Fintech PR

HIVE Increasing Hashpower By 585 PH/s By Buying 6,500 High Performance Bitcoin Miners

Published

3 years ago

October 21, 2021

Reading Time: 4 minutes

This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated February 2, 2021 to its short form base shelf prospectus dated January 27, 2021.

Vancouver, British Columbia–(Newsfile Corp. – October 21, 2021) – HIVE Blockchain Technologies Ltd. (TSXV: HIVE) (Nasdaq: HIVE) (FSE: HBF) (the “Company” or “HIVE”) is excited to announce the purchase of 6,500 next generation Bitcoin miners.

These new machines have an aggregate hash power of 585 Petahash per second (PH/s). The integration of these miners into HIVE’s systems will be made in tranches over the next 130 days. They will be placed in existing facilities, and in our newly constructed data centres at our campus in New Brunswick, Canada.

Next Generation Miner Expansion

This new equipment sourced from a top global manufacturer is expected to be received and in operation by the end of February 2022 in 3 tranches, with 3,000 miners in December 2021, 3,100 miners in January 2022 and 400 miners in February 2022.

At the current difficulty and Bitcoin price these purchased miners will generate approximately an additional 3.7 Bitcoin per day, or equivalent to an additional US$250,000 in daily income, or US$7,500,000 in monthly run rate income. Bitcoin continues to have a daily volatility of plus or minus 6% and investors should be aware of this volatility. It is a high risk, high reward investment.

Frank Holmes, Executive Chairman of HIVE stated “We are pleased to be building on our strategic alliances with leading ASIC manufacturer Canaan to achieve our goals and drive value for our shareholders, with executing on a transaction that increases our cash flow and green mining capacity. Frank continued, “HIVE currently has approximately 1.2 Exahash per second (EH/s) of Bitcoin mining capacity, and with this new purchase, HIVE’s Bitcoin ASIC pipeline will be at 2 EH/s by December 2021, and 3 EH/s by March 2022. In addition to this, we are expanding our current active Ethereum mining capacity from approximately 4,000 Gigahash per second (GH/s), to 6,000 GH/s in new facilities in Sweden.”

This announcement is part of our continuing strategy to increase our bitcoin mining capacity. HIVE intends to continue utilizing cash flow to make opportunistic investments in ASIC and GPU next generation mining equipment that can provide positive gross mining margins to generate the highest cash flow per share returns on invested capital.

HODL Strategy

We continue to HODL our Bitcoin production. This new production along with our monthly deliveries of previously announced miners will quickly accelerate building up our Bitcoin reserves. Presently we hold 1,266 Bitcoin in custodial wallets. Our goal of two Exahash (2 EH/s) of pure Bitcoin mining, without factoring in attractive cash flow from Ethereum production conversion, by the end of this calendar year.

About HIVE Blockchain Technologies Ltd.

HIVE Blockchain Technologies Ltd. went public in 2017 as the first cryptocurrency mining company with a green energy and ESG strategy.

HIVE is a growth-oriented technology stock in the emergent blockchain industry. As a company whose shares trade on a major stock exchange, we are building a bridge between the digital currency and blockchain sector and traditional capital markets. HIVE owns state-of-the-art, green energy-powered data centre facilities in Canada, Sweden, and Iceland, where we source only green energy to mine on the cloud and HODL both Ethereum and Bitcoin. Since the beginning of 2021, HIVE has held in secure storage the majority of its ETH and BTC coin mining rewards. Our shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of cryptocurrencies such as ETH and BTC. Because HIVE also owns hard assets such as data centers and advanced multi-use servers, we believe our shares offer investors an attractive way to gain exposure to the cryptocurrency space. HIVE traded over 2 billion shares in 2020.

We encourage you to visit HIVE’s YouTube channel here to learn more about HIVE.

For more information and to register to HIVE’s mailing list, please visit 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 further information please contact:
Frank Holmes
Tel: (604) 664-1078

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-Looking Information

Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian and U.S. securities legislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes but is not limited to, statements with respect to information about the proposed purchase of equipment, including the potential increase in hashpower, the potential for the Company’s long-term growth, and the business goals and objectives of the Company.

Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to: the Company may not complete the purchase of equipment as contemplated or at all; the volatility of the digital currency market; the Company’s ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company’s operations; the volatility of digital currency prices; continued effects of the COVID-19 pandemic may have a material adverse effect on the Company’s performance as supply chains are disrupted and prevent the Company from carrying out its expansion plans or operating its assets; and other related risks as more fully set out in the registration statement of the Company and other documents disclosed under the Company’s filings at www.sec.gov/EDGAR and www.sedar.com.

The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the current profitability in mining cryptocurrency (including pricing and volume of current transaction activity); profitable use of the Company’s assets going forward; the Company’s ability to profitably liquidate its digital currency inventory as required; historical prices of digital currencies and the ability of the Company to mine digital currencies will be consistent with historical prices; and there will be no regulation or law that will prevent the Company from operating its business. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to their inherent uncertainty.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100432

Fintech PR

Heidrick & Struggles Announces 2025 Global and Regional Leader Appointments

Published

4 hours ago

January 6, 2025

CISION (PR Newswire)

The promotions span across six practice areas and three regions to drive growth in 2025 and beyond

CHICAGO, Jan. 6, 2025 /PRNewswire/ — Heidrick & Struggles (Nasdaq: HSII), a premier provider of global leadership advisory and on-demand talent solutions, today announced key global and regional leader appointments, effective January 1, 2025. The appointed leaders will continue advancing the firm’s objective of delivering exceptional value to clients by fostering differentiated, deep, and durable relationships.

“Having the right leadership in place is increasingly crucial to business performance, growth, and prosperity, making our work more important than ever,” said Tom Monahan, CEO, Heidrick & Struggles. “This dynamic group embodies our values as a firm as well as our unwavering commitment to delivering superior client service. We’re excited to promote these outstanding leaders as they continue to shepherd our clients through their most pressing business and talent challenges.”

These leaders span Heidrick & Struggles’ priority practice and solution areas, as well as multiple regions globally.

Individuals appointed to Regional Leader:

Anne Rockey, North America
Richard Guest, Asia Pacific & Middle East

Individual appointed to Global Managing Partner:

Todd Taylor, Client Driven Growth, a newly created role

Individuals appointed to Executive Search Global Practice Managing Partner:

Jaimee Eddington, Corporate Officers Practice
Dominique Fortier, Financial Services Practice
Chris Bray, Global Technology & Services Practice
Gustavo Alba, Co-Lead, Private Equity Practice

Individuals appointed to Executive Search Regional Practice Managing Partner:

Liz Langel, Americas, Financial Services Practice
Ina Sood, Americas, Healthcare & Life Sciences Practice
David Burd, Americas, Corporate Officers Practice
David Crawford, Asia Pacific & Middle East, Global Technology & Services Practice
Tom Cunningham, Europe & Africa, Global Technology & Services Practice
Sarah Driscoll, Europe & Africa, Global Technology & Services Practice
Roman Wecker, Europe & Africa, Industrial Practice

Individuals appointed to Partner-in-Charge:

Jane Xing, Beijing
Jessi Gentile, Chicago
Maliha Jilani, Dubai
Kim Pomoell, Finland
Kiwook Kim, Korea
David Richardson, New York/Stamford
Christina Besozzi Cary, Washington, D.C.

Individual promoted in Heidrick Consulting:

Eric Joseph, leading North America on an interim basis

About Heidrick & Struggles
Heidrick & Struggles (Nasdaq: HSII) is a premier provider of global leadership advisory services and on-demand talent solutions, serving the senior talent and consulting needs of the world’s top organizations. Heidrick & Struggles pioneered the profession of executive search more than 70 years ago. Today, we partner with clients to develop future-ready leaders and organizations, combining our expertise in executive search, leadership consulting, and on-demand, critical talent solutions to achieve the highest levels of profitability and performance. Helping our clients change the world, one leadership team at a time.® www.heidrick.com

Media Contact
Bianca Wilson
Global Director, Public Relations
Heidrick & Struggles
[email protected]

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Fintech PR

Finastra announces leadership transition: welcoming Chris Walters as new CEO

Published

7 hours ago

January 6, 2025

CISION (PR Newswire)

finastra-announces-leadership-transition:-welcoming-chris-walters-as-new-ceo

LONDON, Jan. 6, 2025 /PRNewswire/ — Finastra, a global provider of financial services software applications, today announced a significant leadership transition. After nearly a decade of transformative leadership, Simon Paris will step down from his role as Chief Executive Officer. Chris Walters has joined Finastra and will assume the role of Chief Executive Officer.

Chris brings a wealth of experience from senior executive leadership positions, driving innovation and scaling technology companies. He recently served as CEO of Pluralsight and Avantax, a leading company within Financial Services, where he orchestrated significant performance improvement and the company’s successful sale. Prior to Pluralsight and Avantax, Chris served in a variety of leadership roles, including being a Partner at McKinsey & Company and the COO of Bloomberg Industry Verticals Group.

On his appointment, Chris said, “I’m excited to join Finastra at this pivotal moment in its journey and am impressed by the significant progress that has been made during Simon’s leadership. I look forward to working with the talented team to drive sustainable growth and continue to deliver more value to our customers, team members, and investors.”

Under Simon’s stewardship, the company has achieved remarkable milestones, including:

Leading the charge in Open Finance, following the merger of Misys and D+H in 2017 to form Finastra
Building a loyal customer base of over 8,000 clients in 130 countries, including 45 of the world’s top 50 banks
Achieving recognition as a leader in Generative AI, with all employees upskilled and ~50 capabilities in progress from ideation to production stages
Garnering extensive market accolades, including multiple product, culture, and leadership awards, and being named the #1 Banking Technology company, the #2 Financial Technology company, and appearing in the top 15 Software companies worldwide in 2024 alone
Delivering record financial performance and double-digit Annual Recurring Revenue (ARR) growth

As Finastra embarks on its new strategic sprint in 2025, the company is well-positioned for continued success. During the transition period, Simon and Chris will work closely together to ensure a smooth handover.

Simon reflected on his tenure, saying, “This journey with Finastra has been a privilege. Chris is a seasoned professional, and I am honored to ‘pass the baton’ to him. I leave incredibly proud of what Finastra has achieved so far and excited for the company’s future under Chris’s leadership.”

About Finastra
Finastra is a global provider of financial services software applications across Lending, Payments, Treasury and Capital Markets, and Universal (retail and digital) Banking. Committed to unlocking the potential of people, businesses and communities everywhere, its vision is to accelerate the future of Open Finance through technology and collaboration, and its pioneering approach is why it is trusted by ~8,100 financial institutions, including 45 of the world’s top 50 banks. For more information, visit finastra.com.

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Fintech PR

DXC Technology’s AI Impact Helps Customers Across Industries Innovate with AI

Published

9 hours ago

January 6, 2025

CISION (PR Newswire)

dxc-technology’s-ai-impact-helps-customers-across-industries-innovate-with-ai

AI Impact leverages DXC’s combined consulting, engineering, and secure enterprise services

ASHBURN, Va., Jan. 6, 2025 /PRNewswire/ — DXC Technology (NYSE: DXC), a leading Fortune 500 global technology services provider, today announced AI Impact, an approach designed to help solve customers’ most pressing challenges. By combining DXC consulting, engineering and secure enterprise services, DXC will help clients across industries securely innovate and drive real business outcomes with AI.

DXC takes a pragmatic approach to AI by focusing on developing solutions that solve real world challenges and support business growth. With DXC’s AI Impact, customers benefit from DXC’s vast industry expertise and technology experience to build solutions, services and experiences together that will deliver real business outcomes using the latest technology innovation. Read more about DXC’s approach here.

“AI has already captured the attention and imagination of industries everywhere. From AI agents to autonomous driving and personalized medicine, companies are taking steps to unlock value from AI, which promises to reshape our world,” said Howard Boville, EVP, Consulting & Engineering Services – Powered by AI. “With DXC’s AI Impact approach, we are helping to push the boundaries of what AI makes possible, guided by our team of consulting, engineering and technology experts to address our clients’ most pressing challenges.”

Customers across industries are leveraging AI Impact, including:

Automotive: DXC is helping customers leverage AI-powered diagnostic tools to make it easier for automotive manufacturers and service providers to identify potential issues before they become critical, reducing downtime and maintenance costs. DXC is also helping customers leverage AI to personalize every aspect of a vehicle, including personal assistants that learn a driver’s preferences and habits over time to make more intuitive recommendations.
Public Sector: To provide more transparency, governments are using DXC AI Impact to efficiently engage with citizens and make it easier for them to access public services. This includes the use of AI Agents and AI enhanced processes that streamline and simplify tax, national lending and even public healthcare processes.
Financial Services and Insurance: DXC is helping customers optimize operations, from underwriting and risk assessment to claims processing and customer service. By working with DXC, financial institutions are leveraging chatbots to make it easy for human agents to respond faster and more accurately to customer inquiries by analyzing thousands of documents in minutes with Generative AI.
Healthcare: DXC implemented an AI-powered app to help measure patient symptoms in real-time, analyzing data to provide clinicians with insights that enable more accurate diagnoses and treatment plans, improving the quality of care and proactively addressing prescription resistance.

For more information on DXC AI Impact and how we’re working with the most innovative industry leaders to securely innovate, visit here.

Forward Looking Statements

All statements in this press release that do not directly and exclusively relate to historical facts constitute “forward-looking statements.” These statements represent current expectations and beliefs, and no assurance can be given that any result, goal or plan set forth in any forward-looking statement can or will be achieved. Such statements are subject to numerous assumptions, risks, uncertainties and other factors that could cause actual results to differ materially from those described in such statements, many of which are outside of our control. For a written description of these factors, see the section titled “Risk Factors” in DXC’s Annual Report on Form 10-K for the fiscal year ended March 31, 2024, and any updating information in subsequent SEC filings. Readers are cautioned not to place undue reliance on such statements which speak only as of the date they are made. We do not undertake any obligation to update or release any revisions to any forward-looking statement or to report any events or circumstances after the date of this document or to reflect the occurrence of unanticipated events, except as required by law.

About DXC Technology

DXC Technology (NYSE: DXC) helps global companies run their mission-critical systems and operations while modernizing IT, optimizing data architectures, and ensuring security and scalability across public, private and hybrid clouds. The world’s largest companies and public sector organizations trust DXC to deploy services to drive new levels of performance, competitiveness, and customer experience across their IT estates. Learn more about how we deliver excellence for our customers and colleagues at DXC.com.

CONTACT: Mihir Bellamkonda, Media Relations, [email protected]; Roger Sachs, Investor Relations, [email protected]

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