Why Bitcoin- And Ethereum-Related Stock HIVE Blockchain Is Seeing Blue Skies Friday

HIVE Blockchain Technologies Ltd HIVE shares are trading higher Friday morning after the company announced the commercial deployment of its HIVE BuzzMiner.

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Frank Holmes, Executive Chairman, stated: "HIVE has always sought to innovate as a technology company. Being the first public crypto miner, the first to be green energy focused, the first to mine both Bitcoin & Ethereum, and the first to own and build data centers, we are now very pleased to be the first public crypto miner to deploy its own ASIC mining rig. I am very proud of the hard work of our team."

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HIVE Blockchain says over 1,500 machines have been deployed globally in our data centers in Canada and Sweden, and expected performance targets have been met. The company notes that earlier projections of over 1 Exahash were based on total ASIC allocation of Blockscale chips with Intel to produce 13,000 HIVE BuzzMiners.

HIVE Blockchain says to methodically scale the business during the crypto bear market, HIVE's initial production run for 2022 was set to 5,800 units but retains the option to produce more HIVE BuzzMiners.

According to data from Benzinga Pro, HIVE has a 52-week high of $12.85 and a 52-week low of $1.36.