Saturday, May 31, 2025

Latest

Hive Blockchain Purchases 6,000 Additional Miners, Pushing Capacity To 1.67 EH/s

Hive Blockchain (TSXV: HIVE) continues to build out its operations. The company this morning announced that it has purchased 6,000 additional miners, which are expected to add a further 444 PH/s of computing power to its current capacity.

The additional miners are expected to bring the firms total ASIC computing power to 1.673 EH/s, bringing it ahead once again of the computing power of rival miner Bitfarms (TSXV: BITF), whom is on its way to 1.3 EH/s of capacity. The new equipment is currently slated to arrive over the course of the next six months, with 3,000 miners to be delivered in each of July and August 2021.

The expansion is slated to occur in both Canada and Iceland, with the company remaining firm on its target of 2.0 EH/s of capacity by year end. Financial details of the transaction were not provided, however the company did indicate that it currently remains liquid with over US$65 million in cash and cryptocoins, along with an outstanding US$100 million ATM financing.

Finally, the company indicated that it has held all mined bitcoin and ethereum, banking it in the firms inventory as the valuation of the coins continue to rise.

Hive Blockchain last traded at $6.28 on the TSX Venture.


The author has no securities or affiliations related to any organization mentioned. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

How To Profit From $3300 Gold? An Inside Look At A Massive 300,000 Oz Project | Martino De Ciccio

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

Recommended

ESGold Begins Concentration Tests Ahead Of First Production

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

Related News

Bitcoin Miners Have Displayed Unusual Trading Patterns Versus Bitcoin Itself

Bitcoin has doubled over the last three months, surpassing its April 2021 high, and shows...

Thursday, October 21, 2021, 03:48:00 PM

Hive Blockchain Announces Purchase Of 10,500 New Miners, Capacity To Grow To 2.47 EH/s

Hive BLockchain (TSXV: HIVE) this morning announced that the company has purchased even more cryptocurrency...

Monday, March 1, 2021, 07:38:55 AM

Hive Blockchain Posts $66.7 Million In Revenue For Fiscal Year 2021

HIVE Blockchain Technologies Ltd. (TSXV: HIVE) announced today its financial results for the full fiscal...

Friday, September 24, 2021, 09:20:00 AM

Are Bitcoiners the Freedom Fighters of Capital? – The Daily Dive

Starting off the week on The Daily Dive today is Frank Holmes, Executive Chairman of...

Tuesday, April 19, 2022, 01:30:00 PM

Hive Blockchain Records 234 Bitcoin Growth In August 2021, Orders 3,000 Miners For 2022

Fresh from reaching its 1 EH/s hashrate mark, HIVE Blockchain Technologies Ltd. (TSXV: HIVE) announced...

Wednesday, September 8, 2021, 08:02:48 AM