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 right away 2 MW at an estimated value of US$ 9 million, by the tip of April 2021
By the tip of 2021 we’re planning a 30% improve in our Ethereum mining capability. The instant enlargement of the working footprint could be completed by an infrastructure re-fitting of a portion of its current facility in Boden, Sweden at an estimated value of US$ 250,000 and the acquisition of recent technology GPU chips and related mining rigs to accommodate them at an estimated value of US$ 8.75 million. These new technology chips are anticipated to be extra environment friendly than at present accessible GPU chips in the marketplace whereas consuming much less electrical energy, which ought to result in persevering with constructive gross margins.
As we have now talked about earlier than, the COVID-19 pandemic continues to influence logistics and the availability of miners from Asia. Right now’s announcement is a part of our persevering with technique to extend our GPU mining capability. HIVE intends to proceed using money stream to make opportunistic investments in ASIC and GPU new and subsequent technology mining tools that may present constructive gross mining margins.
About HIVE Blockchain Applied sciences Ltd.
HIVE Blockchain Applied sciences Ltd. is a progress 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 amenities 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 forex mining in addition to a portfolio of crypto-coins.
On Behalf of HIVE Blockchain Applied sciences Ltd.
Interim Government Chairman
For additional info please contact:
Tel: (604) 664-1078
Neither the TSX Enterprise Trade nor its Regulation Providers Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Trade) accepts duty for the adequacy or accuracy of this information launch.
Apart from the statements of historic truth, this information launch incorporates “forward-looking info” throughout the which 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 consists of details about the continued results of the COVID-19 pandemic on logistics and the availability of miners from Asia; the continued utilization of money stream to make opportunistic investments in subsequent technology mining tools that may present constructive 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 progress, and the enterprise targets and aims of the Firm.
Elements that would trigger precise outcomes to vary materially from these described in such forward-looking info embody, however are usually not restricted to, the following technology GPU chips may not be delivered or in operation within the timeframe at present anticipated, or could not have a constructive influence on the Firm’s profitability; continued results of the COVID-19 pandemic could have a cloth adversarial impact on the Firm’s efficiency as provide chains are disrupted and stop 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 is probably not realized; and the Firm’s precise outcomes could also be totally different from the unaudited outcomes reported herein; the digital forex market; the Firm’s capacity to efficiently mine digital forex; the Firm could not have the ability to profitably liquidate its present digital forex stock, or in any respect; a decline in digital forex costs could have a major unfavourable influence on the Firm’s operations; the volatility of digital forex costs; and different associated dangers as extra absolutely set out within the Submitting Assertion of the Firm and different paperwork disclosed below 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 accessible to the Firm. In reference to the forward-looking info contained on this information launch, the Firm has made assumptions concerning 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 capacity to profitably liquidate its digital forex stock as required; historic costs of digital currencies and the power of the Firm to mine digital currencies will probably be in step with historic costs; and there will probably be no regulation or legislation that may stop the Firm from working its enterprise. The Firm has additionally assumed that no vital occasions happen exterior 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 will not be 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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