Sunday March 07, 2021
Bitcoin (BTC) $49,317.00   Ether (ETH) $1,668.81
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
NEWSLETTER SIGNUP
EXCHANGE 300+ COINS
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
No Result
View All Result
Home Mining

HIVE Blockchain Technologies improves financial terms of Bitcoin mining contract

Published by CryptoNinjas.net
11/20/2018
HIVE Blockchain Technologies improves financial terms of Bitcoin mining contract

HIVE Blockchain Technologies Ltd. (HIVE), owner and operator of state-of-the-art GPU-based digital currency mining facilities announced that it is ushering in a new chapter as HIVE transitions from its initial start-up phase to HIVE 2.0.

The company today has provided an update on its ASIC mining capacity which began operations on time on September 30, 2018. The previously announced cloud-based contract has been amended to reduce operating costs by 30%, retroactive to October 1, 2018, and provides the option to extend the contract term to two years from one year. Management believes this will have an immediate positive impact on profitability and cash flow generation for the Company.

Additionally, HIVE announced that it has appointed Marco Streng, CEO of Genesis Group and a co-founder of HIVE, as its Vice-Chairman and that it has appointed Darcy Daubaras as Chief Financial Officer effective immediately. Mr. Daubaras replaces Jessica Van Den Akker who has resigned from the Company. Mr. Daubaras will assume responsibility for signing off on the Company’s second-quarter financial statements. Management believes that these are positive corporate developments for HIVE and mark important milestones for the Company as it continues to expand its blockchain footprint and looks towards positive cash flow generation.

Marco Streng is the CEO and co-founder of Genesis as well as a co-founder of HIVE and brings significant experience in the blockchain infrastructure ecosystem. His experience benefits HIVE as the Company expands its footprint and presence in blockchain, including Bitcoin mining. Since its inception in 2013 and under the direction of Marco Streng, Genesis has grown to become the largest hash power provider in the cloud and a leading services provider to the blockchain industry.

Mr. Daubaras brings over 20 years of experience in corporate accounting and public company service. Prior to joining HIVE, Darcy was a member of the executive team at FinancialCAD Corporation. Mr. Daubaras has previously served as the Chief Financial Officer for Canadian listed public companies as well as serving as the Director of Corporate Accounting with Mercer International. Darcy was awarded a CPA, CA designation from the Chartered Professional Accountants of British Columbia as well as being awarded a CPA designation in Illinois and has experience with Sarbanes-Oxley. He received a Bachelor of Commerce from the University of Victoria.

Frank Holmes, HIVE Interim Executive Chairman, said

“I am pleased to welcome Darcy to the executive team and believe his significant experience will serve HIVE extremely well as we enter the next phase of the Company which we are calling HIVE 2.0. I am also pleased that Marco has agreed to join the Board of Directors given his expertise in blockchain as CEO and co-founder of Genesis. Further, the amendments made to the cloud-based services agreement with Genesis mean that HIVE’s mining operations are expected to see improved profitability despite current market conditions and we remain bullish on the long-term value of cryptocurrencies in spite of volatility seen throughout 2018. I would like to thank Jessica who has served as CFO since our launch as a publicly listed blockchain infrastructure company and is an industry pioneer. During her tenure, Jessica developed deep knowledge of the cryptocurrency industry and she was a key contributor to HIVE during its critical growth period. I wish her success in her future endeavors.”

FacebookTwitterLinkedinRedditE-MailTelegram

Related News

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

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

08/14/2019
Crypto mining firms HIVE Blockchain and Argo Blockchain look to combine
Mining

Crypto mining firms HIVE Blockchain and Argo Blockchain look to combine

05/13/2019
HIVE Blockchain finalizes $9M acquisition of crypto mining center in partnership with Genesis Mining
Mining

Genesis Mining attempts take over of mining firm HIVE Blockchain

04/23/2019
HIVE Blockchain Announces $7 Million Equity Investment by Genesis Mining
Mining

HIVE Blockchain announces $7 million equity investment by Genesis Mining

10/10/2017
HIVE expands hashpower by over 70% with Second Data Centre and strengthens partnership with Genesis Mining
Featured

Newly formed HIVE Blockchain acquires 2nd crypto mining center

09/21/2017
Load More
Leave Comment

Where to Exchange

Bit2MeLeading Spanish Bitcoin ExchangeVisit
BL3P
European Bitcoin ExchangeVisit
ChangellyExchange & Buy 150+ CryptocurrenciesVisit
itBitAmerica's First Regulated Bitcoin ExchangeVisit
  • Trending
  • Latest
Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

03/04/2021
Creators of crypto wallet Exodus files with SEC to allow purchase of its stock with bitcoin

Creators of crypto wallet Exodus file with SEC for $75M public offering

03/03/2021
SIMBA Chain expands to Avalanche blockchain enabling low-code smart contract deployment

SIMBA Chain expands to Avalanche blockchain enabling low-code smart contract deployment

03/02/2021
Canadian bitcoin exchange CoinSmart raises $3.5M to expand into Europe

Canadian bitcoin exchange CoinSmart raises $3.5M to expand into Europe

03/01/2021
DeFi yield optimization protocol ETHA Lend closes $1.6M funding round

DeFi yield optimization protocol ETHA Lend closes $1.6M funding round

03/04/2021
Bitcoin DeFi platform Sovryn reveals $1.25M bug bounty; raises $10M in token presale

Bitcoin DeFi platform Sovryn reveals $1.25M bug bounty; raises $10M in token presale

03/05/2021
P2P crypto escrow platform Escaroo adds staking function from Moonstake

P2P crypto escrow platform Escaroo adds staking function from Moonstake

03/05/2021
SecondState launches Ethereum compatible ParaTime on the Oasis blockchain

SecondState launches Ethereum compatible ParaTime on the Oasis blockchain

03/05/2021
NFT platform Curio closes seed funding of $1.2M to fuel expansion

NFT platform Curio closes seed funding of $1.2M to fuel expansion

03/05/2021
IOTA token added as collateral asset on Bitfinex Borrow

IOTA token added as collateral asset on Bitfinex Borrow

03/05/2021
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2021 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

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy


Go to mobile version