Canadian mining company HIVE Blockchain has announced the acquisition of cryptomining facilities, increasing global power consumption to 50 MW

BlockBeats -- on March 30, HIVE Blockchain, a listed mining company based in vancouver, Canada, announced the acquisition of equipment for a low-energy bitcoin mine in Quebec province for c $4 million, or about us $2.8 million. Under the terms of the agreement, payment will be made in the form of stock + cash: 15 million common shares (" HIVE shares ") priced at c $0.20 per share and c $1 million plus cash.

Frank Holmes, HIVE's interim executive chairman, said: "this is an important strategic acquisition for HIVE that significantly enriches our current business, and we made the acquisition at the right time at an attractive valuation to our shareholders." The acquisition will more than double the company's total global electricity consumption to about 50 megawatts.

According to rhythm previously reported, HIVE Blockchain is the earliest COINS listed mining company in the world, was founded in January 2013, the main mining site is in Iceland, because encrypted digital currency mining profits largely depends on the efficient energy infrastructure, and renewable resources such as geothermal, hydro brings lots of cheap electricity. Its portfolio includes Genesis Group and Latent Capital.

On 24 March this year, the company issued an order (ease-and-desist) against the name of Steem's bifurcated new histry.io chain, but no conclusion has been reached.

The original link: https://www.newswire.ca/news-releases/hive-blockchain-doubles-global-mining-capacity-with-acquisition-of-30-mw-bitcoin-operation-in-canada-867610176.html

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