Bitcoin's price fell to $80K last month, marking its steepest decline in nearly three years.
Despite this, mining difficulty continued to rise, leading to lower production for Hive Digital and other industry players.
Bitcoin price dopped in Q1 2025
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, as the company redirects resources
toward growth initiatives.
The decline
aligned with a broader industry trend, driven by record-high mining difficulty
and increasing competition, which is eroding miners' profit margins. The
situation is further complicated by the fact that in February, BTC's price
shrank by over $18,000 (18%), dropping to $84,000.
HIVE Reports Lower Bitcoin
Output
The Bitcoin mining
and high-performance computing firm maintained an average mining capacity of
5.6 Exahash per Second (EH/s) during February, with its total Bitcoin holdings
reaching 2,620 BTC, valued at approximately $220 million based on the February
28 closing price of $84,000.
Despite the
month-over-month decline in production, HIVE's Bitcoin holdings have increased
23% year-over-year. The company strategically sold some of its Bitcoin during
February to fund capital investments, including the acquisition of Bitfarms'
200 megawatt (MW) hydro-powered mining facility in Paraguay.
Aydin Kilic, President & CEO of HIVE
“We
are focused on executing a transformative year that positions HIVE as one of 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.
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. 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, who,
like HIVE Digital, faced challenges in February. Cipher Mining Inc. (NASDAQ:
CIFR) mined approximately 180 Bitcoin 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. Meanwhile, Canaan Inc. (NASDAQ: CAN) mined
82 Bitcoin in February, down from 88 the previous month.
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, as the company redirects resources
toward growth initiatives.
The decline
aligned with a broader industry trend, driven by record-high mining difficulty
and increasing competition, which is eroding miners' profit margins. The
situation is further complicated by the fact that in February, BTC's price
shrank by over $18,000 (18%), dropping to $84,000.
HIVE Reports Lower Bitcoin
Output
The Bitcoin mining
and high-performance computing firm maintained an average mining capacity of
5.6 Exahash per Second (EH/s) during February, with its total Bitcoin holdings
reaching 2,620 BTC, valued at approximately $220 million based on the February
28 closing price of $84,000.
Despite the
month-over-month decline in production, HIVE's Bitcoin holdings have increased
23% year-over-year. The company strategically sold some of its Bitcoin during
February to fund capital investments, including the acquisition of Bitfarms'
200 megawatt (MW) hydro-powered mining facility in Paraguay.
Aydin Kilic, President & CEO of HIVE
“We
are focused on executing a transformative year that positions HIVE as one of 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.
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. 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, who,
like HIVE Digital, faced challenges in February. Cipher Mining Inc. (NASDAQ:
CIFR) mined approximately 180 Bitcoin 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. Meanwhile, Canaan Inc. (NASDAQ: CAN) mined
82 Bitcoin in February, down from 88 the previous month.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
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You’ll learn about available instruments across forex, commodities, indices, share CFDs, and crypto CFDs, along with leverage options, minimum and maximum trade sizes, and how Blueberry structures its Standard and Raw accounts.
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Watch the full review to see whether Blueberry’s trading setup aligns with your experience level, strategy, and risk tolerance.
📣 Stay up to date with the latest in finance and trading. Follow Finance Magnates for industry news, insights, and global event coverage.
Connect with us:
🔗 LinkedIn: /financemagnates
👍 Facebook: /financemagnates
📸 Instagram: https://www.instagram.com/financemagnates
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⚖ Balanced reporting
📞 Right of response
📰 Responsible journalism
#FinanceMagnates #FinancialJournalism #ResponsibleReporting #FinanceNews #EditorialStandards
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⚖ Balanced reporting
📞 Right of response
📰 Responsible journalism
#FinanceMagnates #FinancialJournalism #ResponsibleReporting #FinanceNews #EditorialStandards
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📰 Verified reporting
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✅ Facts over noise
