ZUG, Switzerland and VANCOUVER, June 29, 2018 /CNW/ - HIVE Blockchain Technologies Ltd. (TSXV: HIVE) (OTC: HVBTF) (the "Company" or "HIVE") will be announcing its financial results for the three and twelve months ended March 31, 2018 on Wednesday, July 18 2018 after market close.
Management will host a webcast on Thursday, July 19 2018 at 8:30am EST to discuss the Fiscal 2018 Q4 and Full Year results. Harry Pokrandt, CEO, President and Director; and Jessica Van Den Akker, Chief Financial Officer, will participate in the webcast.
In January 2018, HIVE Blockchain successfully operationalized 6.8 Megawatt ("MW") of capacity with the launch of Sweden Phase 1.
In March 2018, the Company announced the acquisition of Kolos Norway AS in Norway, which provides significant expansion opportunities to the Company.
Since the commencement of mining in September 2017 until March 31, 2018, HIVE Blockchain mined over 17,000 Ethereum coins, and 54,000 Ethereum Classic coins.
Subsequent to quarter end, the Company doubled production by bringing Sweden Phases 2 and 3 online which results in total mining capacity in Sweden of 20.4 MW and brings overall mining capacity to 24.2 MW.
"HIVE Blockchain continues to execute on its strategy of expanding mining capacity within stable jurisdictions with access to green, low cost power and high-speed internet." said Harry Pokrandt, CEO and Director of HIVE.
About HIVE Blockchain Technologies Ltd.
HIVE Blockchain Technologies Ltd. is a growth oriented, TSX.V-listed company building a bridge from the blockchain sector to traditional capital markets. HIVE is strategically partnered with Genesis Mining Ltd. to build the next generation of blockchain infrastructure. HIVE owns state-of-the-art GPU-based digital currency mining facilities in Iceland and Sweden, which produce newly minted digital currencies like Ethereum continuously, and provides shareholders with exposure to the operating margins of digital currency mining as well as a growing portfolio of crypto-coins.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the Company's expansion opportunities in Norway; the Company's production and mining capacity; long term growth of the Company; the business goals and objectives of the Company, and other forward-looking information includes but is not limited to information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the Company may not complete its planned expansion in Sweden on terms currently anticipated by the Company, or at all; the Company may not complete its planned expansion in Norway or on terms favourable to the Company, or at all; data centres, once constructed, may not operate on a scale (electrical consumption and output of digital currency) currently anticipated, and may not operate on commercially beneficial terms at all to the Company; the ongoing partnership with Genesis; the digital currency market; the Company's ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company's operations; the volatility of digital currency prices; and other related risks as more fully set out in the Filing Statement of the Company dated September 13, 2017 and other documents disclosed under the Company's filings at www.sedar.com.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's ability to complete its expansion in Sweden; the Company's ability to complete the construction of digital currency operations in Norway; the Company will be able to profitably liquidate its digital currency inventory as required; the Company's ongoing partnership with Genesis; historical prices of digital currencies and the ability of the Company to mine digital currencies will be consistent with historical prices; and there will be no regulation or law that will prevent the Company from operating its business. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
SOURCE HIVE Blockchain Technologies Ltd.
For further information: Harry Pokrandt, Tel: (604) 664-1078