Infrastructure upgrade........HIVENews Release from December 23, 2020
Upgrading Infrastructure
We have been aggressively upgrading our GPU memory chips from 4 GB memory cards to 8 GB memory cards. We believe our upgrade will be finished by the end of January 2021. We have spent over USD $12 million from internal cash flow and coin inventory sales which had appreciated.
News Release from January 4, 2021
HIVE Blockchain Technologies Ltd. (TSX.V:HIVE)(OTCQX:HVBTF)(FSE:HBF) (the "Company" or "HIVE") is excited to announce the purchase of 4,180 MicroBT WhatsMiner M31S+ next generation miners with an aggregate operating hash power of 334 Petahash per second (PH/s) as it continues to expand its bitcoin mining operations.
New Miners
With the addition of these 4,180 MicroBT WhatsMiner M31S+ Miners, HIVE's aggregate operating hash rate from Bitcoin mining to almost double to an estimated 653 PH/s.
Based on the orders that have been placed, this new equipment is expected to be delivered in 9 tranches in 2021, with 180 miners delivered in April and 500 miners delivered in each month in the remainder of calendar 2021 commencing with May delivery.
These secured orders are the continuing steps that HIVE is taking towards the vision to achieve an aggregate operating hash power of 1,000 PH/s by the end of calendar 2021, all funded out of operational cash flows. With these secured purchases the Company has taken a huge step towards its goal.
HIVE continues to be the leading Ethereum producer sourcing green energy from facilities in Sweden and Iceland. Ethereum has outperformed Bitcoin over the past year and based upon the Company's preliminary unaudited results, we produced approximately 22,000 Ethereum coins in the last quarter ended December 31, 2020 and inventory ended with approximately 13,100 Ethereum coins. Further our Bitcoin production in Canada increased to approximately 160 Bitcoins in the past quarter up from 89 in the prior quarter, and we ended the December 31, 2020 quarter with inventory of approximately 140 coins.
As we have mentioned before, the COVID-19 pandemic continues to impact logistics and the supply of miners from Asia. Today's announcement is part of our continuing strategy to increase our bitcoin mining capacity. HIVE intends to continue utilizing cash flow to make opportunistic investments in next generation mining equipment that can provide positive gross mining margins.
BUILDING A POWERHOUSE !!!
$3 is peanuts when by June you will see a 3x your $$$ ....Buying more at $2.92