VANCOUVER, BC / ACCESSWIRE / January 28, 2021 / HIVE Blockchain Applied sciences Ltd. (TSX.V:HIVE) (OTCQX:HVBTF) (FSE:HBF) (the “Firm” or “HIVE“) is happy to announce an settlement to develop the footprint of their Sweden GPU mining information centre by an instantaneous 2 MW at an estimated price of US$ 9 million, by the tip of April 2021
By the tip of 2021 we’re planning a 30% improve in our Ethereum mining capability. The rapid enlargement of the working footprint could be completed via an infrastructure re-fitting of a portion of its current facility in Boden, Sweden at an estimated price of US$ 250,000 and the acquisition of latest technology GPU chips and related mining rigs to deal with them at an estimated price of US$ 8.75 million. These new technology chips are anticipated to be extra environment friendly than at present accessible GPU chips in the marketplace whereas consuming much less electrical energy, which ought to result in persevering with constructive gross margins.
As now we have talked about earlier than, the COVID-19 pandemic continues to affect logistics and the provision of miners from Asia. Immediately’s announcement is a part of our persevering with technique to extend our GPU mining capability. HIVE intends to proceed using money circulate to make opportunistic investments in ASIC and GPU new and subsequent technology mining gear that may present constructive gross mining margins.
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 constantly on the cloud. Our deployments present shareholders with publicity to the working margins of digital foreign money mining in addition to a portfolio of crypto-coins.
On Behalf of HIVE Blockchain Applied sciences Ltd.
Interim Government Chairman
For additional info please contact:
Tel: (604) 664-1078
Neither the TSX Enterprise Change nor its Regulation Companies 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.
Apart from the statements of historic truth, this information launch incorporates “forward-looking info” throughout 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 info” on this information launch consists of details about the continued results of the COVID-19 pandemic on logistics and the provision of miners from Asia; the continued utilization of money circulate to make opportunistic investments in subsequent technology mining gear that may present constructive gross mining margins; potential additional enhancements to profitability and effectivity throughout mining operations, abstract content material of the Firm’s unaudited monetary statements, potential for the Firm’s long-term progress, and the enterprise objectives and goals of the Firm.
Components that would trigger precise outcomes to vary materially from these described in such forward-looking info embrace, however should not restricted to, the subsequent technology GPU chips may not be delivered or in operation within the timeframe at present anticipated, or could not have a constructive affect on the Firm’s profitability; continued results of the COVID-19 pandemic could have a cloth adversarial impact on the Firm’s efficiency as provide chains are disrupted and stop the Firm from working its property; a lower in cryptocurrency pricing, quantity of transaction exercise or typically, the profitability of cryptocurrency mining; additional enhancements to profitability and effectivity is probably not realized; and the Firm’s precise outcomes could also be completely different from the unaudited outcomes reported herein; the digital foreign money market; the Firm’s means to efficiently mine digital foreign money; the Firm could not be capable of profitably liquidate its present digital foreign money stock, or in any respect; a decline in digital foreign money costs could have a big damaging affect on the Firm’s operations; the volatility of digital foreign money costs; and different associated dangers as extra totally set out within the Submitting Assertion of the Firm and different paperwork disclosed below the Firm’s filings at www.sedar.com.
The forward-looking info on this information launch displays the present expectations, assumptions and/or beliefs of the Firm based mostly on info at present accessible to the Firm. In reference to the forward-looking info 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 property going ahead; the Firm’s means to profitably liquidate its digital foreign money stock as required; historic costs of digital currencies and the flexibility of the Firm to mine digital currencies will likely be in keeping with historic costs; and there will likely be no regulation or legislation that may forestall the Firm from working its enterprise. The Firm has additionally assumed that no vital occasions happen outdoors of the Firm’s regular course of enterprise. Though the Firm believes that the assumptions inherent within the forward-looking info are affordable, forward-looking info will not be a assure of future efficiency and accordingly undue reliance shouldn’t be placed on such info as a result of inherent uncertainty therein.
SOURCE: Hive Blockchain Applied sciences Ltd
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