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Blockchain

HIVE Blockchain Provides May 2023 Production Update and the Growth Opportunities of Ordinals and Unique Satoshis

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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:

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  • 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.

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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.”

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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

Newsfile is a customer-focused newswire team that delivers press releases and corporate announcements to the global financial community. Approved by all stock exchanges, Newsfile offers broad access to media, analysts, investors and market participants. With agile services, proactive customer care and affordable pricing; Newsfile makes it easy for companies to tell their story to the audiences they need to reach.

Blockchain

FreeBnk debuts the ‘Zillow’ of tokenized Real-World Assets

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FreeBnk, the fintech platform offering affordable financial services for crypto investors, launches its tokenized RWA (real-world asset) platform to enable its clients to invest in real estate through fractionalized ownership. Through FreeBnk’s app, clients can effortlessly purchase shares of the first property located in Dubai, democratizing real estate investing by eliminating traditional barriers such as complex paperwork, similar to the seamless experience of browsing and investing on Zillow. Investors of FreeBnk’s tokenized RWAs will receive a 15 percent annual return and a 9 percent rental return from their investment.

Tokenized RWAs have exploded in demand within the digital asset ecosystem, drawing interest from both crypto investors and traditional financial institutions. This sector has become one of the largest in DeFi, with DEX volume experiencing substantial growth from $2.3 billion in December 2024 to $3.6 billion by April 2024. Amidst the escalating global cost of living, tokenized RWAs emerge as an alternative and more accessible investment option offering potentially higher returns, democratizing access to market-proof assets. However, the UI and UX continue to be complex and unfriendly for users unfamiliar with these platforms.

With the launch of its new platform, FreeBnk simplifies wealth-building opportunities by offering ownership shares in properties for potentially generating passive income. Now live within its native mobile app, the decentralized application (dApp) removes the complexities of property ownership, enabling investors to readily enter the tokenized RWA sector. The process involves three straightforward steps:

Search properties: Through the FreeBnk app, users will be able to explore properties, filtering by type, ROI, and yield—allowing investors to align their property investments precisely with their financial objectives.
Buy shares: Users will be able to select their desired property and invest any amount in a few, simple steps. FreeBnk helps to bypass traditional real estate processes and manages all aspects of property ownership using smart contracts.
Earn rental income: FreeBnk automatically assigns a property portfolio to its customers, taking care of all real estate management responsibilities. This service includes collecting and depositing rental income directly into the client’s accounts.
Clients ready to capitalize on property appreciation can conveniently sell their shares at any time through FreeBnk’s secondary market. FreeBnk is committed to offering top-quality real estate, already investing over 250,000 AED into its first property. As a hub for innovation and growth, Dubai sets the stage for global expansion with its growing real estate market and investor-friendly environment.

“As we look ahead, we see the potential of tokenized RWAs and the positive ways in which they can revolutionize the real estate market through fractional ownership,” says Yunus Emre Ozkaya, CEO of FreeBnk. “By tokenizing properties, our goal is to empower investors across the globe, showcasing the unique benefits of tokenized RWAs and offering new avenues for investment. Real estate, known for its relative stability, provides a passive income opportunity amidst global economic fluctuations. We aim to cater not only to crypto enthusiasts but also to newcomers seeking alternative investment options.”

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The post FreeBnk debuts the ‘Zillow’ of tokenized Real-World Assets appeared first on HIPTHER Alerts.

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Blockchain

DeFi Technologies Expands BTC Treasury Holdings and Diversifies into Solana, CORE and CORE DAO Staking

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DeFi Technologies Inc. (the “Company” or “DeFi Technologies“) (CBOE CA: DEFI) (GR: R9B) (OTC: DEFTF), a financial technology company that pioneers the convergence of traditional capital markets with the world of decentralised finance (“DeFi“), is pleased to announce the expansion of its digital asset treasury strategy. The Company has purchased an additional 94.34 BTC, bringing its total BTC holdings to 204.34 BTC. Additionally, the Company  has acquired 12,775 SOL tokens and 1,484,148 CORE tokens, with plans to actively participate in CORE DAO’s staking facility.

Expanded Bitcoin Holdings

Following the Company’s initial acquisition of 110 BTC in June 2024, the Company has continued to bolster its confidence in BTC as a primary treasury reserve asset. The additional purchase of 94.34 BTC, for a total of 204.34 BTC reaffirms the Company’s commitment to this leading digital asset, recognizing its unique characteristics as a scarce and finite asset, and its potential as a hedge against inflation and a safeguard against monetary debasement.

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Addition of Solana (SOL) to Treasury

In a strategic move to diversify the Company’s treasury, the Company has acquired 12,775 SOL tokens. SOL stands out with its high-performance, permissionless blockchain, capable of processing up to 65,000 transactions per second, thanks to its unique Proof of History and Proof of Stake combination. This scalability and efficiency surpass many of its peers.

SOL’s low transaction fees and rapid processing times lower barriers for developers, fostering a strong user base and impressive fee generation. The platform’s trading volume has reached US$393.71 billion, indicating robust market activity and user engagement. The liquidity Total Value Locked (“TVL“) stands at US$865.97 million, reflecting substantial assets held in liquidity pools, which support trading activities. Since its inception, SOL’s decentralized finance landscape has attracted 24,591,311 traders and executed 1,847,335,349 swaps, highlighting its high transactional activity and efficiency.

Overall, SOL’s technical strengths, significant market activity, and ongoing enhancements position it as a promising investment, offering a scalable and efficient platform for a wide range of decentralized applications.

Addition of CORE To Treasury and Participation in CORE DAO’s Staking

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The Company is also pleased to announce that it has purchased 1,484,148 CORE tokens and intends to participate in CORE’s staking facility. CORE’s innovative staking solution enables holders to stake BTC non-custodially enhancing yield opportunities and contributing to network security and stability. The Company’s participation in this staking facility not only diversifies its income streams but also strengthens its collaborative relationship with CORE Foundation and involvement in the broader DeFi ecosystem. CORE is proving to be a leading BTC scaling chain with over 55% of BTC hash rate participation,US$138.5M in TVL, and 5,000+ BTC staked (~US$320M).

“We are thrilled to announce these significant advancements in our digital asset treasury strategy,” said Olivier Roussy Newton, CEO of DeFi Technologies. “Our increased BTC holdings, strategic investment in SOL, CORE and participation in CORE’s staking facility reflect our commitment to leveraging the most promising opportunities in the decentralized finance landscape. These actions not only diversify our balance sheet but also align with our mission to bridge traditional capital markets with the innovative world of DeFi.”

The post DeFi Technologies Expands BTC Treasury Holdings and Diversifies into Solana, CORE and CORE DAO Staking appeared first on HIPTHER Alerts.

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Blockchain

Crypto Price Predictions: Comprehensive BlockchainReporter Platform Helps Cryptocurrency Investors Stay Ahead Of Market Volatility

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