Crypto Miner HIVE Blockchain Rebrands to Drive AI Expansion

HIVE Blockchain Applied sciences Ltd. has declared its plan to strategically rebrand, together with a transition to the brand new identify “HIVE Digital Applied sciences Ltd.” This rebranding initiative is designed to reflect the corporate’s development into the realm of high-performance computing (HPC) information centres, using Nvidia’s superior Graphics Processing Unit (GPU) chips to faucet into the burgeoning pattern of widespread adoption within the subject of Synthetic Intelligence (AI).

Established in 2017, HIVE has been an modern chief within the area of cryptocurrency mining. The upcoming identify change signifies a serious strategic shift to use the capabilities of inexperienced vitality information centres and GPU Cloud computing expertise, an indispensable useful resource within the sphere of AI, machine studying, and complex information evaluation.

At current, the corporate’s frequent shares are traded on the TSX Enterprise Alternate (TSXV) and the Nasdaq Capital Market beneath the ticker “HIVE”. The corporate has confirmed that there can be no adjustments to its buying and selling symbols nor will there be any consolidation of share capital related to the identify change. The implementation of the identify change is anticipated round July 12, 2023, pending receipt of all mandatory regulatory approvals.

The rebranding is not going to affect the corporate’s share or warrant construction or the rights of its safety holders. Present safety holders should not required to take any additional motion. All present share certificates or warrant certificates will proceed to signify the shares or warrants of HIVE Digital Applied sciences Ltd. with out the necessity for any further motion by holders submit the identify change.

In a separate announcement, the corporate has rectified an earlier understatement of the variety of Bitcoin equal mined in the course of the 12 months by 792. The correct figures for Bitcoin equal ought to have been 4,295, not the beforehand reported 3,503.

Moreover, the corporate disclosed that its Board of Administrators has sanctioned the grant of 620,000 incentive inventory choices, which may be exercised into an equal variety of the corporate’s frequent shares at a worth of C$6.86 per share for a length of 5 years. These grants, made to the corporate’s staff, officers, and consultants, are topic to particular vesting necessities.

HIVE Blockchain Applied sciences Ltd. made its public debut in 2017 because the inaugural cryptocurrency mining firm to be listed for buying and selling on the TSX Enterprise Alternate, with a powerful emphasis on sustainable inexperienced vitality. The corporate operates superior, inexperienced energy-powered information centre services in Canada, Sweden, and Iceland, the place it harnesses inexperienced vitality to mine digital property like Bitcoin on the cloud.

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