Hive Bitcoin Miner Raises $15 Million

hive mining facilities jan 2021 768x385

The publicly traded bitcoin and ethereum miner, HIVE Blockchain Technologies Ltd, has raised $15 million out of an offering of nearly $27 million according to a filing with the Securities and Exchanges Commission (SEC). The miner just recently bought 6,400 asics from Canaan, bringing its total capacity to one petahashes per second out of 150 Ph/s for the bitcoin network. They claim to operate “state-of-the-art green energy-powered data centre facilities in Canada, Sweden, and Iceland,” with the Quebec mining farm pictured above. The stock traded company under the TSXV ticker says they have low working capital requirements as due to the publicly traded structure they don’t have to immediately sell mined coins, allowing Hive to “strategically sell coins to maximize profit.” This $15 million raise may show this in action. Instead of selling bitcoin or eth to cover expansion or expenditure, they’ve just raised money through an “8% Convertible Unsecured…

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