Blockchain
RETRANSMISSION: HIVE Blockchain Provides February 2023 Production Update
Vancouver, British Columbia–(Newsfile Corp. – March 3, 2023) – HIVE Blockchain Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: HBFA) (the “Company” or “HIVE”) is pleased to announce the production figures from the Company’s global Bitcoin operations for the month of February 2023, with 250 Bitcoin produced in February, and a current BTC HODL balance of approximately 2,340 Bitcoin mined utilizing computational power sourced from green energy. The Company notes it reached over 3 Exahash (EH) of Bitcoin mining capacity in February (all amounts in US dollars, unless otherwise indicated).
Summary Overview:
- HIVE produced 250 Bitcoin in the month of February, from ASIC and GPU mining operations, representing an average of 91 Bitcoin Per EH, with an average hashrate of 2.75 EH/s for the month of February 2023;
- HIVE reached its 3 EH/s target in late February by mining at full capacity of 3,080 PH/s in late February. HIVE ended the month with 2.81 EH/s of mining capacity;
- HIVE has installed over 4,200 BuzzMiners to date. HIVE has received over 5,600 Buzzminers in its data centers and continues to install them to increase overall hashrate;
- HIVE expects to receive an additional 645 BuzzMiners in the next 2 months, representing a total production quantity of 6,300 BuzzMiners powered by the Intel Blockscale ASIC for the initial production run. HIVE is the first company in the world to commercially deploy thousands of its own Bitcoin ASIC miners powered by the Intel Blockscale ASIC.
February 2023 Production Figures
Frank Holmes, Executive Chairman of HIVE, stated, “We are very happy to have produced 250 Bitcoin during the month. Our team has focused on profitability, with 25% gross mining margins in our recent fiscal quarter for the 3 months ending December 31, 2022. We seek to optimize our profit from gross mining margins, on a monthly basis, by optimizing the efficiency of our operating fleet, and strategically curtailing or grid balancing. As a result, our average cost of power globally was 3.4 cents per KWHR in our recent fiscal quarter. We view grid balancing as part of our core revenue and ESG strategy, and whenever possible, we seek to hedge energy prices.”
If you have not seen our latest quarterly results then we recommend you watch ‘Hive’s Q3 2023 Results Webcast: HIVE Announces Adjusted EBITDA of $1.5 Million’.
Aydin Kilic, President & CEO of HIVE, noted, “We have increased our overall hashrate by 16% month over month from January 2023 to February 2023. We are continuously looking to optimize our allocation of energy as a resource. This month we did not sell energy back to the grid, but rather increased our operating hashrate as this was the most profitable operating mode. Additionally, our remaining GPU fleet is now generating approximately $100/MWHR in revenue, which is greater than the $/MWHR compared to Bitcoin ASIC miners in the current Bitcoin mining economics, for example an S19j Pro is generating approximately $93/MWHR with 43.1T difficulty and Bitcoin at $23,000. I am very proud of our team, that has shown expertise in optimizing the use of our GPUs. Even more impressive is our GPU HPC pilot project has been generating approximately $1,800/MWHR of revenue. We are constantly optimizing the deployment of our technology resources as a company to optimize profit. These advancements and agility allow us to generate positive gross mining margin during a crypto mining bear market. With a strong balance sheet of over $56 million of Bitcoin, HIVE is well positioned in the market today.”
The Company’s total Bitcoin production in February 2023 was:
- 250 BTC produced;
- 8.9 BTC produced per day on average;
- 2.81 Exahash of BTC Hashrate as of February 28, comprised of 2.58 Exahash of ASIC BTC hashrate and 0.23 Exahash of GPU BTC equivalent hashrate;
- Monthly average of 2.75 Exahash, which is equal to 91 Bitcoin per Exahash, comprised of an average of 2.58 Exahash of ASIC mining capacity and average of 170 PH/s of Bitcoin GPU mining capacity during the month;
- This represents a 16% month over month increase in average hashrate (January was 2.38 EH/s average hashrate).
Bitcoin HODL Update
As of today’s press release, HIVE has approximately 2,365 Bitcoin, with a market value of over $56 million.
HIVE sold a total of 267.7 BTC for total net proceeds of $6.6 million in February 2023.
Bitcoin Global Network Mining Difficulty Is Volatile
Network difficulty factors are a significant variable in the Company’s gross profit margins. The Bitcoin network difficulty was 39.4T as at February 1, and increased to 43.1T as at February 28, reaching an all-time high. Accordingly, Bitcoin mining difficulty ended the month about 9% higher than the beginning of the month.
The Bitcoin Network Difficulty is a publicly available statistic, that reflects the total number of Bitcoin miners online and is important in analyzing a company’s gross profit margins, and number of Bitcoin produced. This data is available on many websites, here is one citation: https://www.blockchain.com/explorer/charts/difficulty.
As more people mine Bitcoin (difficulty increases), the daily Bitcoin block reward which presently is fixed at 900 Bitcoin per day, gets split amongst more miners; thus each miner receives a smaller portion of the block reward. Conversely, as Bitcoin prices fall, many miners may lose money, and power down, thus taking their hashrate off the network, causing Network Difficulty to decrease.
Those miners with the lowest costs of production; by virtue of having more efficient machines and/or lower energy costs, are able to continue their production during these volatile cycles. Not all miners will continuously mine during the month, as a result some miners will produce less Bitcoin than expected, relative to their advertised hashrate. For the foregoing reasons, HIVE will self-curtail part of its operations if the unhedged spot energy prices are uneconomical, thereby leaving part of its total gross hashrate unutilized.
All Bitcoin miners are striving to use the most efficient Bitcoin ASIC chips, and we are happy that we have been able to upgrade our global fleet during this crypto market downturn.
About HIVE Blockchain Technologies Ltd.
HIVE Blockchain Technologies Ltd. went public in 2017 as the first cryptocurrency mining company with a green energy and ESG strategy.
HIVE is a growth-oriented technology stock in the emergent blockchain industry. As a company whose shares trade on a major stock exchange, we are building a bridge between the digital currency and blockchain sector and traditional capital markets. HIVE owns state-of-the-art, green energy-powered data centre facilities in Canada, Sweden, and Iceland, where we endeavour to source green energy to mine digital assets such as Bitcoin on the cloud. Since the beginning of 2021, HIVE has held in secure storage the majority of its treasury of ETH and BTC derived from mining rewards. Our shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of Bitcoin. Because HIVE also owns hard assets such as data centers and advanced multi-use servers, we believe our shares offer investors an attractive way to gain exposure to the cryptocurrency space.
We encourage you to visit HIVE’s YouTube channel here to learn more about HIVE.
For more information and to register to HIVE’s mailing list, please visit www.HIVEblockchain.com. Follow @HIVEblockchain on Twitter and subscribe to HIVE’s YouTube channel.
On Behalf of HIVE Blockchain Technologies Ltd.
“Frank Holmes”
Executive Chairman
For further information please contact:
Frank Holmes
Tel: (604) 664-1078
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Information
Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes, but is not limited to, business goals and objectives of the Company; the results of operations for February 2023; the HODL strategy adopted by the Company; the acquisition, deployment and optimization of the mining fleet and equipment; the continued viability of its existing Bitcoin mining operations; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the volatility of the digital currency market; the Company’s ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company’s operations; the volatility of digital currency prices; continued effects of the COVID-19 pandemic may have a material adverse effect on the Company’s performance as supply chains are disrupted and prevent the Company from carrying out its expansion plans or operating its assets; and other related risks as more fully set out in the registration statement of Company and other documents disclosed under the Company’s filings at www.sec.gov/EDGAR and www.sedar.com.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s objectives, goals or future plans, the timing thereof and related matters. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
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Blocks & Headlines: Today in Blockchain – May 22, 2025

The blockchain universe never sleeps. From pioneering cross-border payment systems in Central America to city-wide crypto strategies in New York City, today’s headlines reveal an industry maturing at breakneck speed. In this edition of Blocks & Headlines, we explore five landmark developments:
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Guatemala’s Banco Industrial integrates blockchain for seamless cross-border remittances.
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NYC Mayor’s Office unveils a comprehensive crypto and blockchain roadmap.
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OSR Holdings, BCM Europe & Taekwondo Cooperative sign an MOU to launch the OSRH token.
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Bybit’s “Chicken Trader” livestream—crypto meets poultry in the world’s first poultry-powered trading showdown.
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FIFA taps Avalanche to build a dedicated blockchain for its NFT platform.
These stories underscore three key trends reshaping the ecosystem:
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Institutional Adoption & Regulation: From national banks to municipal governments, legacy institutions are embracing decentralized technologies.
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Tokenization & Community Engagement: Strategic partnerships are launching specialized tokens that bridge niche communities with global markets.
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Innovative Use Cases: Whether gaming, entertainment, or live-stream events, blockchain’s versatility spawns ever-more creative applications.
Join us as we unpack the implications, weigh the opportunities, and forecast where these trajectories might lead.
1. Guatemala’s Largest Bank Integrates Blockchain for Cross-Border Payments
What Happened
Guatemala’s Banco Industrial, the country’s biggest financial institution, announced the deployment of a private‐permissioned blockchain network to streamline remittances from the U.S. into Guatemala City and beyond. The solution reduces settlement times from days to minutes, cuts fees by up to 60 %, and offers real-time traceability for senders and receivers.
Source: Cointelegraph
Analysis & Commentary
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Financial Inclusion Boost: Remittances account for over 12 % of Guatemala’s GDP. By minimizing friction and cost, blockchain integration will extend financial services to remote communities reliant on diaspora funds.
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Risk & Compliance: Permissioned networks allow Banco Industrial to retain AML/KYC controls, mitigating concerns around illicit flows. This hybrid approach demonstrates that enterprise blockchain can balance decentralization with regulatory rigor.
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Regional Ripple Effects: Neighboring Central American banks are watching closely. Should Guatemala’s pilot succeed, we can expect a domino effect across El Salvador, Honduras, and Costa Rica—each seeking to capitalize on faster, cheaper cross-border rails.
Implications
Legacy banks worldwide should view this as a blueprint: private blockchains can coexist with existing compliance frameworks while delivering transformative user benefits. Early movers will capture remittance market share and cultivate fintech partnerships across the Latin American corridor.
2. NYC Mayor Unveils Ambitious Crypto & Blockchain Agenda
What Happened
New York City Mayor Eric Adams detailed his administration’s multi-pronged strategy to make NYC a global crypto hub. Key initiatives include:
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A regulatory sandbox for crypto startups to pilot DeFi, NFTs, and token-based fundraising under city supervision.
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Partnerships with CUNY and Columbia University for blockchain research and talent development.
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Deployment of a blockchain-based public record system for land titles and business registrations.
Source: GovTech
Analysis & Commentary
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Regulatory Harmony vs. Overreach: By offering a controlled sandbox rather than blanket deregulation, NYC signals a nuanced stance—encouraging innovation without sacrificing consumer protection.
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Talent Pipeline: Academic partnerships aim to remedy the talent shortage plaguing blockchain firms. Local graduates trained in distributed ledger technologies (DLT) will feed startups, financial institutions, and government agencies.
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Public Services on Chain: Land registries and business filings on blockchain promise greater transparency and fraud reduction. If scaled effectively, NYC could set a global standard for government-blockchain integration.
Implications
Other major cities—London, Singapore, Dubai—will feel pressure to match NYC’s playbook. Municipal leaders should prioritize sandbox frameworks and academia-industry liaisons to nurture homegrown crypto ecosystems.
3. OSR Holdings, BCM Europe & Taekwondo Cooperative Launch OSRH Token
What Happened
OSR Holdings, BCM Europe, and the Taekwondo Cooperative signed a strategic Memorandum of Understanding to co-develop the OSRH token, a blockchain-based digital asset aimed at supporting global Taekwondo practitioners. Features include:
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Membership Rewards: Tokens earned through event participation, coaching certifications, and tournament wins.
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Decentralized Governance: Athletes vote on sponsorship allocations and rule-change proposals via on-chain ballots.
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Marketplace Integration: A dedicated NFT marketplace for Taekwondo memorabilia, from digital belts to highlight reels.
Source: PR Newswire
Analysis & Commentary
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Niche Tokenization: OSRH token exemplifies the power of community-focused tokens. By aligning incentives with passion points—training, competition, governance—stakeholders gain ownership and engagement.
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Governance Innovation: Athlete-driven decision-making on sponsorship and funding disrupts top-down federation models. This could democratize sports governance across disciplines.
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Commercial Ecosystem: The NFT marketplace offers monetization channels for athletes and federations alike. Strategic royalties on secondary sales ensure sustainable funding.
Implications
Other sports federations and niche communities should explore token models that blend rewards, governance, and commerce. Successful launches will hinge on clear utility, user education, and regulatory compliance in key jurisdictions.
4. Bybit Presents “Chicken Trader”: The World’s First Poultry-Powered Trading Showdown
What Happened
Cryptocurrency exchange Bybit debuted “Chicken Trader,” a live-streamed event where two contestants trade crypto pairs—and manage live chickens—to earn “Egg Points.” Viewers can stake on their favorite trader, earning NFTs and token rewards based on performance.
Source: PR Newswire
Analysis & Commentary
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Gamification Meets DeFi: Chicken Trader’s fusion of live-stream engagement, staking mechanics, and NFTs exemplifies Web3’s playful ethos—turning trading into interactive entertainment.
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User Acquisition Strategy: Bybit gamified acquisition funnels, leveraging viral social content to onboard nontraditional crypto audiences intrigued by the novelty factor.
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Regulatory Tightrope: Combining staking with competition and livestock raises jurisdictional questions around gambling, securities, and animal welfare. Bybit must navigate diverse regulations to scale globally.
Implications
Other exchanges will replicate gamified formats to differentiate UX and grow communities. Yet long-term viability demands balancing flashy live-events with rigorous compliance, sustainable tokenomics, and authentic value for participants.
5. FIFA Taps Avalanche to Power Its NFT Platform
What Happened
Global soccer body FIFA selected the Avalanche blockchain to launch its official NFT marketplace, featuring digital collectibles—from World Cup highlights to player-card packs. Avalanche’s high throughput and low fees were cited as decisive factors.
Source: TradingView (via Cointelegraph)
Analysis & Commentary
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Scalability & Sustainability: Avalanche’s consensus mechanism delivers sub-second finality and carbon-offset commitments, aligning with FIFA’s environmental pledges.
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Fan Engagement: Tokenized highlights and limited-edition digital memorabilia expand revenue streams beyond broadcast rights, offering fans verifiable ownership and collectible provenance.
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Interoperability: Avalanche’s growing DeFi ecosystem enables future integrations—staking fan tokens, launching prediction-market games, or embedding NFT rewards in FIFA’s mobile apps.
Implications
Major sports leagues and entertainment brands eyeing NFT forays will scrutinize Avalanche’s performance under FIFA’s global load. Blockchain platforms must prove they can handle spikes during marquee events—kickoff times, finals, transfer windows—while preserving UX and sustainability goals.
Conclusion
Today’s Blocks & Headlines illustrate blockchain’s multifaceted evolution:
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Legacy institutions like banks and city governments are unlocking new efficiencies and transparency through private and public DLT networks.
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Community-driven tokens are redefining governance and monetization in sports and niche domains.
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Innovative engagement—from poultry-fueled trading spectacles to global soccer NFTs—demonstrates blockchain’s capacity for gamification, fan loyalty, and novel revenue models.
Yet with opportunity comes responsibility: scalable architectures must coexist with robust compliance; token economies require thoughtful design to sustain value; and regulators, academia, and industry must collaborate to craft frameworks that balance innovation with consumer protection.
As blockchain weaves deeper into finance, governance, entertainment, and sports, stakeholders who embrace strategic partnerships, prioritize user education, and invest in resilient infrastructures will lead the charge into Web3’s next frontier.
The post Blocks & Headlines: Today in Blockchain – May 22, 2025 appeared first on News, Events, Advertising Options.
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