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.

Video Articles

2026 Could Be Gold’s Biggest Year Yet!? | Ryan King – Equinox Gold

Gold Is Screaming Higher While Currencies Burn | Simon Ridgway – Rackla Metals

We Have the Highest-Grade Antimony Deposit in North America!? | Jim Atkinson -Antimony Resources

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

Hut 8 Mining: Ethereum Equipment Purchase Likely Bid To Boost Valuation

On March 26, Hut 8 Mining Corp. (TSX: HUT) agreed to purchase US$30 million of...

Monday, March 29, 2021, 02:47:00 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

Market Moving: The Elements of the Venture Exchange’s Ongoing Resurgence

The TSX Venture Exchange is the largest regulated venture-stage equities exchange in the world. Those...

Wednesday, January 29, 2020, 09:44:24 AM

Hive Blockchain Exceeds 1 Exahash Per Second In Bitcoin Mining

As it had announced earlier this month, HIVE Blockchain Technologies Ltd. (TSXV: HIVE) shared that...

Friday, August 27, 2021, 07:33:00 AM

Hive Announces Ethereum Capacity Expansion, Provides Minimal Details

Hive Blockchain (TSXV: HIVE) made a rather opaque announcement this morning, indicating that it intends...

Thursday, January 28, 2021, 07:08:46 AM