Geometry Dash APK Hill Climb Racing APK
82.4 F
New York
Sunday, June 20, 2021

HIVE Blockchain Technologies (OTCMKTS:HVBTF) Hits New High On Crypto Rally

Must read

VIVO Cannabis Inc (OTCMKTS:VVCIF) Stock Turns Volatile: Uptrend in Jeopardy

Anyone watching the market knows the cannabis sector has been booming again. Since the start of the year, the cannabis sector has...

Auxly Cannabis Group Inc (OTCMKTS:CBWTF) Attempts To Recover After The Recent Move

Among the many sectors that have made a comeback in the stock markets this year, the comeback made by the cannabis sector...

Artificial Intelligence Technology Solutions (OTCMKTS:AITX) Looks RAD: Extends Rally

The artificial intelligence space has grown at a highly impressive rate over the past few years and nowadays, investors are increasingly looking...

Tesoro Enterprises, Inc. (OTCMKTS:TSNP) In Focus: Continues to Hit New Highs

If you are looking for stocks that have managed to record significant gains over the past couple of months or so then...

The rally in Bitcoin has been one of the biggest stories in the year and on Tuesday; the world’s biggest cryptocurrency by market cap was not far from its all-time highs. It went past the $19,000 mark today and could soon hit its all-time high of $20,000 a token.

Major Triggers

The rise in the price of Bitcoin has also come as a boon for many cryptocurrency companies and one of those is the Canadian company HIVE Blockchain Technologies Ltd (OTCMKTS:HVBTF). It is involved in the mining of Bitcoin and the continued rally is only going to lead to higher rewards for miners. In such a situation, it could be worthwhile for investors to take a look at HIVE a bit more closely.

The company, which already expanded its mining capabilities earlier this month, made a major announcement on Tuesday. It announced that it signed an MoU (Memorandum of Understanding) of a non-binding nature with GPU One Holding Inc.

The deal is aimed at expanding the presence of HIVE in the cryptocurrency space. There is no doubt that it is a key development for the company. As part of the MoU signed between the two companies, HIVE is going to acquire the entirety of shares in GPU Atlantic.

It will see HIVE taking charge of the data center owned by GPU Atlantic located in Grand Falls in New Brunswick. It should be noted that the final price for the acquisition is going to be decided after a definitive agreement and the due diligence are completed. The data center is going to allow HIVE to have easy access to environmentally friendly low-cost power to the tune of 50 megawatts.

Considering the amount of power that is needed for Bitcoin mining, it represents a step in the right direction for HIVE. If the price of Bitcoin continues to rise then its mining operation could result in significant revenues for HIVE. 

Latest article

American Diversified Holdings Corp (OTCMKTS:ADHC) Nears Critical Level

When a stock records significant gains and then crashes and repeats over the course of a few months, then it might be...

Reconnaissance Energy Africa Ltd (OTCMKTS:RECAF) Gathers Further Momentum

If you are currently looking for stocks that may have recorded massive gains within a short period of time, then it might...

Is Tilray Inc (NASDAQ:TLRY) Stock a Good Buy After The Recent Fall?

The cannabis sector may have had a hard time not too long ago but over the course of the past months, the...

Sysorex Inc (OTCMKTS:SYSX) Stock Still Riding Big News

Investors are always drawn to stocks that make a big jump out of nowhere. So it's no surprise that Sysorex Inc (OTCMKTS:SYSX)...

BIGG Digital Assets Inc (OTCMKTS:BBKCF) is Struggling to Regain Momentum

Over the course of the past few months, the continued rally in some of the biggest cryptocurrencies has led to considerable interest...
Şehirler arası nakliyat ve Şehirler arası taşımacılık konusunda en uygun fiyatlar ve en kaliteli hizmet.
ofis taşıma firmaları ve ofis taşıma konusunda en uygun fiyatlar ve en kaliteli hizmet.
SmsVerifyer.com Affordable best sms verification service