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Seeking Alpha 2022-08-26 20:00:15

HIVE Blockchain's Pivot Away From PoS Ethereum

SummaryThe Merge is already 96% complete and is on track to complete the full transition to PoS by September, signaling an end to ETH's PoW era.HIVE guided investors that it is looking to diversify its GPU utility by mining ETC and offering HPC services like HUT and SLNH.ETC mining is 31% less profitable than ETH and is expected to decrease HIVE's total revenue by at least 13% assuming no downtime and an increase in mining difficulty.As a result, Bitcoin needs to be at least $54,280 to justify HIVE's current valuation.IntroductionMany readers were enthusiastic about HIVE Blockchain Technologies (HIVE) after our coverage about a month ago. The only gripe against HIVE was that about half of HIVE's earnings are derived from Ethereum (ETH-USD) and that Ethereum is expected to switch from PoW (Proof-of-Work) to PoS (Proof-of-Stake).We explained that we could not include such a discussion in the previous coverage due to the depth of the problem. Therefore, this article is our long-awaited thesis on HIVE's pivot away from PoS Ethereum.HIVE's Pivot Away From EthereumHIVE's 2022Q1 report released in Q3 (Noted previously as "The Catch") contains management insights up to and including July 19, 2022.This Management's Discussion & Analysis contains information up to and including July 19, 2022.On 15th July 2022, Ethereum developers have already penciled in September as the merge date. On the contrary, HIVE stated that it believes that...

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