Blockchain
RETRANSMISSION: HIVE Blockchain Provides April 2023 Production Update with 9% Increase in Month Over Month Hashrate
Vancouver, British Columbia–(Newsfile Corp. – May 4, 2023) – HIVE Blockchain Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: HBFA) (the “Company” or “HIVE”) is pleased to announce the production figures from the Company’s global Bitcoin operations for the month of April 2023, with 273 Bitcoin produced in April, and a current BTC HODL balance of approximately 2,284 (as of May 1, 2023). (all amounts in US dollars, unless otherwise indicated).
Summary Overview:
- HIVE produced 273 Bitcoin in the month of April, from ASIC and GPU mining operations, representing an average of 81 Bitcoin Per Exahash, with an average hashrate of 3.38 Exahash per second (“EH/s”) for the month of April 2023, a 9% month over month increase in average hashrate;
- HIVE produced an average of 9.1 BTC per day in April 2023;
- HIVE has manufactured, tested, received and installed 5,750 BuzzMiners in its data centers, all of which are operating as of today;
- HIVE ended the month with 3.38 EH/s of mining capacity, including ASIC and GPU BTC hashrate;
- HIVE sold all of the Bitcoin earned from our GPU mining hashrate payouts.
April 2023 Production Figures
Frank Holmes, Executive Chairman of HIVE stated, “We are very happy to be producing 273 Bitcoin while difficulty has reached an all-time high. Additionally, our monthly HPC income has increased by 24% month over month, from March to April.”
Aydin Kilic, President & CEO of HIVE noted, “We are continuing to optimize our ASIC operations, by managing the efficiency of our machines to operate for best profit on a $/MWHR basis, this may involve down-clocking the firmware for some miners in our fleet to obtain a better J/TH efficiency figure, and thus a better $/MWHR profit figure. We strive to optimize for profitable mining, where the analytics of the HIVE technical team provide a competitive edge in our approach to digital asset mining. Additionally, for the month of April our GPU fleet was generating approximately $109/MWHR in revenue, which is higher than many ASICs on the Bitcoin network were earning in April. Code-based optimizations are just one tool we use to optimize our gross mining margins and deliver value for shareholders.”
The Company’s total Bitcoin production in April 2023 was:
- 273 BTC produced;
- 9.1 BTC produced per day on average;
- 3.3 Exahash of BTC hashrate as of April 30, comprised of 3.14 EH/s of ASIC BTC hashrate and 0.16 EH/s of GPU BTC equivalent hashrate;
- Monthly average of 3.38 EH/s, which is equal to 81 Bitcoin per Exahash, comprised of an average of 3.15 EH/s of ASIC mining capacity and average of 230 PH/s of Bitcoin GPU mining capacity during the month;
- This represents a 9% month over month increase in average hashrate (March was 3.09 EH/s average hashrate).
Bitcoin Global Network Mining Difficulty Is Volatile
Network difficulty factors are a significant variable in the Company’s gross profit margins. The Bitcoin network difficulty was 46.84T as of April 1, and increased to 48.71T as of April 30, reaching an all-time high. Accordingly, Bitcoin mining difficulty ended the month about 4% higher than the beginning of the month.
The Bitcoin Network Difficulty is a publicly available statistic, which reflects the total number of Bitcoin miners online and is important in analyzing a company’s gross profit margins, and number of Bitcoin produced. This data is available on many websites, here is one citation: https://www.blockchain.com/explorer/charts/difficulty.
As more people mine Bitcoin (difficulty increases), the daily Bitcoin block reward which presently is fixed at 900 Bitcoin per day, gets split amongst more miners; thus each miner receives a smaller portion of the block reward. Conversely, as Bitcoin prices fall, many miners may lose money, and power down, thus taking their hashrate off the network, causing Network Difficulty to decrease.
Those miners with the lowest costs of production; by virtue of having more efficient machines and/or lower energy costs, are able to continue their production during these volatile cycles. Not all miners will continuously mine during the month, as a result some miners will produce less Bitcoin than expected, relative to their advertised hashrate. For the foregoing reasons, HIVE will self-curtail part of its operations if the unhedged spot energy prices are uneconomical, thereby leaving part of its total gross hashrate unutilized.
All Bitcoin miners are striving to use the most efficient Bitcoin ASIC chips, and we are happy that we have been able to upgrade our global fleet during this crypto market downturn.
Sweden Datacenters Help Stabilize Electrical Grid During Major Blackout
On April 26, the capital of Sweden, Stockholm, was hit by a serious power outage. The consequences were great for several industries and subway and commuter train traffic came to a standstill. Hive’s datacenters in northern Sweden assisted with more than 20 MW on demand response, able to power down, and thus help to quickly stabilize the electricity grid and help mitigate repercussions for the utility provider.
About HIVE Blockchain Technologies Ltd.
HIVE Blockchain Technologies Ltd. went public in 2017 as the first publicly traded cryptocurrency mining company with a green energy focus.
HIVE is a growth-oriented technology stock in the emergent blockchain industry. As a company whose shares trade on a major stock exchange, we are building a bridge between the digital currency and blockchain sector and traditional capital markets. HIVE owns state-of-the-art, green energy-powered data centre facilities in Canada, Sweden, and Iceland, where we endeavour to source green energy to mine digital assets such as Bitcoin on the cloud. Since the beginning of 2021, HIVE has held in secure storage the majority of its treasury of ETH and BTC derived from mining rewards. Our shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of Bitcoin. Because HIVE also owns hard assets such as data centers and advanced multi-use servers, we believe our shares offer investors an attractive way to gain exposure to the cryptocurrency space.
We encourage you to visit HIVE’s YouTube channel here to learn more about HIVE.
For more information and to register to HIVE’s mailing list, please visit www.HIVEblockchain.com. Follow @HIVEblockchain on Twitter and subscribe to HIVE’s YouTube channel.
On Behalf of HIVE Blockchain Technologies Ltd.
“Frank Holmes”
Executive Chairman
For further information please contact:
Frank Holmes
Tel: (604) 664-1078
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release
Forward-Looking Information
Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes, but is not limited to, business goals and objectives of the Company; the results of operations for April 2023; the HODL strategy adopted by the Company; the acquisition, deployment and optimization of the mining fleet and equipment; the continued viability of its existing Bitcoin mining operations; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the volatility of the digital currency market; the Company’s ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company’s operations; the volatility of digital currency prices; continued effects of the COVID-19 pandemic may have a material adverse effect on the Company’s performance as supply chains are disrupted and prevent the Company from carrying out its expansion plans or operating its assets; and other related risks as more fully set out in the registration statement of Company and other documents disclosed under the Company’s filings at www.sec.gov/EDGAR and www.sedar.com.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s objectives, goals or future plans, the timing thereof and related matters. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Blockchain
Blocks & Headlines: Today in Blockchain (Ethereum, Quantum Emotions, Pepeto, Zeus Investments, AgileGTM)
Ethereum’s Challenges Highlight the Importance of Blockchain Integrity
Ethereum, once hailed as the undisputed king of smart contract platforms, is facing mounting criticism over scalability issues and increasing centralization concerns. Critics argue that Ethereum’s looming challenges serve as a cautionary tale about the importance of maintaining blockchain integrity in the pursuit of innovation.
The network’s shift to proof-of-stake has introduced debates about validator centralization and network control. As transaction fees remain high and competition from newer blockchains intensifies, Ethereum’s journey underscores the delicate balance between growth and decentralization in the blockchain ecosystem.
Source: Bitcoin Magazine
Quantum Emotions Introduces Revolutionary Quantum Wallet
Quantum Emotions, a pioneering quantum technology firm, has unveiled its groundbreaking quantum wallet designed to provide unprecedented security for blockchain users. Leveraging quantum random number generators, the wallet ensures ultra-secure private key management and protection against emerging quantum threats.
As the blockchain industry prepares for a quantum computing era, innovations like this wallet highlight the need to future-proof digital assets. Quantum Emotions’ solution is a step forward in safeguarding the integrity of blockchain transactions in an increasingly complex technological landscape.
Source: Finance Yahoo
Pepeto Simplifies Cross-Chain Trading for Blockchain Users
Pepeto, a trailblazer in the blockchain space, is revolutionizing cross-chain trading with its user-friendly platform. By simplifying blockchain transfers across different networks, Pepeto addresses a significant pain point for users navigating the complexities of decentralized finance (DeFi).
The platform’s intuitive interface and efficient protocols enable seamless asset transfers while reducing transaction costs and processing times. As interoperability becomes a crucial factor in the blockchain sector, Pepeto’s innovation is set to reshape how users interact with decentralized ecosystems.
Source: Bitcoinist
Zeus Investments Launches Blockchain Research Division
Zeus Investments has announced the launch of its dedicated blockchain research division, aimed at driving innovation and identifying strategic opportunities in the blockchain sector. The division will focus on exploring emerging technologies, evaluating market trends, and fostering partnerships with industry leaders.
By committing resources to blockchain research, Zeus Investments signals its belief in the transformative potential of decentralized technologies. This initiative underscores the growing interest among traditional financial institutions in harnessing blockchain’s disruptive capabilities.
Source: Finance Yahoo
AgileGTM Blockchain Fund Secures $2M in First Close of $10M VC Fund
AgileGTM has achieved a significant milestone by securing $2 million in the first close of its $10 million pan-European blockchain venture capital fund. The fund aims to support early-stage blockchain startups across Europe, focusing on innovative solutions in areas such as DeFi, NFTs, and enterprise applications.
This development highlights the increasing appetite for blockchain investment and the role of venture capital in accelerating the growth of the industry. AgileGTM’s initiative reflects the potential for blockchain to drive economic transformation and innovation across diverse sectors.
Source: Tech.eu
The post Blocks & Headlines: Today in Blockchain (Ethereum, Quantum Emotions, Pepeto, Zeus Investments, AgileGTM) appeared first on News, Events, Advertising Options.
xPortal, the AI-powered DeFi super-app, has acquired Alphalink, a Berlin-based Web3 startup recognized for delivering delightfully simple crypto experiences through its mobile app. The acquisition marks a major milestone in xPortal’s goal to simplify crypto and financial investing.
With over 2.5 million users and a 4.8-star rating from 70K+ app store reviews, xPortal combines crypto, real-world functionality, and AI into a single, user-friendly mobile app.
xPortal launched in 2023 as the wallet for the MultiversX blockchain (prev. Elrond) and quickly expanded into multi-chain territory, integrating Bitcoin, Ethereum, Solana, Polygon and more.
As part of its growth strategy, xPortal is raising capital in an anticipated oversubscribed round while making a full-scale push into AI, expanding into the U.S. and launching a native token to its ecosystem
Active xPortal users will also benefit from lucrative opportunities that will further fuel the ecosystem.
Empowered Leadership
Through the acquisition, xPortal brings seasoned FinTech and crypto innovators Marko Bradic as Co-founder and Chief Product Officer (CPO) and Mohit Tilwani as Co-founder and Chief Technology Officer (CTO) to complement the dream team together with Sergiu Biris, Co-founder and CEO of xPortal.
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Marko Bradic (ex-CEO of Alphalink) previously scaled Trade Republic – the $5B European Robinhood backed by Sequoia – to 4 million users, €180 million in annual revenue, and €35 billion in AUM.
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Mohit Tilwani (ex CTO of Alphalink) brings over a decade of engineering experience to xPortal. Served as the first engineering lead at Trade Republic, he scaled systems to support 8 million customers.
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Sergiu Biris (CEO of xPortal) is a serial entrepreneur with over 20 years of experience. He was the co-founder of LiveRail, a video advertising platform acquired by Facebook (now Meta) in 2014 for $500 million.
“Marko and Mohit’s experience in building and scaling world-class fintech products aligns perfectly with xPortal’s mission to make crypto easy to use and accessible to everyone. Their expertise strengthens our vision of blending crypto and AI with real-world utility. I’m extremely excited about what we’re going to be building together in the years to come.” – Sergiu Biris, Co-founder and CEO of xPortal
Beniamin Mincu, Co-founder and CEO of MultiversX added: “Through the acquisition of Alphalink xPortal is taking a bold step towards the future. One where crypto is merging with AI to deliver the best experiences to everyday users. xPortal started as a core part of MultiversX and, driven by this team of world class founders, is now becoming independent, creating its own story. I believe xPortal is poised to drive global crypto adoption, bringing unparalleled value to its users and the broader Web3 space.”
DeFi to DeFAI: What if your money had Brains?
Leading the paradigm shift from DeFi to DeFAI, xPortal is transforming how users interact with money. Making crypto easy and accessible for everyone, xPortal is building a vertically integrated network of specialized DeFAI agents that work autonomously, simplifying complex user tasks and removing onboarding and engagement friction through seamless chain management.
With features like effortless on-off ramps, cross-chain trading, staking, Web3 dApp integration, and Mastercards for everyday payments, the super-app bridges the gap between crypto and real-world utility.
The post xPortal Acquires Alphalink to Drive Innovation at the Intersection of AI and Crypto appeared first on News, Events, Advertising Options.
Blockchain
Humanity Protocol and Open Campus Partner to Integrate Achievements and Interoperable Credentials for Decentralized Education
Humanity Protocol, the leader in on-chain Proof of Humanity (PoH) and decentralized identity, is thrilled to announce its strategic partnership with Open Campus (EDU), the Web3 education protocol.
This collaboration will redefine digital identity and credentialing for learners, educators, and developers, enabling interoperable, privacy-preserving credentials that can be seamlessly used across decentralized ecosystems.
Humanity Protocol’s Self-Sovereign Identity (SSI) framework and Proof of Humanity (PoH) technology ensure Sybil-resistant, verified human authentication for Web3 applications. Open Campus complements this by empowering users with tools to issue, manage, and utilize education-related credentials through its Open Campus ID and Achievements System.
Together, the two projects aim to unlock a future where identity and educational credentials are secure, interoperable, and privacy-focused.
At the core of this partnership is the integration of Open Campus Achievements and Open Campus ID with Humanity Protocol’s decentralized identity graph. This integration ensures that credentials issued on Open Campus are validated and interoperable, allowing users to showcase their verified educational accomplishments across Web3 platforms.
Key features of the collaboration include:
- Achievement Verification: Open Campus will focus on issuing education-related credentials, such as course completions, certifications, and learning milestones. These Achievements will be authenticated using Humanity Protocol’s verifiable credential (VC) framework, enabling secure and portable credentialing.
- Interoperable Identity: Open Campus ID will integrate with Humanity Protocol’s Proof of Humanity, providing users with privacy-preserving, Sybil-resistant identities. These identities will enable users to leverage their credentials in governance, professional, and educational applications.
The partnership between Humanity Protocol and Open Campus introduces new use cases that benefit learners, educators, and developers. Users can create portable, privacy-preserving portfolios combining Proof of Humanity and verified Open Campus Achievements. These portfolios can be used in professional and academic settings to showcase skills and accomplishments securely.
Learners and educators can leverage their interoperable identities to participate in governance activities on both Humanity Protocol and Open Campus platforms. By tying voting to verified individuals, governance becomes more transparent and fair. dApp developers can build applications that integrate Humanity Protocol’s identity verification with Open Campus’s credentialing, enabling innovations in decentralized education, recruitment, and professional networking.
In addition to technical integration, Humanity Protocol will actively support Open Campus in its ongoing conversations with educational institutions. By providing expertise in decentralized identity and credentialing, Humanity Protocol will help Open Campus establish trust and drive adoption of its Achievements and Open Campus ID among schools, universities, and certification bodies.
This collaboration strengthens the bridge between traditional education systems and the decentralized future. Humanity Protocol’s zkProofers will ensure that all verifications remain privacy-focused. Users will be able to prove their identities and credentials without exposing sensitive personal data, enabling secure and trustworthy interactions in education, governance, and professional contexts. By integrating these privacy-preserving solutions, the partnership ensures that credentials remain both secure and portable across ecosystems.
Terence Kwok, Founder and CEO of Humanity Protocol says: “Our partnership with Open Campus marks a significant milestone in integrating decentralized identity with education. By combining Proof of Humanity with Open Campus Achievements and Open Campus ID, we empower learners and educators to take control of their credentials in a way that is secure, interoperable, and privacy-focused. Humanity Protocol is also proud to support Open Campus in its ongoing conversations with educational institutions, helping to bridge Web3 innovation with traditional education systems.”
Jonah Lau, Head of Open Campus (EDU) and Portfolio Management, Animoca Brand says: “Collaborating with Humanity Protocol enhances the usability and security of Open Campus Achievements and IDs. By integrating with Proof of Humanity, we’re ensuring that learners and educators can seamlessly use their credentials across Web3, paving the way for a more interconnected and equitable decentralized education ecosystem. This partnership positions Open Campus as a leader in Web3 education innovation.”
The post Humanity Protocol and Open Campus Partner to Integrate Achievements and Interoperable Credentials for Decentralized Education appeared first on News, Events, Advertising Options.
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