HIVE is pleased to report that our worldwide hash rate from Bitcoin mining has surpassed 1 EX/s today. In Canada, the Company has delivered 1,845 Bitcoin miners with a total hash rate of 172 Petahash per second in the last 24 hours. These miners will distribute among their two Canadian data centers. There will be 945 miners in Lachute, Quebec, and 900 workers in Grand Falls, New Brunswick.
That is a significant success, for they continue to work toward the target of over 3 EX/s. This goal substantially back by today’s news of further miner deliveries stated Frank Holmes, Executive Chairman of HIVE. These recent miner deliveries result from our goal to grow their bitcoin mining capacity, sourcing mining equipment from industry leaders. HIVE intends to leverage its cash flow to make opportunistic investments and upgrade our BTC and ETH mining equipment fleet monthly.
Based on the current difficulty, global hash rates, and Bitcoin and Ethereum values, our high hash rate generates a daily income of approximately $600,000, or an annual run rate of $220 million, with expected yearly expenses of $25 million. This figure will rise as the expansion proceeds. They always remind our clients that Bitcoin and Ethereum continue to have significant daily volatility of +/- 6%, and investors should be conscious of this volatility. Our current holdings of Bitcoin and Ethereum coins are worth $116 million.
Bitcoin mining Trend
We now have 946 Bitcoin in cold wallet possession. The Company is glad to share the following update on its global BTC production increase for the current fiscal year of 2022:
64 BTC in April 2021
73 BTC in May 2021
86 BTC in June 2021
200 BTC in July 2021
Following the conclusion of the month, we will issue a press statement detailing our August 2021 Bitcoin output.
About HIVE Blockchain Technologies
HIVE Blockchain Technologies went public in 2017 as the first cryptocurrency mining firm to use green energy and adhere to ESG principles.
HIVE is a high-growth technology stock in the nascent blockchain industry. As a publicly-traded firm on a major stock exchange, they bridge the gap between the digital currency and blockchain sectors and traditional financial markets. HIVE has cutting-edge, green energy-powered data center facilities in Canada, Sweden, and Iceland, where they mine on the cloud and HODL both Ethereum and Bitcoin. Since the beginning of 2021, HIVE has kept most of its ETH and BTC coin mining profits in secure storage. Their shares expose investors to the operating margins of digital currency mining and a portfolio of cryptocurrencies such as ETH and BTC. They feel their shares are an appealing method for investors to obtain exposure to the cryptocurrency market because HIVE owns physical assets such as data centers and innovative multi-use servers. HIVE will have traded over 2 billion shares by 2020.
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