HIVE Blockchain (TSXV:HIVE) Doubles Bitcoin Production, Buys New-Gen Bitcoin Miners

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HIVE Blockchain (TSXV:HIVE) Doubles Bitcoin Production, Buys New-Gen Bitcoin Miners

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  • HIVE Blockchain Technologies Ltd has bought 4,180 MicroBT WhatsMiner M31S+. These have an aggregate operating hash power of 334 Petahash per second (PH/s).
  • HIVE aims to double its bitcoin mining operations with aggregate operating hash power of 1,000 PH/s by 2021- end with this purchase.
  • The delivery of equipment with be in tranches throughout 2021. About 180 miners will be delivered in April. Five hundred miners will be delivered in each month from May onwards.
  • The entire purchase has been funded from HIVE’s operational cash flows.
  • HIVE primarily mines Ethereum, producing nearly 22,000 tokens in quarter ending on December 31, 2020. It ended 2020 with approximately 13,100 Ethereum coins.
  • The firm has increased its Bitcoin production from 89 in the prior quarter to 160 last quarter ending December 31. The company had approximately 140 Bitcoins at the end of the quarter.
  • HIVE stocks is currently trading at C$ 2.39 and is among the most active stocks on the Toronto Stock Exchange.
  • The stocks have gained over 2400 per cent in 2020. Its current market capital is C$ 826 million.
  • Its price-to-cash flow ratio is 115.3, price-to-earning ratio is 43.2 and price-to-book ratio is 18.3.

 

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