HIVE Blockchain (HVBTF) Stock Moves in a Range After The Recent Move

The HIVE Blockchain Technologies Ltd (OTCMKTS:HVBTF) stock was in the middle of a bit of a downward spiral last week and recorded a drop of 8%. While there was no specific news about the company in the earlier part of the week, the company did make an announcement on Friday.

HIVE announced that Bodens Energi Nät AB has confirmed it is going to supply a guaranteed 10 MW of green energy to its GPU date center located in Sweden.

It is a major development for the company since it was only in January that HIVE Blockchain had managed to get the expansion of as much as 2 MW. The two expansions have now resulted in raising the capacity at the facility in Sweden by more than half. Earlier it had a capacity of 21 MW but not it stands at 33 MW. It could well be a good move for investors to keep an eye on the HIVE stock.