Cryptocurrency Stock News: HIVE (TSX.V: HIVE) (OTCQX: HVBTF) Joins NVIDIA Partner Network and Grows Professional GPU Footprint with US$66 Million Purchase
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 - July 1, 2021 (Investorideas.com Newswire) HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (OTCQX:HVBTF) (FSE:HBF) (the "Company" or "HIVE") is happy to announce that it has joined the NVIDIA Partner Network (the "NPN") Cloud Service Provider program and entered into purchase agreements for NVIDIA GPU's with a total contract value of more than US$66 million.
NVIDIA Partner Network
Joining the NPN program is a significant step towards HIVE's growth strategy and its future plans to expand into Enterprise Cloud services focused on High Performance Computing ("HPC") workloads. Acceptance into the NTN program provides the Company with access to NVIDIA's ecosystem, partners, customers and deep industry expertise. These benefits will enable HIVE to transition towards Enterprise Cloud seamlessly by leveraging NVIDIA's technical leadership.
Data Center Grade GPU Cards
HIVE has committed to purchase NVIDIA GPU's with a total contract value of over US$66 million. These cards will be delivered over the remaining months of calendar 2021 with deliveries arriving each month. "HIVE has always had the ability to change course when required since being the first blockchain company to go public in 2017", said Frank Holmes, Executive Chairman of HIVE. Frank continued, "Our investment in NVIDIA GPU's strengthens HIVE's to remain nimble and gives us the power to pivot in this ever changing and dynamic industry."
About HIVE Blockchain Technologies Ltd.
HIVE Blockchain Technologies Ltd. went public in 2017 as the first cryptocurrency mining company with a green energy and ESG strategy. We are listed on the TSX.V exchange and our shares will soon trade on the Nasdaq's Capital Markets Exchange.
HIVE is a growth-oriented technology stock in the emergent blockchain industry. As a company whose shares trade on a major stock exchange, we are building a bridge between the digital currency and blockchain sector and traditional capital markets. HIVE owns state-of-the-art, green energy-powered data centre facilities in Canada, Sweden, and Iceland, where we source only green energy to mine on the cloud and HODL both Ethereum and Bitcoin. Since the beginning of 2021, HIVE has held in secure storage the majority of its ETH and BTC coin production. Our shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of crypto-coins such as ETH and BTC. Because HIVE also owns hard assets in diverse locations and is able to pivot from mining one cryptocurrency to another, our shares may represent a safer cryptocurrency play as compared with direct ownership of a given cryptocurrency. HIVE traded over 2 billion shares in 2020.
We encourage you to visit HIVE's YouTube channel here to learn more about HIVE.
For more information and to register to HIVE's mailing list, please visit www.HIVEblockchain.com. Follow @HIVEblockchain on Twitter and subscribe to HIVE's YouTube channel.
On Behalf Of HIVE Blockchain Technologies Ltd.
"Frank Holmes"
Interim Executive Chairman
For further information please contact:
Frank Holmes
Tel: (604) 664-1078
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Information
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the purchase of 6,000 next generation miners, including the expected delivery, operation and increase in operating hash rate from Bitcoin mining; the achievement of an aggregate operating hash power of 2,000 PH/s by the end of calendar 2021; the continued effects of the COVID-19 pandemic on logistics and the supply of miners from Asia; the continued utilization of cash flow to make opportunistic investments in next generation mining equipment that can provide positive gross mining margins; potential further improvements to profitability and efficiency across mining operations, potential for the Company's long-term growth, and the business goals and objectives of the Company.
Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the newly purchased 6,000 next generation miners may not be delivered or operation in the timeframe currently anticipated, or may not have a positive impact on the Company's profitability; the Company may not achieve an aggregate operating hash power of 2,000 PH/s in the timeframe currently anticipated, or at all; continued effects of the COVID-19 pandemic may have a material adverse effect on the Company's performance as supply chains are disrupted and prevent the Company from operating its assets; a decrease in cryptocurrency pricing, volume of transaction activity or generally, the profitability of cryptocurrency mining; further improvements to profitability and efficiency may not be realized; the digital currency market; the Company's ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company's operations; the volatility of digital currency prices; and other related risks as more fully set out in the Filing Statement of the Company and other documents disclosed under the Company's filings at www.sedar.com.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the current profitability in mining cryptocurrency (including pricing and volume of current transaction activity); profitable use of the Company's assets going forward; the Company's ability to profitably liquidate its digital currency inventory as required; historical prices of digital currencies and the ability of the Company to mine digital currencies will be consistent with historical prices; and there will be no regulation or law that will prevent the Company from operating its business. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
More Info:
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.
More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/
Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp
