HIVE Enters into Strategic Alliance with Blockbase to Optimize its GPU Mining

HIVE Blockchain recently announced that it has entered into a strategic alliance with Blockbase Group DWC-LLC. As per the press release issued on the development, Blockbase would be the service provider for software and maintenance of HIVE’s mining projects in Sweden. Blockbase’s expertise in the domain of operational software programming will help HIVE streamline their GPU (Graphics Processing Unit) mining in a big way.

Moreover, the new strategic alliance will improve technology usage at HIVE’s mining offices. The company’s board is very much interested in the association and estimates that this will lift net revenues by diminishing the overall cost of cryptocurrency mining. Blockbase has demonstrated excellent development as a new organization in Sweden, and this was what prompted HIVE to consider them as the technology partner for their mining segment.

Furthermore, the organization has signed agreements with Swedish providers to improve transparency with regards to the per-unit cost of mining. This was a significant worry for HIVE; however, the organization’s management asserts these issues have been tackled. Following the 2017 Bull Run and ensuing correction, open stocks that deal with crypto and blockchain have been clipped down by negative institutional recognition.

Particularly, mining stocks have been very poor, losing nearly 90 percent of significant value at the extent of crypto winter. Moreover, one of only a handful of organizations that figured out how to emerge secure in the more extensive crypto market during the minor Bull Run started in May 2019 is Overstock.

HIVE Blockchain Technologies Ltd. is a development-focused, TSX.V listed organization constructing a bridge from the blockchain segment to traditional capital markets. HIVE has possession of latest GPU (Graphics Processing Unit) based digital money mining assets in Iceland and Sweden, which produce recently mined digital currencies like Ethereum persistently, also a cloud-based ASIC-based capacity which delivers newly mined digital currencies like BTC (Bitcoin). Moreover, its implementation furnishes investors with an introduction to the operating margins of mining and also the crypto-coins growth.

On the development, Frank Holmes, Hive’s Interim Executive Chairman, and Interim CEO stated,

Our new strategic partnership with Blockbase is exciting as it is expected to improve profitability and enhance our mining operations in Sweden.

Blockbase Group DWC-LLC is headquartered in the United Arab Emirates, with mining offices situated in Sweden. BlockBase Mining gives hardware sourcing, and it provides hosted mining services for Bitcoin, Litecoin, Ethereum, Monero, and different cryptocurrencies. Blockbase is a cryptocurrency mining specialist that sources the newest cryptocurrency mining equipment and gives problem-free solutions for cryptocurrency mining at reasonable costs.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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