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This information launch constitutes a “designated information launch” for the needs of the Company’s prospectus complement dated February 2, 2021 to its quick kind base shelf prospectus dated January 27, 2021.
VANCOUVER, BC / ACCESSWIRE / April 7, 2021 / HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (OTCQX:HVBTF) (FSE:HBF) (the “Company” or “HIVE”) is happy to offer an replace on its fiscal yr finish coin stock because it continues to HODL cash.
Coin Inventory (HODL)
As beforehand introduced because the starting of the calendar yr 2021 HIVE has been a Holder of all mined Bitcoin and Ethereum cash and has been banking them in chilly wallets. As on the completion of our most just lately accomplished fiscal yr ended March 31, 2021 we held over 320 Bitcoin and over 20,030 Ethereum cash.
Our technique is to proceed holding cash, as we really feel that it’s going to profit our shareholders. The greenback worth of our crypto belongings at fiscal yr finish was roughly US $60 million and money was US $36 million.
Ethereum
Ethereum has for the 12 months far outperformed bitcoin. BTC is up 815% and ETH 1,336%.
We proceed to be the one publicly traded crypto mining firm producing and saving each BTC and ETH. We have introduced our commitments to develop our Bitcoin manufacturing to three Exahash over the following 12 months. Based on present BTC and ETH costs our income would surge 300%.
Supply traces and logistics COVID-19
We remind our shareholders that the COVID-19 pandemic continues to impression logistics and the provision of miners from Asia. This world danger shouldn’t be remoted to cryptocurrency, however can be impacting the worldwide manufacturing of vehicles. HIVE intends to proceed using money movement to make opportunistic investments in ASIC and GPU subsequent era mining tools that may present optimistic gross mining margins.
If all our ordered tools arrives from Asia as deliberate, then our income primarily based on present BTC and ETH costs may triple over the following 12 months.
Option Grant
The Company introduced that the Board of Directors has authorised the grant of 100,000 incentive inventory choices to the Company’s Managing Director of Sweden and 75,000 incentive inventory choices to consultants of the Company, which vest over 12 months. The choices are exercisable into the equal quantity of widespread shares of the Company at a worth of C$5.03 per share till April 6, 2031.
Prior to the grants, the Company had roughly 368 million issued and excellent widespread shares and 14 million inventory choices.
About HIVE Blockchain Technologies Ltd.
HIVE Blockchain Technologies Ltd. is a progress oriented, TSX.V-listed firm constructing a bridge from the blockchain sector to conventional capital markets. HIVE owns state-of-the-art inexperienced energy-powered knowledge centre services in Canada, Sweden, and Iceland which produce newly minted digital currencies like Bitcoin and Ethereum constantly on the cloud. Our deployments present shareholders with publicity to the working margins of digital forex mining in addition to a portfolio of crypto-coins.
For extra info 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.
“Frank Holmes”
Executive Chairman
For additional info please contact:
Frank Holmes
Tel: (604) 664-1078
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.
Forward-Looking Information
Except for the statements of historic reality, this information launch incorporates “forward-looking info” inside the that means of the relevant Canadian securities laws that’s primarily based on expectations, estimates and projections as on the date of this information launch. “Forward-looking info” on this information launch contains details about the continued results of the COVID-19 pandemic on logistics and the provision of miners; potential for the Company’s long-term progress, and the enterprise objectives and targets of the Company.
Factors that might trigger precise outcomes to vary materially from these described in such forward-looking info embrace, however usually are not restricted to, the continued results of the COVID-19 pandemic could have a fabric adversarial impact on the Company’s efficiency as provide chains are disrupted and stop the Company from working its belongings; a lower in cryptocurrency pricing, quantity of transaction exercise or typically, the profitability of cryptocurrency mining; additional enhancements to profitability and effectivity will not be realized; the Company’s precise outcomes could also be totally different from the unaudited outcomes reported herein; the digital forex market; the Company’s potential to efficiently mine digital forex; the Company could not have the ability to profitably liquidate its present digital forex stock, or in any respect; a decline in digital forex costs could have a major damaging impression on the Company’s operations; the volatility of digital forex costs; and different associated dangers as extra totally set out within the Filing Statement of the Company and different paperwork disclosed underneath the Company’s filings at www.sedar.com.
The forward-looking info on this information launch displays the present expectations, assumptions and/or beliefs of the Company primarily based on info at present obtainable to the Company. In reference to the forward-looking info contained on this information launch, the Company has made assumptions concerning the present profitability in mining cryptocurrency (together with pricing and quantity of present transaction exercise); worthwhile use of the Company’s belongings going ahead; the Company’s potential to profitably liquidate its digital forex stock as required; historic costs of digital currencies and the flexibility of the Company to mine digital currencies can be in step with historic costs; and there can be no regulation or legislation that may forestall the Company from working its enterprise. The Company has additionally assumed that no vital occasions happen exterior of the Company’s regular course of enterprise. Although the Company believes that the assumptions inherent within the forward-looking info are affordable, forward-looking info shouldn’t be a assure of future efficiency and accordingly undue reliance shouldn’t be placed on such info because of the inherent uncertainty therein.
SOURCE: Hive Blockchain Technologies Ltd
View supply model on accesswire.com:
https://www.accesswire.com/639249/HIVE-Announces-Fiscal-Year-End-HODL-Coin-Assets
