Mining company HIVE Blockchain plans to raise $100 million in equity financing to double its hash rate to 6 EH/s

ChainCatcher news, Bitcoin mining company HIVE Blockchain announced plans to double its hash rate to 6 EH/s. Hive stated that by the end of the second quarter, it will increase its hash rate from approximately 3 EH/s to 4 EH/s using the machines it has purchased.

In addition, HIVE Blockchain will also conduct ATM (At-the-market) financing in collaboration with two large independent brokers in Canada. According to the equity distribution agreement, the company may sell up to $100 million of common stock from time to time (ATM equity program). The company intends to use the net proceeds from the ATM equity program (if any) primarily for general corporate and working capital needs, funding ongoing operations, repaying outstanding debt from time to time, completing future acquisitions, or other corporate purposes. (Source link)