HIVE Blockchain Reaches 99 Percent Capacity in Sweden

HIVE Blockchain (TSXV:HIVE), a company principally engaged in cryptocurrency mining announced that its operations in Sweden are operating at 99 percent capacity. Mining operations were relaunched on July 11, 2019, during which it was involved in a transitional period.

As quoted in the press release:

“The operational improvements have been tremendous, and we are seeing continuous increases in efficiency,” said Frank Holmes, Interim Executive Chairman and Interim CEO of HIVE. “Genesis Mining has been a great partner and I would like to commend the hard work and expertise of Nicolás Chaparro who I believe has showed outstanding leadership throughout the transition period.”

“With regards to our annual filings,” added Frank Holmes. “As a result of guidance released by the Canadian Public Accountability Board (“CPAB”) in December, delayed filings have impacted, to my knowledge, every Canadian listed company involved in the cryptocurrency and blockchain industry. An article published by the Globe and Mail earlier this year titled ‘Cryptocurrency companies rush to secure audits as firms back away’ highlighted the challenges faced by our peers that we are currently undergoing. We are making great progress within the business and I look forward to sharing our financial results as we work expeditiously to complete our annual filings.”

Click here to read the full press release.