Coinbase Global, Inc. /zigman2/quotes/225893452/composite COIN +1.21% released in February a shareholder letter reporting the company's Q4 and full-year 2021 financial results. The company said it ended 2021 with a strong performance in key metrics that were within its outlook. Millions of new users joined the cryptoeconomy in 2021 through Coinbase, which generated $7.4 billion in net revenue, including $2.5 billion in the fourth quarter. Coinbase, which became the first publicly traded crypto asset trading platform, has made substantial progress in building world-class infrastructure to enable easy, safe and secure access and access to the global crypto economy.
On March 8, HIVE Blockchain Technologies /zigman2/quotes/208543683/composite HIVE +3.05% /zigman2/quotes/202324457/delayed CA:HIVE +2.02% announced production figures for the company’s global Bitcoin and Ethereum mining operations for the month of February 2022. BTC HODL balance was 2,374 Bitcoin as of February 28, 2022.
HIVE produced an average of 8.7 BTC per day in February. The ETH that HIVE produced during that month, matched daily, is approximately equal to a monthly total of 132.6 BTC, which the company refers to as Bitcoin equivalent or BTC equivalent. Bitcoin mining operations produced 244.4 BTC in February, for a total of 377.1 Bitcoin equivalent. On March 7, the company announced a supply agreement with Intel Corporation to purchase new high-performance ASIC chips that will be integrated into state-of-the-art mining equipment that will be custom-built for HIVE. The company also signed a letter of intent with Compute North LLC to host 100 megawatts of mining capacity at one of their new renewable energy data centers in Texas.
As crypto mining efforts continue to ramp up to meet the market demand, WonderFi is creating better access to digital assets through compliant centralized and decentralized platforms.
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