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HIVE Blockchain Technologies Ltd. (HVBTF)
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February 25, 2021
HIVE Blockchain Confirms the Acquisition of a 50 MW Data Centre With The Signing Of Definitive Agreement With GPU.ONE
This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated February 2, 2021 to its short form base shelf prospectus dated January 27, 2021.
Vancouver, Canada – HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (OTCQX:HVBTF) (FSE:HBF) (the “Company” or “HIVE”) is excited to announce that it has signed a Share Purchase Agreement with GPU.One Holding Inc. (“GPU One”), to expand HIVE’s Canadian footprint through the purchase of 100% of the shares of GPU Atlantic Inc. (“GPU Atlantic”) (see “About GPU Atlantic Inc.” below). This acquisition will build long term assets on our balance sheet and complements our ESG strategy to only mine coins on the cloud from sources of low-cost surplus green energy. Further, GPU One key management with many years of deep data centre experiences will be joining the HIVE team.
With this acquisition HIVE, through its subsidiary GPU Atlantic, will be the owner of a 50 megawatt (“MW”) substation and a data centre campus in Grand Falls, New Brunswick, with a dedicated cryptocurrency mining operation with access to 50 MW of low-cost green power, for a total purchase price of approximately C$25.0 million (the "Acquisition"). Pursuant to the Agreement, HIVE will satisfy the purchase price through the issuance of 4,600,000 common shares ("HIVE Shares") to GPU One and 400,000 HIVE Shares to GPU One’s minority partner, at a deemed price of C$5.00 per HIVE Share. Of the 4,600,000 HIVE Shares to be issued to GPU One pursuant to the Acquisition, 1,000,000 HIVE shares will be allocated to a holdback and earn-out to GPU One upon delivery of certain earn-out conditions.
"This is an important strategic acquisition for HIVE that diversifies our business significantly and adds one of the industry’s top data centre operators to our ranks, at an opportune time, and at an attractive valuation for our shareholders," said Frank Holmes, Executive Chairman of HIVE. "The Acquisition provides us with full ownership of a state of the art and operational Bitcoin mining data centre ready to deploy our incoming next generation bitcoin mining hardware with access to some of the lowest electricity costs in the industry.
"Additionally, this Acquisition further enables HIVE to continue in its objective of having control of its destiny, including significant capacity for expansion and flexibility for our future operations. We now have a 50 MW data center campus to build up and a home for our new generation Bitcoin miners. We are also very excited about integrating new members of the GPU One team into our ranks and deploying their in-house mining management software into our operations on a global scale," added Mr. Holmes.
The Acquisition will again more than double HIVE's total available power capacity globally to approximately 100 MW, placing it among the largest of any publicly-listed cryptocurrency miners, and provide significant diversification to the Company's business both geographically and by blockchain network.
The fully operational, state-of-the-art facility features a 50 MW substation, two fully operational data centre buildings offering a combined 30 MW of ready-to-plug space, electrical infrastructure that is unique to cryptocurrency mining, and a highly skilled technical team of executive and operational staff. Due to the facility's low electricity prices, our miners are expected to generate positive gross mining margins under current market conditions.
The Acquisition has been approved by HIVE's Board of Directors and the board of directors and the shareholders of GPU One, and its minority shareholder, and remains subject to customary closing conditions including receipt of regulatory approvals. The Acquisition is expected to close in the next three weeks.
HIVE is currently one of the world's largest public miners on the Ethereum blockchain and this acquisition places HIVE among the world's larger publicly-listed miners of Bitcoin. The newly acquired Bitcoin mining facility in New Brunswick diversifies the Company's existing portfolio, which includes a facility in Quebec, and Ethereum-focused GPU mining operations in Sweden and Iceland.
HIVE Blockchain Confirms the Acquisition of a 50 MW Data Centre With The Signing Of Definitive Agreement With GPU.ONE. This acquisition will build long term assets on our balance sheet and complements our ESG strategy to only mine coins on the cloud from sources of low-cost surplus green energy. Further, GPU One key management with many years of deep data centre experiences will be joining the HIVE team.
IMO, the price next week is going to be around USD $6... maybe USD $7... but then again, since I've been here all along through the worst of it, I see a double + from here on out…. somewhere along the way between 3/3 and 6/3 the price will make most say I should have bought at the end of February... and if you're a day trader, the March, April and May calls and puts are the same tea leaves for everyone, so some of the longs will be following and know and act accordingly...
There's still a few days left for OE so just sit tight....
You see, the macro hasn't changed nor is it going to... and what's the macro? Well, inflation is here... and although it always begins with a little deflation... it’s about to hit… just like the water with a tidal wave… everything gets calm... and then the water starts to head out from the shoreline... and then 5...4...3.. wham!!
TPTB need to keep everyone calm and at the proverbial table... the economic recovery in the US isn't what its claimed to be... the car lines for food in the US are the modern snap shot of the Great Depression that occurred in the earlier part of the 20th Century... downtown Austin Texas has become Tent City... Modern Monetary Theory is incorrect… the EU is a powder keg...
... and there will be more terror, frustration, bewilderment and despair brought to you by and through your favorite media outlet... and at the highest CPM they can get... and the entire failed elected leadership will continue to serve their interests while the children, the sick and the elderly become second class beings... some of them your family... some friends...
So what does HIVE represent? For me, a chance to have something better... I do not believe that crypto will become mainstream for a few years yet and that the key underlying issues lay in the balance of the problem being that a store of value and a means of exchange are two very different things... and while BTC is incredible as a store of value, ETH 2.0 is not yet providing the delivery system or method of exchange (medium and means) vital for people to entirely survive outside of our existing FIAT ecosystem…
… and although the BTC maximalists are although very present in social media, they still fail in offering an overall, comprehensive, working system… they are still the same kind of WS a’s s wypes that have always existed only for their own greed. And as for the ETH, DeFi, Altcoiners, they miss the most basic underlying key principle… service and utility to the masses… everything else is horse puckey...
FH has always been correct in saying that HIVE is a proxy for crypto... I recognized it over 3+ years ago... and to the longs and those looking to get ahead, the shorts and the traders are still the same old story as before... there's nothing new with them or to them... but HIVE, barring management doing something really stupid or some type of incident through Force Majeure, will continue to generate both what the marketplace considers the best store of value and the best means/medium for exchange… BTC and ETH… and will continue to do so profitably…
... the monies one can make can be used to buy property or the actual underlying assets mined, ETH and BTC, and can help set any investor up for a good, secure and safe future...
And lastly, the options mentioned in last evening's press failed to mention the name of the board member who'll be receiving them but that's a sizable offering for a board member... I'd be willing to bet its a new board member and one whose name carries some heft... wouldn't it be great if HIVE got someone like Mark Cuban on the BoD? I'm not saying it is but it's still fun to daydream a bit…
Just my USD $.02...
Shoutout to my man weedfather for the FH interview link on Kitco very informative. The recent press releases are evident that there’s a long term strategy in play that benefits shareholders greatly. We already have a strong position in the market. The new miners are just adding to our bottom line while minimally affecting our top line. I think we will surpass the 2000ph goal by years end. It’s also evident that we are slowly taking the lead in the space. Our largest competitors are not profitable even after dilution. I can’t stress holding this company for longer term. This is a good inflection point for the company and the chart going parabolic is in its early stages. Many more institutions will come out after Q1 to publicly by BTC. I’m in the 100k by July camp. I have $240k and $12-16k years end targets for that and ETH. US pricing of course. You hear talks of this being “super cycle” and it could be. Even if it is they will at some point crash it over 40%-50% to really shake us out and I plan on exiting before that happens. This being the second major correction in this bull run during the 4th I’ll tighten my stop losses to lock in massive gains. Imho it’s something to consider for us all.
I've never bought a stock and then have so much positive news come out. One thirty six percent increase in processing power.
Then Three thousand new mining machines. This Ceo is really good this company creates its own destiny, brilliant or extremely lucky. I'm going with brilliant.
I see some skepticism with HIVE when it comes to proof of stake ETH 2.0.
First of all Hive do mine BTC with expansion expected (1763 PH/s) by end of 2021, target is 2000PH/s, so we are good in terms of BTC revenue share for HIVE.
Secondly, ETH Proof of work will stay until 2021(At least), so Mining engines will run on all cylinders. And, as we speak HIVE upgrading there GPU capacity from 4GB-8GB, if that was a risk then why would HIVE (Frank H) even consider upgrading ETH minnings GPUs?
Third, Hive has state of the art Facility for Minning Rigs and huge capacity in 3 continents, they can even use the facility to Stake there own ETH, use it as Cloud Blockchain services, use it as cloud staking pool, Altcoins etc,
Last and most important, Never forget Hive is 100% green power, cheap KWH cost compared with other miners, Generated heat from Minning GPUS are been utilized as green farming. This its self is a huge deal. I dont think any company including Tesla Or Apple is 100% green? its a Free marketing and lots of Hedge fund investors at the gate!!! :)
5 Bullish Quick Updates:
1. Hive adds 9000 miners in back to back press releases (6000 in 2021 + 3000 in next 60 days!)
2. First public comments from FH about New Brunswick GPU1 deal
3. Holding of coins mined 2021
4. Cash and assets on hand will be over $100M by end of month
5. With debentures AND shelf, they have access to over $200M in self funding without outside assistance.
So, what’s next for HIVE? Let’s wait for next weeks results!
Ain't complaining about a 9% increase. As long as we're in the green, we're making money. Keep holding folks, HIVE is about to pop off. The scary part is, we're still building the spaceship. We haven't even launched yet. Once we do, we're going so far in space we'll be partying with the aliens.
I've been reading this board nearly from its beginnings. The recent optimism is extremely high right now. Be prepared for volatility twists and turns ahead. I'm prepared to hold through several more quarterly reports. Just saying This sector is risky and to expect the unexpected. Be aware thatToo much optimism can lead one to disappoint.
With the 2 recent news releases of purchase of miners, this should be way ahead of other miners today!
I trimmed 25% of my holdings last week to rebalance. I had a cos of .$41 and got out at $6.82. 1600% gain. Thank you Hive! Still holding 75000. Let's go!
Hive is down 3.5% in frankfurt. yes low volume but still inexplicable considering the last 3 days announcements.
Ethereum, Bitcoin, take huge price hits; should you be worried? Frank Holmes gives analysis
At this pace, even marginal miners will eventually get into the money. I might download the mining app, tack a shingle on the door and go into business myself. I’ll need a secretary, maybe a CFO or two. Jokes aside March 3rd will determine if Hive is the leader. All miners will benefit from the parabolic move in crypto. Right now my money is on Hive, until it isn’t.
February 23, 2021
HIVE Blockchain Expands Bitcoin Mining Capacity by 36% With Purchase of 6,000 Next Generation Miners to Increase Future Operations to 1,673 PH/s
Vancouver, Canada – HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (OTCQX:HVBTF) (FSE: HBF) (the “Company” or “HIVE”) is excited to announce that it has made a large step towards its updated 2021 ASIC capacity goal of 2,000 Petahash per second (PH/s) with the purchase of 6,000 next generation miners with an aggregate operating hash power of 444 PH/s.
With the addition of these 6,000 next generation miners, HIVE’s aggregate operating hash rate from Bitcoin mining will increase to an estimated 1.673 Exahash per second (EH/s) or 1,673 PH/s by the end of 2021.
Based on the order that has been placed, this new equipment is expected to be received and in operation in the next 6 months, delivered in 2 tranches, with 3,000 miners in each of July, and August 2021.
This expansion will be for our operations in Canada and Iceland and are crucial key steps to take us over 2,000 PH/s of Bitcoin mining capacity using green energy by the end of 2021.
As we have mentioned before, the COVID-19 pandemic continues to impact logistics and the supply of miners from Asia. Today’s announcement is part of our continuing strategy to increase our bitcoin mining capacity. HIVE intends to continue utilizing cash flow to make opportunistic investments in ASIC and GPU next generation mining equipment that can provide positive gross mining margins.
Chinese New Year is over and we are now expecting an increase in shipments of new GPU’s with 8 gigabyte memory cards to accelerate, which should improve our Ethereum production.
Our liquidity remains healthy with cash and coins valued over USD $65 million.
so I own hive, but I just lost 1200 in another stock. I'm thinking of taking the rest of my money and putting it here. What do you all think?
Correct me if I am getting this wrong? I am holding this stock because they mine etherium and also has exposure to Bitcoin. I personally think Bitcoin is past and etherium is the future. reason being, Bitcoin is hard to mine anymore compare to eherium, PLUS financial institutions will be able use etherium for lending purpose, and not Bitcoin? My dream is, 10 to 12 year down the road, etherium will become the new norm, and so HIVE being one of the primary producers of etherium will go up in value. maybe dreaming too much, but if banks adopt to etherium lending, I won't be surprise if HIVE becomes the next shopify! anyone on the same page with me?
Drifting up on light volume. Still a good sign. Little sideways action won’t hurt. Volatility will need to get tight like it did in that $2.50-$2.56US range right before it popped. Out of all the miners hive us trading the most rationally and predictable as far as TA. I likes it I likes it a lot.
insanely profitable right now, remember guys eth miners get paid more when the network is full, the recent volitility actually made us more coins than usual as there has been even more trading on the platform!
This is like my 3-4th consolidation on this stock, the board sentiment changes dramatically. Good thing that every time we seem to gain more and more diamond hands.
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