HIVE Blockchain raises $7 mln in funding, buys second data centre

HIVE Blockchain Technologies Ltd (TSX-V: HIVE) has secured $7 million in a private placement deal with Genesis Mining Ltd, an existing strategic investor. The round was closed concurrently with a $30 million bought deal financing. HIVE, a Vancouver-based developer of blockchain infrastructure, said it used some of the funds raised to acquire a second data centre in Reykjanes, Iceland. The company acquired the asset from Genesis, a cryptocurrency mining business, for $5 million, the issuance of 2 million common shares, and fees. Founded in 2012, HIVE describes its goal as "building a bridge from the blockchain sector to traditional capital markets."

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