As of yesterday’s close, HIVE Blockchain Technologies Ltd (OTCQX: HVBTF)’s market cap was $906.01 after falling -1.45%, which took its share price to $2.3900. Further, HIVE stock traded 1.46M shares below its daily average volume of 4.03M.
Aside from that, HVBTF stock has traded in a range of $2.3100 to $2.4000 over the past year. According to the pink sheets, HVBTF has 379.12 million outstanding shares vs. 257.33 million float. A growth strategy expansion in Sweden boosted HVBTF stock.
What is HVBTF doing to expand?
Since going public in 2017, HIVE Blockchain has been mining cryptocurrency using green energy and implementing ESG strategies. The HVBTF is a fast-growing company in an emerging industry that is bridging traditional capital markets with blockchain technology. In addition to its state-of-the-art green energy-powered data centres in Canada, Sweden, and Iceland, HVBTF continuously produces new digital currencies like Bitcoin and Ethereum. HVBTF has accumulated most of its ETH and BTC coin production since the beginning of 2021, which the company holds in secure storage.
HIVE last week said it had expanded its Swedish operations with a 4.6 megawatt (“MW”) unit in Robertsfors, Sweden.
- Thus, the total capacity of HVBTF in Sweden now exceeds 33 MW and its global capacity is now 133 MW.
- Robertsfors, located in the northern part of the country, houses the HVBTF’s historic ‘Diamond Factory’.
- The HVBTF continued to invest in cold climate locations that have access to low-cost, green, and renewable energy sources as part of its ESG strategy.
- While HVBTF has already occupied the first hall of the facility and is preparing for expansion of its data centers with the option of adding more space as it becomes necessary to expand capacity.
- HVBTF was happy to make a long-term and serious customer a part of the factory.
- In the blockchain sector, HVBTF has built a solid ESG strategy that has led the way for the industry.
- HVBTF has been investing in renewable energies only, which is exactly what Robertsfors offers as well.
- According to HVBTF, several local electric and construction companies have already begun working on the facility.
How has HVBTF been doing in Sweden?
In 2018, HIVE (HVBTF) began operating in Sweden, and Executive Chairman Frank Holmes believes that it has been worth the time and dedication to the country. Unlike other companies, which are struggling to find suitable locations for their entry or expansion into Sweden, HVBTF has the option of choosing from several new opportunities that have been presented to it. HVBTF’s reputation for being a reliable operator is strengthened by this achievement.
