HIVE Blockchain Announces Landmark Deal to Buy New High Performing ASIC Chips From Intel and a 100 MW Renewable Energy Deal in Texas – Press Release

This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated February 2, 2021 to its amended and restated short form base shelf prospectus dated January 4, 2022.

We are announcing a supply agreement with Intel Corporation (Nasdaq:INTC) (“Intel”) to purchase new high performing ASIC chips that will be incorporated into state-of-the-art mining equipment that will be custom built for HIVE.

We also are announcing that HIVE has entered into a letter of intent with Compute North LLC (“Compute North”) to host 100 megawatt (“MW”) of mining capacity in one of their new Texas renewable energy data centre facilities. This facility would be our first mining operation in the United States.

Intel Supply Agreement

Frank Holmes, the Executive Chairman said he is thrilled to see the HIVE executive team work together to strategically position the Company to expand into the US with two significant deals. First, HIVE has entered into a Supply Agreement with Intel which is one of the world’s largest semiconductor manufacturers, for their upcoming blockchain accelerator.

The Company has also entered into a manufacturing agreement with an ODM (original design manufacturer) that has expertise in electronics manufacturing. The ODM will integrate Intel’s blockchain accelerators into an air-cooled Bitcoin mining system. HIVE’s engineering team will draw on its expertise in hardware and software implementation and will work closely with Intel and the ODM partner on the systems integration. These miners are expected to be delivered over a period of one year starting in the second half of calendar 2022, the effect of which, if they are all installed, would be an expected increase of up to 95% in our aggregate Bitcoin mining hashrate from 1.9 Exahash per second.

Aydin Kilic President & COO of HIVE said, “After months of careful planning, we are very excited to take this step forward with a global technology leader like Intel. HIVE…

Original Source of the original story >> HIVE Blockchain Announces Landmark Deal to Buy New High Performing ASIC Chips From Intel and a 100 MW Renewable Energy Deal in Texas

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