web analytics
15.8 C
Munich
Saturday, July 24, 2021

GPU Atlantic Inc. the Story of HIVE Blockchain Technologies Ltd . (TSX.V:HIVE) (OTCQX:HVBTF)

HIVE Blockchain Technologies Ltd . (TSX.V:HIVE) (OTCQX:HVBTF) is making a powerful run up the charts in recent days on a massive surge of volume as crypto currency is once again on fire as BTC looks to make all time new highs.

HIVE Blockchain recently purchased 1,240 MicroBT WhatsMiner M30S miners with an aggregate operating hash power of 113 Petahash per second (PH/s) as it continues to expand its bitcoin mining operations. With the addition of these 1,240 MicroBT WhatsMiner M30S miners, HIVE’s aggregate operating hash rate almost doubles from 116 PH/s to 229 PH/s. The stock currently trades at a fraction it did back in 2018 at BTC all-time highs with better fundamentals now.

HIVE Blockchain Technologies Ltd . (TSX.V:HIVE) (OTCQX:HVBTF) is a growth oriented, TSX.V-listed company building a bridge from the blockchain sector to traditional capital markets.. HIVE currently operates data centres that are the building blocks of blockchain infrastructure. HIVE’s data centres in North America and Europe have access to approximately 50 megawatts of power, placing it among the largest and most diversified of any publicly-listed cryptocurrency miner. HIVE is currently utilizing its facilities to mine cryptocurrencies, including Bitcoin and Ethereum, continuously on the cloud. HIVE is dedicated to mitigating its environmental impact and have built our facilities in jurisdictions with access to relatively low-cost green/renewable energy. By mitigating our environmental impact, HIVE is building sustainable operations that will power the blockchain of the present and the future.

Earlier this year HIVE Blockchain reported its results for the first quarter ended June 30, 2020. For the three months ended June 30, 2020, income from digital currency mining was $6.6 million, a decrease of approximately 28% from the prior year. The decrease was primarily due to a decline in the production of Bitcoin due to the suspension of the Company’s cloud mining agreements with its former strategic partner after they became unprofitable in the third quarter of fiscal 2020, partially offset by an increase in the production of Ethereum. Net income during the quarter was $1.8 million, or $0.00 per share, compared to $5.6 million, or $0.02 per share, in the prior year period. The decrease was primarily due to gains recorded on investments and digital currencies in the prior year period.

HIVE Blockchain recently purchased 1,240 MicroBT WhatsMiner M30S miners with an aggregate operating hash power of 113 Petahash per second (PH/s) as it continues to expand its bitcoin mining operations. With the addition of these 1,240 MicroBT WhatsMiner M30S miners, HIVE’s aggregate operating hash rate almost doubles from 116 PH/s to 229 PH/s.

To Find out the inside Scoop on HIVE Blockchain Subscribe to Microcapdaily.com Right Now by entering your Email in the box below

HVBTF

This new equipment, which is already electrified, will be hosted by DMG Blockchain Solutions Inc.  at their facility located at Christina Lake, British Columbia. DMG COO Sheldon Bennett commented, “DMG is excited to welcome HIVE Blockchain as a client and partner. Hive has continued to demonstrate leadership and vision in the mining industry.”

On November 23 HIVE Blockchain Technologies entered into a non-binding, exclusive memorandum of understanding (MOU) with GPU.One Holding Inc. (GPU.One) to expand HIVEs Canadian footprint through the potential purchase of GPU Atlantic Inc. (GPU Atlantic). GPU Atlantic Inc. has recently constructed a new and state of the art 50 MW data centre campus located in New Brunswick, Canada. The campus contains GPU.Ones own private 50 MW substation along with two data centre facilities. The campus also provides for space, electrical capacity, and materials to continue its pursuit of growth within the existing infrastructure.

Pursuant to the MOU, HIVE would purchase 100% of the GPU Atlantic shares. The eventual purchase price is dependent on the negotiation of a definitive agreement, including a formal purchase agreement, and the completion of a satisfactory due diligence process. In connection with this Proposed Transaction, the Company has retained Canaccord Genuity Corp. to act as advisor and assist with due diligence.

We have a Monster Pick Coming. Subscribe Right Now!

Currently making a powerful move up HIVE Blockchain is trading at a fraction it did back in 2018 at BTC all-time highs with better fundamentals now. The stock is heating up as BTC looks to make all time new highs. The Company recently purchased 1,240 MicroBT WhatsMiner M30S miners with an aggregate operating hash power of 113 Petahash per second (PH/s) as it continues to expand its bitcoin mining operations. With the addition of these 1,240 MicroBT WhatsMiner M30S miners, HIVE’s aggregate operating hash rate almost doubles from 116 PH/s to 229 PH/s. The Company is in the process of acquiring Atlantic Inc. the owner of state of the art 50 MW data centre campus located in New Brunswick, Canada. The campus contains GPU.Ones own private 50 MW substation along with two data centre facilities. The campus also provides for space, electrical capacity, and materials to continue its pursuit of growth within the existing infrastructure. We will be updating on HIVE Blockchain when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with HIVE.

Sign Up now for our 100% FREE Penny Stock Newsletter

Disclosure: we hold no position in HIVE Blockchain either long or short and we have not been compensated for this article.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Sign up now for our 100% FREE Penny Stock Newsletter

Privacy Policy. we will never share your email with anyone.