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News
31 March 2020

Publicly traded Canadian miner doubles its capacity through strategic acquisition

HIVE Blockchain Technologies, an Ethereum miner listed on the Toronto Stock Exchange, has announced its acquiring 30MW of hydroelectric power at a leased facility from Cryptologic Corp for $4 million CAD, or around $2.8 million USD. The acquisition will be used to diversify the companies revenue by mining Bitcoin with the facility's approximately 14,000 Bitmain S9 miners, which will more than double its total available power capacity globally. The firm also has facilities in Sweden and Iceland and plans on increasing its operation in Sweden by 20% over the next two quarters.

Why it matters - As Bitcoin's halving approaches, there are concerns over miner profitability with the mining reward being cut in half and prices down around 40% from its local high 6-weeks ago. Some miners have been forced to shut down operations recently which has led to one of the largest difficulty adjustments in history. In light of this, HIVE believes mining bitcoin will still be a profitable endeavor, in part due to their cheap electricity costs of $0.04 kWh. - The company's stock (TSX: HIVE.V) increased with the rest of the equities market as it closed up 5.41% on the day.

Early today a Bitcoin UTXO more than 11 years old was spent on-chain. The coins were first mined on February 9, 2009, just one month after Bitcoin was launched. According to CoinMetrics engineer Antoine Le Calvez, the transaction marked the first time since August 2017 that someone spent coins datin...
TokenSoft, a security token issuance and platform, has used its own product to distribute equity to investors from its $4 million seed round raised almost two years ago. The company issued the tokenize shares on Ethereum using the ERC-1404 standard, which allows issuers to restrict certain transfer ...
Reddit, one of the most popular online forums knowns as the “front page of the internet”, will be trialing out a new Community Points system using tokens issued on Ethereum. According to the site: Community Points are a way for Redditors to own a piece of their favorite communities. As a unit of...

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