Ballangen, Norway and Vancouver, Canada – HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (OTC:HVBTF) (the “Company” or “HIVE”) and Kolos Norway AS (“Kolos”) are pleased to announce that they have entered into a series of agreements (the “Agreements”) pursuant to which HIVE has agreed to acquire all of the issued and outstanding shares of Kolos through the acquisition of another Norwegian entity for total consideration of approximately US$9.9 million, 4,750,000 common shares and 1,250,000 warrants (the “Norway Acquisition”).
“This is another major milestone in our continuing global expansion as a leading blockchain and cryptocurrency infrastructure company,” said Harry Pokrandt, CEO and Director of HIVE. “Kolos will be a flagship data centre project for HIVE for years to come and has the potential to expand to more than 1.0 GW, or 1,000 MW, of green hydroelectricity consumption dedicated to blockchain infrastructure. For context, our advanced mining operations in Iceland and Sweden will collectively represent 44.2 MW of consumption – also from green sources. This acquisition provides HIVE with significant flexibility for long-term growth. Our vision is to scale the project in phases to be among the largest and most energy-efficient data centres in the world. We continue to explore non-dilutive financing alternatives to commence the build-out as soon as possible.”
www.hiveblockchain.com/news/...ay-as-build-major-data-centre/