Publicly traded crypto mining firm Hive Blockchain is expecting to produce 6,900 Ether (ETH) and 670 Bitcoin (BTC) for the fiscal quarter ending on Dec. 31, marking a respective drop and increase over that of the previous quarter.

In a Wednesday notice to shareholders, Hive said it had mined 6,280 Ether from Oct. 1 to Dec. 21 and was on rails to mine more than 65 ETH daily for the remainder of 2022. This projected full — six,900 ETH — would represent a decrease of more than 20% from the eight,688 ETH the company mined from July ane to Sept. 30. Nonetheless, Hive is expecting its Bitcoin product to increase by 2% quarterly, from roughly 656 BTC to 670 BTC.

"This increase [in Bitcoin] has been driven by the previously appear investments that accept been fabricated into new generation miners and the expansion of our Bitcoin mining facilities," reported Hive. "This drop in the product of Ether in the electric current quarter compared to the prior quarter will be offset partially past the average cost of Ether increasing by 45%, and the higher Bitcoin mined in this quarter additional by the increase in the price of Bitcoin in the quarter of over 35%."

The Canadian crypto mining firm attributed the slowing of ETH mining due to the boilerplate difficulty increasing by more than sixteen% in the electric current quarter, including a pinnacle on Dec. seven as more projects entered the ecosystem. Even so, Hive also said the "strong" ETH toll had helped the company support mining operations as the difficulty increased. Co-ordinate to information from Cointelegraph Markets Pro, the price of ETH rose more than than 50% since Sept. thirty to reach an all-time high of more than $four,800 in November.

"HIVE has a healthy money inventory of both Ether and Bitcoin and has a continuing strategy to build our inventory through calendar 2022," said the mining firm. "We are no longer selling coins but banking them through the New year's day."

Related: Green energy-focused Bitcoin miner Hive joins North American mining puddle

Known past many for its efforts to mine with a focus on green energy, Hive has facilities in Canada, Sweden and Iceland. In June, the firm announced it had received approval to listing shares on the Nasdaq stock substitution. At the time of publication, shares are trading for $two.87, having risen more than than 2% in the last 24 hours.