Ethereum – IT Information On-line – HIVE Blockchain Has Entered into an Settlement to Purchase GPU.Ones New 50 MW Campus of Knowledge Centres in New Brunswick
VANCOUVER, BC / ACCESSWIRE / November 23, 2020 / 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 increase HIVE’s Canadian footprint by means of 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 price relies 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 increase our Canadian footprint by means of the acquisition of this information centre campus which has entry to 50 megawatts (“MW”) of low-cost inexperienced energy in Grand Falls, New Brunswick,” mentioned Frank Holmes, Interim Government Chairman of HIVE. Mr. Holmes added, “Additional, and essential to constructing our imaginative and prescient, is the GPU.One staff 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 business’s premier information centre operators and managers. Winner of Bitmain’s “High 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 offers seamless and distant management of its amenities, HVAC, in addition to over every particular person server beneath administration.
About GPU Atlantic Inc.
GPU Atlantic Inc. has just lately constructed a brand new and state-of-the-art 50 MW information centre campus situated in New Brunswick, Canada. The campus comprises GPU.One’s personal non-public 50 MW substation together with two information centre amenities. The campus additionally offers for area, electrical capability, and supplies to proceed its pursuit of development inside 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 amenities 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. That is one other key step in constructing our imaginative and prescient to have a 1,000 petahashes of Bitcoin mining capability over the following 12 months.
For extra data 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 Government Chairman
For additional data please contact:
Tel: (604) 664-1078
Neither the TSX Enterprise Change nor its Regulation Companies 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.
Aside from the statements of historic truth, this information launch comprises “forward-looking data” inside the which means of the relevant Canadian securities laws that’s based mostly on expectations, estimates and projections as on the date of this information launch. “Ahead-looking data” on this information launch contains details about the Proposed Transaction, achievement of combination working hashpower of 1,000 PH/s inside the subsequent 12 months, potential additional enhancements to profitability and effectivity throughout mining operations, potential for the Firm’s long-term development, and the enterprise objectives and goals of the Firm.
Elements that would trigger precise outcomes to vary materially from these described in such forward-looking data embrace, however will not be restricted to, a lower in Ethereum pricing, quantity of transaction exercise or typically, the profitability of Ethereum mining; additional enhancements to profitability and effectivity may not be realized; the Firm may not be capable to enter right into a definitive settlement on phrases that are financial or in any respect or shut the Proposed Transaction; the continuing operation of the digital forex market; the Firm’s capability to efficiently mine digital forex; the Firm may not be capable to profitably liquidate its present digital forex stock, or in any respect; a decline in digital forex costs may have a major damaging impression on the Firm’s operations; the volatility of digital forex costs; and different associated dangers as extra totally set out within the Submitting Assertion of the Firm dated and different paperwork disclosed beneath the Firm’s filings at www.sedar.com.
The forward-looking data on this information launch displays the present expectations, assumptions and/or beliefs of the Firm based mostly on data at the moment accessible to the Firm. In reference to the forward-looking data contained on this information launch, the Firm has made assumptions concerning the present profitability in mining Ethereum (together with pricing and quantity of present transaction exercise); the flexibility to enter right into a definitive settlement and shut the Proposed Transaction on phrases that are financial; worthwhile use of the Firm’s property going ahead; the Firm’s capability 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 in keeping with historic costs; and there can be no regulation or legislation that may forestall 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 data are cheap, forward-looking data will not be a assure of future efficiency and accordingly undue reliance shouldn’t be placed on such data as a result of inherent uncertainty therein.
SOURCE: Hive Blockchain Applied sciences Ltd
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