This information launch constitutes a “designated information launch” for the needs of the Firm’s prospectus complement dated February 2, 2021 to its brief kind base shelf prospectus dated January 27, 2021.
VANCOUVER, BC / ACCESSWIRE / July 2, 2021 / HIVE Blockchain Applied sciences Ltd. (TSX.V:HIVE) (Nasdaq:HVBT) (FSE:HBF) (the “Firm” or “HIVE”) is happy to announce its long run excessive efficiency computing technique past Ethereum 2.0.
Ethereum and Bitcoin Progress Plans for 2021
HIVE’s present Ethereum manufacturing is over 3,000 Gigahash per second (“GH/s”) and has the potential to nearly double after card upgrades of over 5,500 GH/s by the tip of December 2021, and our present Bitcoin manufacturing is 544 Petahash per second, which we anticipate to double by early September 2021 to 1.0 Exahash per second (“EH/s”) and double once more by Christmas 2021 to 2.3 EH/s. Primarily based on present ETH and BTC costs and issue in mining our income may very well be US$30 million monthly when we’ve got all our machines put in and mining.
Lengthy Time period ‘HPC’ – Excessive Efficiency Computing Technique
Excessive efficiency GPU playing cards are key to HIVE’s long run technique to construct ‘HPC’ Excessive Efficiency Information Facilities that are rising in demand globally, whereas within the brief time period to be a extra environment friendly Ethereum miner and to extend our hash energy to supply extra virgin Ether and HODL these property on our steadiness sheet. For the previous yr Ethereum is up 821% whereas Bitcoin has appreciated 270% and we consider over the subsequent 2 years Ethereum may proceed to outperform Bitcoin. The Firm is of the opinion that Ethereum 2.0 proof of stake will take not less than one other 2 years earlier than Ethereum mining may turn into financially unattractive. We consider the brand new excessive performing GPU playing cards will stay sturdy, extensible expertise that may be scaled and repurposed for the growth in gaming, AI and film animation, thus versatile and worthwhile for a HPC (excessive efficiency computing) information enterprise technique for not less than one other 5 years. The Firm HODLs its Ethereum in a chilly pockets which ends up in a really liquid steadiness sheet asset. Later within the Ethereum life cycle we might take into account staking our virgin Ether for extra revenue.
Ethereum is the Spine to the Blockchain Tremendous Progress Wave
We consider Ethereum will proceed to be the spine of this new monetary ecosystem. Many consider Ethereum has already received the race to turn into the muse of Internet 3.0 and Finance 3.0, with the explosion in sensible contracts, stablecoins, DeFi typically and now NFT’s for music, artwork and sports activities. Ethereum has turn into the basic base layer to all these new functions and has probably the most builders constructing real-world functions on high of it. Consequently the community has constructed a big lead over its competitors. Most buyers usually are not conscious that Ethereum has considerably extra builders constructing on it than some other blockchain platform.
HIVE understands we’re within the early days, and this trade can change quickly. Subsequently we’re positioning ourselves with appreciable optionality. We’re ramping up Bitcoin mining on the cloud in addition to our GPU operations. HIVE is presently engaged on the design for pilot HPC websites in each Canada and Sweden after which anticipate to ramp up our HPC capability. Right now, the income from HPC is each a excessive margin enterprise like Ethereum mining but it’s a lot much less risky than cryptocurrency mining on a quarterly foundation.
We proceed to evaluation inexperienced power alternatives and have turned down financially enticing mining offers as a result of they aren’t utilizing inexperienced power. We’re centered on renewable sources of electrical energy akin to hydroelectric, geothermal, wind and photo voltaic. Thus far we’re solely utilizing hydroelectric and geothermal sources of electrical energy in Sweden, Iceland and Canada.
About HIVE Blockchain Applied sciences Ltd.
HIVE Blockchain Applied sciences Ltd. went public in 2017 as the primary cryptocurrency mining firm with a inexperienced power and ESG technique.
HIVE is a growth-oriented expertise inventory within the emergent blockchain trade. As an organization whose shares commerce on a serious inventory change, we’re constructing a bridge between the digital forex and blockchain sector and conventional capital markets. HIVE owns state-of-the-art, inexperienced energy-powered information centre services in Canada, Sweden, and Iceland, the place we supply solely inexperienced power to mine on the cloud and HODL each Ethereum and Bitcoin. Because the starting of 2021, HIVE has held in safe storage the vast majority of its ETH and BTC coin mining rewards. Our shares present buyers with publicity to the working margins of digital forex mining, in addition to a portfolio of cryptocurrencies akin to ETH and BTC. As a result of HIVE additionally owns exhausting property akin to information facilities and superior multi-use servers, we consider our shares provide buyers a beautiful technique to achieve publicity to the cryptocurrency house. HIVE traded over 2 billion shares in 2020.
We encourage you to go to HIVE’s YouTube channel here to be taught extra about HIVE.
On Behalf of HIVE Blockchain Applied sciences Ltd.
For additional data please contact:
Tel: (604) 664-1078
Neither the TSX Enterprise Alternate nor its Regulation Companies Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Alternate) accepts accountability for the adequacy or accuracy of this information launch.
Apart from the statements of historic reality, this information launch comprises “forward-looking data” throughout the that means of the relevant Canadian and U.S. securities laws that’s based mostly on expectations, estimates and projections as on the date of this information launch. “Ahead-looking data” on this information launch contains however just isn’t restricted to, statements with respect to itemizing and buying and selling on the Nasdaq.
Elements that would trigger precise outcomes to vary materially from these described in such forward-looking data embody, however usually are not restricted to the Firm’s skill to efficiently mine digital forex; the Firm might not be capable of profitably liquidate its present digital forex stock as required, or in any respect; a cloth decline in digital forex costs might have a big unfavorable impression on the Firm’s operations; the volatility of digital forex costs; continued results of the COVID-19 pandemic might have a cloth antagonistic impact on the Firm’s efficiency as provide chains are disrupted and forestall the Firm from finishing up its growth plans or working its property; and different associated dangers as extra absolutely set out within the registration assertion of the Firm and different paperwork disclosed beneath the Firm’s filings at www.sec.gov/EDGAR and www.sedar.com.
The forward-looking data on this information launch displays the present expectations, assumptions and/or beliefs of the Firm based mostly on data presently out there to the Firm. In reference to the forward-looking data 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 property going ahead; the Firm’s skill to profitably liquidate its digital forex stock as required; historic costs of digital currencies and the power of the Firm to mine digital currencies might be according to historic costs; and there might be no regulation or regulation that can stop the Firm from working its enterprise. The Firm has additionally assumed that no vital occasions happen outdoors of the Firm’s regular course of enterprise. Though the Firm believes that the assumptions inherent within the forward-looking data are affordable, forward-looking data just isn’t a assure of future efficiency and accordingly undue reliance shouldn’t be placed on such data resulting from their inherent uncertainty.
SOURCE: Hive Blockchain Applied sciences Ltd
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