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 Development Plans for 2021
HIVE’s present Ethereum manufacturing is over 3,000 Gigahash per second (“GH/s”) and has the potential to virtually double after card upgrades of over 5,500 GH/s by the top 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. Based mostly on present ETH and BTC costs and problem in mining our income could possibly be US$30 million per 30 days 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 provide extra virgin Ether and HODL these belongings on our stability sheet. For the previous yr Ethereum is up 821% whereas Bitcoin has appreciated 270% and we consider over the following 2 years Ethereum may proceed to outperform Bitcoin. The Firm is of the opinion that Ethereum 2.0 proof of stake will take a minimum of one other 2 years earlier than Ethereum mining may grow to be financially unattractive. We consider the brand new excessive performing GPU playing cards will stay strong, extensible know-how 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 a minimum of one other 5 years. The Firm HODLs its Ethereum in a chilly pockets which ends up in a really liquid stability sheet asset. Later within the Ethereum life cycle we could contemplate staking our virgin Ether for added earnings.
Ethereum is the Spine to the Blockchain Tremendous Development Wave
We consider Ethereum will proceed to be the spine of this new monetary ecosystem. Many consider Ethereum has already gained the race to grow to be the inspiration 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 grow to be the elemental base layer to all these new functions and has essentially the most builders constructing real-world functions on high of it. Consequently the community has constructed a big lead over its competitors. Most traders are usually not conscious that Ethereum has considerably extra builders constructing on it than another blockchain platform.
HIVE understands we’re within the early days, and this trade can change quickly. Due to this fact 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. At the moment, the income from HPC is each a excessive margin enterprise like Ethereum mining but it’s a lot much less unstable than cryptocurrency mining on a quarterly foundation.
We proceed to evaluation inexperienced vitality alternatives and have turned down financially engaging mining offers as a result of they don’t seem to be utilizing inexperienced vitality. We’re centered on renewable sources of electrical energy reminiscent of hydroelectric, geothermal, wind and photo voltaic. To this point 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 vitality and ESG technique.
HIVE is a growth-oriented know-how inventory within the emergent blockchain trade. As an organization whose shares commerce on a serious inventory trade, we’re constructing a bridge between the digital foreign money and blockchain sector and conventional capital markets. HIVE owns state-of-the-art, inexperienced energy-powered information centre amenities in Canada, Sweden, and Iceland, the place we supply solely inexperienced vitality to mine on the cloud and HODL each Ethereum and Bitcoin. Because the starting of 2021, HIVE has held in safe storage nearly all of its ETH and BTC coin mining rewards. Our shares present traders with publicity to the working margins of digital foreign money mining, in addition to a portfolio of cryptocurrencies reminiscent of ETH and BTC. As a result of HIVE additionally owns laborious belongings reminiscent of information facilities and superior multi-use servers, we consider our shares provide traders a horny solution to acquire 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 info please contact:
Tel: (604) 664-1078
Neither the TSX Enterprise Trade nor its Regulation Companies 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 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 info” on this information launch consists of however 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 info embrace, however are usually not restricted to the Firm’s capacity to efficiently mine digital foreign money; the Firm could not have the ability to profitably liquidate its present digital foreign money stock as required, or in any respect; a fabric decline in digital foreign money costs could have a major damaging affect on the Firm’s operations; the volatility of digital foreign money costs; continued results of the COVID-19 pandemic could have a fabric opposed impact on the Firm’s efficiency as provide chains are disrupted and stop the Firm from finishing up its growth plans or working its belongings; and different associated dangers as extra totally set out within the registration assertion of the Firm and different paperwork disclosed underneath the Firm’s filings at www.sec.gov/EDGAR and 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 presently 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 capacity to profitably liquidate its digital foreign money stock as required; historic costs of digital currencies and the flexibility of the Firm to mine digital currencies will likely be in keeping with historic costs; and there will likely be no regulation or legislation that can forestall the Firm from working its enterprise. The Firm has additionally assumed that no important 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 isn’t a assure of future efficiency and accordingly undue reliance shouldn’t be placed on such info as a consequence of their inherent uncertainty.
SOURCE: Hive Blockchain Applied sciences Ltd
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