NASDAQ-Listed HIVE Blockchain to Expand Data Center in New Brunswick, Canada With 40 Megawatts Capacity

By October 12, 2021DeFi
Click here to view original web page at news.bitcoin.com

HIVE Blockchain is set to expand its data center campus in New Brunswick, Canada with 40 megawatts capacity. It is the first publicly-traded cryptocurrency miner, listing in Toronto on the Venture Exchange back in 2017 and added to NASDAQ in 2021. It mines both Bitcoin and Ethereum using 100% green energy in facilities across Canada, Sweden, and Iceland.

HIVE Blockchain to Expand Data Center in New Brunswick, Canada

HIVE Blockchain Technologies (NASDAQ: HIVE, TSX.V: HIVE) will soon begin testing a new high-performance computing cloud hosting operation. At the company’s largest data center campus in New Brunswick, Canada, where it owns the land, the team is currently building expansions from the ground-up (“greenfield expansions”), which will provide it with 40 megawatts of data center capacity.

Construction at the New Brunswick Build-Out

HIVE currently operates 5 data center campuses, where they are mining both Bitcoin and Ethereum. HIVE’s data centers already have access to approximately 50 megawatts of power, placing it among the largest and most diversified of any publicly-listed cryptocurrency miner. These facilities are located in Canada, Sweden, and Iceland, countries that offer a winning combination of cool climates and politically stable jurisdictions. Additionally, these locations offer unique access to abundant green energy, so all of the HIVE data centers are powered by clean, low-cost hydroelectric or geothermal power.

Owning the facilities where they are operating data centers is key to HIVE’s long-term strategy. For one thing, they don’t have to worry about any landlords raising the rent at these facilities. And as you can see they can choose locations with access to some of the cheapest, greenest, and cleanest power in the world. Owning data centers also gives the company greater flexibility in a few ways. For example, if there’s another “crypto winter”, the company could offer hosting services while still mining crypto with its own machines, and holding as many of the coins mined as possible until the prices rise again.

A Bridge Between Digital Currency and the Stock Markets

HIVE is a growth-oriented technology stock in the corporate blockchain industry. As a company whose shares trade on a major stock exchange, they are building a bridge between the digital currency and blockchain sector and traditional capital markets.

Since the beginning of 2021, HIVE has held in secure storage the majority of its ETH and BTC coin mining rewards. Its shares thus provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of cryptocurrencies such as ETH and BTC, in a way that they are familiar with and that complies with regulations.

NASDAQ-Listed HIVE Blockchain to Expand Data Center in New Brunswick, Canada With 40 Megawatts Capacity
Mining Machines at HIVE Blockchain Data Center in New Brunswick, Canada

Because HIVE also owns hard assets such as data centers and advanced multi-use servers, the shares offer investors a diversified and robust way to gain exposure to the cryptocurrency space. This is probably why HIVE traded over 2 billion shares in 2020 alone.

To learn more about HIVE Blockchain check out the company’s website and follow the team on YouTube, Twitter, Instagram or Facebook.

This is a sponsored post. Learn how to reach our audience here. Read disclaimer below.

Listen to the latest Bitcoin.com Podcast:

rhoToken Successfully Launched on Flurry Finance DApp
Akt.io Shows How DeFi Is Shaping the Future and Why Financial Institutions Are Ripe for Disruption
Akt.io Shows How DeFi Is Shaping the Future and Why Financial Institutions Are Ripe for Disruption

Image Credits: Shutterstock, Pixabay, Wiki Commons

All Today's Crypto News In One Place