HIVE Blockchain Offers July 2022 Manufacturing Replace

HIVE Blockchain Applied sciences Ltd.

This information launch constitutes a “designated information launch” for the needs of supplementing the Firm’s February 2, 2021 prospectus with the revised and revamped Brief Kind Base Shelf Prospectus of January 4, 2022.

VANCOUVER, British Columbia, August 05, 2022 (Globe Newswire) — HIV Blockchain Applied sciences Restricted (TSX.V:HIVE) (Nasdaq: Hive) (FSE:HBFA.F) (“The Firm” or “HIVE”) as of July 2022 The corporate is happy to announce manufacturing figures from its world bitcoin and ethereum mining operations for the month, with BTC HODL balances of three,091 bitcoin and 6,820 ethereum as of August 4, 2022.

July 2022 manufacturing figures

HIVE is happy to announce its July 2022 manufacturing figures and mining capability:

  • 279.9 BTC Produced

  • 2.2 Bitcoin mining capability exhaust in early July

  • Bitcoin mining capability elevated to 2.26 exhash within the month of July, with a median hashrate of two.03 exhash of bitcoin mining capability within the month of July

  • 2,957 ETH produced*

  • 5.77 TeraHash of Ethereum mining capability in early July, some miners have been briefly taken offline for structure optimization as a consequence of excessive summer season temperatures

  • 6.49 Terahash of Ethereum Mining Capability on the finish of July, with a median hash fee of 6.19 Terahash of Ethereum Mining Capability throughout the month of July

*The manufacturing of ETH from GPU mining by the corporate (together with selective optimization of GPU hashrate) has resulted in a complete of two,957 ETH manufacturing.

Frank Holmes, Govt Chairman of HIVE, stated, “In July we produced a median of 15.0 bitcoin equivalents per day, which included roughly 9.0 BTC per day and our Ethereum manufacturing of roughly 95 Ethereum per day. We’re happy to study that In the present day we’re producing about 10 BTC along with about 95 Ethereum per day.”

Aydin Kilic, President and COO of HIVE, stated, “We proceed to try for operational excellence, guaranteeing that as we improve our hash fee, we improve our uptime to make sure best Bitcoin and Ethereum output figures.” Customise as properly.” Mr. Kilic continued, “We’d additionally like to offer an replace on BTC and ETH equivalence, the place one can equalize the worth of cash produced day by day. Just like the ETH produced by HIVE throughout the month of July, every day, This equates to a month-to-month complete of roughly 185.2 BTC, which we name the bitcoin equal or BTC equal. That is along with the 279.9 BTC produced from our bitcoin mining operations throughout July, for a complete of 465.1 bitcoin equivalents.”

The corporate’s complete bitcoin equal manufacturing in July 2022 was:

  • 465.1 BTC Equal Produced

  • 15.0 BTC equal produced on common per day

  • 3.77 exhash of BTC equal hash fee (BTC hash fee plus equal ETH hash fee) as of July 31, with a median hashrate of three.36 exhash of BTC equal hash fee all through July

Ethereum Outlook and Technique

The corporate acknowledges that there have been discussions just lately relating to a possible Ethereum “merge” right into a Proof of Stake (“PoS”).

With regard to the PoS timeline, the corporate notes {that a} particular block has not been specified for the Ethereum merge. Till a selected block is recognized and universally accepted by the Ethereum Basis, the corporate believes it’s unsure whether or not or when the merge will happen. For comparability, every bitcoin halving occasion happens at a specifically decided block peak (particularly, each 210,000 blocks).

HIVE acknowledges that there could also be an execution danger in implementing a enterprise technique if Ethereum strikes to PoS, and we consider the demand for GPU based mostly Proof of Work (“PoW”) mining will proceed. As such, the corporate has a method within the occasion of a merger.

HIVE believes that there’s intrinsic worth in a extensively decentralized PoW blockchain with Layer 2 good contracts, as most such tasks exist on the Ethereum blockchain. If NFT and DeFi builders discover {that a} safe PoW Layer 1 blockchain is one of the best taking part in discipline for his or her code-based tasks, then after the merger, Layer 2 purposes on the Ethereum Basic blockchain may develop.

The corporate has begun case research analyzing the hashrate economics of Ethereum Basic and different GPU minable cash on an industrial scale. HIVE can be rolling out GPU optimizations all through Calendar 2022, that are proprietary and provides the corporate a aggressive edge.

If the merger does happen, the corporate expects a aggressive edge to be wanted in technical effectivity as GPU mining is extra concerned than ASIC mining. It is because firms or interest miners who’re one of the best at GPU optimization will prosper. We anticipate GPU mining to have extra algorithm pushed purposes, the place customers can mine a number of cash. This will likely be along with the aggressive edge miners usually search out one of the best power economics, so that they have the bottom working prices per hash generated. GPU miners might want to have a decrease price of hashing, whereas additionally being revolutionary to drive the very best yield (income) per hash by optimization.

The GPU that at present mines Ethereum is just one facet of HIVE’s operations that complement its fleet of bitcoin mining ASICs. HIVE’s GPU fleet consists of two forms of playing cards, our legacy fleet consists principally of the RX580, and different GPUs will be reused for minable cash. The second kind is our knowledge heart grade playing cards, specifically our Nvidia fleet that we introduced final 12 months after we joined the Nvidia associate community; These playing cards produce other purposes in high-performance computing (HPC) purposes. HIVE is growing a brand new platform to generate new income streams for our knowledge heart grade playing cards. The corporate expects to generate new income streams from GPUs, resembling offering HPC providers for rendering, AI, ML, molecular modelling, and many others.

New Brunswick Energy Price

HIVE has navigated a number of months of excessive power costs at its knowledge heart campus in New Brunswick (“NB”), which has affected all companies which might be clients with interruptible power contracts. “Primarily based on annual averages for the previous decade, disrupted power charges in New Brunswick have traditionally been between 3.5 and 4.5 cents USD per KWHR,” Mr Kilick stated. HIVE has about 6 cents per KWHR USD as fastened energy a portion of the whole electrical load in NB. Within the firm’s fiscal This fall 2022 (January to March 2022), the ability charges in NB have been round 12 cents per KWHR for 46MW capability, based mostly on the corporate’s utilization (blended fastened and interruptible energy). Mr Kilic continued “A bonus of being globally diversified, with 6 knowledge facilities in three nations, HIVE’s different amenities take pleasure in an influence price of roughly 3.5 cents per KWHR for an working capability of roughly 54MW.” Considering the typical of HIVE’s world working prices for electrical energy, knowledge heart workers and all amenities upkeep within the fourth quarter of 2022, the whole price was roughly 7.5 cents per KWHR USD, in comparison with revenues of 114MW globally. Common working footprint. $49.8M USD (as famous within the Firm’s audited fiscal 2022 monetary statements), which equates to roughly $0.20 per KWHR. The corporate notes that it was in a position to mine cryptocurrencies profitably throughout these intervals, thus maximizing coin manufacturing.

Since then, the corporate’s common world working prices for electrical energy, knowledge heart workers and upkeep in New Brunswick have improved considerably, as the corporate strategizes to keep away from excessive interruptible electrical energy costs in NB, which have periodically however could contain lowering consumption. in periods of peak barrier power. In Fiscal Q1 2023 (April to June 2022), the corporate’s common electrical energy price in NB has been 7.4 cents per KWHR USD, utilizing a median of about 52MW, and worldwide for electrical energy, knowledge heart workers and upkeep of all amenities. The working price on the degree is round 5.5. Cents per KWHR based mostly on a world common working footprint of roughly 126MW.

community mining issue

The problem of the bitcoin community dropped by 6.5% within the month of July. The problem of the Ethereum community noticed a sudden drop of round 20% on the finish of June, which was adopted by a slight and gradual improve of 1.6% within the month of July. These elements have an effect on our gross revenue margin.

About HIVE Blockchain Applied sciences Ltd.

HIVE Blockchain Applied sciences Restricted went public in 2017 as the primary cryptocurrency mining firm with a inexperienced power and ESG technique.

HIVE is a growth-oriented know-how inventory within the rising blockchain business. As an organization whose shares are traded on a significant inventory change, we’re constructing a bridge between the digital foreign money and blockchain sector and conventional capital markets. HIVE owns state-of-the-art, inexperienced energy-powered knowledge heart amenities in Canada, Sweden and Iceland, the place we’re the one supply of inexperienced power for mining on the cloud on each Ethereum and Bitcoin. For the reason that starting of 2021, HIVE has stored most of its ETH and BTC coin mining rewards in safe storage. Our shares provide traders the working margin of digital foreign money mining in addition to a portfolio of cryptocurrencies resembling ETH and BTC. As HIVE additionally owns tough belongings resembling knowledge facilities and superior multi-use servers, we consider our shares present a pretty approach for traders to realize publicity within the cryptocurrency area.

We encourage you to go to HIVE’s YouTube channel Right here To study extra about HIV.

For extra data and to register on HIVE’s mailing record, please go to, obey @HIVEblockchain on Twitter subscribe extra HIVE’s YouTube Channel,

From HIVE Blockchain Applied sciences Ltd.
“Frank Holmes”
Govt Chairman

For additional data please contact:

frank holmes
Tel: (604) 664-1078

Neither TSX Enterprise Change nor its regulation service supplier (as outlined in TSX Enterprise Change’s insurance policies) accepts accountability for the adequacy or accuracy of this information launch.

forward-looking data

Besides as statements of historic truth, this information launch comprises “additional data” inside the that means of relevant Canadian securities legislation which relies on expectations, estimates and estimates as on the date of this information launch. The “going ahead data” on this information launch consists of, however shouldn’t be restricted to, the corporate’s enterprise objectives and targets; and different forward-looking data regarding the intentions, plans and future actions of the events to the Transactions described herein and the phrases thereon.

Components that would trigger precise outcomes to vary materially from these described in such forward-looking data embrace, however should not restricted to, the volatility of the digital foreign money market; The corporate’s potential to efficiently mine digital foreign money; The Firm could not be capable of profitably liquidate its present digital foreign money stock as wanted or in any respect; A pointy drop in digital foreign money costs may have a big unfavorable impression on firm operations; volatility of digital foreign money costs; The continued impression of the COVID-19 pandemic could adversely have an effect on the efficiency of the Firm as provide chains are disrupted and forestall the Firm from finishing its growth plans or working its belongings; and different associated dangers as absolutely set out within the firm’s registration assertion and different paperwork disclosed beneath the corporate’s filings And,

The forward-looking data on this information launch displays the Firm’s present expectations, beliefs and/or beliefs based mostly on the knowledge at present accessible to the Firm. In reference to the forward-looking data contained on this information launch, the Firm has made assumptions concerning the Firm’s targets, objectives or future plans, its timing and associated issues. The corporate additionally acknowledges that no materials occasion takes place outdoors the conventional enterprise of the corporate. Though the Firm believes that the assumptions contained in forward-looking data are cheap, forward-looking data shouldn’t be a assure of future efficiency and accordingly, undue reliance shouldn’t be positioned on such data as a result of inherent uncertainty.

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