This news discharge comprises a “designated news release” for the reasons for the Company’s outline supplement dated February 2, 2021 to its changed and rehashed short structure base rack plan dated January 4, 2022.
Vancouver, British Columbia- – (Newsfile Corp. – April 6, 2022) – HIVE Blockchain Technologies Ltd. (TSXV: HIVE) (Nasdaq: HIVE) (FSE: HBF) (the “Company” or “HIVE”) is satisfied to declare the creation figures from the Company’s worldwide Bitcoin and Ethereum digging tasks for the period of March 2022, with a BTC HODL equilibrium of 2,568 Bitcoin and 16,196 Ethereum as of April 3, 2022. Notwithstanding this the Company is satisfied to report two achievement achievements of arriving at 2 Exahash of Bitcoin mining and 6 Terahash of Ethereum mining this month.
March 2022 Production Figures
HIVE is satisfied to declare its March 2022 creation figures and mining capacity:
278.6 BTC Produced
2.0 Exahash of Bitcoin mining capacity
2,459 ETH Produced*
4.58 Terahash of Ethereum mining limit at start of March
Increased to 6.1 Terahash of Ethereum mining limit at end of March
*The Company’s development of ETH from GPU mining (counting specific improvements of GPU hashrate) has yielded a complete ETH creation of 2,549 ETH.
Frank Holmes, Executive Chairman of HIVE expressed “We are very pleased to report HIVE has continued its extremely strong momentum in expanding our hashing power, notably our Ethereum mining hash power grew by 33% this month. In March we produced an average of 9.0 BTC per day, and we are pleased to note that as of today, we are producing approximately 9.0 BTC a day even after the recent difficulty increase of 4%. Our Bitcoin hashing power increased in March and at the calendar month-end our hashrate was 2.0 Exahash, which translated into a 6% increase in BTC mining on a month over month basis, while BTC prices corrected.”
Aydin Kilic, President and COO of HIVE noted “We continue to strive for operational excellence, ensuring that as we scale our hashrate as a company we also optimize our uptime, to ensure ideal Bitcoin and Ethereum output figures.” Mr. Kilic proceeded, “We also would like to provide an update on the BTC and ETH equivalency, where one can equate value of the coins produced daily. As such the ETH that HIVE produced during the month of March, equated daily, is approximately equal to a monthly total of 168.8 BTC, which we refer to as Bitcoin equivalent or BTC equivalent. This is in addition to the 278.6 BTC produced from our Bitcoin mining operations during March, for a total of 447.4 Bitcoin equivalent”.
The Company’s all out Bitcoin identical creation in March 2022 was:
447.4 BTC Equivalent Produced
14.4 BTC Equivalent delivered each day on average
3.3 Exahash of BTC Equivalent Hashrate (BTC hashrate in addition to comparable ETH Hashrate as of March 31, 2022)
1 Year Ahead Hashrate Growth Outlook
HIVE is satisfied to refresh the market on the Company’s development plans for the year ahead, because of key drives to get ASIC and GPU equipment. The diagram beneath presents the hashrate for all contracted ASIC and GPU equipment (with stores set up), with the dim blue bars addressing BTC hashrate, and the light blue bars addressing the extra BTC comparable hashrate from the ETH GPU hashrate. The numbers at the top are the consolidated all out BTC identical hashrate communicated in Exahash. The Company will be at 6.2 Exahash of BTC comparable hashrate in one year, up from 3.3 Exahash of BTC identical hashrate today.
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Ethereum HODL to Fund Intel New Chips to Mine BTC
Over the previous year our Ethereum HODL position outflanked our Bitcoin HODL. ETH is substantially more unstable than BTC and by and by we have utilized the instability to produce money to grow our tasks. We have offered down our ETH property to support our Intel vital relationship and the structure of our apparatuses. We are exceptionally excited about the Intel bargain for quite a long time and because of the more prominent instability of ETH we have exchanged out roughly 10,000 ETH coins to subsidize the extension in our BTC channel. Further we have extended our everyday ETH creation to supplant coins we have sold. Our drawn out procedure is become our BTC impression while utilizing our ETH to assist with this desire. Our ETH creation is permitting us to produce the most noteworthy edges from confirmation of work in the business. We are not worried about the long term account that ETH will turn out to be just confirmation of stake in the short term, as proven by the powerful and secure evidence of work agreement component has assisted ETH with handling more exchanges in USD volume at $11.4 trillion US, where Visa has done $10.4 trillion US in 2021. Our methodology to mine both BTC and ETH has permitted HIVE to create the absolute best yields on contributed capital for our investors while growing our income and coin production.
Recently Intel has distributed more points of interest on presentation of the Intel Blockscale ASIC, a game changing occasion for BTC excavators. Intel has just made this chip accessible to choose clients, of which Hive Blockchain is one of four clients internationally. The Intel Blockscale will propel energy proficient hashing for evidence of work agreement utilizing efficient power energy. Further their US planned high performing chips really depend on 26 J/TH power effectiveness at an extremely cutthroat and appealing value that squeezes into our procedure to produce significant yields on contributed capital for our investors. Hive Blockchain partakes in the manageability objectives that are critical to both Intel and ESG centered investors.
Network Mining Difficulty
The Bitcoin network trouble expanded as much as 4% and likewise the Ethereum network trouble expanded as much as 2% during the period of March. These elements sway our net benefit margins.
About HIVE Blockchain Technologies Ltd.
HIVE Blockchain Technologies Ltd. opened up to the world in 2017 as the main cryptographic money mining organization with an efficient power energy and ESG strategy.
HIVE is a development arranged innovation stock in the new blockchain industry. As an organization whose offers exchange on a significant stock trade, we are building an extension between the computerized cash and blockchain area and conventional capital business sectors. HIVE possesses cutting edge, efficient power energy-fueled server farm offices in Canada, Sweden, and Iceland, where we source just environmentally friendly power energy to mine on the cloud and HODL both Ethereum and Bitcoin. Since the start of 2021, HIVE has held in secure capacity most of its ETH and BTC coin mining rewards. Our portions furnish financial backers with openness to the working edges of advanced money mining, as well as an arrangement of digital currencies like ETH and BTC. Since HIVE likewise possesses hard resources, for example, server farms and progressed multi-use servers, we accept our portions offer financial backers an appealing method for acquiring openness to the cryptographic money space.
We urge you to visit HIVE’s YouTube channel here to dive deeper into HIVE.
On Behalf of HIVE Blockchain Technologies Ltd.
For additional data please contact:
Tel: (604) 664-1078
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is characterized in approaches of the TSX Venture Exchange) acknowledges liability regarding the ampleness or precision of this news release.
Except for the assertions of verifiable truth, this news discharge contains “forward-looking information” inside the significance of the material Canadian protections regulation that depends on assumptions, assessments and projections as at the date of this news discharge. “Forward-looking information” in this news discharge incorporates, however isn’t restricted to, business objectives and targets of the Company; and other forward-looking data concerning the aims, plans and future activities of the gatherings to the exchanges depicted thus and the terms thereon.
Factors that could make genuine outcomes contrast physically from those portrayed in such forward-looking data incorporate, yet are not restricted to, the unpredictability of the computerized money market; the Company’s capacity to effectively mine advanced cash; the Company will be unable to productively sell its present computerized money stock as required, or by any stretch of the imagination; a material decrease in advanced money costs might contrarily affect the Company’s tasks; the instability of computerized cash costs; proceeded with impacts of the COVID-19 pandemic might affect the Company’s presentation as supply chains are upset and keep the Company from completing its development designs or working its resources; and other related gambles as more completely set out in the enrollment articulation of Company and different reports unveiled under the Company’s filings at www.sec.gov/EDGAR and www.sedar.com.
The forward-looking data in this news discharge mirrors this assumptions, suspicions and additionally convictions of the Company in light of data right now accessible to the Company. Regarding the forward-looking data contained in this news discharge, the Company has made suppositions about the Company’s targets, objectives or tentative arrangements, the circumstance thereof and related matters. The Company has likewise accepted that no huge occasions happen outside of the Company’s ordinary course of business. Albeit the Company accepts that the suspicions inborn in the forward-looking data are sensible, forward-looking data isn’t an assurance of future execution and in like manner unnecessary dependence ought not be placed on such data because of the innate vulnerability therein.
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