Vancouver, British Columbia–(Newsfile Corp. – September 10, 2021) – HIVE Blockchain Technologies Ltd. (TSXV: HIVE) (NASDAQ: HVBT) (FSE: HBF) (the “Company” or “HIVE“) is pleased to announce that it has ordered 2,292 M30S+ premium MicroBT WhatsMiners with a total hashrate of 229 Petahash per second (PH/s), with an average efficiency of approximately 34 Watts per Terahash (W/TH). The Company notes that 229 PH/s would generate approximately 52 Bitcoin per month based on current difficulty levels.
Miner Purchase
HIVE is proud to continue its relationship with MicroBT through the purchase of 2,292 M30S+ WhatsMiner miners. These 2,292 miners will be delivered in 6 equal tranches of 382 miners during calendar 2022 commencing in July and ending in December. This will increase our global hash rate by 38.2 PH/s each delivery month.
Frank Holmes, Executive Chairman of HIVE said, “We only use green energy sourced from Geo-thermal and Hydro electricity to mine our Bitcoins, thus we do not need to buy expensive carbon credits.”
This purchase brings the total to 5,292 MicroBT miners with a total mining capacity of 523 PH/s announced just this week. We will continue our strategy to increase our Bitcoin mining capacity which includes the sourcing of mining equipment from leading industry manufacturers like MicroBT. HIVE intends to continue to utilize cash flow to make opportunistic investments and upgrade our fleet of BTC and ETH mining equipment on a regular monthly basis.
Biweekly Status Update
HIVE is also announcing that it expects to file its annual financial statements and accompanying management’s discussion and analysis for the financial year ended March 31, 2021 (collectively, the “Annual Filings”), on or before September 16, 2021. As a result of the delayed Annual Filings the Company will have a delay in the filing of its interim financial statements, management’s discussion and analysis, and the related certifications for the period ended June 30, 2021 (“Interim Filings”), which have a filing deadline of August 30, 2021. HIVE will continue to provide biweekly status updates on the delay of filing its Annual Filings and Interim Filings. This means the board and management are in a black out period and can not trade in the shares until the Annual Filings and the Interim Filings have been filed.
HIVE management confirms that it is working diligently to meet the Company’s obligations relating to its Annual Filings and that, since it announced a delay of its Annual Filings (the “Filings Notice”) there is no material change to the information set out in the Filings Notice that has not been generally disclosed and there has been no failure by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203. While subject to the MCTO, the Company will continue to comply with the provisions of the alternative information guidelines under NP 12-203 by issuing bi-weekly…
Read more:HIVE Blockchain Orders 2,292 M30S+ MicroBT High Performance Bitcoin Miners |