CryptoNewsBreaks – HIVE Blockchain Technologies Ltd. (NASDAQ: HIVE) (TSX.V: HIVE) (FSE: HBFA) Issues December 2022 Production Update
HIVE Blockchain Technologies (NASDAQ: HIVE) (TSX.V: HIVE) (FSE: HBFA) today announced production figures from its global bitcoin (“BTC”) operations for the month of December 2022 and the calendar year 2022. The company reportedly produced 213.8 bitcoin in December, plus USD $3.15 million of income from its energy price hedging and grid balancing strategy. Additionally, HIVE produced crypto assets with a value of 4,752 bitcoin (based on daily average price of BTC) in 2022, which is an 18% increase from the prior year. “We are very happy to be producing over 213 bitcoin this month, while also earning over USD $3 million this month from our grid balancing and energy sale initiatives,” said HIVE Executive Chairman Frank Holmes. “HIVE was the first public crypto mining company to set up an energy price hedging and grid balancing strategy. Our strategy to manage volatile energy prices and provide a standby agreement with the utility company has been active for the past couple of years in Sweden. HIVE is a key player in the great digital transformation wave, from being the first public company to mine digital assets, to having a green strategy, and to innovate with additional revenue streams. Our agile leadership style is focused on being innovative and quick to pivot since we mine digital assets that are extremely volatile. In addition to the European partnerships we have, our internal technical team has developed proprietary software to manage our fleet of ASIC miners across three countries.”
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About HIVE Blockchain Technologies Ltd.
HIVE Blockchain Technologies 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, it is 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 it endeavours to source only green energy to mine digital assets such as bitcoin on the cloud. Since the beginning of 2021, HIVE has held in secure storage the majority of its treasury of ETH and BTC derived from mining rewards. The company’s shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of cryptocurrencies, primarily BTC. Because HIVE also owns hard assets such as data centers and advanced multi-use servers, it believe its shares offer investors an attractive way to gain exposure to the cryptocurrency space. For more information and to register to HIVE’s mailing list, please visit www.HIVEBlockchain.com.
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