[2017-10-17] Gold Miner Pivots: Backs Blockchain Company and Starts Mining

[deadsilent]

Gold Miner Pivots: Backs Blockchain Company and Starts Mining Bitcoin

A Canadian mining guru, Frank Giustra, has begun mining bitcoin and other cryptocurrencies instead of just gold. He has recently backed a Vancouver Blockchain company, called Hive Technologies Inc., to oversee these mining operations and offer first-ever mining stock options.

A Bloomberg article said, “The company he’s backed, Vancouver-based Hive Blockchain Technologies Inc., is among the first publicly traded stocks to provide exposure to crypto mining.”

Hive Shares Soar after Giustra Backs Them

Gold Miner Pivots: Backs Blockchain Company and Starts Mining Bitcoin
Frank Giustra
After Giustra’s backing of the company and its foray into mining, the company’s shares have skyrocketed. They have moved upwards of around 633%, according to Bloomberg. The company now has a market value of $443 million. Hive’s CEO, Harry Pokrandt, mentioned how unique his company is in the space.

“We’re quite lucky to be first out of the gate. We’re a unique way to get into the space.”

Giustra helped get Hive into the spotlight via his previous businesses. He was the founder of Goldcorp Inc. and Lions Gate Entertainment Corp. The Bloomberg article went into further detail about Giustra:

Continue reading... https://news.bitcoin.com/hive-technologies-pivots-starts-mining-bitcoin-instead-of-gold/

[yugyug]

As an investor then if you have huge amount of money to invest between the two - gold mine and bitcoin mining considering putting the same amount of investment, i prefer to invest in bitcoin . The reduced overhead cost like human resources is the winning key to a large margin of profit, electricity cost and mining rigs are the vital expenses to monitor aside from that labor cost is minimal. Conservatively a group of 10 people is the maximum human resources in every mining farm, this is what i saw the recent article about the bitmain mining in china where are only few people manning the farm, compared to gold mine.