#CryptoCorner: HIVE (TSXV: $HIVE.V) Increases Mining Capacity with Order of 1,090 Bitmain Antimers, Riot Blockchain (NasdaqGS: $RIOT) Improves BTC Production
#CryptoCorner: HIVE
(TSXV: $HIVE.V) Increases Mining Capacity with Order of 1,090 Bitmain Antimers,
Riot Blockchain (NasdaqGS: $RIOT) Improves BTC Production
Point Roberts, WA, Delta BC June 12, 2020
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Stocks discussed: (TSXV:HIVE) (NasdaqGS:RIOT)
HIVE Blockchain
Technologies Ltd. (TSXV:HIVE) has ordered 1,090 Bitmain
Antminer T17+ SHA 256 mining machines as it continues to scale up next
generation mining power at its 30 megawatt capacity, green energy-powered
bitcoin mining operation in Quebec acquired in April. According to the press
release, this new equipment is expected to be installed later this month. This
comes as an addition to the 750 Bitmain S17+ Antminer machines already
installed and operational at the company’s Quebec facility, and brings
estimates of its aggregate operating hash rate to be “approximately 118 PH/s by
the end of June.” At this time of the company’s acquisition of the Quebec
facility, HIVE’s Interim Executive Chairman, Frank Holmes, commented:
"The acquisition provides us direct control of our
destiny, including significant capacity for expansion and flexibility for our future
operations. To that end, we have exercised an option to extend the term of the
Facility lease to November 2025 , and we plan to invest in next generation
SHA-256 miners to increase the operating efficiency of the Facility and prepare
it for the upcoming halving of Bitcoin rewards. Additionally, we are currently
investigating the potential to host third-party miners to maximize utilization
of the Facility's power capacity.”
Riot Blockchain,
Inc. (NasdaqGS:RIOT) has announced continued
improvements and optimization of its Bitcoin production, through the relocation
of its 4,000 Bitmain S17 Pro miners from Oklahoma City to Coinmint, LLC's
facility, in Massena, New York. Ashton Soniat, CEO of Coinmint, explained:
"As the largest capacity cryptocurrency mining
facility in North America, Coinmint is designed to meet the needs of mining
partners of Riot's caliber. We have worked hard to provide the best mining
services at the lowest cost to institutional BTC miners. This partnership
allows our clients to further expand upon our facilities and leverage
Coinmint's low-cost base to enhance overall margins for all parties."
Additionally, Riot
announced a 129 percent increase to its future aggregate operating hash rate to
567 PH/s with the purchase of an additional 3,040 Bitmain S19 Pros, bringing it
to a total fleet of 7,040 next generation miners.
Crypto exchange
Gemini has appointed Jeremy Ng as the
Head of Asia Pacific Region, where the company plans to further expand. Ng was
most recently Asia CEO at fintech firm Leonteq, and will now “be based in
Singapore,” and will “be responsible for shaping Gemini's overall strategy in
the region.” Gemini President Cameron Winklevoss said:
"Southeast Asia is an important part of the crypto
movement. The Monetary Authority of Singapore has developed thoughtful
regulation that is paving the way for further adoption and innovation. We look
forward to building a presence in this major Fintech hub and the Asia Pacific
region with Jeremy leading the way.”
Sam
Mowers, Investorideas
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