Vancouver, British Columbia, May 04, 2022 (Newsfile Corp via COMTEX) -- This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated February 2, 2021 to its amended and restated short form base shelf prospectus dated January 4, 2022.
Vancouver, British Columbia--(Newsfile Corp. - May 4, 2022) - HIVE Blockchain Technologies Ltd. (tsx.v:HIVE) /zigman2/quotes/208543683/composite HIVE +1.39% (the "Company" or "HIVE") is pleased to announce the production figures from the Company's global Bitcoin and Ethereum mining operations for the month of April 2022, with a BTC HODL balance of 2,832 Bitcoin and 15,914 Ethereum as of May 2, 2022. In addition, the Company is providing an update on our continued operational scaling with renewable green energy.
April 2022 Production Figures
HIVE is pleased to announce its April 2022 production figures and mining capacity:
268.8 BTC Produced
2.0 Exahash of Bitcoin mining capacity at beginning of April
Increased to 2.15 Exahash of Bitcoin mining capacity at end of April
2,537 ETH Produced*
6.1 Terahash of Ethereum mining capacity at beginning of April
Increased to 6.26 Terahash of Ethereum mining capacity at end of April
*The Company's production of ETH from GPU mining (including selective optimizations of GPU hashrate) has yielded a total ETH production of 2,537 ETH.
Frank Holmes, Executive Chairman of HIVE stated "We are very pleased to report HIVE has continued its strong momentum in hashing power expansion, notably our Bitcoin mining hash power grew by 8% this month, through ongoing optimizations and electrical upgrades. In April we produced an average of 9.0 BTC per day, and we are pleased to note that as of today, we are producing approximately 9.2 BTC a day even after the recent difficulty increase of 5.5%."
Aydin Kilic, President & COO of HIVE noted "We continue to strive for operational excellence, ensuring that as we scale our hashrate as a company we also optimize our uptime, to ensure ideal Bitcoin and Ethereum output figures. Mr. Kilic continued, "We also would like to provide an update on the BTC and ETH equivalency, where one can equate value of the coins produced daily. As such the ETH that HIVE produced during the month of April, calculated on a daily basis, is approximately equal a monthly total of 189.5 BTC, which we refer to as Bitcoin equivalent or BTC equivalent. This is in addition to the 268.8 BTC produced from our Bitcoin mining operations during April, for a total of 458.3 Bitcoin equivalent"
The Company's total Bitcoin equivalent production in April 2022 was:
458.3 BTC Equivalent Produced
15.3 BTC Equivalent produced per day on average
3.4 Exahash of BTC Equivalent Hashrate (BTC hashrate plus equivalent ETH Hashrate as of April 30)
Successful Green Energy Scaling Through Supply Disruptions
HIVE is pleased to provide a market update on the Company's growth plans for the year ahead. The Company will be at 6.2 Exahash BTC equivalent hashrate in one year, based on contracted monthly deliveries of ASIC and GPU hardware (with deposits in place), up from 3.4 Exahash of BTC equivalent hashrate today.