HIVE Blockchain Technologies (HVBT) (HIVE) Stock Rockets 22% in a Week: What Next?

July 2, 2021July 2, 2021 Jon Williams CVE:HIVE, HIVE, HIVE Blockchain Technologies (NASDAQ:HVBT) (CVE:HIVE), HIVE news, HIVE stock, HVBT, HVBT news, HVBT stock, NASDAQ:HVBT

There are now plenty of stocks to choose from when it comes to blockchain related companies and one of that stocks that investors could consider looking into today is that of HIVE Blockchain Technologies (NASDAQ:HVBT) (CVE:HIVE).

Over course of the past week, the HIVE Blockchain stock has emerged as a notable gainer and managed to deliver gains of as much as 22%. Yesterday, it emerged that the company joined the partners networks of NVIDIA known as the Cloud Service Provider Program. In addition to that, the company also entered into purchasing agreements with NVIDIA for GPUs. The total value of the contract is $66 million.

The company will receive the cards throughout the course of 2021 on a monthly basis and the volume of deliveries is going to rise progressively from one month to the next. It is a significant development for the company and one that could have long term positive effects.

The company is looking to branch out into the commercial cloud services space that is focussed on providing high computing capacities to its clients. It is a bold move from the company and it seems that investors are also quite optimistic about this move from HIVE Blockchain Technologies.

Jon Williams

Jon graduated from the University of Michigan with a degree in finance. He is an avid investor and enjoys reporting on the markets. When he is not in front of a computer he enjoys playing golf and watching basketball.