Ethereum's transition to PoS significantly hurt Hive, but it still managed to increase its mining production by 13% year-over-year.
Ethereum’s transition to PoS significantly hurt Hive, but it still managed to increase its mining production by 13% year-over-year.
This was also reflected in the Canadian cryptocurrency miner Hive Blockchain’s revenue, which halved to $14.3 million in Q3 as compared $29.6 million total it made in the previous three-month period., Hive said hedging its energy contracts, selling power back to the grid, and optimizing its operating capacity to focus on maximum profit per KWHR helped it realize a profit from mining operations in the third quarter of 2022.
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