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HIVE Blockchain (TSXV:HIVE), cryptocurrency mining company announced that it has resumed mining operations in Sweden. Mining operations were restarted as Ethereum prices have gained momentum in price. As quoted in the press release: The reboot of the Swedish facility comes as Ethereum pricing continues to show strength, now trading at US$273(1) against its lows in …
HIVE Blockchain (TSXV:HIVE), cryptocurrency mining company announced that it has resumed mining operations in Sweden. Mining operations were restarted as Ethereum prices have gained momentum in price.
As quoted in the press release:
The reboot of the Swedish facility comes as Ethereum pricing continues to show strength, now trading at US$273(1) against its lows in January of $104, while electricity prices in Sweden have declined by 70% since the beginning of the year. The Company will continue to optimize its equipment during this transition period. HIVE continues to receive 300 Petahash (“PH”) of cloud-based ASIC Bitcoin mining capacity from Genesis.
“I am exceptionally pleased that we have restarted our operations in Sweden as Ethereum continues to show renewed strength,” said Frank Holmes, Interim Executive Chairman and Interim CEO of HIVE. “Rebooting the facility brings new life to the mining rigs and the transition team at Genesis has been exceptionally cooperative and efficient as the two companies have coordinated efforts to ensure a smooth reboot of the GPUs at the facility. I continue to be extremely optimistic about the future of cryptocurrency, blockchain and the evolution of our company to HIVE 2.0 to participate in accelerating the blockchain sector.”