Vancouver, British Columbia – (Newsfile Corp. – December 3, 2021) – HIVE Blockchain Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: HBF) (the “Company” or announce production figures for the Company’s global Bitcoin and Ethereum mining operations for the month of November 2021, with a BTC balance HODL of 1,584 Bitcoin to date.
Production figures for November 2021
After a record results report for the second quarter of 2022 (period end September 30, 2021), HIVE is pleased to announce its production figures for November 2021. The Company notes that it currently has:
Frank Holmes, Executive Chairman of HIVE, said: “We are very pleased to report that HIVE has continued its momentum after our record production numbers in October; this trend continues in our November production where HIVE again generates over US $ 280 million in annual sales on a run rate basis using November figures, or approximately C $ 350 million. “
Aydin Kilic, President and COO of HIVE, said, “We would like the investing public and crypto enthusiasts to understand the financial relationship between BTC mining and ETH. For example, in the month of November 1,000 GH / s of ETH mining was equivalent. if measured in daily earnings the value of coins produced at around 228 PH / s of Bitcoin mining. The company believes that its unique position of having a large Bitcoin and Ethereum mining footprint offers investors a unique value proposition. Mr. Kilic continued, “Likewise, when one can equate hashrate on the basis of income between BTC and ETH you can also equate the value of coins on a daily basis, as such daily the 2,334 ETH that HIVE produced during the month of November is approximately equal in value to the production of a monthly total of 171 BTC. This is in addition to the 218 BTC produced from our Bitcoin mining operations.
The Company’s total equivalent Bitcoin production in November 2021 was:
389 BTC equivalents produced
13 Bitcoin equivalents produced per day on average
2.3 ExaHash of BTC Equivalent Hashrate (Hashrate BTC plus Hashrate ETH equivalent)
Difficulty of network exploration
The difficulty of the Bitcoin network increased by up to 5% and likewise the difficulty of the Ethereum network increased by around 8% during the month of November. These increases in difficulty are factors in the decline in BTC and ETH produced in November compared to the previous month.
About HIVE Blockchain Technologies Ltd.
HIVE Blockchain Technologies Ltd. went public in 2017 as the first cryptocurrency mining company with a green energy and ESG strategy.
HIVE is a technology stock focused on growth in the emerging blockchain industry. As a company whose shares are traded on a major exchange, we bridge the gap between the digital currency and blockchain industry and traditional capital markets. HIVE has state-of-the-art, green power-powered data center facilities in Canada, Sweden and Iceland, where we source only green power to mine from the cloud and HODL from both Ethereum and Bitcoin. Since the start of 2021, HIVE has held the majority of its ETH and BTC coin mining rewards in secure storage. Our stocks provide investors with exposure to operating margins from digital currency mining, as well as a portfolio of cryptocurrencies such as ETH and BTC. Because HIVE also owns durable assets such as data centers and advanced multi-purpose servers, we believe our stocks provide an attractive way for investors to gain exposure to the cryptocurrency space. HIVE traded over 2 billion shares in 2020.
We encourage you to visit the HIVE YouTube channel here to learn more about HIVE.
For more information and to subscribe to the HIVE mailing list, please visit www.HIVEblockchain.com. Follow @HIVEblockchain on Twitter and subscribe to the HIVE YouTube channel.
On behalf of HIVE Blockchain Technologies Ltd.
For more information, please contact:
Phone. : (604) 664-1078
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Except for statements of historical fact, this press release contains “forward-looking information” within the meaning of applicable Canadian and US securities laws which are based on expectations, estimates and projections as of the date of this release. Press. “Forward-looking information” in this press release includes, without limitation, the long-term growth potential of the Company, as well as the business goals and objectives of the Company.
Factors that could cause actual results to differ materially from those described in this forward-looking information include, but are not limited to: volatility in the digital currency market; the Company’s ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or not at all; a significant drop in the prices of digital currencies may have a material negative impact on the operations of the Company; the price volatility of digital currencies; the continued effects of the COVID-19 pandemic may have a material adverse effect on the Company’s performance as supply chains are disrupted and prevent the Company from completing its expansion plans or operating its assets ; and other related risks as further described in the Company’s registration statement and other documents disclosed in documents filed by the Company at www.sec.gov/EDGAR and www.sedar. com.
The forward-looking information contained in this press release reflects the Company’s current expectations, assumptions and / or beliefs based on information currently available to the Company. As part of the forward-looking information contained in this press release, the Company has made assumptions about the current profitability of cryptocurrency mining (including prices and volume of ongoing transactions); profitable use of the Company’s assets in the future; the Company’s ability to profitably liquidate its digital currency inventory as needed; historical digital currency prices and the Company’s ability to mine digital currencies will be consistent with historical prices; and there will be no regulations or laws that will prevent the Company from carrying on its business. The Company also assumed that no material event occurred outside the normal course of the Company’s business. Although the Company believes that the assumptions inherent in forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and, therefore, one should not place undue reliance on such information because of its inherent uncertainty.
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