HIVE Blockchain Completes Acquisition of Green Energy 50 MW Data Centre in New Brunswick with Potential to Grow to 80 MW

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This information launch constitutes a “designated information launch” for the needs of the Firm’s prospectus complement dated February 2, 2021 to its quick kind base shelf prospectus dated January 27, 2021.

VANCOUVER, BC / ACCESSWIRE / April 19, 2021 / HIVE Blockchain Applied sciences Ltd. (TSX.V:HIVE)(OTCQX:HVBTF)(FSE:HBF) (the “Firm” or “HIVE”) is happy to announce that it has accomplished its beforehand introduced acquisition of a 50 megawatt (“MW”) knowledge centre campus in New Brunswick (the “Campus”) from GPU.One Holding Inc. (“GPU One”), to broaden HIVE’s Canadian footprint. This acquisition will construct long run belongings on our steadiness sheet and enhances our ESG technique to solely mine cash on the cloud from sources of low-cost surplus inexperienced vitality. Additional, GPU One key administration with a few years of deep knowledge centre experiences will likely be becoming a member of the HIVE crew.

Ethereum

Ethereum continues to be very sturdy in value with many demand drivers like the expansion in Secure cash, Decentralized Finance (“DeFi”) and non-fungible tokens (“NFT’s”). The bonus, or extra transaction, charges earned had been distinctive final quarter like final summer season. We proceed to improve our reminiscence playing cards from 4 gigabyte (“GB”) to eight GB reminiscence playing cards and have skilled delays in receiving gear from China as anticipated. We now have been utilizing the 4 GB playing cards to mine Ethereum Basic which could be very worthwhile.

Knowledge Centre Acquisition

With this acquisition HIVE, by way of its subsidiary HIVE Atlantic Datacentres Ltd. (previously “GPU Atlantic Inc.”), is the proprietor of a 50 MW substation and an information centre campus in Grand Falls, New Brunswick, with a devoted cryptocurrency mining operation with entry to 50 MW of low-cost inexperienced energy, for a complete buy value of roughly C$25.0 million (the “Acquisition”). Pursuant to the Settlement, HIVE is satisfying the acquisition value by way of the issuance of 4,600,000 frequent shares (“HIVE Shares”) to GPU One and 400,000 HIVE Shares to GPU One’s minority accomplice, at a deemed value 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 likely be allotted to a holdback and earn-out to GPU One upon supply of sure earn-out circumstances.

Story continues

The Acquisition will once more greater than double HIVE’s whole obtainable energy capability globally to roughly 100 MW, inserting it among the many largest of any publicly-listed cryptocurrency miners, and supply vital diversification to the Firm’s enterprise each geographically and by blockchain community.

The absolutely operational, state-of-the-art facility includes a 50 MW substation, two absolutely operational knowledge centre buildings providing a mixed 30 MW of ready-to-plug area, electrical infrastructure that’s distinctive to cryptocurrency mining, and a extremely expert technical crew of govt and operational workers. Because of the facility’s low electrical energy costs, our miners are anticipated to generate optimistic gross mining margins underneath present market circumstances.

HIVE is at the moment one of many world’s largest public miners on the Ethereum blockchain and this Acquisition locations HIVE among the many world’s bigger publicly-listed miners of Bitcoin. The newly acquired Bitcoin mining facility in New Brunswick diversifies the Firm’s present portfolio, which features a facility in Quebec, and Ethereum-focused GPU mining operations in Sweden and Iceland.

About GPU Atlantic Inc.

GPU Atlantic Inc. has lately constructed a brand new and cutting-edge 50 MW knowledge centre campus situated in New Brunswick, Canada. The campus comprises its personal non-public 50 MW substation together with two absolutely operational knowledge centre services able to host as much as 30 MW of HIVE’s new era mining gear. The campus additionally supplies for area, electrical capability, and supplies to proceed its pursuit of development inside the present infrastructure with a 3rd knowledge centre constructing with a capability of 20 MW deliberate for supply and prepared for occupancy in calendar Q3 2021. GPU Atlantic’s in-house software program is forward of the competitors and supplies seamless and distant management of its services and mining gear underneath administration.

HODL is rising

We now have continued to mine and financial institution each Bitcoin and Ethereum and our stock has expanded to US$75 million as of shut on Friday. The vast majority of our crypto belongings being Ethereum.

Ethereum Basic

We began mining Ethereum Basic towards earlier than the costs surged from US$20 to US$40 a coin as a result of they’re very worthwhile with a brief payback. The dimensions is small however very worthwhile. We now have chosen to mine and promote these cash to help in protecting electrical energy and fundamental normal & administrative prices whereas saving in chilly wallets our Bitcoin and Ethereum manufacturing.

Supply: https://coinmarketcap.com/currencies/ethereum-classic/

Money and coin belongings are roughly US$105 million

About HIVE Blockchain Applied sciences Ltd.

HIVE Blockchain Applied sciences Ltd. is a development oriented, TSX.V-listed firm constructing a bridge from the blockchain sector to conventional capital markets. HIVE owns state-of-the-art inexperienced energy-powered knowledge centre services in Canada, Sweden, and Iceland which produce newly minted digital currencies like Bitcoin and Ethereum constantly on the cloud. Our deployments present shareholders with publicity to the working margins of digital forex mining in addition to a portfolio of crypto-coins.

For extra info and to register to HIVE’s mailing checklist, please go to www.HIVEblockchain.com. Observe @HIVEblockchain on Twitter and subscribe to HIVE’s YouTube channel.

On Behalf of HIVE Blockchain Applied sciences Ltd.

“Frank Holmes”Government Chairman

For additional info please contact:Frank HolmesTel: (604) 664-1078

Neither the TSX Enterprise Change nor its Regulation Providers Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Change) accepts duty for the adequacy or accuracy of this information launch.

Ahead-Trying Info

Aside from the statements of historic reality, this information launch comprises “forward-looking info” inside the which means of the relevant Canadian securities laws that’s based mostly on expectations, estimates and projections as on the date of this information launch. “Ahead-looking info” on this information launch consists of details about the plans for internet hosting HIVE’s new era mining gear on the Campus, plans for future growth on the Campus, potential additional enhancements to profitability and effectivity throughout mining operations, potential for the Firm’s long-term development, and the enterprise targets and goals of the Firm.

Components that might trigger precise outcomes to vary materially from these described in such forward-looking info embody, however should not restricted to, the internet hosting of the Firm’s new era mining gear on the Campus could not occur on the capability the Firm has deliberate or in any respect; the growth of the info centres on the Campus could not occur inside the time-frame anticipated or in any respect; the Acquisition could not have a optimistic impression on the Firm’s profitability; continued results of the COVID-19 pandemic could have a cloth hostile impact on the Firm’s efficiency as provide chains are disrupted and stop the Firm from working its belongings; a lower in cryptocurrency pricing, quantity of transaction exercise or typically, the profitability of cryptocurrency mining; additional enhancements to profitability and effectivity is probably not realized; the digital forex market; the Firm’s skill to efficiently mine digital forex on the cloud; the Firm could not have the ability to profitably liquidate its present digital forex stock, or in any respect; a decline in digital forex costs could have a major damaging impression on the Firm’s operations; the volatility of digital forex costs; and different associated dangers as extra absolutely set out within the Submitting Assertion of the Firm and different paperwork disclosed underneath the Firm’s filings at www.sedar.com.

The forward-looking info on this information launch displays the present expectations, assumptions and/or beliefs of the Firm based mostly on info at the moment obtainable to the Firm. In reference to the forward-looking info contained on this information launch, the Firm has made assumptions about: the present profitability in mining cryptocurrency (together with pricing and quantity of present transaction exercise); worthwhile use of the Firm’s belongings going ahead; the Firm’s skill to profitably liquidate its digital forex stock as required; historic costs of digital currencies and the flexibility of the Firm to mine digital currencies on the cloud will likely be per historic costs; and there will likely be no regulation or legislation that can forestall the Firm from working its enterprise. The Firm has additionally assumed that no vital occasions happen exterior of the Firm’s regular course of enterprise. Though the Firm believes that the assumptions inherent within the forward-looking info are affordable, forward-looking info just isn’t a assure of future efficiency and accordingly undue reliance shouldn’t be placed on such info as a result of inherent uncertainty therein.

SOURCE: Hive Blockchain Applied sciences Ltd

View supply model on accesswire.com: https://www.accesswire.com/641034/HIVE-Blockchain-Completes-Acquisition-of-Green-Energy-50-MW-Data-Centre-in-New-Brunswick-with-Potential-to-Grow-to-80-MW

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