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HIVE Blockchain Technologies Ltd. has reported its fiscal year-end coin inventory, holding over 320 Bitcoin and 20,030 Ethereum, valued at approximately $60 million. The company's strategy involves HODLing these coins, anticipating a potential revenue surge of 300% based on current cryptocurrency prices. HIVE also aims to increase Bitcoin production to 3 Exahash over the next year. While disruptions due to COVID-19 may impact supply lines, HIVE plans to invest in next-generation mining equipment to maintain profitability.
HIVE Blockchain Technologies Ltd. announced a share swap agreement with DeFi Technologies Inc., where HIVE will acquire 10 million shares of DeFi, constituting 7% of its outstanding shares, in exchange for 4 million HIVE shares, about 1% of HIVE's total. The deal, set to close around April 16, 2021, aims to create a strategic partnership in the decentralized finance (DeFi) ecosystem. HIVE, currently the only public company mining Ethereum at scale, seeks to leverage the booming DeFi market, which grew from $3 billion to $71 billion in market cap over the past year.
HIVE Blockchain Technologies Ltd. invites investors to an exclusive webcast focused on the role of digital currencies and gold in investment portfolios. The event occurs on March 10, 2021, at 11:00 a.m. PT. Speakers include Frank Holmes, CEO of U.S. Global Investors and Executive Chairman of HIVE, along with CFO Darcy Daubaras and Mike McGlone of Bloomberg Intelligence. Registration for the free event is available online. HIVE specializes in green energy-powered data centers in Canada, Sweden, and Iceland, producing Bitcoin and Ethereum.
HIVE Blockchain Technologies Ltd. (HVBTF) reported impressive third-quarter results for the period ending December 31, 2020. Income from digital currency mining surged by 174% year-over-year to $13.7 million, with a gross mining margin of $10.6 million, representing 78% of revenue. Net income increased to $17.2 million, or $0.05 per share, compared to $3.4 million a year earlier. Mining operations in Sweden and Iceland remain profitable, producing approximately 20,000 Ethereum coins quarterly. Despite a drop in Ethereum production, Bitcoin output doubled, contributing to record cash flow.
HIVE Blockchain Technologies Ltd. will host a webcast on March 2, 2021, at 10:00 a.m. ET, to discuss its financial results for the nine months ending December 31, 2020. Financial data for the quarter will be available prior to the event. Frank Holmes, the Interim Executive Chairman, and Darcy Daubaras, the CFO, will present. HIVE operates eco-friendly data centers in Canada, Sweden, and Iceland, producing cryptocurrencies like Bitcoin and Ethereum, providing shareholders with exposure to digital currency mining margins.
HIVE Blockchain Technologies Ltd. has announced its achievement of surpassing its 2021 ASIC capacity goal of 2,000 Petahash per second (PH/s) by securing 10,500 next-generation miners with a combined hash power of 711 PH/s. This brings HIVE's total mining capacity to 2,474 PH/s by the end of 2021. The company will receive the miners from two suppliers to mitigate delivery risks. HIVE emphasizes its focus on enhancing Bitcoin and Ethereum mining while using only green energy. The press release also underscores ongoing challenges due to the COVID-19 pandemic.
HIVE Blockchain Technologies Ltd. has signed a Share Purchase Agreement to acquire GPU Atlantic Inc. from GPU.One Holding Inc. for approximately C$25 million, enhancing its Canadian presence. This acquisition includes a 50 MW cryptocurrency mining facility in New Brunswick, expected to double HIVE's total power capacity to 100 MW. The deal facilitates the integration of experienced GPU One management and aligns with HIVE’s strategy of utilizing low-cost green energy. The acquisition is subject to regulatory approvals and is projected to close in three weeks.
HIVE Blockchain Technologies Ltd. has taken a significant step towards its 2021 ASIC capacity goal of 2,000 Petahash per second (PH/s) by acquiring 3,000 next-generation miners, increasing its projected total hash power to 1,763 PH/s by year-end.
The new miners are expected to be operational within 60 days, enhancing HIVE's Bitcoin mining capacity significantly. Additionally, the company reported approximately US $65 million in cash and coin assets, and approved the grant of stock options and RSUs to a director, subject to TSX Venture Exchange approval.
HIVE Blockchain Technologies Ltd. (OTCQX:HVBTF) has announced a significant step towards its 2021 goal of achieving 2,000 Petahash per second (PH/s) in Bitcoin mining capacity by purchasing 6,000 next-generation miners, adding 444 PH/s. The total operating hash rate is expected to reach 1,673 PH/s by the end of 2021. Deliveries are expected in two tranches in July and August 2021. HIVE maintains strong liquidity, with assets worth over USD $65 million, and continues to hold all mined Bitcoin and Ethereum, believing it will benefit shareholders.
HIVE Blockchain Technologies Ltd. (OTCQX:HVBTF) will host a webcast on December 1, 2020, at 10:00 a.m. ET to discuss its financial results for the six months ending September 30, 2020. Financial data will be released prior to this event. Interim Executive Chairman Frank Holmes and CFO Darcy Daubaras will present. HIVE aims to connect the blockchain sector to traditional capital markets, operating green energy-powered data centers in Canada, Sweden, and Iceland for digital currency mining, providing shareholders with exposure to operating margins and crypto-coin portfolios.
