Blockchain
HIVE Blockchain Provides May 2023 Production Update and the Growth Opportunities of Ordinals and Unique Satoshis
This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated May 10, 2023 to its short form base shelf prospectus dated May 1, 2023.
Vancouver, British Columbia–(Newsfile Corp. – June 9, 2023) – HIVE Blockchain Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: HBFA) (the “Company” or “HIVE”) is pleased to announce the unaudited production figures from the Company’s global Bitcoin operations for the month of May 2023, with 304.6 Bitcoin produced in May, and a current BTC HODL balance of approximately 1,950 (as at June 1st). Additionally, the Company announces it has a treasury of 250 valuable Uncommon Satoshis mined from block rewards in our wallets. (all amounts in US dollars, unless otherwise indicated).
Summary Overview:
- HIVE produced 304.6 Bitcoin in the month of May, from ASIC and GPU mining operations, representing an average of 92.4 Bitcoin Per Exahash, with an average hashrate of 3.30 EH/s for the month of May 2023;
- HIVE produced an average of 9.8 BTC per day in May 2023;
- HIVE ended the month with 3.32 EH/s of mining capacity, including ASIC and GPU BTC hashrate.
May 2023 Production Figures
Aydin Kilic, President & CEO of HIVE, noted, “We are starting to receive shipments of our 1.26 EH/s of ASICs which was previously announced, and are installing them in our data centers upon delivery. We expect to provide updates on our growing hashrate capacity as we work towards our interim goal of 4 EH/s, and moreover, we are actively evaluating opportunities in the market for our year end goal of 6 EH/s.”
The Company’s total Bitcoin production in May 2023 was:
- 291.4 BTC produced from ASICs from an average hashrate of 3.15 EH/s from ASICs in May;
- 9.4 BTC produced per day on average from ASICs, and 92.5 BTC/EH from ASICs in May;
- 3.32 EH/s of BTC month end Hashrate as of May 31, comprised of 3.17 EH/s of ASIC BTC hashrate and 0.15 EH/s of GPU BTC Hashrate;
- Monthly average of 3.30 EH/s, comprised of an average of 3.15 EH/s of ASIC mining capacity and average of 145 PH/s of Bitcoin GPU mining capacity during the month of May;
- This represents a 1% month over month end increase in BTC ASIC hashrate (April 30 month end was 3.14 EH/s hashrate), and a 2% month over month average decrease in BTC hashrate from ASICs and GPUs combined (April average BTC hashrate was 3.38 EH/s), due to the GPUs mining algorithm having a higher profit per megawatt hour in April.
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 48.7 trillion (“T”) as at May 1, and increased to 51.0T as at May 31, reaching a new all-time high. Accordingly, Bitcoin mining difficulty ended the month about 4.7% higher than the beginning of the month.
The Bitcoin Network Difficulty is a publicly available statistic, which 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, mining may be less profitable (or not profitable at all) for may miners, causing them to take their hashrate off the network, and consequently causing the Network Difficulty to decrease.
Miners with the lower costs of production, are generally able to continue their production during these volatile cycles. Not all miners will continuously mine during a given period, and 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.
We are happy that we have been able to upgrade our global fleet during this crypto market downturn.
Satoshis and Ordinal Technology
With the advent of Ordinal technology, a protocol that allows individual Satoshis on the Bitcoin blockchain to be assigned a unique identifier, now each Satoshi (the smallest denomination of a Bitcoin possible, being 1/100,000,000 of one Bitcoin) can be identified and tracked. HIVE has mined thousands of Bitcoin as a green energy focused issuer with Bitcoin mining operations.
Every Bitcoin has 100 million Satoshis which now means many new potential opportunities. Frank Holmes says, “I have always believed that green and clean Bitcoins would over time become more valuable as a digital asset because the supply is capped at 21 million Bitcoins. Like Andy Warhol art, when supply is capped, and adoption expands over time the value of his prints have gone up substantially. Now with the explosion in Ordinals we are experiencing new growth with special numbered Satoshis.”
Aydin Kilic, CEO and President of HIVE, commented, “As a technology company, and a pioneer in the Bitcoin mining space, HIVE is a company of firsts. We therefore ardently pursue innovation where we see advances in our sector. Luxor Technology Corporation (“Luxor”) has been a great contributor to the Bitcoin ecosystem, through software and firmware developments, and leading research insights, to name a few things. We were therefore extremely pleased to learn in collaboration with Luxor, that HIVE possesses 250 Uncommon Satoshis in our wallets. There will only ever be approximately 6.93 million Uncommon Satoshis in existence, out of the 2.1 quadrillion total possible Satoshis that will ever exist.”
Nick Hansen, CEO and Founder of Luxor, stated, “At Luxor, we’re excited about the proliferation of Ordinal theory on Bitcoin, which allows information to be inscribed and preserved forever in the Bitcoin blockchain. Working with a technology leader like HIVE to extract and sell their unique Satoshis for a substantial premium has been a pleasure.”
HIVE has not specified the price which it will be selling its Satoshis, however it will be at a premium.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/169391
Blockchain
Blocks & Headlines: Today in Blockchain – April 25, 2025 | BitNile, Dutch Blockchain Week, Citigroup, Philippine Blockchain Week, D.O.G.E Foundation
Blockchain’s metamorphosis from niche ledger technology to the backbone of Web3 has never been more evident. Today, we cover five stories that illustrate the evolving ecosystem: a gaming platform issuing its own token on Solana; Europe’s marquee Web3 summit; a major bank forecasting a “ChatGPT moment” for blockchain; a Southeast Asian conference aimed at busting crypto myths; and a foundation rebuilding blockchain from the ground up to solve scalability. Each development—whether product launch, industry gathering, macro forecast, educational initiative, or infrastructure innovation—offers a window into the trends shaping decentralized finance, NFTs, DeFi, and beyond.
1. BitNile.com to Launch Nile Coin on Solana
News Summary
Hyperscale Data’s subsidiary BitNile.com will introduce the Nile Coin on Solana starting May 1, 2025. The U.S.–based social gaming site chose Solana for its high throughput and low fees, aiming to enhance in-game economies, reward engagement, and deliver seamless micro-transactions. Details on tokenomics and governance are forthcoming, but management touts Nile Coin as a cornerstone of future gaming experiences.
Source: CoinTrus
Analysis & Commentary
Launching a proprietary token underscores two converging trends: the gamification of finance and finance-ification of gaming. By minting Nile Coin, BitNile.com taps into DeFi mechanics—staking, liquidity pools, NFT rewards—while leveraging Solana’s scalability. Strategically, BitNile.com positions itself for partnerships with NFT marketplaces and DeFi protocols, potentially opening secondary markets for in-game assets and generating new revenue streams beyond ad sales or subscription fees.
2. Dutch Blockchain Week 2025 Gears Up in Amsterdam
News Summary
From May 19–25, Amsterdam will host the sixth annual Dutch Blockchain Week, culminating in the two-day summit (May 21–22) at De Meervaart. Tier 1 exchanges (Bitvavo, Kraken, Coinbase), Web3 pioneers (WOW.ai, Blockrise), regulators (European Commission, De Nederlandsche Bank), and industry partners (Mastercard, Deloitte) will convene. Side events range from AI-powered hackathons tackling compliance to padel networking meetups—underscoring the event’s blend of technology, policy, and community.
Source: Dutch Blockchain Week
Analysis & Commentary
Dutch Blockchain Week typifies the maturation of blockchain conferences into multidisciplinary forums. Beyond token talk and yield farming, panels on regulation, institutional adoption, and security reflect Web3’s integration into mainstream finance. Anticipate announcements on CBDC pilots, DeFi compliance frameworks, and cross-chain interoperability projects that may emerge from the Block & Order Hackathon.
3. Citigroup Predicts Blockchain’s “ChatGPT Moment”
News Summary
In an April 23 report, Citigroup analysts argue that 2025 could be blockchain’s “ChatGPT moment,” driven by regulatory clarity around stablecoins and integration with traditional financial systems. They forecast stablecoin market capitalization ballooning to $1.6 trillion (base case) or as much as $3.7 trillion (bull case) by 2030—anchored by dollar-denominated issuers and collateralized with U.S. Treasuries. Regulatory frameworks like the GENIUS Act could catalyze adoption among banks and fintechs.
Source: Cointelegraph
Analysis & Commentary
Drawing parallels to generative AI’s explosive growth, Citigroup envisions a tipping point where blockchain moves from experimental to essential infrastructure. Successful integration will hinge on robust compliance tools, auditability, and clear governance models. Enterprise blockchain vendors should prepare for surging demand in tokenized payments, on-chain settlements, and embedded DeFi rails within legacy systems.
4. Philippine Blockchain Week 2025 Debunks Crypto Myths
News Summary
Scheduled for June 10–11 at SMX Convention Center Manila, Philippine Blockchain Week (PBW) 2025 will tackle misinformation and spotlight real-world use cases. Highlights include “Crypto, Unpacked” sessions demystifying the technology; “Smart Regulation” panels uniting policymakers and innovators; and “Blockchain for Impact” showcases on remittances, disaster relief, and digital identity. Founding President Donald Lim emphasizes government support and public–private collaboration to spur inclusive growth.
Source: UseTheBitcoin
Analysis & Commentary
PBW exemplifies how emerging markets leverage education to accelerate Web3 adoption responsibly. By engaging regulators early, PBW can shape balanced frameworks that encourage innovation while protecting consumers—an instructive model for markets wrestling with both hype and skepticism.
5. D.O.G.E Foundation Launches New Blockchain, Opens Seed Round
News Summary
The D.O.G.E Foundation announced a ground-up blockchain rebuild designed to solve the scalability and reliability challenges plaguing existing networks. This modular architecture separates validation from execution to enable parallel transaction processing—targeting real-time gaming, DeFi under high load, and AI-driven applications. A seed funding round is now open to investors who share the vision of a performant, decentralized infrastructure.
Source: D.O.G.E Altcoin GlobeNewswire
Analysis & Commentary
As layer-1 congestion and high gas fees persist, new entrants must justify a “why now” with clear architectural advantages. If the D.O.G.E blockchain delivers real-world throughput and maintains decentralization, it could spur a renaissance of high-performance DeFi protocols and NFT platforms hungry for cost-effective base layers.
Conclusion & Key Takeaways
-
Tokenization of Entertainment: BitNile’s Nile Coin on Solana highlights blockchain’s expansion into gaming economies and NFT reward systems.
-
Convergence of Tech, Policy & Community: Dutch Blockchain Week showcases Web3’s evolution into an ecosystem engaging regulators, enterprises, and developers under one roof.
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Mainstream Inflection Point: Citigroup’s “ChatGPT moment” thesis suggests blockchain is poised for exponential adoption given regulatory support.
-
Education as Catalyst: Philippine Blockchain Week’s myth-busting curriculum underscores the importance of public–private dialogue in emerging markets.
-
Infrastructure Innovation: The D.O.G.E Foundation’s modular, high-throughput chain exemplifies the next wave of layer-1 networks addressing real-time, real-world use cases.
Today’s stories convey that blockchain’s next chapter will be written through strategic token launches, global convenings, regulatory clarity, educational outreach, and radical infrastructure redesign. By tracking these threads, industry participants can anticipate opportunities in DeFi, NFTs, Web3 games, and enterprise integration. Stay tuned for tomorrow’s Blocks & Headlines, where we’ll continue to decode the innovations shaping decentralized finance.
The post Blocks & Headlines: Today in Blockchain – April 25, 2025 | BitNile, Dutch Blockchain Week, Citigroup, Philippine Blockchain Week, D.O.G.E Foundation appeared first on News, Events, Advertising Options.
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