- HIVE Blockchain Technologies (HIVE) is pleased to announce its investment in Titan.IO, Inc.
- Titan offers software that helps Bitcoin miners increase their efficiency and scalability
- HIVE will issue US$5M of shares and warrants to Titan
- Titan will issue common shares representing 10 per cent of the company’s outstanding equity to HIVE
- HIVE Blockchain Technologies provides infrastructure solutions in the blockchain industry
- Titan provides software and services for crypto mining
- HIVE Blockchain Stock opened trading at C$4.84 per share
HIVE Blockchain Technologies (HIVE) is pleased to announce its investment in Titan.IO, Inc.
Titan is a cutting-edge blockchain software company and the creator of Lumerin, a next generation decentralized mining marketplace where hashpower can be bought and sold using tokens.
Titan offers software that helps Bitcoin miners increase their efficiency and scalability. It also operates the Titan Mining Pool, which recently surpassed 3 Exahash of Bitcoin mining capacity.
The investment in Titan has been structured as a share exchange under which HIVE will issue securities consisting of shares and warrants to Titan having a value of US$5 million at C$6/share, the same terms as the recently-announced private placement.
Titan will issue common shares in an amount representing 10 per cent of the company’s outstanding equity to HIVE.
The transaction is pending TSX Venture Exchange approval.
HIVE Executive Chairman Frank Holmes strongly endorses the Titan team, stating,
“We’re backing an extremely strong technological team at Titan, led by expert 15-year veteran software coder CEO Ryan Condron. We were also impressed by Matthew Roszak, co-founder and chairman of Bloq, a leading enterprise software blockchain company. And co-founder Jeff Garzik was an early Bitcoin core developer. HIVE wants to participate in growth in the blockchain ecosystem such as mining software, transparent pools and innovative new tokens, and this is another strategic way to do that. We look forward to working with Titan to capture new opportunities as Bitcoin mining power shifts from China to North America.”
Ryan Condron, Titan’s CEO and Co-Founder, echoed Frank’s sentiment.
“We’re very excited to be partnering with HIVE. We founded Titan in order to maximize the optimization and decentralization of mining at any scale. In that journey, we have greatly appreciated HIVE’s expertise and leadership in the mining space. We look forward to working with them to maximize mining efficiency and transform hashpower into a global tradeable commodity using the Lumerin Protocol.”
HIVE Blockchain Technologies went public in 2017 as the first cryptocurrency mining company with a 100 per cent green energy focus and an ESG strategy. HIVE Blockchain Technologies is in the business of providing infrastructure solutions in the blockchain industry, including the mining of digital currencies.
Titan provides powerful software and services for crypto mining at scale and now offers the first enterprise-grade mining pool.
HIVE Blockchain Technologies Ltd. (HIVE) opened trading at C$4.84 per share.