What’s Up with HIVE Blockchain Technologies Ltd (OTCMKTS:HVBTF) Is In News

HIVE Blockchain Technologies Ltd (OTCMKTS:HVBTF) continues to trade lower and trading weak in the opening session Friday.

Market Action

As of 9:51, HVBTF stock is trading down by 4.65% to $2.60. The stock has witnessed a total volume with 243K shares, compared to its average volume of 2.90 million. The stock has moved within a range of $2.5500 – 2.6500 after opening the trade at $2.575.

HIVE Announces 10 MW Expansion of Green Energy GPU Data Centre in Sweden, HODL and ESG Update

  • announce that it has received confirmation from Bodens Energi Nät AB for an additional guaranteed 10 MW of green energy electricity for its GPU data centre in Sweden. This increase is on top of the previously announced 2 MW expansion on January 28, 2021.
  • These combined expansions increase the capacity of the facility by over 50% from 21 MW to 33 MW. Presently we are securing new state of the art performing GPU cards for this expansion.
  • As previously announced in April of this year, HIVE started mining Ethereum Classic before the prices surged to the current price of US$75 a coin, and continues to mine Ethereum Classic due to its profitability. We have chosen to mine and sell Ethereum Classic to assist in covering electricity and basic general & administrative costs while saving in cold wallets our Bitcoin and Ethereum production.
  • HIVE continues to be a Holder of mined Bitcoin and Ethereum coins and has been banking them in cold wallets. Our continued strategy is one to continue holding coins, as we feel that it will benefit our shareholders. The current dollar value of our crypto assets is approximately US $79 million (based on US $2,700 Ethereum and US $38,500 Bitcoin) and cash is US $36 million. The value of the coins have been volatile while our cash position remains stable and healthy.

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