$HIVE @HIVEDigitalTech's 10-K shows how it used
#bitcoin itself to fund a major hashrate surge.
Key points:
• 2,139
#BTC used as equipment deposits
• Helped add 18 EH/s across 300 MW in Paraguay
• Installed hashrate reached 25.5 EH/s
• 799 BTC repurchased, generating a $12.8M gain
• 1,452 BTC repurchase options expired unexercised as the strike price was above spot
That effectively left Bitmain accepting the downside of the BTC-linked structure, while HIVE kept the machines that powered its Paraguay buildout.
With quarterly production running above 800 BTC,
$HIVE could theoretically mine back the bitcoin in a few quarters, assuming network hashrate stays steady.