The mining of Ethereum of HIVE Blockchain increases by 179%


In his results for Q1 2019, published yesterday, HIVE Blockchain said that the extraction of ethereum increased by 179% compared to the previous quarter.

The giant of the crypto-extraction HIVE Blockchain (TSXV: HIVE) published the results of the first quarter of 2019 on Wednesday (29 August), highlighting its extraction of ethereum increased significantly during the quarter.

According to the company's press release, 17,555 ethereum were drawn in the first quarter, which is a 179% increase over the 9,800 minherum extracts from the previous quarter.

In a conference call with investors on Thursday, August 30, Harry Pokrandt, CEO of HIVE, said the company was able to continue adding mining capacity to its network, which led to an increase in mines .

Since its operations were launched in September 2017, the company has generated $ 23.74 million earned revenues from digital extraction in the wake of $ 82.2 million US capital.

The company also noted a change in its management in its financial results. Starting Friday (August 31), Pokrandt will retire from his role as president and CEO of HIVE. Frank Holmes, who serves as president of the company, will enter as interim executive president and Olivier Roussy Netwon will take on the role of interim president.

The board of directors of HIVE is currently looking for a new CEO to take a look at the next phase of its development.

Pokrandt has been the company's leader since June 2017, ignoring the $ 200 million in funding raised and securing its 44.2 MW of precision digital mining capability.

Holmes said in the teleconference on Thursday that, looking ahead, the company has ongoing a number of pipeline projects.

"We believe we are well positioned as the first pioneers of the blockchain and the management is well aligned with the shareholders," he said. "We continue to progress in our strategic plan to remain at the forefront of the blockchain industry."

Following the company's financial results and teleconference, HIVE's shares fell 10.47% to close the trading session at 0.77 C $ [19659004] The company currently has a "Moderate Buy" ranking with a price tag of C $ 3.9 on TipRanks based on an evaluation by an analyst. On TradingView, HIVE's shares are currently classified as "Sell" with 13 against, nine "Neutral" and four in favor.

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Disclosure on securities: I, Jocelyn Aspa, does not hold any direct investment interest in any company mentioned in this article.

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