Vancouver, Canada – November 23, 2020 (Investorideas.com Newswire) HIVE Blockchain Applied sciences Ltd. (TSX.V:HIVE) (OTCQX:HVBTF) (FSE: HBF) (the “Firm” or “HIVE”) is happy to announce that it has entered right into a non-binding, unique memorandum of understanding (“MOU”) with GPU.One Holding Inc. (“GPU.One”) to develop HIVE’s Canadian footprint via the potential buy of GPU Atlantic Inc. (“GPU Atlantic”).
Pursuant to the MOU, HIVE would buy 100% of the GPU Atlantic shares (the “Proposed Transaction”). The eventual buy worth depends on the negotiation of a definitive settlement, together with a proper buy settlement, and the completion of a passable due diligence course of.
“We’re enthusiastic about this chance for HIVE to develop our Canadian footprint via the acquisition of this information centre campus which has entry to 50 megawatts (“MW”) of low-cost inexperienced energy in Grand Falls, New Brunswick,” stated Frank Holmes, Interim Govt Chairman of HIVE. Mr. Holmes added, “Additional, and vital to constructing our imaginative and prescient, is the GPU.One workforce of younger, expert and confirmed information centre professionals with deep excessive density information centre construct out and upkeep expertise who will tackle government positions inside HIVE’s group.”
In reference to this Proposed Transaction, the Firm has retained Canaccord Genuity Corp. to behave as advisor and help with due diligence.
GPU.One is without doubt one of the trade’s premier information centre operators and managers. Winner of Bitmain’s “Prime 10 Mining Farms within the World”, GPU.One is a privately held venture-backed and institution-backed information centre proprietor and operator. GPU.One has a present capability of 70 MW, 50 MW of that are presently in full operation utilising renewable hydro-energy in Québec and Atlantic Canada. GPU.One’s in-house software program is forward of the competitors and gives seamless and distant management of its services, HVAC, in addition to over every particular person server below administration.
About GPU Atlantic Inc.
GPU Atlantic Inc. has lately constructed a brand new and state-of-the-art 50 MW information centre campus positioned in New Brunswick, Canada. The campus accommodates GPU.One’s personal non-public 50 MW substation together with two information centre services. The campus additionally gives for area, electrical capability, and supplies to proceed its pursuit of development throughout the current infrastructure.
About HIVE Blockchain Applied sciences Ltd.
HIVE Blockchain Applied sciences Ltd. is a development oriented, TSX.V-listed firm constructing a bridge from the blockchain sector to conventional capital markets. HIVE owns state-of-the-art inexperienced energy-powered information centre services in Canada, Sweden, and Iceland which produce newly minted digital currencies like Bitcoin and Ethereum constantly on the cloud. Our deployments present shareholders with publicity to the working margins of digital forex mining in addition to a portfolio of crypto-coins.
For extra info and to register to HIVE’s mailing checklist, please go to www.HIVEblockchain.com. Comply with @HIVEblockchain on Twitter and subscribe to HIVE’s YouTube channel.
On Behalf Of HIVE Blockchain Applied sciences Ltd.
Interim Govt Chairman
Tel: (604) 664-1078
Neither the TSX Enterprise Change nor its Regulation Providers Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Change) accepts accountability for the adequacy or accuracy of this information launch.
Apart from the statements of historic reality, this information launch accommodates “forward-looking info” throughout the which means of the relevant Canadian securities laws that’s primarily based on expectations, estimates and projections as on the date of this information launch. “Ahead-looking info” on this information launch contains details about potential additional enhancements to profitability and effectivity throughout mining operations, submitting of the Firm’s monetary statements and associated administration dialogue and evaluation for the primary quarter of its fiscal 12 months ended June 30, 2020, potential for the Firm’s long-term development, and the enterprise targets and aims of the Firm.
Components that might trigger precise outcomes to vary materially from these described in such forward-looking info embrace, however should not restricted to, a lower in Ethereum pricing, quantity of transaction exercise or usually, the profitability of Ethereum mining; additional enhancements to profitability and effectivity might not be realized; the Firm could not file its monetary statements and associated administration dialogue and evaluation for the primary quarter of its fiscal 12 months ended June 30, 2020 throughout the timeframe at the moment anticipated; the digital forex market; the Firm’s means to efficiently mine digital forex; the Firm could not be capable to profitably liquidate its present digital forex stock, or in any respect; a decline in digital forex costs could have a big destructive impression on the Firm’s operations; the volatility of digital forex costs; and different associated dangers as extra absolutely set out within the Submitting Assertion of the Firm dated and different paperwork disclosed below the Firm’s filings at www.sedar.com.
The forward-looking info on this information launch displays the present expectations, assumptions and/or beliefs of the Firm primarily based on info at the moment accessible to the Firm. In reference to the forward-looking info contained on this information launch, the Firm has made assumptions in regards to the present profitability in mining Ethereum (together with pricing and quantity of present transaction exercise); the Firm’s means to organize and file its monetary statements and associated administration dialogue and evaluation for the primary quarter of its fiscal 12 months ended June 30, 2020; worthwhile use of the Firm’s property going ahead; the Firm’s means to profitably liquidate its digital forex stock as required; historic costs of digital currencies and the flexibility of the Firm to mine digital currencies can be according to historic costs; and there can be no regulation or regulation that can stop the Firm from working its enterprise. The Firm has additionally assumed that no important occasions happen outdoors of the Firm’s regular course of enterprise. Though the Firm believes that the assumptions inherent within the forward-looking info are cheap, forward-looking info will not be a assure of future efficiency and accordingly undue reliance shouldn’t be placed on such info as a result of inherent uncertainty therein.
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