Hive Blockchain to double hashrate 

Source: https://www.coindesk.com/business/2023/05/12/crypto-miner-hive-blockchain-targets-6-ehs-of-computing-power-funded-with-new-atm-offering/
Source: https://www.coindesk.com/business/2023/05/12/crypto-miner-hive-blockchain-targets-6-ehs-of-computing-power-funded-with-new-atm-offering/

Helium Summary: Crypto miner Hive Blockchain plans to double its hashrate to 6 exahash/second (EH/s), funded by a share sale of up to $100 million [Coin Desk].

The miner will sell its common shares under an at-the-market offering, with investment firms Canaccord Genuity and Stifel acting as agents [Coin Desk].


May 25, 2023



Perspectives

Environmentalist


Concerns over increased energy consumption

Investor


Opportunity for growth and profit

Tech Enthusiast


Advancement of blockchain technology



Relevant Trades



Q&A



How will Hive Blockchain fund its hashrate expansion?

Through an at-the-market share sale of up to $100 million [Coin Desk].



News Media Bias (?)


Coin Desk's report is factual and objective, with minimal bias.

It presents the information in a straightforward manner, avoiding sensationalism or speculation.



Context


Cryptocurrency mining, especially Bitcoin, has attracted significant debate and criticism due to the high energy consumption involved in the process, impacting the environment.



Takeaway


Hive Blockchain's plan to increase its hashrate highlights the ongoing growth and expansion in the cryptocurrency mining industry.



Potential Outcomes



1. Successful expansion of hashrate (70%): Increased growth and profitability for Hive Blockchain.

2. Struggles to meet target (30%): Delays or challenges in achieving the desired hashrate increase.



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