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 and maintenance services provider for the company’s flagship facility in Sweden.
Blockbase’s highly optimized software monitoring services are expected to enhance the efficiency of HIVE’s GPU mining operations while reducing costs.
Additionally, HIVE noted it has entered direct agreements with local suppliers which are now providing full transparency of costs at the Swedish operation.
“Our new strategic partnership with Blockbase is exciting as it is expected to improve profitability and enhance our mining operations in Sweden. Management expects continued improvements in efficiency, and I have been very pleased with the early progress that Blockbase has shown in Sweden. We are looking forward to a long and prosperous working relationship for both companies.”
“Signing agreements directly with local suppliers has dramatically improved transparency with regards to costs, a concern in early 2019, which we have successfully overcome. In my view, direct agreements provide a higher degree of accountability, predictability, and transparency then prior agreements. We have received numerous requests from shareholders and financial analysts asking for improved transparency and I believe that the new partnership and strategy better satisfies their needs. Going forward, we will be in a position to improve disclosure to HIVE shareholders, financial analysts, and the financial community broadly.”
– Frank Holmes, Interim Executive Chairman and Interim CEO of HIVE
Blockbase builds and manages data centers in Sweden, Norway and the USA for high-performance computing (HPC) applications such as cryptocurrency mining.