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Hive Blockchain Technology

10 Posts
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  1. [verwijderd] 10 december 2020 20:26
    HIVE Blockchain Reports Record Quarterly Revenue and Cash Flow, with Operating Income of $9 Million, in Second Quarter F2021
    9 days ago
    VANCOUVER, BC / ACCESSWIRE / November 30, 2020 / HIVE Blockchain Technologies Ltd. (TSX.V:HIVE)(OTCQX:HVBTF)(FSE: HBF) (the "Company" or "HIVE") announces its results for the second quarter ended September 30, 2020 (all amounts in US dollars, unless otherwise indicated).

    Revenue from digital currency mining was $13.0 million, an 8% increase from the same quarter last year. Record cash flow of $10.6 million, up significantly from a loss of $4.6 a year earlier. Gross mining margin expanded to $9.2 million, from a loss of more than $560,000 last year. Net income per share grew to $0.03 from a loss of $0.04 during the period ended September 30.

    "I'm thrilled to see how well HIVE has done since we settled all disputes with Genesis Mining in June 2019," comments Frank Holmes, Interim Executive Chairman of HIVE. "We've been able to drive down costs, which has led to the highest cash flow in any one quarter since HIVE went public three years ago. This, coupled with higher Ethereum and crypto prices, means that the Company is doing better now than ever before.

    "2020 has been marked by healthy expansion in mining capacity, the most recent example being HIVE's potential acquisition of a data center campus in Grand Falls, New Brunswick, that would give the company access to an additional 50 megawatts (MW) of low-cost green energy. Additionally, we recently locked in 50% of our energy costs for calendar 2021 at 1.6 cents per kilowatt hour in Sweden. This data point is one of the lowest in the blockchain mining ecosystem as well as in green energy.

    "As we explained back in September of this year, the Company produced a record number of Ethereum coins through the continued strong usage of the blockchain network, notably decentralized finance ("DeFi") applications. In the quarter ended September 30, HIVE mined over 32,800 Ethereum and 88,300 Ethereum Classic coins. This represents a significant increase from the 25,000 Ethereum mined in the previous quarter, and a more than 50% increase compared to the same period last year."

    "HIVE is the only public crypto mining company producing Ethereum on an industrial scale, sourcing green energy from facilities in Sweden and Iceland. With the explosion in DeFi, which has increased the demand for Ethereum, and now the debut of Ethereum 2.0, which will shrink the supply of Ethereum, we are in a very attractive position," continues Mr. Holmes.

    Q2 F2021 Highlights

    Generated income from digital currency mining of $13.0 million, an increase of 8.2% year-over-year
    Generated gross mining margin[1] of $9.2 million, or 71% of income from digital currencies
    Mining output of newly minted digital currencies:
    32,800 Ethereum
    88,300 Ethereum Classic
    89 Bitcoin
    Generated Adjusted EBITDA1 of $10.6 million, a significant increase from a loss of $4.6 million a year earlier
    Generated net income of $9.2 million for the period, or $0.03 per share, compared to a loss of $11.5 million, or $0.04 per share, last year
    Net cash less loans payables of $1.7 million plus digital currencies assets of $10.7 million, as at September 30, 2020
    Working capital was $20.9 million as at September 30, 2020
    Q2 F2021 Financial Review

    For the three months ended September 30, 2020, income from digital currency mining was $13.0 million, an increase of 8.2% from the prior comparative quarter. The increase was primarily due to an increased number of Ethereum coins mined during the current quarter and a realization of higher average Ethereum prices than the prior comparative quarter.

    Gross mining margin1 during the quarter was $9.2 million, or 71% of income from digital currency mining, compared to a loss of $563,839, or 5% of income from digital currency mining, in the same period in the prior year.

    Net income during the quarter ended September 30 was $9.2 million, or $0.03 per share, compared to a loss of $11.5 million, or $0.04 per share, in the prior year period. The increase was primarily due to a significant reduction of operational costs experienced since the Company has shifted from the former service provider over the past year.

    Three months ended
    September 30, Six months ended
    September 30,
    2020 2019 2020 2019
    Income from digital currency mining
    $ 12,989,592 $ 12,007,978 $ 19,569,874 $ 21,131,608
    Operating and maintenance costs of digital currency mining
    (3,780,716 ) (12,571,817 ) (7,767,987 ) (18,126,792 )
    Gross Mining Margin1
    9,208,876 (563,839 ) 11,801,887 3,004,816
    Gross Mining Margin %1
    71 % -5 % 60 % 14 %
    Depreciation
    (1,796,774 ) (1,252,072 ) (3,426,643 ) (2,505,029 )
    Gross gain (loss)
    7,412,102 (1,815,911 ) 8,375,244 499,787
    Revaluation of digital currencies2
    993,902 (4,806,346 ) 2,319,766 (1,912,515 )
    Gain (loss) on sale of digital currencies
    1,729,821 (589,404 ) 2,477,287 153,721
    Hosting revenues
    191,800 - 191,800 -
    General and administrative expenses
    (183,660 ) (1,366,341 ) (1,128,220 ) (2,665,456 )
    Foreign exchange
    (302,943 ) (2,052,200 ) (85,418 ) (3,162,619 )
    Share-based compensation
    (514,438 ) (15,019 ) (910,427 ) (308,899 )
    Realized (loss) gain on investments
    - (828,044 ) - 1,531,464
    Finance expense
    (115,611 ) (53,557 ) (230,365 ) (107,522 )
    Net income (loss) from continuing operations
    $ 9,210,973 $ (11,526,822 ) $ 11,009,667 $ (5,972,039 )
    EBITDA1
    $ 11,123,358 $ (9,393,149 ) $ 14,666,675 $ (4,890,952 )
    Adjusted EBITDA1
    $ 10,643,894 $ (4,571,784 ) $ 13,257,336 $ (2,669,538 )
    Diluted income (loss) per share
    $ 0.03 $ (0.04 ) $ 0.03 $ (0.02 )
    Net cash inflows from operating activities
    $ 5,442,119 $ 294,969 $ 5,915,421 $ 1,188,093
    Net cash inflows (outflows) from investing activities
    $ (412,372 ) $ - $ (4,095,324 ) $ -
    Net cash inflows (outflows) from financing activities
    $ (288,374 ) $ 83,168 $ (554,483 ) $ 306,712
    As at
    September 30, 2020 March 31, 2020
    Total assets
    $ 46,686,214 $ 29,104,363
    Total non-current liabilities
    $ 1,540,462 $ 775,480
    Non-IFRS measure. A reconciliation to its nearest IFRS measures is provided under "Reconciliations of Non-IFRS Financial Performance Measures" in the Company's MD&A.
    Revaluation is calculated as the change in value (gain or loss) on the coin inventory. When coins are sold, the net difference between the proceeds and the carrying value of the digital currency (including the revaluation), is recorded as a gain (loss) on the sale of digital currencies
    ­Financial Statements and MD&A
  2. [verwijderd] 10 december 2020 20:28
    HIVE Blockchain Has Entered into an Agreement to Buy GPU.Ones New 50 MW Campus of Data Centres in New Brunswick
    November 23, 2020
    VANCOUVER, BC / ACCESSWIRE / November 23, 2020 / HIVE Blockchain Technologies Ltd. (TSX.V:HIVE)(OTCQX:HVBTF)(FSE:HBF) (the "Company" or "HIVE") is excited to announce that it has entered into a non-binding, exclusive memorandum of understanding ("MOU") with GPU.One Holding Inc. ("GPU.One") to expand HIVE's Canadian footprint through the potential purchase of GPU Atlantic Inc. ("GPU Atlantic").

    Pursuant to the MOU, HIVE would purchase 100% of the GPU Atlantic shares (the "Proposed Transaction"). The eventual purchase price is dependent on the negotiation of a definitive agreement, including a formal purchase agreement, and the completion of a satisfactory due diligence process.

    "We are excited about this opportunity for HIVE to expand our Canadian footprint through the acquisition of this data centre campus which has access to 50 megawatts ("MW") of low-cost green power in Grand Falls, New Brunswick," said Frank Holmes, Interim Executive Chairman of HIVE. Mr. Holmes added, "Further, and important to building our vision, is the GPU.One team of young, skilled and proven data centre professionals with deep high density data centre build out and maintenance experience who will take on executive positions within HIVE's organization."

    In connection with this Proposed Transaction, the Company has retained Canaccord Genuity Corp. to act as advisor and assist with due diligence.
  3. [verwijderd] 10 december 2020 20:29
    DMG Adds HIVE as a Hosting Client and Sells 1,240 M30s Miners
    V.DMGI | November 6, 2020
    VANCOUVER, British Columbia, Nov. 06, 2020 (GLOBE NEWSWIRE) -- DMG Blockchain Solutions Inc. (TSX-V: DMGI) (DMGGF:OTC US) (FRANKFURT:6AX) (“DMG” or the “Company”), a diversified blockchain and technology company, is pleased to announce it has added HIVE as a hosting client, and sold 1,240 M30s miners.

    Highlights:

    DMG sells 1,240 M30s miners to HIVE in an all cash transaction for USD$3.4 Million

    DMG to host miners at the Company’s Christina Lake facility

    DMG to soon provide detail on its strategy to achieve its self-mining goals with latest technology miners
    DMG is pleased to announce the sale of 1,240 M30s miners to Hive Blockchain Technologies Ltd. (TSXV: HIVE) (OTCQX: HVBTF) (FSE: HBF) (the "Company" or "HIVE") in an all cash transaction for USD$3.4 million. Hive's new miners will be hosted by DMG at the Company's facility in Christina Lake BC.

    HIVE is one of the leading North American-based digital currency miners and was one the first mining companies to publicly list on a major stock exchange.

    DMG has had business discussions with HIVE in the past, but this transaction represents the first hardware sale and hosting agreement between the companies. Proceeds will be used to pay equipment financing charges and to potentially secure DMG’s upcoming mining fleet.

    Dan Reitzik, "DMG is excited to add Hive as a new hosting client and partner. This transaction strengthens DMG's balance sheet as we continue to work towards our self-mining goals, and to ensure DMG's fleet continues to be newest generation technology. We will provide an update detailing our miner purchase strategy in the near future".

    About DMG Blockchain Solutions Inc.

    DMG is a diversified cryptocurrency and blockchain platform company which is focused on the two primary opportunities in the sector – mining public blockchains and applying permissioned blockchain technology. DMG focuses on mining bitcoin, providing hosting services for industrial mining clients, earning revenues from block rewards and transaction fees, developing data analytics and forensic software products, working with auditors, law firms, and law enforcement to provide technical expertise. DMG’s permissioned blockchain technology is focused on developing enterprise software for the supply chain management of controlled products. DMG’s strategy is to become the domain experts across the business verticals it focuses on. DMG’s management team includes seasoned crypto experts, forensic & financial professionals and blockchain developers with deep relationships throughout the industry, with previous experience working at Bitfury, PwC, EY, Cisco and UBS.
  4. [verwijderd] 10 december 2020 20:33
    A $345 Billion Giant Is About to Bet on Bitcoin!
    Vishesh Raisinghani
    December 8, 2020, 11:00 pm
    Big Bitcoin logo.
    Big Bitcoin logo.
    Bitcoin is trading near an all-time high. It has caught the attention of major investors and massive tech companies this year. Now, demand is so high that experts believe Bitcoin could shoot past its previous record. This seems to have caught the attention of one of the largest asset management firms in the world: Guggenheim Partners.

    The Guggenheim Bitcoin bet

    With over US$270 billion (CA$345 billion) in assets under management, Guggenheim is a titan of the investment world. Its investments are usually focused on real estate, private equity, and fixed-income strategies. Like any other Wall Street titan, Blackrock’s approach is highly sophisticated, well-diversified, and low risk.

    However, that doesn’t mean there’s no space for a little adventure. This month, the company filed an amendment with the United States Securities Exchange Commission. This amendment would allow Guggenheim’s Macro Opportunities Fund to add Bitcoin exposure. If it’s passed, the US$5 billion fund could put up to 10% of its assets into Bitcoin.

    In short, investors should expect nearly US$487 million to flow into the cryptocurrency from this one fund alone. And it’s not the only major investment firm to show interest.

    Wave of smart money
    Institutional investors, the so-called smart money, have been gradually changing their tone about Bitcoin. Larry Fink, the CEO of Blackrock, for instance, called Bitcoin risky and unproven a few years ago. This year, he said the asset could “potentially replace gold” and was going global, which was impacting the value of the U.S. dollar.

    Meanwhile, billionaire hedge fund managers Stanley Druckenmiller and Paul Tudor Jones II have already added exposure to Bitcoin. Visa partnered with BlockFi to release the Bitcoin Rewards Visa Credit Card, while PayPal and Square have been adding crypto features, too.

    Altogether, there’s a wave of interest and money flowing into the market like never before. This surge in enthusiasm could push the digital currency to new heights. The good news is that retail investors like you and I don’t need to wait for regulatory approval to start buying.

    Buy Bitcoin
    You can directly purchase and hold Bitcoin in your portfolio. But for most investors, this may be too technical or too risky. Instead, you could bet on a Bitcoin mining company that is publicly listed in Canada.

    HIVE Blockchain Technologies (TSXV:HIVE) is a good example. The company operates server farms that generate new Bitcoin. Think of it as a digital mining company. Some of the newly generated cryptocurrency is sold at market value to reinvest and expand the business. The rest is held in reserve.

    This model means the rising value of Bitcoin magnifies HIVE’s value. HIVE’s reserves are currently worth millions of dollars. At the end of September 2020, the company reported US$3.5 million in digital assets, including Ethereum and Bitcoin. This reserve is certainly worth more now that the value of both currencies is on the rise.

    Effectively, this stock is a convenient proxy for cryptocurrency exposure. The stock price is up 1,588% year to date.

    Bottom line
    You can bet on Bitcoin before these major asset managers. Mining stocks like HIVE Blockchain Technologies could be great for exposure.

    The post A $345 Billion Giant Is About to Bet on Bitcoin! appeared first on The Motley Fool Canada.
  5. [verwijderd] 27 december 2020 11:07
    Hive and Bitcoin
    From my webcast notes: Frank was talking about 1000 pth bitcoin next year. Now 300 pth. Roughly now 2,5 bitcoins per day. With 1000 pth 8,33 per day (3040 year). Depends on the hasrate off course.

    Verder minen ze daarnaast Ethereum (ongeveer 30.000) en Ethereum Classic. Ze zijn de grootste beursgenoteerde ETH en ETC miner.

    Komende dinsdag een big GAP up op de beurs in Canada...
  6. [verwijderd] 3 januari 2021 00:23
    Maandag laatste kans om voor een aantrekkelijke prijs in te stappen! Grootste beursgenoteerde Ethereum miner. Ook groot in Bitcoin en Ethereum Classic mining. Overname GPU.One binnenkort afgerond. Eind deze maand alle GPU 4gb chips vervangen door 8gb (Ethereum). Goede fundamentals, financials, groei en nettowinst. Don't miss out.
  7. [verwijderd] 10 januari 2021 07:23
    Crypto on fire. Dat wordt een mooie maandag. Zo te zien moet men hier op IEX nog wakker worden. Al even exploderende koersen en hier wordt ee nog nauwelijks over gesproken. HIVE Blockchain Technology (V.HIVE) een pareltje om in te stappen op de Canadese beurs. Groot in Ethereum, Bitcoin en Ethereum Classic...
  8. forum rang 7 JP Samosa 10 januari 2021 09:54
    quote:

    gatekeeper schreef op 10 januari 2021 07:23:

    Crypto on fire. Dat wordt een mooie maandag. Zo te zien moet men hier op IEX nog wakker worden. Al even exploderende koersen en hier wordt ee nog nauwelijks over gesproken. HIVE Blockchain Technology (V.HIVE) een pareltje om in te stappen op de Canadese beurs. Groot in Ethereum, Bitcoin en Ethereum Classic...
    Klopt. Op iex lees je hier nauwelijks over crypto. Dat is jammer.
    Heb n keer n gokje met Riot gedaan. Dat schoot toen niet op. Maar weer verkocht, en is nu vertienvoudigd......tja.....
    Een instapmoment nu is wel lastig op deze hoogte. De grootste stijging lijkt afgelopen week geweest
    Kan dit jaar verdubbelen of halveren.....geen idee.

  9. forum rang 10 DeZwarteRidder 11 mei 2022 21:52
    HIVE gaat voor omgekeerde aandelensplitsing
    11-05-2022 13:30 - Vijf aandelen voor één nieuw aandeel.

    (ABM FN-Dow Jones) HIVE Blockchain Technologies heeft een omgekeerde aandelensplitsing voorgesteld. Dit liet het Canadese cryptobedrijf woensdag weten.

    Vijf bestaande aandelen worden in dit plan samengevoegd tot één nieuw aandeel.

    Hierdoor daalt het aantal uitstaande aandelen van 411 miljoen naar ruim 82 miljoen.

    De operatie zal op 20 mei plaatsvinden.

    CEO Frank Holmes hoopt dat de hogere koers, die het gevolg is van de samenvoeging, meer aandacht van beleggers trekt. Uiteraard is de hogere koers louter optisch, de marktkapitalisatie van HIVE verandert niet.

    Door: ABM Financial News.
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