HIVE Blockchain Completes Acquisition of Kolos Norway AS

HIVE Blockchain Technologies (TSXV:HIVE) has officially closed the acquisition of Kolos Norway AS and its 64-hectare property in Ballangen, Norway.

As quoted in the press release:

The acquisition of the property supports HIVE’s ongoing strategy of acquiring and developing assets with access to low-cost power in cold climates and supplies the Company with extensive flexibility to expand the business. The Company currently operates cryptocurrency mining facilities in Iceland and Sweden with 24.2 megawatts (“MW”) of energy consumption and is fully funded for an expansion of an additional 20 MW of SHA-256 ASIC mining capacity in Sweden to be completed by September 2018.

“I am extremely pleased by the completion of the acquisition of Kolos which provides HIVE the capability to rapidly expand our footprint in the Nordic region and maintains HIVE’s position as a leading blockchain and cryptocurrency infrastructure company,” said Harry Pokrandt, CEO and Director of HIVE. “The property supplies near term access to an additional 30 MW of capacity and provides HIVE a deep pipeline of opportunities for many years to come.  I would like to commend the team at HIVE for their tireless work to complete the Norway Acquisition.”

Click here to read the full press release.