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Wednesday, May 18, 2022

Hive Blockchain [NASDAQ: HVBT] Purchases 3,019 High-Performance Bitcoin Miners

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Hive Blockchain Technologies Ltd. Common Shares [NASDAQ: HVBT] has disclosed on Monday that its Bitcoin operating hash rate touched 46% after the firm has decided to buy an immediate hashing of 3,019 MicroBT WhatsMiner M30S dedicated mining computers, or “miners”.

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It has been declared that these new machines have an aggregate hash power of 264 Petahash per second (PH/s). The incorporation of these miners into HIVE’s systems will be instant upon closure. This purchase has displayed the next-generation miner expansion. Moreover, with the addition of these 3,019 MicroBT M30S miners, HIVE’s aggregate operating hash rate reached from roughly 566 PH/s to 830 PH/s.

Furthermore, these latest miners will produce an additional US$80,000 in daily income. Bitcoin continues to have a daily fluctuation in the prices of plus or minus 6%. So, investors should be aware of these fluctuations. The miners to be bought in the deal are already situated on the site at HIVE’s facilities in Lachute, Quebec, and Grand Falls, New Brunswick.

Additionally, the miners are being bought from Foundry Digital LLC. It is a fully owned business unit of the Digital Currency Group (DCG) concentrating on digital assets’ mining and staking. As part of the collaboration, HIVE will give its Bitcoin hash power to Foundry USA Pool going forward. Its other main clients include Blockcap, Hut8, Bitfarms, and Foundry itself, among others.

Financial Details

As payment for the sale of the miners, Foundry will be released cash and 1.5 million warrants of the firm. It will be dependent on regulatory clearance. Hence, each full warrant will enable the proprietor to buy one common share for C$3.11 for a period of 2 years. Moreover, this new manufacturing will rapidly speed up structuring up its Bitcoin reserves.

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