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HIVE Digital anuncia programa de acciones en el mercado modificado
Vancouver, Canadá – HIVE Digital Technologies Ltd. (TSX.V:HIVE) (Nasdaq:HIVE) (FSE:HBFA.F) (la “Compañía” o “HIVE”) se complace en anunciar que ha celebrado un acuerdo enmendado y acuerdo de distribución de capital reexpresado (el “Acuerdo de distribución de capital”) con Canaccord Genuity y Stifel GMP (colectivamente, los “Agentes”) para modificar el programa de mercado de la Compañía (el “Programa ATM”). El Acuerdo de Distribución de Capital reafirma y reemplaza el acuerdo de distribución de capital anterior, de fecha 10 de mayo de 2023, entre la Compañía y los Agentes que amplían el programa anterior en el mercado canadiense a los Estados Unidos.
Según el Acuerdo de Distribución de Capital, la Compañía puede vender hasta US$90 millones en acciones ordinarias de la Compañía (las “Acciones Ordinarias”). Las Acciones Ordinarias serán emitidas por la Compañía al público de vez en cuando, a través de los Agentes, a discreción de la Compañía. Las Acciones Ordinarias vendidas bajo el Programa ATM, si las hubiera, se venderán al precio de mercado vigente en el momento de la venta.
Según el Acuerdo de Distribución de Capital, las ventas de Acciones Ordinarias serán realizadas por los Agentes a través de "distribuciones en el mercado" como se define en el Instrumento Nacional 44-102 – Distribuciones en estantería en TSX Venture Exchange y Nasdaq Stock Market. La Compañía no está obligada a realizar ninguna venta de Acciones Ordinarias en virtud del Acuerdo de Distribución de Capital. A menos que la Compañía o los Agentes lo rescindan antes según lo permitido en el mismo, el Acuerdo de Distribución de Capital terminará a partir de la fecha en que los ingresos brutos totales de las ventas de las Acciones Ordinarias vendidas bajo el Programa ATM alcancen el monto total de US$90 millones.
La Compañía tiene la intención de utilizar los ingresos netos del Programa ATM, si los hubiera, principalmente para requisitos corporativos generales y de capital de trabajo, financiar operaciones en curso, pagar deuda pendiente de vez en cuando, completar adquisiciones futuras o para otros fines corporativos.
El Programa ATM se realiza de conformidad con un suplemento del prospecto modificado y reexpresado (el “Suplemento del Prospecto”) al prospecto básico de formato breve de la Compañía con fecha del 1 de mayo de 2023 (el “Prospecto Básico”), modificando y reformulando el suplemento del prospecto previamente presentada el 10 de mayo de 2023 y una declaración de registro en los EE. UU. en el Formulario F-10 presentada en la fecha del presente (la “Declaración de registro”). El Suplemento del Prospecto se presentó ante las autoridades reguladoras de valores en cada una de las provincias y territorios de Canadá y está incluido en la Declaración de Registro presentada ante la Comisión de Bolsa y Valores de los Estados Unidos.
Copias del Prospecto Suplemento y el Prospecto Base Shelf están disponibles en SEDAR+ en www.sedarplus.com y copias de la Declaración de Registro, que incluye el Prospecto Suplemento, están disponibles en EDGAR en www.sec.gov. También se pueden obtener copias de dichos documentos en: Canaccord Genuity, Atención: Syndicate Department, 99 High Street, 12th Floor, Boston MA 02110 o por correo electrónico a prospectus@cgf.com y Stifel GMP, Atención: ECM 161 Bay Street, Suite 3800 , Toronto, ON M5J 2S1 ∙o por correo electrónico a ecmcanada@stifel.com. Dichos documentos contienen información importante sobre el Programa ATM. Los posibles inversores deben leer el Suplemento del folleto y el Folleto básico, así como la Declaración de registro, antes de tomar una decisión de inversión.
Este comunicado de prensa no constituye una oferta de venta ni la solicitud de una oferta para comprar Acciones Ordinarias, ni habrá ninguna venta de estas Acciones Ordinarias en ninguna jurisdicción en la que dicha oferta, solicitud o venta fuera ilegal antes del registro. o calificación bajo las leyes de valores de dicha jurisdicción.
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Summary Overview:
- HIVE produced 274 Bitcoin in the month of August, from ASIC and GPU mining operations, representing an average of 74.7 Bitcoin Per Exahash, with an average hashrate of 3.67 EH/s for the month of August 2023;
- HIVE produced an average of 8.8 BTC per day in August 2023;
- HIVE ended the month with 3.69 EH/s of mining capacity, including ASIC and GPU BTC hashrate.
“Additionally, we are excited to announce the expansion of our AI and HPC infrastructure offering into North America, in addition to our current operations in Sweden. Our North American AI and HPC infrastructure will be based in Canada, and the first servers are expected to come online in September. HIVE is also excited to receive our enterprise grade networking equipment, which will upgrade our AI and HPC servers in Sweden. This will allow 100 GBe interconnect speeds and will allow us to serve users with high-end AI and HPC compute demands. Enterprise grade network equipment for our Canadian facility is expected to follow shortly thereafter.”
Where HIVE has been a technology leader in crypto-mining, our team with the knowledge and experience of operating a fleet of approximately 150,000 GPUs during the Ethereum mining era, now aspires to apply their expertise to the Company’s long-term blue-sky vision to implement our 38,000 Nvidia GPUs for HPC and AI workloads.”
- 260 BTC produced from ASICs from an average hashrate of 3.5 EH/s from ASICs in August;
- 8.4 BTC produced per day on average from ASICs, and 74.7 BTC/EH from ASICs in August;
- 3.69 EH/s of BTC month end Hashrate as of August 31, comprised of 3.531 EH/s of ASIC BTC hashrate and 0.163 EH/s of GPU BTC Hashrate;
- This represents a 1% month over month end increase in BTC ASIC hashrate (July 31 month end was 3.64 EH/s);
- Monthly average of 3.67 EH/s, comprised of an average of 3.485 EH/s of ASIC mining capacity and average of 186 PH/s of Bitcoin GPU mining capacity during the month of August;
- This is a 6% month over month increase in BTC average hashrate from ASICs and GPUs combined (July average BTC hashrate was 3.46 EH/s).
The Bitcoin Network Difficulty is a publicly available statistic, which reflects the total number of Bitcoin miners online and is important in analyzing a company’s gross profit margins, and number of Bitcoin produced. This data is available on many websites, here is one citation: https://www.blockchain.com/explorer/charts/difficulty
As more people mine Bitcoin (difficulty increases), the daily Bitcoin block reward which presently is fixed at 900 Bitcoin per day, gets split amongst more miners; thus, each miner receives a smaller portion of the block reward. Conversely, as Bitcoin prices fall, many miners may lose money, and power down, thus taking their hashrate off the network, causing Network Difficulty to decrease.
Those miners with the lowest costs of production, by virtue of having more efficient machines and/or lower energy costs, are able to continue their production during these volatile cycles. Not all miners will continuously mine during the month, as a result some miners will produce less Bitcoin than expected, relative to their advertised hashrate. For the foregoing reasons, HIVE will self-curtail part of its operations if the unhedged spot energy prices are uneconomical, thereby leaving part of its total gross hashrate unutilized.
All Bitcoin miners are striving to use the most efficient Bitcoin ASIC chips, and we are happy that we have been able to upgrade our global fleet during this crypto market downturn.
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HIVE Digital proporciona producción para agosto de 2023 e informa un crecimiento de más de 2,5 veces en la infraestructura informática de IA
Este comunicado de prensa constituye un “comunicado de prensa designado” a los efectos del suplemento del prospecto modificado y reexpresado de la Compañía con fecha del 17 de agosto de 2023 a su prospecto base de formato breve con fecha del 1 de mayo de 2023.
Vancouver, Canadá – HIVE Digital Technologies Ltd. (TSX.V:HIVE) (Nasdaq:HIVE) (FSE:YO0.F) (la “Compañía” o “HIVE”) se complace en anunciar las cifras de producción no auditadas de la empresa global. Operaciones de Bitcoin para el mes de agosto de 2023, con 274 Bitcoin producidos en agosto. La Compañía ha mantenido más de 3,67 Exahash (“EH/s”) de capacidad minera de Bitcoin en promedio para agosto de 2023, incluido el hashrate ASIC y GPU BTC (todos los montos en dólares estadounidenses, a menos que se indique lo contrario).
Descripción general resumida:
HIVE produjo 274 Bitcoin en el mes de agosto, a partir de operaciones mineras de ASIC y GPU, lo que representa un promedio de 74,7 Bitcoin por Exahash, con un hashrate promedio de 3,67 EH/s para el mes de agosto de 2023;
HIVE produjo un promedio de 8,8 BTC por día en agosto de 2023;
HIVE terminó el mes con 3,69 EH/s de capacidad minera, incluido el hashrate ASIC y GPU BTC.
Actualización de IA y HPC
Aydin Kilic, presidente y director ejecutivo de HIVE, declaró: "Estamos encantados de anunciar nuestro pedido de servidores Supericro de alto rendimiento, que aumentarán aún más nuestra capacidad de infraestructura informática de IA en más de 2,5 veces". La compañía señala que anunció recientemente que su infraestructura informática de IA y HPC se triplicó. Por lo tanto, este nuevo pedido con SuperMicro aumenta aún más la capacidad de cómputo en un factor de 2,5 veces. Una vez instalados, estos servidores proporcionarán la columna vertebral de cómputo para permitir que 2400 de nuestras GPU Nvidia realicen computación de IA y HPC, además de nuestras 400 GPU Nvidia que formaron parte de nuestra exitosa prueba beta a principios de este año, en la que obtuvimos $1 millón de ingresos anuales. ingresos por tasa de ejecución. La empresa espera que todos estos servidores SuperMicro estén instalados y operativos a finales de octubre de 2023. Este es un hito importante hacia nuestro objetivo de fin de año de obtener 15 millones de dólares de ingresos por tasa de ejecución anual de esta fase de crecimiento de nuestro negocio”.
“Además, nos complace anunciar la expansión de nuestra oferta de infraestructura de IA y HPC en América del Norte, además de nuestras operaciones actuales en Suecia. Nuestra infraestructura de IA y HPC de América del Norte tendrá su sede en Canadá y se espera que los primeros servidores entren en funcionamiento en septiembre. HIVE también se complace en recibir nuestro equipo de red de nivel empresarial, que actualizará nuestros servidores de IA y HPC en Suecia. Esto permitirá velocidades de interconexión de 100 GBe y nos permitirá atender a usuarios con demandas informáticas de IA y HPC de alta gama. Se espera que poco después lleguen equipos de red de nivel empresarial para nuestras instalaciones canadienses”.
Si bien HIVE ha sido líder tecnológico en criptominería, nuestro equipo, con el conocimiento y la experiencia de operar una flota de aproximadamente 150 000 GPU durante la era de la minería Ethereum, ahora aspira a aplicar su experiencia a la visión de cielo azul a largo plazo de la compañía para implementar nuestras 38.000 GPU Nvidia para cargas de trabajo de HPC e IA”.
Cifras de producción de agosto de 2023
El Sr. Kilic continuó: "Nuestro enfoque ha sido actualizar nuestra flota de ASIC, así como encontrar ASIC de nueva generación disponibles para entrega inmediata, de modo que puedan instalarse rápidamente para obtener un retorno del flujo de efectivo sobre el capital invertido".
Luke Rossy, vicepresidente de operaciones, comentó: “Esperábamos tener 1.700 BuzzMiners adicionales instalados en New Brunswick en agosto. Hemos instalado 300 BuzzMiners hasta ahora; sin embargo, quedan 1400 debido a retrasos en las actualizaciones de nuestras PDU. Estos son retrasos normales en el curso del negocio. Nos complace informar el progreso en el que se han instalado los 2000 Antminers Bitmain S19 XP en nuestras instalaciones de Lachute en Quebec. La adquisición de estas máquinas se anunció hace menos de un mes”.
La producción total de Bitcoin de la Compañía en agosto de 2023 fue:
260 BTC producidos a partir de ASIC con una tasa de hash promedio de 3,5 EH/s de ASIC en agosto;
8,4 BTC producidos por día en promedio a partir de ASIC y 74,7 BTC/EH a partir de ASIC en agosto;
3,69 EH/s de Hashrate de fin de mes de BTC al 31 de agosto, compuesto por 3,531 EH/s de Hashrate de ASIC BTC y 0,163 EH/s de GPU BTC Hashrate;
Esto representa un aumento del 1% mes a mes en el hashrate BTC ASIC (el final del mes del 31 de julio fue de 3,64 EH/s);
Promedio mensual de 3.67 EH/s, compuesto por un promedio de 3.485 EH/s de capacidad de minado ASIC y un promedio de 186 PH/s de capacidad de minado Bitcoin GPU durante el mes de agosto;
Este es un aumento mes a mes del 6% en el hashrate promedio de BTC de ASIC y GPU combinados (el hashrate promedio de BTC en julio fue de 3,46 EH/s).
La dificultad de minería de la red global de Bitcoin es volátil
Los factores de dificultad de la red son una variable importante en los márgenes de beneficio bruto de la Compañía. La dificultad de la red Bitcoin fue de 52,33 T el 1 de agosto y aumentó a un máximo histórico de 55,62 T el 31 de agosto.
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HIVE Digital proporciona actualización sobre infraestructura de GPU para IA y HPC
Este comunicado de prensa constituye un “comunicado de prensa designado” a los efectos del suplemento del prospecto modificado y reexpresado de la Compañía con fecha del 17 de agosto de 2023 a su prospecto base de formato breve con fecha del 1 de mayo de 2023.
Vancouver, Canadá - HIVE Digital Technologies Ltd. (TSX.V: HIVE) (Nasdaq: HIVE) (FSE: YO0.F) (la “Compañía” o “HIVE”) se complace en brindar una actualización sobre su infraestructura de HPC e IA. proyectos.
La Compañía está convirtiendo sus 38.000 tarjetas GPU (“GPU”) de centro de datos de Nvidia, utilizadas anteriormente para extraer Ethereum y otras criptomonedas, en un servicio de nube de GPU bajo demanda. El presidente y director ejecutivo de HIVE, Aydin Kilic, declaró: "Estamos en camino de tener 3200 GPU, en su mayoría potentes Nvidia A40, en funcionamiento en el espacio AI/HPC para fines de octubre".
Kilic continuó: “La nube de GPU es mucho más compleja que extraer Bitcoin con ASIC. Nos tomó algunos meses implementar la arquitectura de hardware adecuada y logramos un gran avance la semana pasada. Nuestra tasa de utilización del servidor GPU aumentó del 40 al 50 % durante nuestra fase de prueba a más del 80 % la semana pasada a medida que aumenta nuestra comercialización, lo que permite que esas GPU casi dupliquen su flujo de efectivo diario por servidor. El equipo ha hecho un trabajo increíble y estamos aprendiendo y avanzando rápidamente en este negocio. Somos bastante optimistas sobre el mercado de la nube de GPU, que consideramos una de esas raras oportunidades que sólo aparecen cada pocas décadas. La demanda está creciendo rápidamente”.
El negocio de HPC e IA de HIVE genera actualmente 15 veces más ingresos que Bitcoin por megavatio, y la demanda de computación GPU está creciendo rápidamente.
El presidente ejecutivo de HIVE, Frank Holmes, afirmó: “Un informe reciente de Goldman Sachs sugiere una demanda enorme, como se muestra en el gráfico siguiente. Fortune Business Insights ha predicho que el mercado de GPU como servicio en América del Norte crecerá a una tasa de crecimiento anual compuesta del 34% hasta 2030. Esta es una oportunidad de cielo azul, gracias a la notable demanda de proyectos de IA. Por ejemplo, creemos que los grandes modelos de lenguaje, la tecnología detrás de ChatGPT, apenas están comenzando. Creemos que tienen un uso en casi todas las empresas, y estas cosas requieren mucha potencia de GPU para construirse y ejecutarse”.
El liderazgo de HIVE cree que la nube GPU será un excelente complemento para el negocio de minería de Bitcoin de la compañía. Los ingresos de nuestra infraestructura de GPU están creciendo rápidamente y deberían ofrecer una fuente estable de flujo de efectivo para el negocio una vez que alcance escala. Inicialmente, la empresa se dirige a dos de los mercados más grandes del mundo: América del Norte (a través de Canadá) y Europa (a través de Suecia).
Holmes dijo: “Nuestra base en infraestructura de HPC e IA ahora está asegurada tanto en Norteamérica como en Europa. Nuestras GPU están instaladas en nuevos y potentes servidores SuperMicro en centros de datos de nivel 3. Realizamos una prueba beta exitosa a principios de este año con 400 GPU y nuestro objetivo para fin de año es 4800 GPU activas para el 31 de diciembre”.
El Sr. Holmes continuó: “Cuando realizamos la compra de GPU por valor de 66 millones de dólares a Nvidia en 2021, estábamos planeando más allá de la fusión de Ethereum. Compramos estratégicamente tarjetas Nvidia de usos múltiples en lugar de tarjetas específicas de Ethereum, que son un poco más eficientes. ¿Por qué? Porque estas GPU son cientos, incluso miles de veces más rápidas y más eficientes que las CPU para determinadas cargas de trabajo, incluidas estas nuevas tecnologías de inteligencia artificial. Estamos entusiasmados de construir este negocio”.
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HIVE Digital is Now a NVIDIA CSP Partner and Announces GPU Grants for Open-Source AI Developers
Vancouver, Canada - HIVE Digital Technologies Ltd. (TSX.V: HIVE) (Nasdaq: HIVE) (FSE: YO0.F) (the “Company” or “HIVE”) is pleased to announce a new GPU grant program for AI developers.
- HIVE is giving away 10,000 A40 hours on a Supermicro server with 10x NVIDIA A40-48GB GPUs (estimated value: $10,000)
- HIVE believes the open-source AI movement plays a crucial role in advancing this space, and will only grow in importance going forward
- Developers can submit their project for consideration here
- HIVE is expanding its GPU footprint and is in the NVIDIA partner network and is compliant as a Cloud Service Provider (“CSP”)
HIVE Executive Chairman Frank Holmes commented, “This contest is our way of supporting the AI community. We want to better understand what AI developers need from their cloud providers. At the same time, we get to support very promising open-source projects. It’s a win-win.”
Aydin Kilic, HIVE President and CEO, added, “We're committed to advancing the capabilities of open-source AI. Llama 2 by Meta, is a great example of an open-source large language model. In addition to growing the revenue from our GPU infrastructure, we are also running Llama 2 on a HIVE GPU node for research purposes. The landscape has changed since Llama 2 outpaced GPT 3.5 Turbo, and we're now seeing a surge in efforts to optimize open-source models. HIVE is committed to fostering this trend and is evaluating options to expand our grant program to back more teams in setting new records.”
Mr. Kilic continued, “We extend an open invitation to AI developers worldwide aiming for unprecedented model performance to apply today. Whether you're enhancing an existing model with fresh data or exploring innovative architectural designs, we want you on board. Our aim is to collaborate with talented individuals who have ambitious ideas but may lack the necessary resources. Assisting the growth of noteworthy open-source projects will be an invaluable experience for our team.”
HIVE Digital Technologies Ltd. is now compliant as a NVIDIA Cloud Service Provider, which includes designation as preferred partner for NVIDIA AI. HIVE is converting its 38,000 data-center-grade NVIDIA GPU cards into an on-demand GPU HPC infrastructure service to provide the backbone for AI compute requirements. The Company is currently renting out its powerful GPU servers on marketplaces which match customers with providers. To learn more about HIVE’s recent progress in this area, read our October 10, 2023 press release. With the GPU grant contest, will allow the company to offer compute directly to end-users.
Developers can learn more and submit their open-source AI project here.
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HIVE Digital ahora es socio de NVIDIA CSP y anuncia subvenciones de GPU para desarrolladores de IA de código abierto
Vancouver, Canadá - HIVE Digital Technologies Ltd. (TSX.V: HIVE) (Nasdaq: HIVE) (FSE: YO0.F) (la “Compañía” o “HIVE”) se complace en anunciar un nuevo programa de subvenciones de GPU para desarrolladores de IA. .
HIVE está regalando 10 000 horas de A40 en un servidor Supermicro con 10 GPU NVIDIA A40 de 48 GB (valor estimado: 10 000 dólares)
HIVE cree que el movimiento de IA de código abierto desempeña un papel crucial en el avance de este espacio y su importancia seguirá creciendo en el futuro.
HIVE está ampliando su presencia de GPU, está en la red de socios de NVIDIA y cumple como proveedor de servicios en la nube (“CSP”)
El presidente ejecutivo de HIVE, Frank Holmes, comentó: “Este concurso es nuestra forma de apoyar a la comunidad de IA. Queremos comprender mejor qué necesitan los desarrolladores de IA de sus proveedores de nube. Al mismo tiempo, apoyamos proyectos de código abierto muy prometedores. Es una situación en la que todos ganan”.
Aydin Kilic, presidente y director ejecutivo de HIVE, añadió: “Estamos comprometidos a mejorar las capacidades de la IA de código abierto. Llama 2 de Meta es un gran ejemplo de un modelo de lenguaje grande de código abierto. Además de aumentar los ingresos de nuestra infraestructura de GPU, también estamos ejecutando Llama 2 en un nodo de GPU HIVE con fines de investigación. El panorama ha cambiado desde que Llama 2 superó a GPT 3.5 Turbo, y ahora estamos viendo un aumento en los esfuerzos para optimizar los modelos de código abierto. HIVE se compromete a fomentar esta tendencia y está evaluando opciones para ampliar nuestro programa de subvenciones para respaldar a más equipos a la hora de establecer nuevos récords”.
El Sr. Kilic continuó: “Extendemos una invitación abierta a los desarrolladores de IA de todo el mundo que buscan un rendimiento de modelo sin precedentes para aplicarlo hoy. Ya sea que esté mejorando un modelo existente con datos nuevos o explorando diseños arquitectónicos innovadores, lo queremos a bordo. Nuestro objetivo es colaborar con personas talentosas que tienen ideas ambiciosas pero que pueden carecer de los recursos necesarios. Ayudar al crecimiento de proyectos de código abierto destacados será una experiencia invaluable para nuestro equipo”.
HIVE Digital Technologies Ltd. ahora cumple con los requisitos como proveedor de servicios en la nube de NVIDIA, lo que incluye la designación como socio preferido para NVIDIA AI. HIVE está convirtiendo sus 38.000 tarjetas GPU NVIDIA de nivel de centro de datos en un servicio de infraestructura GPU HPC bajo demanda para proporcionar la columna vertebral de los requisitos informáticos de IA. Actualmente, la empresa alquila sus potentes servidores GPU en mercados que conectan a los clientes con los proveedores. Para obtener más información sobre el progreso reciente de HIVE en esta área, lea nuestro comunicado de prensa del 10 de octubre de 2023. El concurso de subvenciones para GPU permitirá a la empresa ofrecer informática directamente a los usuarios finales.
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HIVE Digital proporciona actualización de producción de octubre de 2023 y alcanza el objetivo de 4 Exahash
Este comunicado de prensa constituye un “comunicado de prensa designado” a los efectos del suplemento del prospecto modificado y reexpresado de la Compañía con fecha del 17 de agosto de 2023 a su prospecto base de formato breve con fecha del 1 de mayo de 2023.
Vancouver, Canadá – HIVE Digital Technologies Ltd. (TSX.V: HIVE) (Nasdaq: HIVE) (FSE: YO0.F) (la “Compañía” o “HIVE”) se complace en anunciar las cifras de producción no auditadas de la empresa global. Operaciones de Bitcoin para el mes de octubre de 2023, con 265,9 Bitcoin producidos en octubre. La Compañía ha mantenido más de 3,94 Exahash (“EH/s”) de capacidad minera de Bitcoin en promedio para octubre de 2023, incluido el hashrate ASIC y GPU BTC (todos los montos en dólares estadounidenses, a menos que se indique lo contrario).
Descripción general resumida:
HIVE produjo 265,9 Bitcoin en el mes de octubre, a partir de operaciones mineras de ASIC y GPU, lo que representa un promedio de 67,5 Bitcoin por Exahash, con un hashrate promedio de 3,94 EH/s para el mes de octubre de 2023;
HIVE produjo un promedio de 8,6 BTC por día, a partir de operaciones mineras de ASIC y GPU, en octubre de 2023;
HIVE terminó el mes con 3,97 EH/s de capacidad minera, de la capacidad minera ASIC y el hashrate GPU BTC, un aumento constante mes tras mes;
HIVE superó los 4,0 Exahash de la capacidad minera de ASIC en determinadas fechas a lo largo del mes, logrando un pico de aproximadamente 4,13 Exahash de una capacidad minera combinada de ASIC y GPU. A lo largo de octubre, el hashrate total ha fluctuado debido a las reconfiguraciones en nuestros diversos centros de datos y la llegada de nuevas máquinas.
Estrategia de reducción a la mitad de Bitcoin
Frank Holmes, presidente ejecutivo de la compañía, declaró: “HIVE fue el primer criptominero que cotiza en bolsa, que cotizó en la TSX-V en 2017, y desde entonces navegamos con habilidad y éxito en el último evento de reducción a la mitad en 2020, y además en los mercados bajistas de 2019, 2020, 2022 y lo que estamos viviendo actualmente. El historial comprobado de nuestro equipo, junto con nuestra prudencia fiscal, nos coloca en una posición envidiable para superar el evento de reducción a la mitad que se espera que ocurra a mediados de abril de 2024. Nuestro enfoque continuo es maximizar el retorno de la inversión en los ASIC de minería de Bitcoin que compramos ahora. realizando adquisiciones estratégicas sólo de las mejores ofertas del mercado”.
Se alcanzó el objetivo ASIC de Bitcoin de 4.0 Exahash
Aydin Kilic, presidente y director ejecutivo de HIVE, declaró: “Estamos muy contentos de haber alcanzado 4.0 Exahash este mes en las operaciones mineras de ASIC mientras continuamos optimizando nuestra flota, dentro de la infraestructura existente. Además, una parte de nuestras GPU todavía extraen monedas alternativas con las que nos pagan en Bitcoin. El hashrate de Bitcoin equivalente de nuestras GPU en el mes de octubre fue de 130 PH/s.
Seguimos buscando oportunidades de compra de ASIC para mineros de Bitcoin que proporcionen el mejor retorno del capital invertido, mientras nos preparamos para el próximo evento de reducción a la mitad. Nosotros, como empresa, medimos cuidadosamente la economía minera de equilibrio de los diferentes modelos de máquinas disponibles, al mismo tiempo que optimizamos nuestra flota existente con optimizaciones de firmware siempre que sea posible”.
Cifras de producción de octubre de 2023
La producción total de Bitcoin de la Compañía en octubre de 2023 fue:
257 BTC producidos a partir de ASIC con una tasa de hash promedio de 3,81 EH/s de ASIC en octubre;
8,3 BTC producidos por día en promedio a partir de ASIC y 67,5 BTC/EH a partir de ASIC en octubre;
3,97 EH/s de hashrate de fin de mes de BTC al 31 de octubre, compuesto por 3,834 EH/s de hashrate de ASIC BTC y 0,136 EH/s de hashrate de GPU BTC;
Nuestras cifras de producción de octubre representan un aumento mes a mes del 0,2% en el hashrate BTC ASIC (el final del mes del 30 de septiembre fue de 3,825 EH/s);
Promedio mensual de 3.94 EH/s, compuesto por un promedio de 3.81 EH/s de capacidad de minado ASIC y un promedio de 130 PH/s de capacidad de minado Bitcoin GPU durante el mes de octubre;
Nuestras cifras de producción de octubre representan un aumento mes a mes del 3% en el hashrate promedio de BTC de ASIC y GPU combinados (el hashrate promedio de BTC en septiembre fue de 3,83 EH/s).
La dificultad de minería de la red global de Bitcoin es volátil
Los factores de dificultad de la red son una variable importante en los márgenes de beneficio bruto de la Compañía. La dificultad de la red Bitcoin era de 57,12 T el 1 de octubre y aumentó a un máximo histórico de 62,46 T el 31 de octubre. En consecuencia, la dificultad de la minería de Bitcoin terminó el mes aproximadamente un 9% más que a principios de mes.
La dificultad de la red Bitcoin es una estadística disponible públicamente, que refleja el número total de mineros de Bitcoin en línea y es importante para analizar los márgenes de beneficio bruto de una empresa y la cantidad de Bitcoin producidos. Estos datos están disponibles en muchos sitios web, aquí hay una cita https://www.blockchain.com/explorer/charts/difficulty
A medida que más personas extraen Bitcoin (la dificultad aumenta), la recompensa diaria del bloque de Bitcoin, que actualmente está fijada en 900 Bitcoin por día, se divide entre más mineros; por lo tanto, cada minero recibe una porción menor de la recompensa del bloque. Por el contrario, a medida que los precios de Bitcoin caen, muchos mineros pueden perder dinero y apagarse.
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This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated May 10, 2023 to its short form base shelf prospectus dated May 1, 2023.
HIVE achieved revenue of $22.8 million this quarter by mining 801 Bitcoin with a 20% Gross Operating Margin representing $4.6 million of income from operations. This quarter was a challenging quarter with Bitcoin prices remaining weak on a quarter over quarter basis, while difficulty increases were experienced. Looking at Bitcoin prices post this quarter end, we may have seen a bottom in prices with some upward movement taking place.
The Company notes that HIVE’s production of 801 Bitcoin this quarter represents a decrease of 6.6% year-over-year, having mined 858 Bitcoin last year. This is in large part due to the increase in Bitcoin mining network Difficulty of approximately 82%, which suggests more miners are competing and with more efficient equipment for the same daily opportunity of 900 coins. Even though HIVE increased its average quarterly Bitcoin mining ASIC hashrate from 2.1 EH/s to 3.5 EH/s in this same period, for an increase of Bitcoin mining hashrate of approximately 66%.
“Management has been cautious by not borrowing from predator lenders or creating massive dilution like many other miners as we strive to upgrade our suite of ASIC chips and run the business by selling our bitcoin production and 200 of our HODL position. Further we have been spending capital to build out our HPC strategy for the boom in AI. This revenue stream by repurposing our suite of Nvida chips for AI is gathering momentum. This business channel has much higher margins than mining Bitcoin,” says Frank Holmes, HIVE’s Executive Chairman.
Further, “We wish to again thank our loyal shareholders for believing in our vision. Our HPC strategy is now growing rapidly on a month-over-month basis. While we booked approximately $250,000 of revenue for the 3-month Q2 2024 period from HPC beta site operations, as of today I am pleased to announce our beta tests are generating approximately $250,000 of revenue per month. We are happy to report that our beta test growth appears to be scalable. Demand for our high-quality chips has risen due to the huge global demand for AI projects like ChatGPT, medical research, machine learning and rendering. HIVE was the first data center to use its software to help balance the electrical grid and resell back energy whenever there is a spike in demand. This strategy has been good for HIVE, but more importantly for the communities in which we operate. HIVE is well positioned despite challenging fundamentals such as rising mining network difficulty. Strategically, we have not borrowed expensive debt against our mining equipment or pledged our Bitcoins for costly loans, thus our balance sheet remains healthy to weather the upcoming Halving. Also HIVE uses an accelerated depreciation of ASIC equipment over 2 years, which is highly conservative considering that the useful life of this equipment is usually more than 4 years. What this means is, every time we make a purchase of ASICs machines, there is a straight depreciation over 2 years to $0, so every quarter for 8 quarters in a row, 12.5% of the value of each ASIC equipment purchase is booked as depreciation on our income statement. Notably, we are pleased that our various batches of Bitmain S19j Pro purchases from December 2022 totalling 3,570 units have already earned an ROI of approximately 80% to 105% as of period end September 30, 2023, after accounting for operating costs. Therefore, it is worth noting that our aggressive depreciation schedule of 2 years implies a non-cash charge on our income statement, even if on a cash flow basis our machines pay themselves off in this period.”
Aydin Kilic, President & CEO of HIVE, added, “HIVE’s executive management team has skillfully navigated the recent bear market and are proud of achieving a gross operating margin of $4.6 million this quarter. We produced 801 Bitcoin this quarter, in a period where Bitcoin mining Difficulty increased 9% quarter over quarter, reaching a then all-time high of 57T. HIVE produced 834 Bitcoin in the previous quarter, thus our quarter over quarter Bitcoin production represents only a 4% decrease, despite a 9% increase in Difficulty. The reason being that HIVE’s operating hashrate increased substantially quarter over quarter.”
Mr. Kilic continued, “As of June 30, 2023, HIVE’s operating hashrate was 3.5 EH/s, which increased to 4.0 EH/s as of September 30, 2023, representing a 14% increase in period end hashrate, quarter over quarter. On an average operating basis, HIVE’s average hashrate during the 3-month period ended September 30, 2023, was 3.66 EH/s, compared to an average operating hashrate of 3.35 EH/s for the 3-month period ended June 30, 2023, which represents a 9% increase in average operating hashrate quarter over quarter. These figures are total Bitcoin equivalent hashrate, which includes ASICs and GPUs. Relative to our peers in the industry, HIVE management believes we have operated with healthy profit margins during periods of market volatility thanks to its global presence in Sweden, Iceland, and Canada and their attractive sources of hydro and geothermal electricity with competitive pricing.”
HIVE’s average cost of production per Bitcoin was $22,639 (including cost of goods sold, not including SG&A) for the quarter ending September 30, 2023, a 21.15% increase in cost from the previous quarter ending June 30, 2023. The company notes that with Bitcoin mining hashrates and Difficulty at all-time highs, it is expected that the cost of production for Bitcoin will increase for the industry at large, as less Bitcoin per Terahash is being rewarded at these difficulty levels. We remain focused on acquiring new ASIC machines in an opportunistic way from cash flow and managing our balance sheet. We are busy preparing for the Halving as we did in 2020.
Notably, the average hashprice for the Bitcoin mining network (a measure of the USD daily revenue earned per operating Petahash of Bitcoin hashrate online) was $68/PH per day for the period end September 30, 2023. The average hashprice for the Bitcoin mining network for the previous quarter period end June 30, 2023, was $77/PH per day. Therefore, the average Bitcoin mining network hashprice was 12% lower on a quarter over quarter basis. What this means, is for all Bitcoin miners, they would earn on average 12% less revenue for the same quantity of hashrate online for the period end September 30, 2023, compared on a quarter over quarter basis to the period end June 30, 2023.
Q2 Quarterly Summary- September 30, 2023
- Generated revenue of $22.8 million, with a gross operating margin of $4.6 million
- Mined 801 Bitcoin during the three-month period ended September 30, 2023
- Adjusted EBITDA1 loss of $1.5 million for the three-month period
- Working capital decreased by $12.6 million during the three-month period ended September 30, 2023 for investing in data center equipment and ASIC equipment
- Digital currency assets of $46.9 million, as at September 30, 2023
- Average cost of production per Bitcoin was $22,639, where the average Bitcoin price was $28,045, during the three-month period ended September 30, 2023. This also represents a 21.2% increase in production costs of Bitcoin from the previous quarter of $18,687 for the three months ended June 30, 2023 (average price of Bitcoin was $28,067 during this period)
- Net loss from continuing operations of $24.5 million for the three-month period, due greatly to the accelerated depreciation of ASIC equipment, and share based compensation.
For the three months ended September 30, 2023, revenue was $22.8 million, a decrease of approximately 23.1% from the prior comparative period primarily due to the Ethereum Merge and significant mining difficulty growth.
Gross operating margin1 during the three-month period was $4.6 million, or 20% of revenue, compared to $15.9 million, or 54% of revenue, in the same period in the prior year. The Company’s gross operating margin1 is partially dependent on external network factors including mining difficulty, the amount of digital currency rewards and fees it receives for mining, as well as the market price of digital currencies.
The Company notes that, while adjusted EBITDA1 this quarter was a loss of $1.5 million, because of higher operating costs and realized loss on sale of digital currencies, net loss from continuing operations during the quarter ended September 30, 2023, was $24.5 million, or a loss of $0.29 per share, compared to a net loss of $33.7 million, or $0.41 per share, in the same period last year. The improvement from the prior comparative period was driven primarily by lower non-cash charges such as depreciation, unrealized valuation losses on digital currencies and investments, and impairment charges on equipment. Adjusted EBITDA is a non-IFRS financial measurement and should be read in conjunction with and should not be viewed as an alternative to or replacement of measures of operating results and liquidity presented in accordance with IFRS.
Mr. Holmes noted, “At HIVE we strive to maintain a high-performance culture, which means that we always adapt to unexpected headwinds, and maintain operational excellence in the process.”
EBITDA and Adjusted EBITDA
The Company uses EBITDA and Adjusted EBITDA as a metric that is useful for assessing its operating performance on a cash basis before the impact of non-cash items and acquisition related activities.
EBITDA is net income or loss from operations, as reported in profit and loss, before finance income and expense, tax and depreciation and amortization.
Adjusted EBITDA is EBITDA adjusted for removing other non-cash items, including share-based compensation, non-cash effect of the revaluation of digital currencies and one-time transactions.
The Company emphasizes that “Adjusted EBITDA” is not a GAAP or IFRS measurement and is included only for comparative purposes.
A non-cash charge is a write-down or accounting expense that does not involve a cash payment. Depreciation, amortization, depletion, stock-based compensation, and asset impairments are common non-cash charges that reduce earnings but not cash flows.
Financial Statements and MD&A
The Company’s Consolidated Financial Statements and Management’s Discussion and Analysis (MD&A) thereon for the three and six months ended September 30, 2023 will be accessible on SEDAR+ at www.sedarplus.ca under HIVE’s profile and on the Company’s website at www.HIVEdigitaltechnologies.com.
At-the-Market Offering
Pursuant to the at-the-market equity program established by the Company’s prospectus supplement dated May 10, 2023 (the “ATM Equity Program”), as required pursuant to National Instrument 44-102 – Shelf Distributions and the policies of the TSX Venture Exchange (“TSXV”), the Company announces that, during its three month quarter ended September 30, 2023, it has issued an aggregate of 1,452,837 common shares (the “ATM Shares”) over the TSX-V, for aggregate gross proceeds to the Company of C$9,282,909. The ATM Shares were sold at prevailing market prices, for an average price per ATM Share of C$6.39. Pursuant to the equity distribution agreement associated with the ATM Equity Program (the “EDA”), a cash commission of $209,345 on the aggregate gross proceeds raised was paid to the agent in connection with its services under the EDA during the second quarter ended September 30, 2023.
Pursuant to the EDA, the Company may, from time to time, sell up to USD$100 million of common shares in the capital of the Company. The Company intends to use the net proceeds of the ATM Equity Program, if any, primarily to support the growth and development of the Company’s existing mining operations as well as for working capital and general corporate purposes. Additionally, the Company wishes to be in a position to capitalize on opportunities which may exist or may be brought to its attention relating to distressed asset sales of mining equipment throughout the mining ecosystem.
About HIVE Digital Technologies Ltd.
HIVE Digital Technologies Ltd. went public in 2017 as the first cryptocurrency mining company listed for trading on the TSX Venture Exchange with a sustainable green energy focus.
HIVE is a growth-oriented technology stock in the emergent blockchain and high-performance computing industry. As a company whose shares trade on major stock exchanges, we are building a bridge between the digital currency and blockchain sectors and traditional capital markets. HIVE owns state-of-the-art, green energy-powered data center facilities in Canada, Sweden, and Iceland, where we endeavour 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 BTC derived from mining rewards. Our shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of Bitcoin. Because HIVE also owns hard assets such as data centers and advanced multi-use servers, we believe our shares offer investors an attractive way to gain exposure to the cryptocurrency and high-performance computing space.
We encourage you to visit HIVE’s YouTube channel here to learn more about HIVE.
For more information and to register to HIVE’s mailing list, please visit https://hivedigitaltechnologies.com/ . Follow @HIVEDigitalTech on X and subscribe to HIVE’s YouTube channel.
On Behalf of HIVE Digital Technologies Ltd.
“Frank Holmes”
Executive Chairman
For further information please contact:
Frank Holmes
info@hivedigitaltech.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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HIVE Digital Announces Purchase of 4,800 Bitmain S19k Pro ASIC Miners and Provides Strategic Update
This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated May 10, 2023 to its short form base shelf prospectus dated May 1, 2023.
Vancouver, Canada – HIVE Digital Technologies Ltd. (TSX.V:HIVE) (Nasdaq:HIVE) (FSE:YO0.F) (the “Company” or “HIVE”), a leading digital asset miners and “green” focused data center builder and operator provides an update on its Bitcoin mining strategy and announces the purchase of 4,800 Bitcoin S19k Pro ASIC miners (all amounts in US dollars, unless otherwise indicated).
HIVE has purchased 4,800 Bitmain S19k Pro ASIC miners for expected delivery within 30 days, which will allow us to upgrade a portion of our fleet to improve our average joules per terahash (“J/TH”) efficiency. With quick delivery, these miners will cash flow quicker. The Company also expects these latest generation miners to be cash flow positive after the Bitcoin Halving event next year.
Our goal is to upgrade our remaining 38 J/TH miners to 23 J/TH before the Halving which is expected to be in late April 2024. The lower the J/TH means the greater the machine efficiency. Our strategy is to upgrade monthly, with new ASIC machines which are available for rapid delivery, with attractive $/TH prices. HIVE is making good strides towards this goal.
As we strategically prepare for the Halving, we have performed extensive analysis to navigate these volatile markets. This will include further purchases of high efficiency ASIC miners to upgrade and expand our ASIC fleet. The HIVE management team has unique experience managing both the last Bitcoin Halving ecosystem in 2020 and the Merge of Ethereum proof-of-work to proof-of-stake in 2022. A key compass for the HIVE team is to focus on the cost of capital to generate the highest returns on our investments in ASIC machines.
Including this new acquisition, the Company notes that in the last 6 months, HIVE has purchased 8,900 new generation ASICs, including the 3,100 units of the Bitmain S19 XP and 5,800 units of the S19k Pro, which have efficiencies of approximately 22 J/TH and 23 J/TH respectively, all with quick delivery timelines and very attractive $/TH prices. Our strategy is to maximize cash flow return on invested capital for Bitcoin ASICs, thus our goal is to make investments that are accretive to our shareholders.
Similarly, last November in the wake of the FTX scandal, when S19j Pro miners for quick delivery were available for as low as $11/TH, HIVE purchased 3,570 machines, which had all been installed within weeks of payment being issued, and as of today have earned approximately 90% to 120% in cash flow of their purchase price (after accounting for electrical operating costs), and these assets are thus soon to be completely free cash flowing.
HIVE has maintained 1% of the Bitcoin network, currently producing over 9 Bitcoin per day, with 4.1 EH/s of ASIC operating capacity. HIVE’s new acquisition of 4,800 S19k Pro ASICs will further increase this operating hashrate once they are installed.
Using data from FactSet, in the last year, the 5 largest Bitcoin miners with US operations have averaged over 65% shareholder dilution, to expand their fleet while we have managed to acquire over 23,000 new Bitcoin mining ASICs in the last year with only 5% dilution. These ASICs include HIVE BuzzMiners, along with the Bitmain S19j Pro, S19k Pro, S19 Pro Plus and the S19 XP. We have used these ASICs to upgrade older legacy ASICs, while increasing our Bitcoin ASIC hashrate by 70% from 2.4 EH/s a year ago, November 2022 to 4.1 EH/s as of November 2023 (this does not include the supplementary hashrate from our GPUs which is an additional 130 PH/s of Bitcoin mining capacity).
This is one example of executing our strategy to focus on cash flow return on invested capital in making financial decisions. These figures represent operational hashrate, with our most efficient profitable machines plugged in, the Company has an additional inventory of ASICs which it may use for future expansion, as it evaluates opportunities for additional megawatt capacity.
With over 23,000 Bitcoin mining ASICs purchased and installed in the last year, plus 1,000 HIVE BuzzMiners and the 4,800 Bitcoin S19k Pros which have been ordered and are arriving in the next 30 days, HIVE has strategically procured over 29,000 Bitcoin ASIC miners since November 2022. This reflects our strategic and analytical approach to secure the best opportunities for our shareholders, as opposed to making large orders all at once and risking dilution.
About HIVE Digital Technologies Ltd.
HIVE Digital Technologies Ltd. went public in 2017 as the first cryptocurrency mining company listed for trading on the TSX Venture Exchange with a sustainable green energy focus.
HIVE is a growth-oriented technology stock in the emergent blockchain and high-performance computing industry. As a company whose shares trade on major stock exchanges, we are building a bridge between the digital currency and blockchain sectors and traditional capital markets. HIVE owns state-of-the-art, green energy-powered data center facilities in Canada, Sweden, and Iceland, where we endeavour 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 BTC derived from mining rewards. Our shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of Bitcoin. Because HIVE also owns hard assets such as data centers and advanced multi-use servers, we believe our shares offer investors an attractive way to gain exposure to the cryptocurrency and high-performance computing space.
We encourage you to visit HIVE’s YouTube channel here to learn more about HIVE.
For more information and to register to HIVE’s mailing list, please visit https://hivedigitaltechnologies.com/ . Follow @HIVEDigitalTech on X and subscribe to HIVE’s YouTube channel.
On Behalf of HIVE Digital Technologies Ltd.
“Frank Holmes”
Executive Chairman
For further information please contact:
Frank Holmes
info@hivedigitaltech.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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Hello,
We’re excited to announce that HIVE Digital Technologies Ltd. (“HIVE”) has completed another fiscal quarter, and we remain deeply committed to maintaining transparency with our loyal shareholders. To ensure you have direct and convenient access to our latest financial achievements, we’re inviting you to view our financial results for the quarter ended September 30, 2023.
GET THE RESULTS HERE.
The presentation, hosted by HIVE Executive Chairman Frank Holmes, President and CEO Aydin Kilic, and Chief Financial Officer Darcy Daubaras, includes a comprehensive review of our financial performance, insightful macro analyses and an overview of our strategies moving forward.
We’re optimistic about the future and eager to share our journey with you. Thank you for being an integral part of HIVE!
WATCH THE PRESENTATION.
Warm regards,
The HIVE Team
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Independent Third Party Proxy Advisory Recommendations
HIVE General Counsel Gabriel Ibghy stated: "We are delighted to receive the news that two prominent independent third-party proxy advisory firms, ISS and Glass Lewis, have both recommended that shareholders vote FOR all the proposed resolutions. This endorsement underscores the strength of our proposals and affirms their alignment with shareholder interests. We appreciate the support and confidence expressed by these respected advisory firms. The collective endorsement of these initiatives is a positive step forward towards our goals.”
YOUR VOTE IS IMPORTANT – PLEASE VOTE TODAY
The proxy voting deadline is 11:00 a.m. (Pacific Time) on Monday, November 27, 2023
Special Meeting Details
The Meeting will be held On November 29, 2023 at Suite 710, 580 Hornby Street, Vancouver, BC V6C 3B6 at 11:00 a.m. (Pacific Time).
Please visit the Annual General and Special Meeting page on our website under Investors for complete details and links to all relevant documents ahead of the Meeting at https://www.hivedigitaltechnologies.com/2023-annual-special-meeting/ .
Questions & Voting
If you have questions about the meeting matters or require voting assistance please contact HIVE‘s proxy solicitation agent, Laurel Hill Advisory Group at:
Laurel Hill Advisory Group
North American Toll Free: 1-877-452-7184 (1-416-304-0211 outside North America)
Email: assistance@laurelhill.com
About HIVE Digital Technologies Ltd.
HIVE is a growth-oriented technology stock in the emergent blockchain industry. As a company whose shares trade on a major stock exchange, we are building a bridge between the digital currency and blockchain sector and traditional capital markets. HIVE owns state-of-the-art, green energy-powered data center facilities in Canada, Sweden, and Iceland, where we endeavor 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. Our shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of Bitcoin. Because HIVE also owns hard assets such as data centers and advanced multi-use servers, we believe our shares offer investors an attractive way to gain exposure to the cryptocurrency space.
For more information and to register to HIVE’s mailing list, please visit http://www.hivedigitaltechnologies.com/ . Follow @HIVEDigitalTech on Twitter and subscribe to HIVE’s YouTube channel.
On Behalf of HIVE Digital Technologies Ltd.
“Frank Holmes”
Executive Chairman
For further information please contact:
Frank Holmes
Tel: (604) 664-1078
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HIVE Digital Expands Global Presence with the Acquisition of
Data Center Facility Located in Sweden
This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated May 10, 2023 to its short form base shelf prospectus dated May 1, 2023.
Vancouver, Canada – HIVE Digital Technologies Ltd. (TSX.V:HIVE) (Nasdaq:HIVE) (FSE:YO0.F) (the “Company” or “HIVE”), a leading digital asset miners and “green” focused data center builder and operator is pleased to announce that it has entered into a property transfer agreement (the “Property Transfer Agreement”) with Turis AB (the “Vendor”) dated November 23, 2023 to acquire (the “Acquisition”) a data center and the real property (together, the “Property”) on which it is situated, located in the city of Boden, Sweden(all amounts in US dollars, unless otherwise indicated).
This strategic investment aligns with HIVE's commitment to build long-term value for its investors through the acquisition and development of substantial assets to be added to its balance sheet. Moreover, this investment further supports HIVE’s sustainable growth and reinforces its position as a key player in the digital technology sector.
Located in Boden, Sweden, in close vicinity of our existing data center, this new data center was previously constructed as part of the EU Horizon 2020 project. We are looking forward to further developing this facility within our global portfolio and utilising it to plug our incoming new generation ASIC servers and increasing our Bitcoin production.
HIVE Sweden Country President Johanna Thornblad stated: “We are pleased about this acquisition and our continued expansion in Boden. The Property is strategically located and provides HIVE with the opportunity to expand its operation, contributing to the company’s overall growth strategy. The new data center will enable HIVE to grow its regional footprint while further demonstrating its commitment to its ESG focus, sustainable practices, environmental responsibility, and energy efficiency with its newest “green” energy powered data center. HIVE is excited about the opportunities that this acquisition brings and looks forward to further contributing to the economic development and prosperity of the Boden community."
Pursuant to the Property Transfer Agreement, HIVE shall acquire the Property as well as certain assets located on-site in exchange for a purchase price payable in both cash and common shares of HIVE: (i) up to $750,000 payable in cash; and (ii) up to $1,500,000 payable in common shares (“Common Shares”) in the capital of the Company in two installments. The price of the Common Shares issued to the Vendor shall be equal to the lower of: (i) the closing price of the Common Shares on the TSX Venture Exchange (the “TSXV”) on the date ending two (2) business days prior to the closing date of the acquisition (the “Closing Date”); and (ii) the average closing price of the Common Shares on the TSXV on the last five days prior to the Closing Date on which the TSXV is open for trading (the “Issue Price”). Notwithstanding the foregoing, the Issue Price shall not be lower than the minimum acceptable price of the TSXV. The first installment of Common Shares shall be composed of such number of Common Shares as is equal to $1,000,000 divided by the Issue Price and shall be paid on the Closing Date. The second installment shall be paid at the later of: (i) the six month anniversary of the Closing Date; and (ii) the date on which any claims made by HIVE within six months of the Closing Date relating to a breach of warranty under the Property Transfer Agreement have been finally settled, and shall be composed of such number of Common Shares equal to $500,000 less any amount payable by the Vendor to the Company in respect of such claim, divided by the Issue Price.
Completion of the Acquisition is subject to certain conditions and the receipt of all necessary regulatory approvals including the approval of the TSXV. All securities issued pursuant to the Property Transfer Agreement shall be subject to a statutory hold period of four months and one day from the date of issuance.
About HIVE Digital Technologies Ltd.
HIVE Digital Technologies Ltd. went public in 2017 as the first cryptocurrency mining company listed for trading on the TSX Venture Exchange with a sustainable green energy focus.
HIVE is a growth-oriented technology stock in the emergent blockchain and high-performance computing industry. As a company whose shares trade on major stock exchanges, we are building a bridge between the digital currency and blockchain sectors and traditional capital markets. HIVE owns state-of-the-art, green energy-powered data center facilities in Canada, Sweden, and Iceland, where we endeavour 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 BTC derived from mining rewards. Our shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of Bitcoin. Because HIVE also owns hard assets such as data centers and advanced multi-use servers, we believe our shares offer investors an attractive way to gain exposure to the cryptocurrency and high-performance computing space.
We encourage you to visit HIVE’s YouTube channel here to learn more about HIVE.
For more information and to register to HIVE’s mailing list, please visit https://hivedigitaltechnologies.com/ . Follow @HIVEDigitalTech on X and subscribe to HIVE’s YouTube channel.
On Behalf of HIVE Digital Technologies Ltd.
“Frank Holmes”
Executive Chairman
For further information please contact:
Frank Holmes
info@hivedigitaltech.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Information
Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian and United States securities legislation and regulations that is based on expectations, estimates and projections as at the date of this news release. “Forward‑looking information” in this news release includes but is not limited to: business goals and objectives of the Company; the acquisition, deployment and optimization of the mining fleet and equipment; the continued viability of its existing Bitcoin mining operations; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
Factors that could cause actual results to differ materially from those described in such forward looking information include, but are not limited to, the volatility of the digital currency market; the Company’s ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company’s operations; the Company’s ability to compete successfully with other cloud computing service providers; the regulatory environment for cryptocurrency in Canada, the United States and the countries where our mining facilities are located; economic dependence on regulated terms of service and electricity rates; the speculative and competitive nature of the technology sector; dependency on continued growth in blockchain and cryptocurrency usage; lawsuits and other legal proceedings and challenges; government regulations; the global economic climate; dilution; future capital needs and uncertainty of additional financing, the transaction described in this news release may not occur on the terms as proposed and described herein or at all and, if such transaction is completed, the cryptocurrency operation may not meet expected performance levels for one or more reasons; the proposed transaction may not have a positive impact on HIVE’s revenues, or gross mining margin; the impact of new electrical power rates which could impair profitability and operating performance; the operation of the acquired assets may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; the volatility of digital currency prices; the Company may never realize more efficient operations, a lower cost structure, or greater flexibility in operation; as well as capital market conditions in general; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology change; the ability to maintain reliable and economical sources of power to run its cryptocurrency mining assets; the impact of energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; share dilution resulting from the ATM Program and from other equity issuances; the construction and operation of facilities may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of electricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power for the Company to operate cryptocurrency mining assets; the risks of an increase in the Company’s electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and the adverse impact on the Company’s profitability; the ability to complete current and future financings, any regulations or laws that will prevent the Company from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of digital currencies, capital market conditions, restriction on labour and international travel and supply chains; and, the adoption or expansion of any regulation or law that will prevent the Company from operating its business, or make it more costly to do so; and other related risks as more fully set out in the Company’s disclosure documents under the Company’s filings at www.sec.gov/EDGAR and www.sedarplus.ca.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s ability to realize operational efficiencies going forward into profitability; profitable use of the Company’s assets going forward; the Company’s ability to profitably liquidate its digital currency inventory as required; historical prices of digital currencies and the ability of the Company to mine digital currencies will be consistent with historical prices; and there will be no regulation or law that will prevent the Company from operating its business. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Regla nº 1: nunca pierdas dinero. Regla nº 2: nunca olvides la regla nº 1.
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HIVE proporciona resultados de la junta de accionistas
Este comunicado de prensa constituye un “comunicado de prensa designado” a los efectos del suplemento del prospecto de la Compañía con fecha del 10 de mayo de 2023 a su prospecto base de formato breve con fecha del 1 de mayo de 2023.
Vancouver, Canadá – HIVE Digital Technologies Ltd. (TSX.V:HIVE) (Nasdaq:HIVE) (FSE:YO0.F) (la “Compañía” o “HIVE”) se complace en anunciar que todas las resoluciones consideradas en su reunión anual de 2023 La asamblea general y extraordinaria de accionistas celebrada el 29 de noviembre de 2023 (la “Asamblea”) fueron aprobadas por sus accionistas.
Accionistas aprueban resoluciones
Los acuerdos adoptados por los accionistas presentes o representados en la Junta fueron:
El tamaño del consejo de administración de la Sociedad (el “Consejo”) se fijó en cuatro (4) para el año siguiente.
Todos los candidatos a directores fueron debidamente reelegidos para el Directorio. En consecuencia, la junta directiva de HIVE sigue compuesta por Frank Holmes, Susan McGee, Marcus New y Dave Perrill. Cada director desempeñará sus funciones hasta la próxima reunión anual de accionistas de HIVE o hasta que sus respectivos sucesores sean elegidos o designados o hasta que dejen de ocupar sus cargos.
Davidson & Company LLP fue reelegido auditor externo independiente de HIVE para el año siguiente o hasta que se nombre a su sucesor, y la Junta fue autorizada a fijar su remuneración.
Se volvió a aprobar el plan de opciones sobre acciones de incentivo modificado de la Compañía.
Se volvió a aprobar el plan modificado de unidades de acciones restringidas de la Compañía.
Las resoluciones votadas en la reunión se describen con más detalle en la Circular de información gerencial de HIVE, de fecha 23 de octubre de 2023, que se envió por correo a los accionistas y está disponible en el perfil SEDAR+ de la Compañía en www.sedarplus.ca.
Preguntas de los accionistas
Los accionistas que tengan alguna pregunta o requieran ayuda con la votación pueden comunicarse con el agente de solicitud de poderes y el asesor de comunicaciones con los accionistas de la Compañía:
Grupo Asesor de Laurel Hill
Número gratuito: 1-877-452-7184 (para accionistas en Norteamérica)
Internacional: +1 416-304-0211 (para accionistas fuera de Canadá y EE. UU.)
Por correo electrónico: asistencia@laurelhill.com
Acerca de HIVE Digital Technologies Ltd.
HIVE Digital Technologies Ltd. salió a bolsa en 2017 como la primera empresa minera de criptomonedas que cotiza en TSX Venture Exchange con un enfoque en energía verde sostenible.
HIVE es una acción tecnológica orientada al crecimiento en la emergente industria blockchain. Como empresa cuyas acciones cotizan en una importante bolsa de valores, estamos construyendo un puente entre el sector de la moneda digital y blockchain y los mercados de capital tradicionales. HIVE posee instalaciones de centros de datos de última generación que funcionan con energía verde en Canadá, Suecia e Islandia, donde nos esforzamos por obtener energía verde para extraer activos digitales como Bitcoin en la nube. Desde principios de 2021, HIVE ha mantenido en almacenamiento seguro la mayor parte de su tesorería de ETH y BTC derivada de recompensas mineras. Nuestras acciones brindan a los inversores exposición a los márgenes operativos de la minería de moneda digital, así como a una cartera de Bitcoin. Dado que HIVE también posee activos tangibles, como centros de datos y servidores avanzados de usos múltiples, creemos que nuestras acciones ofrecen a los inversores una forma atractiva de ganar exposición al espacio de las criptomonedas.
Le recomendamos que visite el canal de YouTube de HIVE aquí para obtener más información sobre HIVE.
Para obtener más información y registrarse en la lista de correo de HIVE, visite www.HIVEdigitaltechnologies.com. Siga a @HIVEDigitalTech en Twitter y suscríbase al canal de YouTube de HIVE.
En nombre de HIVE Digital Technologies Ltd.
“Frank Holmes”
Presidente ejecutivo
Para más información póngase en contacto:
Frank Holmes
info@hivedigitaltech.com
Regla nº 1: nunca pierdas dinero. Regla nº 2: nunca olvides la regla nº 1.
AVISO IMPORTANTE: El contenido de éste y otros mensajes que puedas leerme son opiniones para fines informativos y no pretenden ni pueden ser consejos, asesoramiento o recomendaciones de inversión. NO SE OFRECE CONSEJO DE INVERSIÓN. Ninguno de los autores es economista ni experto financiero. Busca asesoramiento profesional si quieres recomendaciones de inversión.
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HIVE Digital Announces New Purchase of 5,000 Bitmain S19k Pro ASIC Miners as Our Production Approaches 5 Exahash
This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated May 10, 2023, to its short form base shelf prospectus dated May 1, 2023.
Vancouver, Canada – HIVE Digital Technologies Ltd. (TSX.V:HIVE) (Nasdaq:HIVE) (FSE:YO0.F) (the “Company” or “HIVE”), a leading digital asset miner and “green” focused data center builder and operator provides a strategic update and announces the purchase of 5,000 Bitmain S19k Pro ASIC miners (all amounts in US dollars, unless otherwise indicated).
With an efficiency of 23 joules per terahash (“J/TH”), these 5,000 S19k Pro ASIC miners are expected to be delivered within 30 days and will allow us to upgrade a portion of our fleet improving our average J/TH efficiency, while their fast-tracked delivery will also enable HIVE to quickly generate cash flow and returns. The Company expects these latest generation machines to be cash flow positive after the Bitcoin halving next year. This purchase is in addition to the 4,800 S19k Pro miners announced on November 14, 2023.
The installation of the new 5,000 S19k Pro miners will significantly improve our global fleet efficiency, enhancing it to approximately 29 J/TH. This latest purchase demonstrates our focus on growing our hash rate, while also improving our overall average fleet efficiency which will lower and optimize our cost of production per Bitcoin ahead of the upcoming Bitcoin halving in April 2024 with our goal to hit 6.0 Exahash.
HIVE has procured approximately 29,000 ASICs since the recent bottom of the market in November 2022, totaling approximately 3.35 Exahash.
Each ASIC miner purchase has been made with the intent to maximize return on invested capital by seeking machine offers with low $/TH prices and near immediate delivery. This reflects our strategic and analytical approach to secure the best opportunities for our shareholders, as opposed to making large orders, with drawn out delivery periods, risking dilution and vulnerability to market changes.
About HIVE Digital Technologies Ltd.
HIVE Digital Technologies Ltd. went public in 2017 as the first cryptocurrency mining company listed for trading on the TSX Venture Exchange with a sustainable green energy focus.
HIVE is a growth-oriented technology stock in the emergent blockchain and high-performance computing industry. As a company whose shares trade on major stock exchanges, we are building a bridge between the digital currency and blockchain sectors and traditional capital markets. HIVE owns state-of-the-art, green energy-powered data center facilities in Canada, Sweden, and Iceland, where we endeavor 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 BTC derived from mining rewards. Our shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of Bitcoin. Because HIVE also owns hard assets such as data centers and advanced multi-use servers, we believe our shares offer investors an attractive way to gain exposure to the cryptocurrency and high-performance computing space.
We encourage you to visit HIVE’s YouTube channel here to learn more about HIVE.
For more information and to register to HIVE’s mailing list, please visit https://hivedigitaltechnologies.com/ . Follow @HIVEDigitalTech on X and subscribe to HIVE’s YouTube channel.
On Behalf of HIVE Digital Technologies Ltd.
“Frank Holmes”
Executive Chairman
For further information please contact:
Frank Holmes
info@hivedigitaltech.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Information
Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian and United States securities legislation and regulations that is based on expectations, estimates and projections as at the date of this news release. “Forward‑looking information” in this news release includes but is not limited to: business goals and objectives of the Company; the acquisition, deployment and optimization of the mining fleet and equipment; the continued viability of its existing Bitcoin mining operations; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
Factors that could cause actual results to differ materially from those described in such forward looking information include, but are not limited to, the volatility of the digital currency market; the Company’s ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company’s operations; the Company’s ability to compete successfully with other cloud computing service providers; the regulatory environment for cryptocurrency in Canada, the United States and the countries where our mining facilities are located; economic dependence on regulated terms of service and electricity rates; the speculative and competitive nature of the technology sector; dependency on continued growth in blockchain and cryptocurrency usage; lawsuits and other legal proceedings and challenges; government regulations; the global economic climate; dilution; future capital needs and uncertainty of additional financing, the transaction described in this news release may not occur on the terms as proposed and described herein or at all and, if such transaction is completed, the cryptocurrency operation may not meet expected performance levels for one or more reasons; the proposed transaction may not have a positive impact on HIVE’s revenues, or gross mining margin; the impact of new electrical power rates which could impair profitability and operating performance; the operation of the acquired assets may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; the volatility of digital currency prices; the Company may never realize more efficient operations, a lower cost structure, or greater flexibility in operation; as well as capital market conditions in general; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology change; the ability to maintain reliable and economical sources of power to run its cryptocurrency mining assets; the impact of energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; share dilution resulting from the ATM Program and from other equity issuances; the construction and operation of facilities may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of electricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power for the Company to operate cryptocurrency mining assets; the risks of an increase in the Company’s electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and the adverse impact on the Company’s profitability; the ability to complete current and future financings, any regulations or laws that will prevent the Company from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of digital currencies, capital market conditions, restriction on labour and international travel and supply chains; and, the adoption or expansion of any regulation or law that will prevent the Company from operating its business, or make it more costly to do so; and other related risks as more fully set out in the Company’s disclosure documents under the Company’s filings at www.sec.gov/EDGAR and www.sedarplus.ca.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s ability to realize operational efficiencies going forward into profitability; profitable use of the Company’s assets going forward; the Company’s ability to profitably liquidate its digital currency inventory as required; historical prices of digital currencies and the ability of the Company to mine digital currencies will be consistent with historical prices; and there will be no regulation or law that will prevent the Company from operating its business. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Regla nº 1: nunca pierdas dinero. Regla nº 2: nunca olvides la regla nº 1.
AVISO IMPORTANTE: El contenido de éste y otros mensajes que puedas leerme son opiniones para fines informativos y no pretenden ni pueden ser consejos, asesoramiento o recomendaciones de inversión. NO SE OFRECE CONSEJO DE INVERSIÓN. Ninguno de los autores es economista ni experto financiero. Busca asesoramiento profesional si quieres recomendaciones de inversión.
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