HIVE's first expansion in Sweden almost ready!

HIVE's first major expansion project is due to go live in early January 2018

Shareholders in HIVE will do well to remember that they are due to complete their first major expansion in Sweden early this January. This comes shortly after they announced the full closure of their staggering $115 million private placement on 29 December 2017.

The first of several planned expansions, this one will increase HIVE’s cryptocurrency mining capacity or hashpower by approximately 175%. Following this, the company is expected to further expand in Iceland and Sweden resulting in an increased energy consumption dedicated to digital currency mining from a targeted 17.4 megawatts (“MW”) in March 2018 to 24.2 MW in April 2018, escalating to an expected 44.2 MW by September 2018.

It is interesting to note that as a result of their last private placement, Hive Blockchain currently holds an additional $50 million in cash reserves. This writer wonders what plans the company has for expansion and acquisition. It is also worthy to note that the price of Ethereum has more than doubled (touching $1000 USD as of 04 January 2018) since Hive's initial forward looking guidance from October (when Ethereum was hovering around the $400 USD mark).

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Disclosure: The author owns shares of HIVE and plans to buy more in the near future.