HIVE Blockchain Technologies (NASDAQ:HVBT) Is Back in Action: Now What?

Cryptocurrency mining company with a green energy and ESG strategy, HIVE Blockchain Technologies (NASDAQ:HVBT) announced buying and instantly hashing of 3,019 MicroBTWhatsMiner M30S dedicated mining computers.

The new machines have total hash power of 264 Petahash per second and integration of miners into the company’s system will be immediate and will augment its overall Bitcoin operating hashrate by approximately 46%.

HIVE’s aggregate operating hash rate will augment from 566 PH/s to 830 PH/s, generating extra income daily of US$80,000. Bitcoin has daily volatility of plus or minus 6%.

The acquisitions of miners are located in Lachute, Quebec and Grand Falls, New Brunswick. Purchased from Foundry Digital LLC, a company focusing on digital assets’ mining and staking, HIVE will contribute its hashpower to Foundry USA Pool going forward.

Frank Holmes, Executive Chairman of HIVE said that it is augmenting mining capacity without any delays and the company’s entry into North American mining pool furthers the goal of increasing accountability with partners.

Mike Colyer, CEO of Foundry said that its excited to have HIVE as partner as it plays a critical part in securing the global bitcoin mining network. Foundry would be given cash and 1.5 million warrants of the Company, subject to regulatory approval. Each complete warrant will give holder to acquire one common share for C$3.11 for a period of 2 years.