HIVE Blockchain Expands Bitcoin Mining Capability by 36% With Buy of 6,000 Subsequent Technology Miners to Improve Future Operations to 1,673 PH/s



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VANCOUVER, BC / ACCESSWIRE / February 23, 2021 / HIVE Blockchain Applied sciences Ltd. (TSX.V:HIVE) (OTCQX:HVBTF) (FSE:-HBF) (the “Firm” or “HIVE”) is worked up to announce that it has made a big step in direction of its up to date 2021 ASIC capability objective of two,000 Petahash per second (PH/s) with the acquisition of 6,000 subsequent era miners with an combination working hash energy of 444 PH/s.

New Miners

With the addition of those 6,000 subsequent era miners, HIVE’s combination working hash price from Bitcoin mining will improve to an estimated 1.673 Exahash per second (EH/s) or 1,673 PH/s by the top of 2021.

Primarily based on the order that has been positioned, this new gear is predicted to be obtained and in operation within the subsequent 6 months, delivered in 2 tranches, with 3,000 miners in every of July, and August 2021.

This growth will probably be for our operations in Canada and Iceland and are essential key steps to take us over 2,000 PH/s of Bitcoin mining capability utilizing inexperienced vitality by the top of 2021.

As we have now talked about earlier than, the COVID-19 pandemic continues to influence logistics and the availability of miners from Asia. At the moment’s announcement is a part of our persevering with technique to extend our bitcoin mining capability. HIVE intends to proceed using money move to make opportunistic investments in ASIC and GPU subsequent era mining gear that may present optimistic gross mining margins.

Chinese language New Yr is over and we at the moment are anticipating a rise in shipments of recent GPU’s with 8 gigabyte reminiscence playing cards to speed up, which ought to enhance our Ethereum manufacturing.

Our liquidity stays wholesome with money and cash valued over USD $65 million.

Coin Stock (HODL)

For the reason that starting of the calendar 12 months HIVE has been a Holder of all of mined Bitcoin and Ethereum cash and has been banking it into stock as a present technique, which we really feel will profit our shareholders.

About HIVE Blockchain Applied sciences Ltd.

HIVE Blockchain Applied sciences Ltd. is a progress oriented, TSX.V-listed firm constructing a bridge from the blockchain sector to conventional capital markets. HIVE owns state-of-the-art inexperienced energy-powered information centre amenities in Canada, Sweden, and Iceland which produce newly minted digital currencies like Bitcoin and Ethereum repeatedly on the cloud. Our deployments present shareholders with publicity to the working margins of digital forex mining in addition to a portfolio of crypto-coins.

For extra data and to register to HIVE’s mailing listing, please go to www.HIVEblockchain.com. Observe @HIVEblockchain on Twitter and subscribe to HIVE’s YouTube channel.

On Behalf of HIVE Blockchain Applied sciences Ltd.

“Frank Holmes”
Interim Government Chairman

For additional data please contact:
Frank Holmes
Tel: (604) 664-1078

Neither the TSX Enterprise Change nor its Regulation Providers Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Change) accepts accountability for the adequacy or accuracy of this information launch.

Ahead-Wanting Data

Apart from the statements of historic reality, this information launch comprises “forward-looking data” inside the which means of the relevant Canadian securities laws that’s based mostly on expectations, estimates and projections as on the date of this information launch. “Ahead-looking data” on this information launch contains details about the acquisition of 6,000 subsequent era miners, together with the anticipated supply, operation and improve in working hash price from Bitcoin mining; the achievement of an combination working hash energy of two,000 PH/s by the top of calendar 2021; the continued results of the COVID-19 pandemic on logistics and the availability of miners from Asia; the continued utilization of money move to make opportunistic investments in subsequent era mining gear that may present optimistic gross mining margins; potential additional enhancements to profitability and effectivity throughout mining operations, potential for the Firm’s long-term progress, and the enterprise targets and targets of the Firm.

Elements that would trigger precise outcomes to vary materially from these described in such forward-looking data embrace, however are usually not restricted to, the newly bought 6,000 subsequent era miners will not be delivered or operation within the timeframe presently anticipated, or might not have a optimistic influence on the Firm’s profitability; the Firm might not obtain an combination working hash energy of two,000 PH/s within the timeframe presently anticipated, or in any respect; continued results of the COVID-19 pandemic might have a cloth hostile impact on the Firm’s efficiency as provide chains are disrupted and forestall the Firm from working its belongings; a lower in cryptocurrency pricing, quantity of transaction exercise or usually, the profitability of cryptocurrency mining; additional enhancements to profitability and effectivity will not be realized; the digital forex market; the Firm’s means to efficiently mine digital forex; the Firm might not have the ability to profitably liquidate its present digital forex stock, or in any respect; a decline in digital forex costs might have a big adverse influence on the Firm’s operations; the volatility of digital forex costs; and different associated dangers as extra totally set out within the Submitting Assertion of the Firm and different paperwork disclosed beneath the Firm’s filings at www.sedar.com.

The forward-looking data on this information launch displays the present expectations, assumptions and/or beliefs of the Firm based mostly on data presently obtainable to the Firm. In reference to the forward-looking data contained on this information launch, the Firm has made assumptions concerning the present profitability in mining cryptocurrency (together with pricing and quantity of present transaction exercise); worthwhile use of the Firm’s belongings going ahead; the Firm’s means to profitably liquidate its digital forex stock as required; historic costs of digital currencies and the flexibility of the Firm to mine digital currencies will probably be in keeping with historic costs; and there will probably be no regulation or legislation that may stop the Firm from working its enterprise. The Firm has additionally assumed that no important occasions happen exterior of the Firm’s regular course of enterprise. Though the Firm believes that the assumptions inherent within the forward-looking data are affordable, forward-looking data just isn’t a assure of future efficiency and accordingly undue reliance shouldn’t be placed on such data as a result of inherent uncertainty therein.

SOURCE: Hive Blockchain Applied sciences Ltd

View supply model on accesswire.com:
https://www.accesswire.com/631270/HIVE-Blockchain-Expands-Bitcoin-Mining-Capability-by-36-With-Buy-of-6000-Subsequent-Technology-Miners-to-Improve-Future-Operations-to-1673-PHs





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