Select Page

Ethereum merge might have resulted in 40% loss for Hive Blockchain revenue

Ethereum merge might have resulted in 40% loss for Hive Blockchain revenue


Mining


Bitcoin (BTC) mining analyst Jaran Mellerud estimated that the Ethereum (ETH) merge might need led to a 40% drop in Hive Blockchain’s income.

Hive simply misplaced its ether mining money cow.

I estimate its revenues to have fallen by 40% attributable to “the merge”. pic.twitter.com/1vq0U6EUze

— Jaran Mellerud (@JMellerud) December 5, 2022

Mellerud highlighted that the mining agency’s ETH enterprise was extra worthwhile than its Bitcoin actions, that means the merge occasion may result in a 60% loss in its working money circulate.

Hive pivots to ETC and Bitcoin mining

The agency has began mining Ethereum Basic (ETC) to treatment the loss. However its major focus is to repurpose its Ethereum mining services for BTC mining and enhance capability from 2.8 EH/s to three.3 by February 2023.

With the miner now wanting to enter sustainable Bitcoin mining, Hashrate Index examined its funds to see if it could actually make this transfer.

Hive funds stay robust

In response to Hashrate Index, the corporate’s steadiness sheet seems to be comparatively secure, with solely $26 million in interest-bearing money owed. This implies the corporate doesn’t need to spend a lot on debt servicing and may protect money flows, which can assist its liquidity.

In total liquidity, the agency has one of many lowest debt-to-equity ratios amongst public miners and has a fast ratio of three for its steadiness sheet liquidity. Solely 4 different public miners within the prime 15 by enterprise worth have a extra liquid steadiness sheet.




Source link

Leave a reply

Your email address will not be published. Required fields are marked *

Translator


ArabicChinese (Simplified)DutchEnglishFrenchGermanItalianPortugueseRussianSpanish

Shop Men’s T-Shirt

Shop Hoodies

Shop Women’s T-shirt

Christmas T-shirt