTC per day, up from 8.8 BTC in May.
Holmes also revealed that Hive plans to increase its total hashrate of mining equipment from 3.4 Eh/s to 6.2 Eh/s by the end of the year.
This will be achieved through the supply of new devices such as ASIC miners and farms utilizing video accelerators. Deliveries of miners based on Intel chips are also expected to begin this month.
The mining industry has been facing several challenges, with the US President, Joe Biden, declaring a state of emergency in the country due to a lack of power generating capacity, which could adversely affect the activities of local miners.