Canadian mining company HIVE Blockchain announced the acquisition of crypto mining facilities, and the global electricity consumption increased to 50 MW

According to BlockBeats, on March 30, HIVE Blockchain, a listed mining company headquartered in Vancouver, Canada, announced that it would acquire a low-energy Bitcoin mining equipment in Quebec for 4 million Canadian dollars, or approximately 2.8 million US dollars. According to the acquisition agreement, the payment method is stock + cash: 15 million common shares ("HIVE shares"), each priced at 0.20 Canadian dollars, plus cash of 1 million Canadian dollars.

HIVE's interim executive chairman, Frank Holmes, said: "This is an important strategic acquisition for HIVE that greatly enriches our current business. We made the acquisition at an attractive valuation and at the right time for shareholders." The acquisition will more than double the company's total global available power to approximately 50 megawatts (Note: data shows that 3 megawatts can generally host 1,000 Bitmain Antminer T17+).

According to previous reports by Lvdong, HIVE Blockchain is the world's first listed Bitcoin mining company, founded in January 2013, with its main mining location in Iceland, because the profits of cryptocurrency mining largely rely on efficient energy infrastructure and a large amount of cheap electricity from renewable resources such as geothermal and hydropower. The company's investment institutions include Genesis Group and Latent Capital.

On March 24 this year, the company issued an ease-and-desist order regarding the name of the new Steem fork chain Hive.io, but no conclusion has been reached yet.

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