HIVE Buys New Machines to Enhance Bitcoin Mining Capacity

HIVE Blockchain Technologies Ltd. (HIVE), a Canada-based cryptocurrency mining firm, announced that it has purchased 3,019 MicroBT WhatsMiner M30S dedicated mining computers.

These new machines have an aggregate hash power of 264 Petahash per second (PH/s). The integration of these miners into HIVE's systems will be immediate upon closing and will increase HIVE's overall Bitcoin operating hashrate by approximately 46%.

With the addition of these 3,019 MicroBT M30S miners, HIVE's aggregate operating hash rate increases from approximately 566 PH/s to 830 PH/s.  At the current difficulty and Bitcoin price these purchased miners will generate an additional US$80,000 in daily income.  Bitcoin continues to have a daily volatility of plus or minus 6% and investors need to be aware of this volatility.

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Frank Holmes, Executive Chairman of HIVE stated: "We are pleased to be executing on a transaction that dramatically increases our mining capacity without any logistics delays. Our entry into a North American mining pool furthers our goal of increased transparency and accountability with our partners.  Mining power is shifting from east to West, and we're excited to be involved."