VANCOUVER, BC / ACCESSWIRE / February 23, 2021 / HIVE Blockchain Applied sciences Ltd. (TSX.V:HIVE) (OTCQX:HVBTF) (FSE:-HBF) (the “Firm” or “HIVE”) is happy 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 technology miners with an combination working hash energy of 444 PH/s.
With the addition of those 6,000 subsequent technology miners, HIVE’s combination working hash charge from Bitcoin mining will improve to an estimated 1.673 Exahash per second (EH/s) or 1,673 PH/s by the tip 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 enlargement shall 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 tip of 2021.
As now we have talked about earlier than, the COVID-19 pandemic continues to impression logistics and the availability of miners from Asia. Immediately’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 technology mining gear that may present constructive gross mining margins.
Chinese language New Yr is over and we at the moment are anticipating a rise in shipments of latest 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)
Because the starting of the calendar yr 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 development 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 forex 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 duty for the adequacy or accuracy of this information launch.
Apart from the statements of historic truth, this information launch accommodates “forward-looking info” 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 info” on this information launch contains details about the acquisition of 6,000 subsequent technology miners, together with the anticipated supply, operation and improve in working hash charge from Bitcoin mining; the achievement of an combination working hash energy of two,000 PH/s by the tip 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 technology mining gear that may present constructive gross mining margins; potential additional enhancements to profitability and effectivity throughout mining operations, potential for the Firm’s long-term development, and the enterprise targets and aims of the Firm.
Elements that would trigger precise outcomes to vary materially from these described in such forward-looking info embody, however will not be restricted to, the newly bought 6,000 subsequent technology miners might not be delivered or operation within the timeframe at present anticipated, or might not have a constructive impression on the Firm’s profitability; the Firm might not obtain an combination working hash energy of two,000 PH/s within the timeframe at present anticipated, or in any respect; continued results of the COVID-19 pandemic might have a cloth opposed 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 might not be realized; the digital forex market; the Firm’s potential to efficiently mine digital forex; the Firm might not be capable of profitably liquidate its present digital forex stock, or in any respect; a decline in digital forex costs might have a big destructive impression 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 info on this information launch displays the present expectations, assumptions and/or beliefs of the Firm based mostly on info at present obtainable to the Firm. In reference to the forward-looking info contained on this information launch, the Firm has made assumptions in regards to 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 potential to profitably liquidate its digital forex stock as required; historic costs of digital currencies and the flexibility of the Firm to mine digital currencies shall be according to historic costs; and there shall 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 cheap, 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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