In a news release dated April 7, 2021, cryptocurrency miner Hive Blockchain Technologies revealed that its coin inventory value increase by 300% in just three short months.
I believe the company could have reported much more in coin inventory if it was holding onto much of its prior production.
The dollar value of our crypto assets at fiscal year end was approximately US $60 million and cash was US $36 million.” Management stated in Wednesday’s update.
If the company produced anywhere near the 21,500 Ether and 165 Bitcoin coins produced during a previous quarter, then the total coin portfolio should have grown to something between 33,200 and 34,700 Ethereum coins, and nearly 347 Bitcoins.
Now that this source of liquidity is segregated, the company could be compelled to raise new equity from time to time to finance new equipment purchases for datacenters.
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