HIVE Blockchain Rebrands, Leveraging The Breakthrough Of AI

Key Points:

• HIVE Blockchain Technologies announces a strategic rebranding and name change to HIVE Digital Technologies to reflect its expansion into AI-focused HPC data centers.
• The company aims to leverage its green energy data centers and GPU Cloud computing technology for AI, machine learning, and advanced data analysis.
• The name change will not affect trading symbols or share structure, and the company’s shares will continue to trade on the TSX Venture Exchange and Nasdaq.

HIVE Blockchain Technologies, a global leader in blockchain technology, has announced its plans for a strategic rebranding and name change to HIVE Digital Technologies Ltd.

This move comes as the company aims to expand its operations in HPC data centers and utilize Nvidia’s high-performance GPU chips for artificial intelligence (AI) applications.

The rebranding reflects HIVE’s commitment to harnessing the potential of its green energy data centers and GPU Cloud computing technology in the growing AI, machine learning, and advanced data analysis sectors. HIVE has been a prominent player in the cryptocurrency mining industry since 2017.

The name change, which is set to take effect on or around July 12, 2023, will not impact the company’s trading symbols or share structure. HIVE’s shares will continue to trade on the TSX Venture Exchange (TSXV) and Nasdaq under the existing symbols.

In addition to the rebranding announcement, the company made a correction to its previous news release, stating that the number of Bitcoin equivalents mined during the year was understated by 792. The corrected figure stands at 4,295 Bitcoin equivalent, including digital assets mined from GPUs.

Furthermore, the company granted 620,000 incentive stock options to employees, officers, and consultants. These stock options, exercisable at C$6.86 per share, are subject to certain vesting requirements.

HIVE Blockchain Technologies, known for its sustainable green energy focus, operates state-of-the-art data centers in Canada, Sweden, and Iceland. The company’s shares provide investors with exposure to digital currency mining operating margins and a portfolio of Bitcoin assets. With its rebranding and continued focus on innovation, HIVE aims to bridge the gap between the blockchain industry and traditional capital markets.

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