Mr. Frank Holmes reports
HIVE EXPANDS ITS GROWTH STRATEGY IN SWEDEN BY SOURCING MORE GREEN ENERGY
Hive Blockchain Technologies Ltd. has recently expanded in Sweden with a 4.6-megawatt facility in the town of Robertsfors. This brings the total capacity in Sweden to more than 33 megawatts and 133 megawatts worldwide.
Hive has installed itself in the historic diamond factory in the small municipality of Robertsfors in the northern part of the country -- consistent with its ESG (environmental, social and corporate governance) strategy to invest in cold climate locations with access to stable, low-cost, green and renewable energy sources.
Hive has already established itself on the premises and started production in the first hall while planning its data centre expansion with an option for more space as the need for additional capacity arises.
"We are excited to welcome a long-term and serious customer at the factory," said entrepreneur and landlord Mikael Bergmark at BrukEtt.
He continued: "Hive is a world-class company that is leading the way for the blockchain sector with its solid ESG strategy: investing only in areas with green and renewable energy, which is precisely what Robertsfors can offer. We are also pleased to see that several local electricity and construction companies are already working in the facility."
Hive has been operating in Sweden since 2018, and executive chairman Frank Holmes believes that this time and commitment to the country has been worthwhile.
"While some companies are struggling to find suitable locations for their entry or expansion in Sweden, Hive is in the position of choosing among several new opportunities that have been presented to us. This is a testament to our reputation as a reliable operator," continued Mr. Holmes.
About Hive Blockchain Technologies Ltd.
Hive Blockchain went public in 2017 as the first cryptocurrency mining company with a green energy and ESG strategy. It is listed on the TSX Venture Exchange, and its shares have been approved for listing on the Nasdaq.
Hive is a growth-oriented company in an emergent industry. It is building a bridge between the blockchain sector and traditional capital markets. Hive owns state-of-the-art green-energy-powered data centre facilities in Canada, Sweden and Iceland, which produce newly minted digital currencies like bitcoin and ethereum continuously on the cloud. Since the beginning of 2021, Hive has accumulated the majority of its eth and btc coin production, which it holds in secure storage. Its deployments provide shareholders with exposure to the operating margins of digital currency mining, as well as a portfolio of crypto-coins such as btc and eth. Hive traded over two billion shares in 2020.
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