Why HIVE Blockchain Technologies Stock Soared Over 9.5% (HIVE)

• The share price of HIVE Blockchain Technologies ( HIVE ) rose over 9.5% pre-market today. That is why.

The share price of HIVE Blockchain Technologies ( HIVE ) rose over 9.5% pre-market today.

Why: Change of leadership

HIVE Blockchain Technologies Ltd.(HIVE) announced that the Board of Directors of the company has appointed Mr. Aydin Kilic as President and CEO. And he will report to Executive Chairman Frank Holmes while overseeing the tactical execution of the company’s global strategies, business development initiatives and engagement with the capital markets.

KEY QUOTES:

“MR. Kilic was hired in the summer of 2021 as President & Chief Operating Officer of HIVE with the vision of replacing me as interim CEO to become full-time CEO. I can proudly state that Aydin has exceeded expectations and has proven that he the board, the employees under his leadership, shareholders and myself have what it takes to provide HIVE senior leadership Aydin is a passionate and curious leader dedicated to learning and we have seen Aydin embrace our performance-driven team culture which is based on the agility mindset and a disciplined focused work ethic.Over the past 18 months, he guided the company to achieve its own record revenues, record return on invested capital, enviable operational growth in terms of equipment purchases and new infrastructure development and deployment in Sweden and New Brunswick, and he has led our team to be repeatedly named by independent analysts, such as Anthony Power, who the most efficient miner.” Mr. Holmes continued, “While I will maintain my role in providing HIVE with a macro-strategic view through my position as Executive Chairman, I am proud to say that Aydin has earned this title and it gives me great pleasure to pass the torch to him .”

• Frank Holmes, Executive Chairman

“Frank Holmes is a great mentor with invaluable experience and a highly respected innovative track record in the global capital markets, and I am grateful for the opportunity Frank and the HIVE board have given me. I look forward to continuing to learn from him, while pushing the boundaries of innovation and excellence at HIVE. My commitment to the company’s growth is driven by my enthusiasm to increase value for HIVE shareholders.”