It should be noticed that HIVE Blockchain Technologies Ltd (OTCMKTS:HVBTF) just recently announced that it will become a development partner in the Boden Type Data Center (BTDC) research project, a European Union-funded project with the key objective of demonstrating a range of highly innovative key engineering principles to construct the most cost- and energy-efficient data centers with minimal environmental impact.
According to the release, the BTDC was awarded the prize of Non-Profit Industry Initiative of the Year by Data Center Dynamics in December 2019. The Company also announces that due to circumstances created by the COVID-19 global pandemic, the Company will not be filing its audited financial statements for the year ended March 31, 2020 by the scheduled due date of July 29, 2020 and will be relying on the 45-day extension period provided to issuers by Canadian regulators; it expects to complete its filings during August.
HIVE Blockchain Technologies Ltd (OTCMKTS:HVBTF) trumpets itself as a company that operates in the cryptocurrency mining space.
It engages in the mining and sale of digital currencies, such as Ethereum, Ethereum Classic, and ZCash.
The company was formerly known as Leeta Gold Corp. and changed its name to HIVE Blockchain Technologies Ltd. in September 2017. HIVE Blockchain Technologies Ltd. was incorporated in 1987 and is headquartered in Vancouver, Canada.
According to company materials, “HIVE Blockchain Technologies Ltd. is a growth oriented, TSX.V-listed company building a bridge from the blockchain sector to traditional capital markets. HIVE is strategically partnered with Genesis Mining Ltd. to build the next generation of blockchain infrastructure. HIVE owns state-of-the-art GPU-based digital currency mining facilities in Iceland and Sweden, which produce newly minted digital currencies like Ethereum continuously as well as cloud-based ASIC-based capacity which produces newly minted digital currencies like Bitcoin. Our deployments provide shareholders with exposure to the operating margins of digital currency mining as well as a growing portfolio of crypto-coins.”
Find out when $HVBTF reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.
As noted above, HVBTF just announced that it will become a development partner in the Boden Type Data Center (BTDC) research project, a European Union-funded project with the key objective of demonstrating a range of highly innovative key engineering principles to construct the most cost- and energy-efficient data centers with minimal environmental impact.
The chart shows 57% piled on for shareholders of the listing during the trailing month. Furthermore, the stock has witnessed a pop in interest, as transaction volume levels have recently pushed nearly 220% above its longer-run average levels.
“Our mission at HIVE is to provide High Performance Computing capacity with environmental responsibility,” said Tobias Ebel, Board Director, HIVE. “Our past achievements have been very good, but the BTDC presents an opportunity to set new standards for this sector. We are targeting a PUE of <1.01 in the BTDC with a plan to apply this in both new projects and retrospectively incorporate these techniques and processes into our existing facilities.”
Currently trading at a market capitalization of $126M, HVBTF has a significant war chest ($12.4M) of cash on the books, which compares with about $7.4M in total current liabilities. HVBTF is pulling in trailing 12-month revenues of $42.9M. However, the company is seeing declines on the top-line on a quarterly y/y basis, with revenues falling at -40.8%. We will update the story again soon as further details emerge. Sign-up for continuing coverage on shares of $HVBTF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $HVBTF, either long or short, and we have not been compensated for this article.