HIVE Blockchain Announces Plans to Expand Ethereum Footprint by 30% Using 6 MW of Green Energy to Mine Ethereum

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 increase the footprint of their Sweden GPU mining knowledge centre by a direct 2 MW at an estimated price of US$ 9 million, by the top of April 2021

By the top of 2021 we’re planning a 30% improve in our Ethereum mining capability. The speedy growth of the working footprint could be completed by means of an infrastructure re-fitting of a portion of its present facility in Boden, Sweden at an estimated price of US$ 250,000 and the acquisition of latest era GPU chips and related mining rigs to accommodate them at an estimated price of US$ 8.75 million. These new era chips are anticipated to be extra environment friendly than at present out there GPU chips in the marketplace whereas consuming much less electrical energy, which ought to result in persevering with optimistic gross margins.

As we’ve got talked about earlier than, the COVID-19 pandemic continues to impression logistics and the provision of miners from Asia. At the moment’s announcement is a part of our persevering with technique to extend our GPU mining capability. HIVE intends to proceed using money movement to make opportunistic investments in ASIC and GPU new and subsequent era mining tools that may present optimistic gross mining margins.

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 knowledge centre services 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 foreign money mining in addition to a portfolio of crypto-coins.

For extra info and to register to HIVE’s mailing record, please go to www.HIVEblockchain.com. Comply with @HIVEblockchain on Twitter and subscribe to HIVE’s YouTube channel.

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On Behalf of HIVE Blockchain Applied sciences Ltd.

“Frank Holmes”
Interim Govt Chairman
For additional info please contact:
Frank Holmes
Tel: (604) 664-1078

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

Ahead-Trying Info

Aside from the statements of historic reality, this information launch comprises “forward-looking info” inside the that 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 continued results of the COVID-19 pandemic on logistics and the provision of miners from Asia; the continued utilization of money movement to make opportunistic investments in subsequent era mining tools that may present optimistic 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 development, and the enterprise targets and targets of the Firm.

Components that might trigger precise outcomes to vary materially from these described in such forward-looking info embrace, however will not be restricted to, the subsequent era GPU chips may not be delivered or in operation within the timeframe at present anticipated, or might not have a optimistic impression on the Firm’s profitability; continued results of the COVID-19 pandemic might have a fabric antagonistic 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; and the Firm’s precise outcomes could also be totally different from the unaudited outcomes reported herein; the digital foreign money market; the Firm’s skill to efficiently mine digital foreign money; the Firm might not be capable to profitably liquidate its present digital foreign money stock, or in any respect; a decline in digital foreign money costs might have a major destructive impression on the Firm’s operations; the volatility of digital foreign money costs; and different associated dangers as extra absolutely set out within the Submitting Assertion of the Firm and different paperwork disclosed underneath 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 out there 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 belongings going ahead; the Firm’s skill to profitably liquidate its digital foreign money stock as required; historic costs of digital currencies and the power of the Firm to mine digital currencies will likely be in step with historic costs; and there will likely be no regulation or regulation that can stop the Firm from working its enterprise. The Firm has additionally assumed that no important 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 isn’t 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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