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January 09, 2023 (Investor Brand Network via COMTEX) — HIVE Blockchain Technologies (NASDAQ: HIVE ) (TSX.V: HIVE ) (FSE: HBFA ) today announced production numbers from its global bitcoin (“BTC”) business for the month of December 2022 and calendar year 2022. The company reportedly produced 213.8 bitcoin in December, plus US$3.15 million in revenue from its energy price hedging and grid balancing strategy. In addition, HIVE produced cryptoassets worth 4,752 bitcoin (based on daily average price of BTC) in 2022, which is an increase of 18% from the previous year. “We are very pleased to produce over 213 bitcoin this month, while earning over $3 million this month from our grid balancing and energy sales initiatives,” said HIVE’s Executive Chairman Frank Holmes. “HIVE was the first public crypto mining company to set up a strategy for hedging energy prices and grid balancing. Our strategy to manage volatile energy prices and provide a standby agreement with the energy company has been active for the last couple of years in Sweden. HIVE is a key player in the major digital transformation wave, from being the first public company to mine digital assets, to having a green strategy, and to innovating with additional revenue streams.Our agile leadership style is focused on being innovative and agile as we mine digital assets that are extremely volatile. In addition to the European partnerships we have, our in-house technical team has developed proprietary software to manage our fleet of ASIC miners in three countries.”
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About HIVE Blockchain Technologies Ltd.
HIVE Blockchain Technologies went public in 2017 as the first cryptocurrency mining company with a green energy and ESG strategy. HIVE is a growth-oriented technology share in the emerging blockchain industry. As a company whose shares are traded on a major exchange, it is building a bridge between the digital currency and blockchain sector and traditional capital markets. HIVE owns state-of-the-art, green energy-powered data center facilities in Canada, Sweden and Iceland, where they strive to source only green energy to mine digital assets such as bitcoin on the cloud. Since the beginning of 2021, HIVE has held in secure storage the majority of the treasury of ETH and BTC derived from mining rewards. The company’s shares give investors exposure to the operating margins of digital currency mining, as well as a portfolio of cryptocurrencies, primarily BTC. Because HIVE also owns hard assets such as data centers and advanced multipurpose servers, they believe their shares offer investors an attractive way to gain exposure to the cryptocurrency space. For more information and to sign up for HIVE’s mailing list, please visit www.HIVEBlockchain.com.
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COMTEX_422379900/2557/2023-01-09T12:38:00
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