- HIVE Blockchain Technologies (HIVE) has purchased 6,500 Bitcoin miners
- This new equipment is expected to be received and deployed by the end of February 2022
- At the current difficulty and Bitcoin price these purchased miners will generate approximately 3.7 Bitcoin per day
- HIVE is in the business of providing infrastructure solutions in the blockchain industry, including the mining of digital currencies
- HIVE provides investors with exposure to the operating margins of digital currency mining, as well as a portfolio of cryptocurrencies such as ETH and BTC
- Hive Blockchain Stock opened trading at C$4.89 per share
HIVE Blockchain Technologies (HIVE) has purchased 6,500 Bitcoin miners with an aggregate hash power of 585 Petahash per second (PH/s).
The integration of these miners into HIVE’s systems will be made in tranches over the next 130 days.
This new equipment is expected to be received and in operation by the end of February 2022 in 3 tranches, with 3,000 miners in December 2021, 3,100 miners in January 2022 and 400 miners in February 2022.
At the current difficulty and Bitcoin price, these purchased miners will generate approximately 3.7 Bitcoin per day, or equivalent to an additional US$250,000 in daily income, or US$7,500,000 in monthly run rate income.
Frank Holmes, Executive Chairman of HIVE stated,
“We are pleased to be building on our strategic alliances with leading ASIC manufacturer Canaan to achieve our goals and drive value for our shareholders, with executing on a transaction that increases our cash flow and green mining capacity.
HIVE currently has approximately 1.2 Exahash per second (EH/s) of Bitcoin mining capacity, and with this new purchase, HIVE’s Bitcoin ASIC pipeline will be at 2 EH/s by December 2021, and 3 EH/s by March 2022. In addition to this, we are expanding our current active Ethereum mining capacity from approximately 4,000 Gigahash per second (GH/s), to 6,000 GH/s in new facilities in Sweden.”
HIVE is in the business of providing infrastructure solutions in the blockchain industry, including the mining of digital currencies.
HIVE provides investors with exposure to the operating margins of digital currency mining, as well as a portfolio of cryptocurrencies such as ETH and BTC.
Hive Blockchain Technologies Ltd. (HIVE) opened trading at C$4.89 per share.