VANCOUVER, BC / ACCESSWIRE / January 19, 2021 / HIVE Blockchain Applied sciences Ltd. (TSX.V:HIVE)(OTCQX:HVBTF)(FSE:HBF) (the “Firm” or “HIVE”) is happy to announce that it has achieved its beforehand introduced 2021 ASIC capability purpose of 1,000 Petahash per second (PH/s) with the acquisition of 6,400 Canaan AvalonMiner 1246 subsequent era miners with an mixture working hash energy of 576 PH/s.
With the addition of those 6,400 Canaan AvalonMiner 1246 Miners, HIVE’s mixture working hash price from Bitcoin mining will improve to an estimated 1.229 Exahash per second (EH/s) or 1,229 PH/s by the tip of 2021.
Based mostly on the orders which were positioned, this new gear is anticipated to be delivered in 8 tranches in 2021, with 500 miners delivered in Might and June and 900 miners delivered every month within the the rest of calendar 2021 commencing with the July supply.
These secured orders are the end result of the assertive steps that HIVE has taken in direction of the imaginative and prescient to attain an mixture working hash energy of 1,000 PH/s by the tip of calendar 2021. With these secured purchases the Firm has achieved this monumental purpose sooner than deliberate. We are actually targeted on new alternatives to extend our Bitcoin mining capability, with a brand new purpose of two,000 PH/s by the tip of 2021.
As we now have talked about earlier than, the COVID-19 pandemic continues to influence logistics and the provision of miners from Asia. At the moment’s announcement is a part of our persevering with technique to extend our bitcoin mining capability. HIVE intends to proceed using money stream to make opportunistic investments in ASIC and GPU subsequent era mining gear 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 repeatedly 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 Government Chairman
For additional info please contact:
Tel: (604) 664-1078
Neither the TSX Enterprise Trade nor its Regulation Providers Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Trade) accepts accountability 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 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 contains details about the acquisition of 6,400 Canaan AvalonMiner 1246 Miners, together with the anticipated supply, operation and improve in working hash price from Bitcoin mining; the achievement of an mixture working hash energy of two,000 PH/s by the tip of calendar 2021; the continued results of the COVID-19 pandemic on logistics and the provision of miners from Asia; the continued utilization of money stream to make opportunistic investments in subsequent era mining gear 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.
Components that might trigger precise outcomes to vary materially from these described in such forward-looking info embody, however are usually not restricted to, the newly bought 6,400 Canaan AvalonMiner 1246 Miners might not be delivered or operation within the timeframe at the moment anticipated, or could not have a constructive influence on the Firm’s profitability; the Firm could not obtain an mixture working hash energy of two,000 PH/s within the timeframe at the moment anticipated, or in any respect; continued results of the COVID-19 pandemic could have a fabric antagonistic impact on the Firm’s efficiency as provide chains are disrupted and stop the Firm from working its property; a lower in cryptocurrency pricing, quantity of transaction exercise or usually, the profitability of cryptocurrency mining; additional enhancements to profitability and effectivity might not be 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 means to efficiently mine digital foreign money; the Firm could not be capable of profitably liquidate its present digital foreign money stock, or in any respect; a decline in digital foreign money costs could have a big damaging influence 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 beneath 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 the moment accessible 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 property going ahead; the Firm’s means 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 might be in line with historic costs; and there might be no regulation or regulation that can forestall the Firm from working its enterprise. The Firm has additionally assumed that no vital occasions happen outdoors 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 just isn’t 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
View supply model on accesswire.com: