Blockchain
HIVE Blockchain Provides May 2023 Production Update and the Growth Opportunities of Ordinals and Unique Satoshis
This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated May 10, 2023 to its short form base shelf prospectus dated May 1, 2023.
Vancouver, British Columbia–(Newsfile Corp. – June 9, 2023) – HIVE Blockchain Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: HBFA) (the “Company” or “HIVE”) is pleased to announce the unaudited production figures from the Company’s global Bitcoin operations for the month of May 2023, with 304.6 Bitcoin produced in May, and a current BTC HODL balance of approximately 1,950 (as at June 1st). Additionally, the Company announces it has a treasury of 250 valuable Uncommon Satoshis mined from block rewards in our wallets. (all amounts in US dollars, unless otherwise indicated).
Summary Overview:
- HIVE produced 304.6 Bitcoin in the month of May, from ASIC and GPU mining operations, representing an average of 92.4 Bitcoin Per Exahash, with an average hashrate of 3.30 EH/s for the month of May 2023;
- HIVE produced an average of 9.8 BTC per day in May 2023;
- HIVE ended the month with 3.32 EH/s of mining capacity, including ASIC and GPU BTC hashrate.
May 2023 Production Figures
Aydin Kilic, President & CEO of HIVE, noted, “We are starting to receive shipments of our 1.26 EH/s of ASICs which was previously announced, and are installing them in our data centers upon delivery. We expect to provide updates on our growing hashrate capacity as we work towards our interim goal of 4 EH/s, and moreover, we are actively evaluating opportunities in the market for our year end goal of 6 EH/s.”
The Company’s total Bitcoin production in May 2023 was:
- 291.4 BTC produced from ASICs from an average hashrate of 3.15 EH/s from ASICs in May;
- 9.4 BTC produced per day on average from ASICs, and 92.5 BTC/EH from ASICs in May;
- 3.32 EH/s of BTC month end Hashrate as of May 31, comprised of 3.17 EH/s of ASIC BTC hashrate and 0.15 EH/s of GPU BTC Hashrate;
- Monthly average of 3.30 EH/s, comprised of an average of 3.15 EH/s of ASIC mining capacity and average of 145 PH/s of Bitcoin GPU mining capacity during the month of May;
- This represents a 1% month over month end increase in BTC ASIC hashrate (April 30 month end was 3.14 EH/s hashrate), and a 2% month over month average decrease in BTC hashrate from ASICs and GPUs combined (April average BTC hashrate was 3.38 EH/s), due to the GPUs mining algorithm having a higher profit per megawatt hour in April.
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 48.7 trillion (“T”) as at May 1, and increased to 51.0T as at May 31, reaching a new all-time high. Accordingly, Bitcoin mining difficulty ended the month about 4.7% 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, mining may be less profitable (or not profitable at all) for may miners, causing them to take their hashrate off the network, and consequently causing the Network Difficulty to decrease.
Miners with the lower costs of production, are generally able to continue their production during these volatile cycles. Not all miners will continuously mine during a given period, and 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.
We are happy that we have been able to upgrade our global fleet during this crypto market downturn.
Satoshis and Ordinal Technology
With the advent of Ordinal technology, a protocol that allows individual Satoshis on the Bitcoin blockchain to be assigned a unique identifier, now each Satoshi (the smallest denomination of a Bitcoin possible, being 1/100,000,000 of one Bitcoin) can be identified and tracked. HIVE has mined thousands of Bitcoin as a green energy focused issuer with Bitcoin mining operations.
Every Bitcoin has 100 million Satoshis which now means many new potential opportunities. Frank Holmes says, “I have always believed that green and clean Bitcoins would over time become more valuable as a digital asset because the supply is capped at 21 million Bitcoins. Like Andy Warhol art, when supply is capped, and adoption expands over time the value of his prints have gone up substantially. Now with the explosion in Ordinals we are experiencing new growth with special numbered Satoshis.”
Aydin Kilic, CEO and President of HIVE, commented, “As a technology company, and a pioneer in the Bitcoin mining space, HIVE is a company of firsts. We therefore ardently pursue innovation where we see advances in our sector. Luxor Technology Corporation (“Luxor”) has been a great contributor to the Bitcoin ecosystem, through software and firmware developments, and leading research insights, to name a few things. We were therefore extremely pleased to learn in collaboration with Luxor, that HIVE possesses 250 Uncommon Satoshis in our wallets. There will only ever be approximately 6.93 million Uncommon Satoshis in existence, out of the 2.1 quadrillion total possible Satoshis that will ever exist.”
Nick Hansen, CEO and Founder of Luxor, stated, “At Luxor, we’re excited about the proliferation of Ordinal theory on Bitcoin, which allows information to be inscribed and preserved forever in the Bitcoin blockchain. Working with a technology leader like HIVE to extract and sell their unique Satoshis for a substantial premium has been a pleasure.”
HIVE has not specified the price which it will be selling its Satoshis, however it will be at a premium.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/169391
Blockchain
Andrew Cardno to speak on the session titled “The Seven Forces Transforming Our Industry (Whether We Like It or Not)”
Quick Custom Intelligence (QCI) is pleased to announce a must-attend session at the upcoming January 28–30, 2025, Raving Next: Indian Gaming Strategic Operations and Leadership Conference at Pechanga Resort Casino in Temecula, CA. This event will feature Andrew Cardno, CTO of QCI, as he delivers an in-depth exploration of the rapid technological evolution reshaping tribal gaming, including the impact of Artificial Intelligence (AI) and robotics on gaming floors and team members.
The signature session, titled “The Seven Forces Transforming Our Industry (Whether We Like It or Not),” will take place on January 29, 2025, from 1:15 – 2:00 PM (Mainstage). Mr. Cardno’s presentation will discuss how casino operators can adopt these advanced tools while preserving core traditions and staying ahead of the competition.
“AI and robotics are no longer futuristic concepts in the tribal gaming space—they are here now,” said Andrew Cardno, CTO of QCI. “Our goal is to help operators confidently integrate these technologies and develop robust plans for sustainable success.”
The session will also feature insights from Deana Scott, CEO of Raving Consulting, who will offer guidance on seamlessly incorporating new technologies into tribal enterprise strategies, ensuring both guest experience and workforce well-being remain top priorities.
“This isn’t about technology for technology’s sake,” noted Deana Scott. “It’s about finding the best fit for each tribal enterprise, ensuring the heart of our industry—our people and culture—remains at the forefront of decision-making.”
Attendees can expect to leave with practical approaches to integrating and leveraging emerging technologies in ways that reinforce the unique strengths of tribal gaming, enhance operational efficiency, and empower team members.
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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.
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