HIVE Blockchain Technologies (NASDAQ: HIVE) (TSX.V: HIVE) (FSE: HBFA)<\/a>\u00a0has announced production figures from the company\u2019s global Bitcoin operations for the month of October 2022, with 307 Bitcoin produced and a BTC HODL balance of 3,311 Bitcoin as of Nov. 5, 2022. According to the summary, HIVE has a strong balance sheet, with approximately $70 million USD of Bitcoin, and no expensive borrowing against equipment like ASICs or GPU chips or digital assets. \u201cWe are very happy to be producing over 300 Bitcoin per month, which is about 1% of the global network, even when network difficulty is at an all-time high. We have sold all our Ethereum holdings. In October we produced an average of 9.9 Bitcoin per day,\u201d said HIVE\u2019s Executive Chairman Frank Holmes. \u201cI am very pleased with HIVE\u2019s growth of Bitcoin ASIC hashrate over the last year, without taking on the risk of expensive equipment financing or Bitcoin backed loans. Most of the mining industry is plagued with loans and debt, where either their Bitcoin balance sheet is encumbered, or the ASIC hardware they have purchased has expensive debt associated with it. The leveraging of assets during the bull market is causing great stress for our peers in the mining industry, as asset values have corrected to bear market conditions. HIVE has maintained a strong position and pursued a steady rate of growth as our Bitcoin mining footprint expands, without expensive high-risk debt and without encumbering or collateralizing any of our Bitcoin assets.\u201d<\/p>\n To view the full press release, visit\u00a0https:\/\/ccw.fm\/bZ3iL<\/a><\/p>\n About HIVE Blockchain Technologies Ltd.<\/strong><\/p>\n HIVE Blockchain Technologies went public in 2017 as the first cryptocurrency mining company with a green energy and ESG strategy. HIVE is a growth-oriented technology stock in the emergent blockchain industry. As a company whose shares trade on a major stock exchange, HIVE is building a bridge between the digital currency and blockchain sector and traditional capital markets. HIVE owns state-of-the-art, green energy-powered data centre facilities in Canada, Sweden and Iceland, where it endeavors to source green energy to mine digital assets such as Bitcoin on the cloud. Since the beginning of 2021, HIVE has held in secure storage the majority of its treasury of ETH and BTC derived from mining rewards. The company\u2019s shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of cryptocurrencies, primarily BTC, with the ETH subsequently sold. Because HIVE also owns hard assets such as data centers and advanced multi-use servers, the company believes its shares offer investors an attractive way to gain exposure to the cryptocurrency space. For more information and to register to HIVE\u2019s mailing list, please visit\u00a0www.HIVEBlockchain.com<\/a>.<\/p>\n About CryptoCurrencyWire (\u201cCCW\u201d)<\/strong><\/p>\n CryptoCurrencyWire (CCW) is a financial news and content distribution company that provides (1) access to a network of wire services via\u00a0InvestorWire<\/a>\u00a0to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with\u00a0CCW Prime<\/a>. As a multifaceted organization with an extensive team of contributing journalists and writers, CCW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today\u2019s market, CCW brings its clients unparalleled visibility, recognition and brand awareness.<\/p>\n To receive instant SMS alerts, text CRYPTO to 77948 (U.S. Mobile Phones Only)<\/p>\n CryptoCurrency News Wire is where News, content and information converge via Crypto.<\/p>\n For more information, please visit\u00a0https:\/\/www.CryptoCurrencyWire.com<\/a><\/p>\n Please see full terms of use and disclaimers on the CryptoCurrencyWire (CCW) website applicable to all content provided by CCW, wherever published or re-published:\u00a0http:\/\/CCW.fm\/Disclaimer<\/a><\/p>\n CryptoCurrencyWire (CCW)
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