HIVE Digital Technologies Ltd. Corrects HODL Value, Reveals Details on ATM Sales - Exclusive Insights by Top Investment Manager!
In a recent announcement, HIVE Digital Technologies Ltd. (HIVE) has corrected its HODL value for August 2024, revealing that the actual balance of Bitcoins held was 2,567 (not 2,533) with a value exceeding $151 million (not $164 million). This correction was necessary due to an understatement of the number of Bitcoins held and an overstatement of its value by approximately $13 million. Despite this correction, all other information in the initial news releases remains unchanged.
Furthermore, the company has provided additional details on the At-The-Market (ATM) sales conducted from July 1-19, 2024, under the August 2023 ATM Equity Program.
Executive Chairman Frank Holmes emphasized HIVE's commitment to maintaining low General and Administrative (G&A) costs, maximizing cash flow, and avoiding excessive share dilution. President and CEO Aydin Kilic highlighted ongoing fleet optimizations and projected an increase in hashrate to 13.5 EH/s following upgrades at their Paraguay facility. These efforts align with the company's strategy of enhancing mining performance, holding clean virgin Bitcoin on its balance sheet, and promoting environmental sustainability.
Regarding the At-the-Market Offering, the company entered into an equity distribution agreement in August 2023, allowing for the sale of up to $90 million of common shares. During the Terminal Period from July 1 to July 19, 2024, the company issued 1,368,297 common shares for gross proceeds of C$6.09 million ($4.46 million). These funds will be used for purchasing data center equipment, strategic investments, and general working capital.
In conclusion, HIVE Digital Technologies Ltd.'s correction of its HODL value and details on its ATM sales demonstrate the company's transparency and commitment to financial integrity. Investors can rest assured that the company is focused on sustainable growth and maximizing value for its shareholders. By staying informed about these developments, individuals can make more informed decisions about their investments and financial future.