Hive Blockchain Technologies Ltd

Description

Hive Blockchain Technologies Ltd is engaged in cryptocurrency mining and aims to develop a bridge between traditional capital market industry and blockchain sector.
The Vancouver-based firm’s stocks trade on the junior equity platform, TSX Venture, under the symbol ‘HIVE’.

Recently in 2021, the blockchain technologies company was also listed on the NASDAQ.

Hive Blockchain Technologies Inc mines and produces cryptocurrency from green energy sources and its portfolio consists of the following digital currencies:
• Bitcoin
• Ethereum
• Ethereum Classic
• ZCash

It owns and operates six data centers across North America and Europe, namely

• Application-Specific Integration Circuit: The Quebec-based data center produces bitcoin with an energy consumption of 30 megawatt entirely sourced from hydro power, reportedly.

• Graphics Processing Units: The GPU facilities are located in Iceland and produces Ethereum, Ethereum Classic and ZCash with energy consumption of two megawatts, of which 1.8 megawatts is sourced from geothermal power.

• Graphics Processing Units: Located in Boden, Sweden, the unit caters to Ethereum production with energy consumption of 6.8 megawatt each sourced from hydro power.

In April 2021, the cryptocurrency-focused firm acquired a 50-megawatt data center campus from GPU One Holding Inc in New Brunswick to expand its processing operations across Canada.

In the same month, the company and DeFi Technologies completed a share swap transaction, wherein it received ten million common stocks of the latter in exchange for issuance of its four million shares to DeFi.

On May 28, 2021, HIVE claims to have received confirmation for an additional 10 megawatt of green energy electricity supply to function its GPU data center in Sweden. With this, the current capacity of the data center has been raised to 33 megawatts.

In June 2021, Hive Blockchain Technologies launched a new 4.6 megawatts facility in Robertsfors, increasing the total capacity in Sweden to more than 33 megawatt and global capacity to 133 megawatts reportedly.

The company reportedly deposits the digital currency in cold wallets in the bank to enhance its shareholders value and wealth.