HIVE Blockchain Technologies Ltd (HIVE)

[Nelson2]

The man is absolutely BRILLIANT! Go Frankie Go!

“Possibly due to the uncertainty surrounding the ETH PoS merge, many of our competitors have decided not to mine ETH.

HIVE smartly decided to take a different approach. It’s funny because I remember talking to HIVE Chairman Frank Holmes about this issue in 2019. I asked how worried he was about PoS (which I heard was right around the corner). Frank said something to the effect of “they keep putting it off, and we think that’ll continue”.

Frank was onto something back then, so I asked him for a comment on this newsletter, and here’s what he had to say about the state of the ETH PoS merge today.

“We think there’s still a lot of time left to profitably mine ETH. Ethereum moving to PoS is taking longer than expected, and we have positioned HIVE to be a leading miner since 2017.

Mining ETH is highly profitable, and there’s a lot less competition than with BTC. The margins are significant, with a rapid hardware payback period.

Ethereum scaling solutions are maturing, ramping up network throughput, which is critical for further adoption. We believe scaling ETH should be the top priority. That’s what’s going to drive real adoption.”

-Frank Holmes, Chairman of HIVE Blockchain Technologies Ltd