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 NÃ¤t 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.