HIVE Blockchain Technologies Ltd (NASDAQ:HVBT) Stock Continues to Move Higher: Now What?

First cryptocurrency mining company with a green energy and ESG strategy, HIVE Blockchain Technologies Ltd (NASDAQ:HVBT) on 29th July 2021 has announced its global operations are producing BTC equivalent operational hash rate of 1.675 EH/s.

The firm said that it is generating daily income of $550,000, translating to $200 million annually. The firm also will continue strengthening miner purchasing pipeline with purchase of 4,000 next generation miners.

The new equipment from top global manufacturers will be in operation in two months, in 2 tranches, with 2,000 miners in August, and 2,000 miners in September 2021.

Frank Holmes, Executive Chairman of HIVE, said that the strategic purchase was done due to robust relationships that the team has done with leading manufacturers in the ASIC miner space. Holmes added that the firm will continue to be the leading clean miner in the industry.

The company also announced that due to delays in audit completion, it will be unable to file its financial statements as well as accompanying management’s discussion and analysis for the financial year ended March 31, 2021 by July 29. The delay is filing has been due to reporting and operational challenges with the 5 countries that the firm operates in: Canada, Switzerland, Bermuda, Iceland and Sweden.