HIVE Digital Technologies Ltd HIVE has seen a notable surge in its stock value. This followed the company’s announcement of an operational update for December.

Performance Overview: In December, Hive Digital revealed that it produced 282.8 Bitcoin, sustaining an average hashrate of 3.95 EH/s throughout the month. The company achieved an average daily production of 9.1 bitcoin, approximately 1% of the global network. Notably, Hive closed December with 4.08 EH/s of mining capacity.

Hive also reported that its New Brunswick facility is presently operational at 1.8 EH/s as it undergoes final maintenance. The company anticipates the facility to return to full operations this month.

Furthermore, Hive appointed Luke Rossy as chief operating officer and Mario Sergi as chief information officer.

In a statement, Aydin Kilic, president and CEO of Hive, expressed his confidence in the company’s leadership: “Our goal has been for HIVE to lead as the most efficient Bitcoin miner. Coming from a strong foundation of code implementations in novel applications in proof-of-work algorithms, additionally, Luke has represented HIVE globally at Bitcoin industry conferences, and has developed a mastery of Bitcoin mining systems and analytics.”

There is speculation that the surge in bitcoin’s price may also be contributing to the rise in Hive shares. Bitcoin has observed a 3.82% increase over a 24-hour period, reaching $44,073. Notably, Bitcoin has shown an outstanding growth of more than 155% over the past year.

Share Price Movement: Hive shares witnessed a surge of 6.98% to reach $4.60 at the time of this report, according to Benzinga Pro.

Photo: EivindPedersen from Pixabay.