July 6, 2021
Last Thursday, HIVE Blockchain Technologies listed on Nasdaq (HVBT), offering U.S. traders entry to Bitcoin and Ether mining.
As lots of you already know, HIVE turned the primary crypto miner to be traded publicly when it debuted on the TSX Venture virtually 4 years in the past. Its up-listing to Nasdaq, the world’s premiere tech inventory change, represents the fruits of months of arduous work by our staff. I wish to thank shareholders for his or her loyalty and endurance.
That mentioned, I consider the most effective is but to come back. We’re of the opinion that Ether 2.0 Proof of Stake (PoS) will take not less than one other two years earlier than Ether mining is now not financially enticing. That’s a part of the rationale why we’ve been expanding our enterprise cloud services centered on high-performance computing (HPC) workloads resembling gaming, synthetic intelligence (AI) and film animation.
Toward that finish, HIVE simply agreed to join the NVIDIA Partner Network (NPN) as a cloud service provider, offering us entry to the tech firm’s ecosystem, companions, prospects and deep business experience. We additionally considerably elevated our computing capability by shopping for NVIDIA graphics processing models (GPUs) with a complete contract worth of greater than $66 million.
In the meantime, HIVE continues to carry its newly minted Bitcoin and Ether, mined utilizing solely 100% inexperienced renewable vitality, in safe storage.
It’s essential for traders to take into account that the crypto mining house continues to be extremely unstable. Whereas gold has a each day customary deviation of ±1%, Bitcoin has certainly one of ±6%. By introducing our enterprise cloud service choices, we hope to decrease a few of HIVE’s volatility whereas sustaining its enticing margins.
Bitcoin Network a Far Bigger Consumer of Sustainable Energy Than Fake News Reports
Besides being an NVIDIA cloud service supplier, HIVE is proud to be a founding member of the Bitcoin Mining Council (BMC), the group conceived in May after current talks between North American Bitcoin miners, Elon Musk and MicroStrategy co-founder and CEO Michael Saylor.
In the previous couple of months, the worldwide Bitcoin mining community has come beneath heightened scrutiny over its vitality consumption. Critics, most notably Elon Musk, have tried making the case that Bitcoin makes use of an unacceptable quantity of electrical energy generated by fossil fuels, with Musk going as far as to cancel Tesla’s coverage of accepting the cryptocurrency as a type of fee.
Newly compiled analysis, although, proves simply how unfounded these criticisms actually are. In its very first report, the BMC releases outcomes of its survey of over 32% of the present international Bitcoin community, discovering that members are utilizing electrical energy with a 67% sustainable energy combine. Based on that knowledge, the whole sustainable energy combine could possibly be as excessive as 56%, making Bitcoin mining one of the sustainable industries globally.
To put that in perspective, the U.S. at present makes use of electrical energy that’s solely 30.5% sustainable. For China, that determine is lower than 15%.
Take a take a look at the beautiful chart beneath. Fake information makes Bitcoin out to be the largest vitality guzzler on the planet. On the opposite, its energy usage is negligible, because it consumes solely 0.117% of whole international electrical energy.
Global Bitcoin mining vitality use is negligible
Bitcoin Mining Council, USGI
There could also be many the reason why individuals unfold misinformation about Bitcoin. Much of the misinformation could originate from Ripple, which is at present beneath investigation by the Securities and Exchange Commission (SEC). The fintech agency is believed to make use of a large number of bots on Twitter and different social media platforms with the intent of tearing Bitcoin down in favor of its personal XRP coin.
Busy Roads and Skies this Fourth of July
This previous weekend marked America’s independence from Great Britain, and in some ways, it additionally marked American households’ independence from the pandemic. The American Automobile Association (AAA) forecasted that vacation journey quantity would rival that of 2019 quantity, with 47.7 million individuals taking to the roads and skies. Car journey could have even exceeded 2019 ranges.
Air passenger site visitors, in the meantime, was anticipated to succeed in 90% of 2019 quantity, bringing it as near pre-pandemic ranges as we’ve seen thus far. In June, greater than 56.7 million individuals had been screened at U.S. airports, the best quantity since February 2020, quickly earlier than your complete world economic system went into lockdown.
Air passenger numbers serge highest since final yr
TSA, USGI
Unexpectedly robust demand is mirrored within the efficiency of vitality and manufacturing shares within the first half of 2021. Among the leaders within the S&P 500 had been oil exploration and manufacturing resembling Marathon Oil (whose inventory doubled within the six months ended June 30), Texas-based Diamondback Energy and Devon Energy, in addition to producers resembling energy generator-producer Generac and steel-producer Nucor.
Energy & manufacturing shares led the S&P 500
Bloomberg, USGI
Despite Labor Shortages, Factories Expanded at a Record Pace
All of this robust demand has put a pressure on fuel stations, a few of which have already began seeing outages forward of the July Fourth weekend. To be clear, that is the results of a labor scarcity, not gasoline scarcity. According to National Tank Truck Carriers, the business is short some 50,000 drivers right now.
Factories each right here and overseas additionally proceed to expertise a labor scarcity as suppliers wrestle to maintain up with a wave of recent orders. Nonetheless, factories reported very robust development in June, with some surveys indicating file or near-record ranges of enlargement. The IHS Markit Manufacturing PMI got here in at 62.1, unchanged from May’s file studying, whereas the ISM Manufacturing PMI dipped barely from 61.2 to 60.6.
U.S. producers increasing, regardless of of labor storages
IHS Markit, ISM, USGI
One of probably the most thrilling manufacturing orders in current reminiscence occurred final week when United Airlines put in an order for an unimaginable 270 new plane, together with 200 Boeing Max jets and 70 Airbus 321neos. This represents the service’s largest such order in firm historical past, and I see it as extraordinarily bullish not only for United and Boeing however the industrial airline business as a complete. United is positioning itself to seize market share as vaccination charges rise, journey restrictions are lifted and economies totally reopen.
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Frank Holmes has been appointed non-executive chairman of the Board of Directors of HIVE Blockchain Technologies. Both Mr. Holmes and U.S. Global Investors personal shares of HIVE. Effective 8/31/2018, Frank Holmes serves because the interim govt chairman of HIVE.
Standard deviation is a measure of the dispersion of a set of information from its imply. The extra unfold aside the info, the upper the deviation. Standard deviation is also referred to as historic volatility.
The S&P 500 Stock Index is a widely known capitalization-weighted index of 500 widespread inventory costs in U.S. firms. The Purchasing Manager’s Index is an indicator of the financial well being of the manufacturing sector. The PMI index is predicated on 5 main indicators: new orders, stock ranges, manufacturing, provider deliveries and the employment setting.
Holdings could change each day. Holdings are reported as of the latest quarter-end. The following securities talked about had been held by a number of accounts managed by U.S. Global Investors as of three/30/2021: Tesla Inc., United Airlines Holdings Inc.
