Stock Track | Hive Blockchain Soars 6.18% as Canaan Mining Deal Fuels Expansion Plans

Stock Track11-20 22:33

Hive Blockchain Technologies Ltd. (HIVE) witnessed a significant surge of 6.18% in its stock price during the intraday trading session on Wednesday, driven by positive news surrounding its expansion in cryptocurrency mining operations.

The rally was fueled by Canaan Inc. (CAN), a leading provider of high-performance computing solutions, securing a follow-on order from HIVE Digital. This deal reinforces the strategic partnership between the two companies and signals HIVE's commitment to bolstering its mining capabilities.

With the acquisition of additional mining equipment from Canaan, HIVE Blockchain is poised to enhance its hashrate and increase its operational scale, positioning itself for potential growth in the rapidly evolving cryptocurrency mining landscape.

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