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HIVE Blockchain Provides January 2022 Production Update
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. – February 4, 2022) – HIVE Blockchain Technologies Ltd. (TSXV: HIVE) (Nasdaq: HIVE) (FSE: HBF) (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 January 2022, with a BTC HODL balance of 2,043 Bitcoin and 25,404 Ethereum as of January 31, 2022.
January 2022 Production Figures
HIVE is pleased to announce its January 2022 production figures and mining capacity:
- 264 BTC Produced
- 1.87 Exahash of Bitcoin mining capacity
- 2,170 ETH Equivalent Produced
- 4.56 Terahash of Ethereum mining capacity
Frank Holmes, Executive Chairman of HIVE stated “We are again pleased that HIVE carries on with its strong momentum in expanding Bitcoin hashing power even as the network difficulty continues its upward movement. In January we produced an average of 8.5 BTC per day, and we are pleased to note that as of today, we are producing approximately 8.9 BTC a day. Our Bitcoin hashing power increased in January and at the calendar month-end our hashrate was 1.87 Exahash, which translated into a 10% increase in BTC mining hashrate on a month over month basis, while BTC prices corrected.”
Aydin Kilic, President & COO of HIVE noted “We continue to strive for operational excellence, ensuring that as we scale our hashrate 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 the value of the coins produced daily. As such the ETH that HIVE produced during the month of January, equated on a daily basis, is approximately equal to a monthly total of 161 BTC, which we refer to as Bitcoin equivalent or BTC equivalent. This is in addition to the 264 BTC produced from our Bitcoin mining operations during January, for a total of 425 Bitcoin equivalent.”
The Company’s total Bitcoin equivalent production in January 2022 was:
- 425 BTC Equivalent Produced
- 13.7 BTC Equivalent produced per day on average
- 2.9 Exahash of BTC Equivalent Hashrate (BTC hashrate plus equivalent ETH Hashrate)
Network Mining Difficulty and Energy Markets
The Bitcoin network difficulty increased as much as 10% and similarly the Ethereum network difficulty increased approximately 7.5% during the month of January. These factors impact our gross profit margins. Our January production would have been higher than actuals, however the extremely cold weather in Canada has caused Quebec Hydro to cut back 100 hours of energy consumption, under a curtailment agreement. This seasonal curtailment affects numerous crypto-mining companies operating in Quebec, along with HIVE. In addition, in New Brunswick we are experiencing, as expected, a temporary seasonal rise in energy prices. We are happy we have continued to expand our facilities and new equipment has arrived during the month to increase our PH to 1.87 Exahash for BTC mining.
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.
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 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, business goals and objectives of the Company; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, 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 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 Company’s objectives, goals or future plans, the timing thereof and related matters. 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 the inherent uncertainty therein.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/112783
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French fintech Lydia launches digital banking app Sumeria
Lydia, a prominent French fintech company known for its innovative financial solutions, has taken a significant leap forward with the launch of its new digital banking app, Sumeria. This development marks a strategic expansion for Lydia as it continues to redefine the financial landscape in Europe and beyond.
About Lydia
Since its inception, Lydia has been at the forefront of fintech innovation in France, providing users with seamless and user-friendly payment solutions. The company has built a strong reputation for its mobile payment app, which allows users to send and receive money, pay for goods and services, and manage their finances with ease. With millions of users and a robust platform, Lydia is well-positioned to venture into the digital banking space.
Introducing Sumeria
Sumeria is Lydia’s latest offering, designed to cater to the growing demand for comprehensive digital banking solutions. The app aims to provide users with a full suite of banking services, all accessible from their smartphones. Key features of Sumeria include:
- Personal and Business Accounts: Sumeria offers both personal and business accounts, enabling users to manage their finances efficiently. The app supports a range of functionalities tailored to meet the needs of individual users and small to medium-sized enterprises (SMEs).
- Intuitive Interface: True to Lydia’s commitment to user experience, Sumeria boasts an intuitive and easy-to-navigate interface. Users can quickly access account information, transaction history, and various banking services with just a few taps.
- Comprehensive Financial Tools: Sumeria provides a range of financial tools designed to help users better manage their money. Features such as budgeting, expense tracking, and personalized financial insights empower users to make informed financial decisions.
- Security and Privacy: Lydia places a high priority on security, and Sumeria is no exception. The app incorporates advanced security measures, including biometric authentication and end-to-end encryption, to ensure that users’ financial data is protected.
- Integrated Payments: Leveraging Lydia’s expertise in payments, Sumeria integrates seamless payment solutions, allowing users to send and receive money instantly, pay bills, and make purchases directly from the app.
Strategic Implications
The launch of Sumeria represents a strategic move for Lydia, positioning the company as a formidable player in the digital banking arena. By expanding its product offering, Lydia aims to capture a larger share of the market and meet the evolving needs of its users. This initiative also reflects a broader trend in the fintech industry, where traditional payment service providers are evolving into comprehensive financial service platforms.
Market Impact
Sumeria’s entry into the market is poised to have a significant impact. With its user-centric design and robust feature set, the app is likely to attract a diverse user base, from tech-savvy millennials to SMEs seeking efficient banking solutions. Moreover, Sumeria’s integration with Lydia’s existing payment infrastructure provides a seamless transition for current Lydia users, further boosting its adoption.
Future Prospects
Looking ahead, Lydia plans to continually enhance Sumeria by adding new features and expanding its services. The company’s focus on innovation and customer satisfaction will be key drivers of Sumeria’s growth. Additionally, Lydia’s potential to scale Sumeria across other European markets presents a substantial opportunity for further expansion.
Source: fintechfutures.com
The post French fintech Lydia launches digital banking app Sumeria appeared first on HIPTHER Alerts.
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