ZUG, Switzerland and VANCOUVER, – HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (OTCQX:HVBTF) (the “Company” or “HIVE”) is pleased to provide the following operational update. The Company announces that it has experienced a more than 20% increase in newly minted Ether coins mined daily compared to its exit run rate for the last 15 days in December 2019.
The improvement has occurred since the Company completed the recent Ethereum network upgrade dubbed the “Muir Glacier” earlier this month. Assuming no significant future decreases in the price of Ethereum or significant increases in the current Ethereum network hash rate, the increased generation of Ether coins is anticipated to have a positive impact on HIVE’s revenues from Ethereum mining as well as gross mining profit as the upgrade did not result in an increase in electricity power consumption.
“As one of the world’s largest miners on the Ethereum network, we are excited about recent developments on the network including the beneficial impact of the recent network upgrade,”…