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HIVE Blockchain Technologies Ltd. (NASDAQ: HVBT) is excited to announce the purchase and immediate hashing of 3,019 MicroBT WhatsMiner M30S dedicated mining computers, or “miners”.
These new machines have an aggregate hash power of 264 Petahash per second (PH/s). The integration of these miners into HIVE’s systems will be immediate upon closing and will increase HIVE’s overall Bitcoin operating hashrate by approximately 46%.
Next Generation Miner Expansion
With the addition of these 3,019 MicroBT M30S miners, HIVE’s aggregate operating hash rate increases from approximately 566 PH/s to 830 PH/s. At the current difficulty and Bitcoin price these purchased miners will generate an additional US$80,000 in daily income. Bitcoin continues to have a daily volatility of plus or minus 6% and investors need to be aware of this volatility.
The miners to be acquired in the transaction are already located onsite at HIVE’s facilities in Lachute, Quebec and Grand Falls, New Brunswick. The miners are being purchased from Foundry Digital LLC (“Foundry”), a wholly owned subsidiary of the Digital Currency Group (DCG) focussed on digital assets’ mining and staking. As part of the partnership, HIVE will contribute its Bitcoin hashpower to Foundry USA Pool going forward, whose other major customers include Blockcap, Hut8, Bitfarms and Foundry itself, among others.