VANCOUVER, BC, June 12, 2020 /CNW/ - HIVE Blockchain
Technologies Ltd. (TSXV: HIVE) (OTCQX: HVBTF) (FSE: HBF) (the
"Company" or "HIVE") is pleased to announce that it has ordered
1,090 Bitmain Antminer T17+ SHA 256 mining machines as it continues
to scale up next generation mining power at its 30 megawatt
capacity, green energy-powered bitcoin mining operation in
Quebec acquired in April. Delivery
and installation of the new mining equipment is anticipated to
occur later this month.
Combined with the recently installed 750 Bitmain S17+ Antminer
machines operational at its Quebec
facility, HIVE estimates its aggregate operating hash rate,
specifically from next generation mining equipment at its
Quebec facility, will be
approximately 118 PH/s by the end of June. This excludes further
mining purchases.
The cost for the 1,090 T17+ machines was approximately
US$1,000 per unit, or just over
US$1 million, financed through the
Company's net cash.
About HIVE Blockchain Technologies Ltd.
HIVE Blockchain Technologies Ltd. is a growth oriented,
TSX.V-listed company building a bridge from the blockchain sector
to traditional capital markets. HIVE owns state-of-the-art digital
currency mining facilities in Canada, Sweden, and Iceland which produce newly minted digital
currencies like Bitcoin and Ethereum continuously. Our deployments
provide shareholders with exposure to the operating margins of
digital currency mining as well as a growing portfolio of
crypto-coins.
For more information and to register to HIVE's mailing list,
please visit www.HIVEblockchain.com. Follow @HIVEblockchain on
Twitter and subscribe to HIVE's YouTube channel.
On Behalf of HIVE Blockchain Technologies Ltd.
"Frank Holmes"
Interim Executive Chairman
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this news release.
Forward-Looking Information
Except for the statements of historical fact, this news
release contains "forward-looking information" within the meaning
of the applicable Canadian securities legislation that is based on
expectations, estimates and projections as at the date of this news
release. The information in this news release that are
forward-looking information include: the purchase, delivery and
installation of Bitmain Antminer T17+ SHA 256 mining machines at
the Company's facility in Quebec;
the Company's estimated aggregate operating hash rate; further
mining purchases; scaling up of mining power from next generation
mining equipment; and the intentions, plans and future actions of
the Company. This forward-looking information is based on
reasonable assumptions and estimates of management of the Company
at the time it was made, and involves known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking information. Such
factors include, among others: the COVID 19 crisis; the delivery
and installation of ordered equipment may not occur as currently
anticipated, or at all; the Company may not achieve operating hash
rate, efficiencies or profitability as currently anticipated, or at
all; the digital currency market; the ability to successfully mine
digital currency; revenue may not increase as currently
anticipated, or at all; it may not be possible to profitably
liquidate the current digital currency inventory, or at all; a
decline in digital currency prices may have a significant negative
impact on operations; the volatility of digital currency prices;
the Company may never realize more efficient operations, a lower
cost structure, or greater flexibility in operation; risks relating
to the global economic climate; dilution; and other related risks
as more fully set out in the Company's continuous disclosure record
filed at www.sedar.com. The Company has also assumed that delivery
and installation of recently ordered equipment will occur as
expected, and no significant events occur outside of the Company's
normal course of business. Although the Company has attempted to
identify important factors that could cause actual results to
differ materially, there may be other factors that cause results
not to be as anticipated, estimated or intended. There can be no
assurance that such statements will prove to be accurate as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking information. The Company
undertakes no obligation to revise or update any forward -looking
information other than as required by law.
SOURCE HIVE Blockchain Technologies Ltd.