HIVE Blockchain Doubles Global Mining Capacity with Acquisition of 30 MW Bitcoin Operation in Canada
On March 30, 2020 HIVE Blockchain Technologies Ltd. (the “Company” or “HIVE”) announced that it had has signed a definitive agreement to acquire a dedicated cryptocurrency mining operation with access to 30 megawatts of low cost green power at a leased facility located in Lachute, Quebec from Cryptologic Corp. for a total purchase price of approximately C$4.0 million (the “Acquisition”).
The Acquisition will more than double HIVE’s total available power capacity globally to approximately 50 MW, placing it among the largest of any publicly-listed cryptocurrency miner, and provide significant diversification to the Company’s business both geographically and by blockchain network.
HIVE Blockchain Technologies Ltd. is a growth oriented, TSX.V-listed company building a bridge from the blockchain sector to traditional capital markets. HIVE owns state-of-the-art GPU-based digital currency mining facilities in Iceland and Sweden, which produce newly minted digital currencies like Ethereum continuously. Our deployments provide shareholders with exposure to the operating margins of digital currency mining as well as a growing portfolio of crypto-coins.
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