VANCOUVER, BC, July 6, 2020/PRNewswire/ - HIVE Blockchain Technologies Ltd. (TSX.V: HIVE) (OTCQX: HVBTF) (FSE: HBF) (the "Organization" or "HIVE") is satisfied to report that it has requested 200 Bitmain Antminer S17e 60 Terahash every second (TH/s) SHA 256 mining machines as it keeps on scaling up cutting edge mining power at its environmentally friendly power vitality fueled bitcoin mining activity in Quebec.
The expense for the S17e machines was roughly US$950 per unit, or just shy of US$0.2 million, financed through the Company's money. Conveyance and establishment of the new mining hardware is foreseen to happen in July.
Following establishment, barring further buys, HIVE appraises its total working hash rate explicitly from cutting edge mining hardware at its Quebec office, will be around 131 Petahash every second (PH/s), using under 6 MW power. This likens to around 22.6 PH per megawatt ("MW") of intensity, which HIVE accepts is one of the most vitality proficient bitcoin mining activities in Canada.
While the COVID-19 pandemic has affected coordinations and the flexibly of new bitcoin diggers produced in Asia, the present reported buy is HIVE's third acquisition of cutting edge bitcoin mining hardware in the course of recent months, totalling around US$2.35M with the sums paid through money close by. As a component of its procedure to augment the limit and productivity of its office, HIVE plans to keep using income to make artful interests in the office. These ventures incorporate introducing cutting edge mining gear that can give positive gross mining edges post the May 2020 dividing of bitcoin rewards; the following splitting is booked to happen in 2024.
Counseling Agreement
The Company additionally declared that it went into a counseling understanding (the "Counseling Agreement") with Robby Chang (the "Specialist") dated December 4, 2019. In accordance with the Consulting Agreement, the Consultant consented to give key counseling administrations to the Company in thought for a month to month expense of C$10,000. What's more, as per the Consulting Agreement and regarding the fruitful securing of the committed cryptographic money mining activity as declared on April 8, 2020, the Company consented to pay to the Consultant a one-time installment of 100,000 regular offers in the capital of the Company and C$10,000. Issuance of the basic offers to the Consultant is dependent upon administrative endorsement including the endorsement of the TSX Venture Exchange.
About HIVE Blockchain Technologies Ltd.
HIVE Blockchain Technologies Ltd. is a development situated, TSX.V-recorded organization constructing an extension from the blockchain division to customary capital business sectors. HIVE claims cutting edge advanced cash mining offices in Canada, Sweden, and Iceland which produce recently printed computerized monetary forms like Bitcoin and Ethereum constantly. Our organizations furnish investors with presentation to the working edges of computerized money mining just as a developing arrangement of crypto-coins.
For more data and to enlist to HIVE's mailing list, kindly visit www.HIVEblockchain.com. Follow @HIVEblockchain on Twitter and buy in to HIVE's YouTube channel.
On Behalf of HIVE Blockchain Technologies Ltd.
"Honest Holmes"
Break Executive Chairman
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is characterized in strategies of the TSX Venture Exchange) acknowledges obligation regarding the ampleness or exactness of this news discharge.
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