Source: Midas Letter
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • HIVE Blockchain’s (HIVE) global operations are producing an operational hash rate of 1.675 EH/s from its Bitcoin and Ethereum operations
  • HIVE is generating a daily income of $550,000, which translates to an annual run rate of $200 million
  • HIVE has purchased 4,000 next-generation miners with an aggregate operating hash power of 272 PH/s
  • The company projects a tripling of their operational Bitcoin mining rate by the end of the calendar year 2021
  • HIVE Blockchain Technologies is a growth-oriented technology company in the emergent blockchain industry
  • Hive Blockchain Technologies Ltd. (HIVE) is down 3.05 per cent, trading at C$2.86 per share at 1:15 pm ET

HIVE Blockchain’s (HIVE) global operations are producing an operational hash rate of 1.675 EH/s from its Bitcoin and Ethereum operations.

Based on current Ethereum and Bitcoin prices, the company is generating a daily income of $550,000, which translates to an annual run rate of $200 million.

The estimated annual run rate operating and overhead costs are $25 million.

In addition, HIVE has purchased 4,000 next-generation miners with an aggregate operating hash power of 272 PH/s.

With the addition of the 3,019 high-performance Bitcoin miners, HIVE currently has a total bitcoin operating hash rate of 925 Petahash per second (PH/s). The company projects a tripling of their operational Bitcoin mining rate by the end of the calendar year 2021.

The company’s Ethereum production operating hash rate is 3,383 Gigahash per second (GH/s). 

The new miners are expected to be delivered and operational within the next 60 days, delivered in 2 tranches, with 2,000 miners in August, and another 2,000 miners in September 2021.

“This strategic purchase of equipment was realized as a result of the very strong relationships that our team have with the leading manufacturers in the ASIC miner space.” Frank Holmes, Executive Chairman of HIVE continued,

“This transaction is part of our continuous momentum that we have for steady and controlled growth to be the leading clean and green miner in our industry.”

HIVE Blockchain Technologies is a growth-oriented technology company in the emergent blockchain industry.

Hive Blockchain Technologies Ltd. (HIVE) is down 3.05 per cent, trading at C$2.86 per share at 1:15 pm ET.

More From The Market Herald
DeFi Technologies - Valour CEO, Tommy Fransson.

" DeFi Technologies (NEO:DEFI) subsidiary launches crypto funds

DeFi Technologies (DEFI) subsidiary Valour has launched two new crypto funds.
BIGG Digital Assets - Netcoins CEO, Mark Binns.

" BIGG Digital Assets (CSE:BIGG) subsidiary Netcoins launches nine new digital assets

BIGG Digital Assets’ (BIGG) Netcoins exchange is offering nine new digital assets.

" GlobalBlock (TSXV:BLOK) completes transition of digital asset brokerage business to EU

GlobalBlock Digital Asset Trading Limited (BLOK) has announced that its subsidiary GlobalBlock Europe is operationally ready.

" DMG Blcokchain (TSXV:DMGI) granted crypto patent

DMG Blockchain Solutions Inc. (DMGI) has been issued a patent by none other than the US Patent and Trademark Office.