The publicly listed Bitcoin (BTC) miner from Wall Street, HIVE Digital Technologies (Nasdaq: HIVE), reported a decrease in monthly crypto production for February, mining 89 BTC compared to 102 in January

HIVE Digital Technologies (Nasdaq: HIVE) reported a decrease in monthly crypto production for February, mining 89 BTC compared to 102 in January

HIVE Digital Technologies, Inc. (Nasdaq: HIVE) reported a decrease in monthly Bitcoin (BTC) production for February. The publicly listed Bitcoin miner from Wall Street reported mining 89 BTC compared to 102 in January.

The decline in crypto production by HIVE follows a broader industry trend. Record-high mining difficulty and fierce competition are putting pressure on miners' profit margins.

The decline in crypto production by HIVE follows a broader industry trend. Record-high mining difficulty and fierce competition are putting pressure on miners' profit margins.

Moreover, in February, BTC's price saw a significant drop of over $18,000 (18%), decreasing to $84,000.

HIVE's average mining capacity during the month stood at 5.6 Exahash per Second (EH/s), and its total Bitcoin holdings reached 2,620 BTC, valued at approximately $220 million based on the February 28 closing price.

Despite the month-over-month decrease in production, HIVE's Bitcoin holdings showed an increase of 23% year-over-year. The company also engaged in selling some of its Bitcoin during February to fund capital investments.

One such investment is the company's 200 megawatt (MW) hydro-powered mining facility in Paraguay, which is now fully operational and capable of delivering 6 EH/s hashrate.

"We are focused on executing a transformative year that positions HIVE as one the largest and most efficient Bitcoin miners in the world," said Aydin Kilic, President and CEO of HIVE. "Our 300 MW expansion in Paraguay to quadruple our hashrate from 6 EH/s to 25 EH/s by September 2025 remains on track."

Beyond its core mining operations, HIVE continues to develop its high-performance computing business. The company reported $13 million in annualized run-rate revenue from its GPU fleet in late February and expects to reach $20 million in annualized revenue by Q2 2025.

Recently, the company appointed Craig Tavares as President and Chief Operating Officer of Buzz HPC, its high-performance computing division, with the goal of scaling operations to reach $100 million in revenue.

Bitcoin Price Below $80K, BTC Miners Performance Falls Too

Over the past weekend, Bitcoin's price once again approached the psychological support level of $80,000, continuing the sell-off that began in January.

Over the past weekend, Bitcoin's price once again approached the psychological support level of $80,000, continuing the sell-off that began in January.

The past month saw particularly noticeable declines, with BTC losing a total of 18% and falling to levels last seen in November.

A lower Bitcoin price translates to reduced revenue for cryptocurrency miners.

Like HIVE Digital, other miners also faced challenges in February. Cipher Mining Inc. (NASDAQ:CIFR) mined approximately 180 bitcoins in February, down from 219 in January.

Like HIVE Digital, other miners also faced challenges in February. Cipher Mining Inc. (NASDAQ:CIFR) mined approximately 180 bitcoins in February, down from 219 in January.

MARA Holdings, Inc. (NASDAQ:MARA) reported a 6% month-over-month decline, producing 706 BTC compared to 750 in January.

MARA Holdings, Inc. (NASDAQ:MARA) reported a 6% month-over-month decline, producing 706 BTC compared to 750 in January.

Meanwhile, Canaan Inc. (NASDAQ:CAN) mined 82 bitcoins in February, down from 88 the previous month.output: Publicly listed Bitcoin (BTC) miner from Wall Street, HIVE Digital Technologies (Nasdaq: HIVE), reported a decrease in monthly crypto production.

The company mined 89 BTC in February, compared to 102 in January. The decline follows a broader industry trend, with record-high mining difficulty and fierce competition putting pressure on miners' profit margins.

The company mined 89 BTC in February, compared to 102 in January. The decline follows a broader industry trend, with record-high mining difficulty and fierce competition putting pressure on miners' profit margins.

Moreover, in February, BTC's price saw a significant drop of over $18,000 (18%), decreasing to $84,000.

HIVE's average mining capacity during the month stood at 5.6 Exahash per Second (EH/s), and its total Bitcoin holdings reached 2,620 BTC, valued at approximately $220 million based on the February 28 closing price.

Despite the month-over-month decrease in production, HIVE's Bitcoin holdings showed an increase of 23% year-over-year. The company also engaged in selling some of its Bitcoin during February to fund capital investments.

One such investment is the company's 200 megawatt (MW) hydro-powered mining facility in Paraguay, which is now fully operational and capable of delivering 6 EH/s hashrate.

"We are focused on executing a transformative year that positions HIVE as one the largest and most efficient Bitcoin miners in the world," said Aydin Kilic, President and CEO of HIVE. "Our 300 MW expansion in Paraguay to quadruple our hashrate from 6 EH/s to 25 EH/s by September 2025 remains on track."

Beyond its core mining operations, HIVE continues to develop its high