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 develop the footprint of their Sweden GPU mining information centre by a direct 2 MW at an estimated price of US$ 9 million, by the top of April 2021
By the top of 2021 we’re planning a 30% enhance in our Ethereum mining capability. The fast growth of the working footprint could be completed by means of an infrastructure re-fitting of a portion of its present facility in Boden, Sweden at an estimated price of US$ 250,000 and the acquisition of recent technology GPU chips and related mining rigs to deal with them at an estimated price of US$ 8.75 million. These new technology chips are anticipated to be extra environment friendly than at present out there GPU chips available on the market 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 affect logistics and the provision of miners from Asia. Immediately’s announcement is a part of our persevering with technique to extend our GPU mining capability. HIVE intends to proceed using money circulation 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 information centre services in Canada, Sweden, and Iceland which produce newly minted digital currencies like Bitcoin and Ethereum constantly on the cloud. Our deployments present shareholders with publicity to the working margins of digital foreign money mining in addition to a portfolio of crypto-coins.
On Behalf of HIVE Blockchain Applied sciences Ltd.
Interim Govt Chairman
For additional info please contact:
Tel: (604) 664-1078
Neither the TSX Enterprise Change nor its Regulation Companies Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Change) accepts accountability for the adequacy or accuracy of this information launch.
Aside from the statements of historic reality, this information launch comprises “forward-looking info” throughout the that 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 provision of miners from Asia; the continued utilization of money circulation 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 targets of the Firm.
Elements that would trigger precise outcomes to vary materially from these described in such forward-looking info embrace, however should 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 affect on the Firm’s profitability; continued results of the COVID-19 pandemic could have a fabric 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 completely different from the unaudited outcomes reported herein; the digital foreign money market; the Firm’s potential to efficiently mine digital foreign money; the Firm could not be capable to profitably liquidate its present digital foreign money stock, or in any respect; a decline in digital foreign money costs could have a big adverse affect on the Firm’s operations; the volatility of digital foreign money costs; and different associated dangers as extra absolutely set out within the Submitting Assertion of the Firm and different paperwork disclosed underneath 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 out there 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 potential to profitably liquidate its digital foreign money stock as required; historic costs of digital currencies and the power of the Firm to mine digital currencies can be in line with historic costs; and there can be no regulation or regulation that can forestall 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 shouldn’t 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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