Hive Blockchain Expands Mining Capacity Again To 1.76 EH/s

Hive Blockchain (TSXV: HIVE) evidently wasn’t satisfied with the announced purchase of 6,000 additional crypto miners yesterday. The company this morning announced a further expansion yet again, with the company purchasing another 3,000 miners to expand its capacity.

The announcement this morning will see an aggregate hash power of 90 PH/s added to its total capacity, bringing the planned expansions up from the 1.673 EH/s reported yesterday to that of 1.763 EH/s as per the company. The new equipment is to be operational within the next 60 days.

Deliveries of the equipment are to begin in March, with the delivery of 500 units of the undisclosed “next generation” miners, while the remaining 2,500 miners are to be delivered at some point in April. The price target of the units was not provided, however the company indicated that it will be using its current cash flow to purchase the equipment.

Hive Blockchain last traded at $4.90 on the TSX Venture.

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