The bitcoin halving is coming and it’s anybody guess as to what companies are going to survive. The game is going to get a lot tighter next month when the risk-to-reward ratio involved in mining Bitcoin greatly favours risk.
The advent of the COVID-19 pandemic brought on and continues to bring on some serious questions for every segment of the market, and that includes cryptocurrency. Within two days, Bitcoin was slashed in half as investors pulled their money out in droves and it seemed that almost overnight the question of whether or not Bitcoin was a safe-haven currency had been resolved. But neither was gold. The sharp truth was that panic had set in and nothing and no one was safe from this new economic reality.
Hive Blockchain Technologies’ (HIVE.V) prospects are looking up and now they anticipate a 40% reduction in the company’s operating and maintenance costs for its GPU (graphics processing unit) ethereum mining facility in Sweden.
In hockey, when your team’s down and your favourite pita-slinger’s getting on your case at your local shawarma shack, you can pull out the faithful excuse that it’s a rebuilding year. Yeah. A rebuilding year. They’re making trades and figuring out how to skate together and once they iron out some of the kinks and find out what combinations work best for line chemistry, then you’d better watch out in June.
Bitcoin had already begun its ascendancy in September 2017, pushing well over USD$5,000, so it was big news when Frank Giustra-backed HIVE Blockchain Technologies (HIVE.V) inked a strategic partnership with Genesis Mining to operate up to five blockchain data centres for the mining of digital currency.