Hive Blockchain (TSXV: HIVE) made a fairly opaque announcement this morning, indicating that it intends to broaden its Ethereum mining footprint by 30%. The corporate intends to broaden the footprint by way of using 6 megawatts of inexperienced power.
The reference to using 6 megawatts of inexperienced power nonetheless solely comes from the headline of this mornings launch, with the corporate offering minimal particulars on the matter as an entire. It’s unclear particularly what “inexperienced power” is to provide its facility that’s to be expanded.
The capability enlargement is to happen on the companies GPU mining information centre, with the corporate concentrating on a right away 2 megawatts of enlargement, at an anticipated value of US$9.0 million. Of this determine, US$250,000 could be devoted to refitting infrastructure at a portion of its present facility, whereas the rest is for use for the acquisition of recent era GPU chips and mining rigs. The improve is to happen by the tip of April 2021, nonetheless it’s unclear what this implies by way of hashrate capability.
The corporate additionally indicated that it intends to extend general capability for Ethereum mining by 30% by the tip of 2021, however offered no anticipated costing or additional particulars on this goal.
Hive Blockchain final traded at $2.26 on the TSX Enterprise.
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Because the founding father of The Deep Dive, Jay is concentrated on all points of the agency. This consists of operations, in addition to appearing as the first author for The Deep Dive’s inventory evaluation. Along with The Deep Dive, Jay performs freelance writing for quite a lot of companies and has been printed on Stockhouse.com and CannaInvestor Journal amongst others.
