The HIVE blockchain is expanding its data center campus in New Brunswick, Canada with a capacity of 40 MW. It is the first publicly traded cryptocurrency mine, listed on the Venture Exchange in Toronto in 2017 and added to the NASDAQ in 2021.
The HIVE blockchain will expand to data centers in New Brunswick, Canada
HIVE Blockchain Technologies (NASDAQ: HIVE, TSX.V: HIVE) will soon begin testing a new high-performance computing cloud hosting operation. On the company’s largest data center campus in New Brunswick, Canada, where it owns the land, the team is currently building an expansion from ground-up (“Greenfield Expansions”), which will give it a 40-megawatt data center capacity.
HIVE currently operates 5 data center campuses, where they are mining both Bitcoin and Etherium. HIVE’s data center already has access to approximately 50 megawatts of electricity, making it the largest and most diverse of the universally listed cryptocurrency miners. These facilities are located in Canada, Sweden and Iceland, countries that offer a winning combination of cool climate and politically stable jurisdiction. In addition, these spaces provide unique access to abundant green energy, so all HIVE data centers are powered by clean, low-cost hydroelectric or geothermal energy.
Ownership of the facilities at which they operate data centers is key to HIV’s long-term strategy. For one thing, they don’t have to worry about landlords raising rents on these facilities. And you can see that they can choose the locations with the cheapest, greenest and cleanest energy access in the world. Data center ownership also gives the company greater flexibility in a number of ways. For example, if there is another “crypto winter”, the company can provide hosting services while still digging crypto with its own machine, and holding as many currencies as possible until the price rises again.
A bridge between digital currency and the stock market
HIVE is a growth-oriented technology stock in the corporate blockchain industry. As a company whose shares are traded on a large stock exchange, they are building a bridge between the digital currency and the blockchain sector and the traditional cryptocurrency market.
Since the beginning of 2021, HIVE has kept most of its ETH and BTC currency mining awards in safe storage. Its shares thus provide investors with a digital currency mining operating margin, as well as a portfolio of cryptocurrencies such as ETH and BTC, so that they are familiar and comply with the rules.
Since HIVE owns solid assets such as data centers and advanced multi-use servers, stocks provide investors with a diverse and powerful way to gain exposure to the cryptocurrency space. Probably a factor as to why they’re doing so poorly in HIV.
To learn more about the HIVE blockchain, visit the company’s website and follow the team on YouTube, Twitter, Instagram or Facebook.
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