Brief: Hive Blockchain Announces Expansion In Sweden, Up To $100 Mln Financing

HIVE Digital Technologies

13/12/2017 14:38

Dec 13 (Reuters) - Hive Blockchain Technologies Ltd 
 HIVE.V : 
    * HIVE BLOCKCHAIN ANNOUNCES MAJOR EXPANSION IN SWEDEN, 
INCLUDING 
NEW BITCOIN MINING FACILITY, AND UP TO $100 MILLION FINANCING 
    * SAYS EXPANSION WILL INCREASE HIVE'S ENERGY CONSUMPTION 
DEDICATED TO DIGITAL CURRENCY MINING TO 24.2 MW IN APRIL 2018 
    * SAYS ENTERED INTO BINDING LETTER AGREEMENTS DATED DEC. 13 
WITH 
GENESIS MINING LTD. 
    * SAYS EXPANSION WILL INCLUDE DATA CENTRE IN SWEDEN WITH 
HARDWARE 
PROCURED, ASSEMBLED BY GENESIS FOR HIVE FOR CONSIDERATION OF 
ESTIMATED $34 MILLION 
    * SAYS EXPANSION TO INCLUDE THIRD PHASE OF CO'S GPU-BASED 
DATA 
CENTRE IN SWEDEN FOR CONSIDERATION OF AN ESTIMATED $22 MILLION 
    * SAYS PRIVATE PLACEMENT FINANCING OF UP TO C$100 MILLION, 
LED BY 
GMP SECURITIES, EVENTUS CAPITAL, WITH LEAD INDICATION OF C$50 
MILLION RECEIVED 
 
Source text for Eikon:  ID:nCCNz7vdHa  
Further company coverage:  HIVE.V  
 
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