Subscribe to Our Newsletter
Saturday May 28, 2022
Bitcoin (BTC) $29,113.00   Ether (ETH) $1,790.87
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
No Result
View All Result
Swap USDT (TRC20) Instantly
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
Changelly
CryptoNinjas
Home Mining

HIVE Blockchain commences Ether mining operation in Sweden

Published by CryptoNinjas.net
01/15/2018
HIVE Blockchain commences Ether mining operation in Sweden

HIVE Blockchain Technologies Ltd. announced today the completion of the first phase of a multi-phase build-out of a large-scale GPU-based mining complex in Sweden. HIVE’s Sweden Phase 1 operation commenced mining Ethereum on January 15, 2018, and increases the company’s energy consumption dedicated to cryptocurrency mining by over 175% to 10.6MW. HIVE is fully financed to add an additional 13.6MW of GPU mining capacity in Sweden by April 2018 and a further 20.0MW of ASIC mining capacity, facilities capable of mining Bitcoin and Bitcoin Cash, by September 2018. HIVE’s expansion into Sweden diversifies the company’s existing operations located in Iceland, where it has been producing newly mined digital currency continuously since September 2017.

“I am delighted to launch HIVE’s largest and most advanced mining facility to date in Sweden, another stable, cold climate jurisdiction with access to abundant green energy, to further capitalize on rising cryptocurrency prices,” said Harry Pokrandt, CEO, and Director of HIVE.

Sweden Phase 1 is the first digital currency mining facility jointly constructed by HIVE and Genesis Mining Ltd. (“Genesis”), the world’s largest digital currency mining hash power provider. Sweden Phase 1 was completed on budget and utilizes custom Genesis-designed A2 mining rigs that are more efficient than prior generations. Genesis is HIVE’s strategic partner and a major shareholder and operates the company’s facilities under a master services agreement.

“HIVE and Genesis are building the backbone infrastructure for the blockchain sector,” said Marco Streng, Co-Founder, and CEO of Genesis Group. “Sweden Phase 1 leverages Genesis’ years of experience and knowledge gained by creating the leading cryptocurrency mining company and is highly scalable for future growth. More than twenty Genesis personnel are dedicated to HIVE’s multi-phase Sweden expansion. I would like to congratulate the team and stakeholders on the successful launch of our first new facility together, and look forward to capitalizing on the rapid growth of HIVE and the blockchain sector.”

Sweden Phase 1 has commenced mining Ethereum and is capable of mining all other GPU-based digital currencies, including Ethereum Classic, ZCash, and Monero. Since HIVE acquired its first large-scale digital currency mine in September 2017, the price of Ethereum has increased by more than 400% with the global market for cryptocurrencies growing from approximately US$120 billion to over US$700 billion.

HIVE Blockchain has raised over C$200 million since September 2017. After financing HIVE’s planned expansions, the company will retain approximately C$55 million in working capital, providing flexibility for future growth opportunities and investments.

OTC Ticker Symbol Change to HVBTF

HIVE announces that FINRA approved a change in the company’s stock symbol trading on the OTC Markets. On January 12, 2018, the company’s common shares traded on the OTC Markets under the new symbol “HVBTF” (OTC: HVBTF). The previous trading symbol was “PRELF”. There is no action required by current shareholders in connection with this change.

HIVE continues to trade on the TSX Venture Exchange under the symbol “HIVE”.

Appointment of Renmark Financial Communications Inc.

HIVE is also pleased to announce that it has retained Renmark Financial Communications Inc. for strategic investor relations. Under the terms of the agreement, HIVE will pay Renmark a monthly fee of up to C$8,000 starting January 1, 2018, for a period of six months ending on May 31, 2018, and monthly thereafter. Neither Renmark nor any of its executives have an ownership interest, directly or indirectly, in HIVE or its securities.

178
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram

Related News

HIVE Blockchain to expand Sweden Ethereum (ETH) mining facility by 20%

03/06/2020
HIVE Blockchain expands Sweden Ethereum (ETH) mining facility by 20%

HIVE Blockchain Technologies, an owner and operator of cryptocurrency mining facilities, announced today that it has initiated an expansion of its flagship GPU-based mining facility in Sweden. This expansion is anticipated to result in...

Read more

HIVE Blockchain reports over 20% increase in daily ether (ETH) mined

01/14/2020
HIVE Blockchain reports over 20% increase in daily ether (ETH) mined

HIVE Blockchain Technologies (HIVE), an owner and operator of cryptocurrency mining facilities, announced today it has experienced a more than 20% increase in newly minted ether (ETH) coins mined daily compared to its exit...

Read more

Crypto miner HIVE sees 140% income rise over FY2018

09/30/2019
Crypto miner HIVE sees 140% income rise over FY2018

HIVE Blockchain Technologies Ltd. (HIVE), an operator of cryptocurrency mining facilities, today announced its results for the fourth quarter and full-year ended March 31, 2019 (all amounts in US dollars, unless otherwise indicated). The...

Read more

Crypto miner HIVE partners with Blockbase to optimize GPUs at Sweden facility

08/14/2019
Crypto miner HIVE partners with Blockbase to optimize GPUs at Sweden facility

HIVE Blockchain Technologies (HIVE), an operator of GPU-based cryptocurrency mining resources in Iceland and Sweden, today announced that it has entered a strategic partnership with Blockbase Group DWC-LLC (Blockbase), as the new software operator...

Read more
Load More

Discussion about this post

Where to Exchange

Crypto services suite in Spanish Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
America's first regulated bitcoin exchange Visit
  • Trending
  • Latest
Kiln completes $5 million funding round to grow blockchain staking platform

Kiln completes $5 million funding round to grow blockchain staking platform

05/19/2022
Legion Network launches app with crypto wallet, NFTs, play2earn, watch2earn, launchpads, rewards and more

Legion Network launches app with crypto wallet, NFTs, play2earn, watch2earn, launchpads, rewards and more

05/24/2022
Decred blockchain introduces new cross-chain, SPV-based wallet: GoDCR

Decred blockchain introduces new cross-chain, SPV-based wallet: GoDCR

05/23/2022
TRON network integrated with blockchain infrastructure provider Ankr

TRON network integrated with blockchain infrastructure provider Ankr

05/23/2022
Tether's USDt now live on Polygon network

Tether’s USDt now live on Polygon network

05/27/2022
Polygon-built prediction market protocol SX Network integrates Celer cBridge

Polygon-built prediction market protocol SX Network integrates Celer cBridge

05/26/2022
Crypto derivatives platform BitCoke raises $20M USD led by Huobi

Crypto derivatives platform BitCoke raises $20M USD led by Huobi

05/26/2022
Cosmos creator and co-founder of Tendermint Jae Kwon launches NewTendermint

Cosmos creator and co-founder of Tendermint Jae Kwon launches NewTendermint

05/25/2022
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2022 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2022 CryptoNinjas Disclosures | Privacy Policy

Go to mobile version