ZUG, Switzerland and VANCOUVER, – HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (OTCQX:HVBTF) (the “Company” or “HIVE”) is happy to supply the next operational replace. The Company broadcasts that it has skilled a greater than 20% enhance in newly minted Ether cash mined every day in comparison with its exit run fee for the final 15 days in December 2019.
The enchancment has occurred because the Company accomplished the current Ethereum community improve dubbed the “Muir Glacier” earlier this month. Assuming no important future decreases in the value of Ethereum or important will increase in the present Ethereum community hash fee, the elevated technology of Ether cash is anticipated to have a optimistic impression on HIVE’s revenues from Ethereum mining in addition to gross mining revenue because the improve didn’t outcome in a rise in electrical energy energy consumption.
“As one of many world’s largest miners on the Ethereum community, we’re enthusiastic about current developments on the community together with the useful impression of the current community improve,” stated Frank Holmes, Interim Executive Chairman of HIVE. “The current uptick in the variety of distinctive addresses on the Ethereum community additionally illustrates growing adoption of the community, which we hope can even outcome in a rise in the value of Ethereum as such exercise has been correlated with the value of Ethereum cash in the previous.
“Additionally, in a current survey by Deloitte1, 95% of survey respondents noticed good contracts as an essential blockchain functionality. Ethereum is an open-ended, decentralized, blockchain-based public software program platform that facilitates such peer-to-peer contracts, or “good contracts”, in addition to de-centralized functions,” famous Mr. Holmes.
About Ethereum and Ether Mining2
Mining is the method of making a block of transactions to be added to the Ethereum blockchain. Miners basically course of pending transactions and are awarded block rewards in the type of Ether, the Ethereum community’s native forex, for every block generated. HIVE maintains a portfolio of Ether cash and sells some for fiat forex in order to cowl its mining and different working and administrative bills.
Generating a block requires intensive computational work (or hashing energy) as a result of issue set by the Ethereum community protocol. This issue stage is proportional to the whole quantity of computational energy (also called the whole hashrate of the community) getting used to mine Ethereum and serves as a technique to safe the community from assaults in addition to tuning the pace at which blocks (and block rewards) are generated.
In order to help the Ethereum community, builders want the cryptocurrency Ether to create and run functions. Ether is used to pay for transaction charges and computational providers. Users can ship Ether to different customers. And builders can write good contracts that obtain, maintain and ship Ether.
AboutHIVE Blockchain Technologies Ltd.
HIVE Blockchain Technologies Ltd. is a development oriented, TSX.V-listed firm constructing a bridge from the blockchain sector to conventional capital markets. HIVE owns state-of-the-art GPU-based digital forex mining amenities in Iceland and Sweden, which produce newly minted digital currencies like Ethereum repeatedly in addition to cloud-based ASIC-based capability which produces newly minted digital currencies like Bitcoin. Our deployments present shareholders with publicity to the working margins of digital forex mining in addition to a rising portfolio of crypto-coins.
For extra data and to register to HIVE’s mailing listing, please go to www.HIVEblockchain.com. Follow @HIVEblockchain on Twitter and subscribe to HIVE’s YouTube channel.
On Behalf of HIVE Blockchain Technologies Ltd.
Interim Executive Chairman
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that time period is outlined in insurance policies of the TSX Venture Exchange) accepts accountability for the adequacy or accuracy of this information launch.
Except for the statements of historic truth, this information launch comprises “forward-looking data” throughout the that means of the relevant Canadian securities laws that’s based mostly on expectations, estimates and projections as on the date of this information launch. “Forward-looking data” in this information launch contains, however is just not restricted to, statements concerning the rise in newly minted Ether cash and up to date Ethereum community improve having a optimistic impression on HIVE’s revenues from Ethereum mining in addition to gross mining revenue; growing adoption of the community; the potential enhance in the value of Ethereum and, the Company’s future plans and development alternatives.
Factors that would trigger precise outcomes to vary materially from these described in such forward-looking data embrace, however are usually not restricted to, current upgrades and elevated minted Ether cash could not have a optimistic impression on HIVE’s revenues, or gross mining margin; the Company could by no means understand extra environment friendly operations, a decrease price construction, or larger flexibility in operations; and different associated dangers as extra absolutely set out in the Filing Statement of the Company dated September 13, 2017 and different paperwork disclosed below the Company’s filings at www.sedar.com.
The forward-looking data in this information launch displays the present expectations, assumptions and/or beliefs of the Company based mostly on data at the moment obtainable to the Company. In reference to the forward-looking data contained in this information launch, the Company has made assumptions concerning the optimistic results of current upgrades and elevated minted Ether cash. The Company has additionally assumed that no important occasions happen exterior of the Company’s regular course of enterprise. Although the Company believes that the assumptions inherent in the forward-looking data are cheap, forward-looking data is just not a assure of future efficiency and accordingly undue reliance shouldn’t be placed on such data as a result of inherent uncertainty therein.
1 Source: www2.deloitte.com/content material/dam/Deloitte/se/Documents/danger/DI_2019-global-blockchain-survey.pdf
2 Sources: Ethereum.org and cmegroup.com/schooling/programs/introduction-to-ether/defining-ether-and-ethereum.html
SOURCE HIVE Blockchain Technologies Ltd.
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