Cryptocurrency Stock News: HIVE Blockchain (TSX.V: HIVE) (OTCQX: HVBTF) Provides Expansion Update and New Nasdaq Ticker
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 - September 8, 2021 (Investorideas.com Newswire) HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (Nasdaq:HVBT) (FSE:HBF) (the "Company" or "HIVE") is pleased to announce provide its investors with an update on its data center construction in New Brunswick and that its Nasdaq tricker will be changing to "HIVE".
Construction is in full throttle with our Canadian expansion which will enable HIVE to deploy an additional 20MW of green and clean Bitcoin mining before the end of calendar 2021, with an additional 20MW on schedule to come online within first quarter of calendar 2022. We expect this expansion to add over 900 Petahash per second to our Bitcoin production and enable HIVE to HODL more virgin coins.
HIVE is very pleased to announce that effective Tuesday September 14, 2021, on the Nasdaq's Capital Markets Exchange that the Company's ticker will be changing from "HVBT" to "HIVE". "I am thrilled that we will make it much easier for Hive Blockchain technology investors and traders in both Canada and the US to have only one ticker. We are very thankful to NASDAQ in assisting us with acquiring the original symbol "HIVE" that relates to our name. This is important in branding and positioning our name in the minds and hearts of investors and traders as the first crypto mining company and only mining with green energy," said Mr. Frank Holmes, Executive Chairman of HIVE.
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.
Interim Executive Chairman
For further information please contact:
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.
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.
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