What is going on with HVBTF?
HIVE Blockchain Technologies (HVBTF) stock fell today after the company announced its recent expansion in Sweden with a 4.6 megawatt (MW) facility in the town of Robertsfors. This brings the total capacity in Sweden to more than 33 MW and 133 MW worldwide. Shares of HVBTF declined 3.5% to $2.35 as of Monday at 10:58 a.m.
HIVE Blockchain Technologies Ltd. went public in 2017 as the first cryptocurrency mining company with a green energy and ESG strategy. The company owns state-of-the-art green energy-powered data center facilities in Canada, Sweden, and Iceland which produce newly minted digital currencies like Bitcoin and Ethereum continuously on the cloud.
What does this mean for HIVE Blockchain Technologies?
HIVE's further expansion in Sweden is consistent with their ESG strategy to invest in cold climate locations with access to stable, low-cost, green, and renewable energy sources. To date, HIVE has only invested in areas with green energy, and Robertsfors' "Diamond Factory" is well known for its environmentally friendly energy sources.
Frank Holmes, Executive Chairman, commented, "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."
HIVE has been operating in Sweden since 2018.
HVBTF has a Short-Term Technical Rank of 22. Find out what this means to you and get the rest of the rankings on HVBTF!
HIVE Blockchain Technologies Ltd is in the business of providing infrastructure solutions in the blockchain industry, including the mining of digital currencies. Its projects include Iceland Cryptocurrency Mining Project.
