Hive BlockChain Stock Frustrating News Released Today. Some Good News From Hive Too. $hive $hvbt

Hive BlockChain Stock Frustrating News Released Today. Some Good News From Hive Too. $hive $hvbt

ladies and gentlemen it’s ali i hope you guys are having a great day today i’ll be the first person to tell you that i am incredibly disappointed with this statement that we got from hive blockchain today a lot of us have been anticipating some financial earnings or statements to come out we were anticipating that so to see that they are going to delay it once again until the next week or two is incredibly annoying and frustrating so i empathize with you guys completely in today’s video we’re going to take a look at the cryptocurrency market we’ll also take a look at some of our favorite crypto miners and of course we’re gonna go through the details that the company released regarding delaying earnings once again let’s get right into the video the overall market today was kind of meh not a lot of excitement to be honest the dow jones is up around four basis points the smp is up 16 basis points and the nasdaq is only up four basis points so nothing crazy in the broader market when it comes to cryptocurrencies they’ve done exceptionally well today bitcoin at the time of me filming this is forty seven thousand six hundred and twenty six dollars that’s up close to seven percent and ethereum is up also seven point six seven percent it’s currently at three thousand two hundred and eighty eight dollars the cryptocurrency market is doing incredibly well it’s showing a ton of strength in a previous video we mentioned that bitcoin had bottomed out around july the 20th and since then we are up close to close to 61 which is absolutely amazing but most importantly in a previous video we had mentioned that there was an area of resistance between these two red lines as you guys see today at day end we broke that line and now we are up significantly above those lines that is a very bullish sign for bitcoin most interestingly that big jump that we saw actually came in at the final hours of the trading day if you guys see right here we basically traded sideways for most of the day and then finally right here at the day end we saw a huge jump upwards basically breaking that resistance level that we had set previously so things are looking incredibly well for bitcoin i’m going to be surprised to see how cryptocurrencies are doing on monday i think this weekend is going to be very interesting so keep an eye open and of course when it comes to ethereum we’re also seeing tremendous strength the same thing on july the 28th we saw a bottom and since then we are up close to 90 percent hallelujah of course you would expect that since cryptocurrencies have done so exceptionally well today you would think that a lot of crypto miners would have also done exceptionally well but the situation is slightly different today micro strategy is up around 97 basis points but riot is actually down 2.7 percent hive blockchain is also down around two percent marathon is also down close to three percent and hut eight is only down around 15 basis points so generally speaking a lot of the crypto miners have not shown the same strength that cryptocurrencies had a lot of that could be because the broader market when it comes to stocks and equities just didn’t have a lot of volume and there wasn’t a lot of strength on that side of the market but cryptocurrencies are doing exceptionally well for a lot of you that follow hive blockchain stock and that follow my channel as well we’ve been monitoring high blockchain for a pretty significant amount of time and we’ve been anticipating earnings or financials to come out weeks ago and they were delayed until supposedly today now the problem is today has come around and we still don’t have earnings released the company did release a statement and this is directly from their website on august 13th of 2021 high blockchain orders 1800 high performance miners from bitmain and provides bi-weekly status update but let me give you some context so you have an understanding as to where this statement lies historically a couple of weeks back hive blockchain announces late filing of annual financial statements the company said specifically the late filing is the result of operational and reporting challenges associated with the consolidation of the five countries that the company operates in sweden canada switzerland bermuda and iceland and they also added to that statement other factors contributing to the reporting delay include unexpected accounting and logistical delays associated with the previously announced sweden gpu facility upgrade process now there are a lot of details here i’ll post this link below so you can have a better look at it but overall that was incredibly disappointing to a lot of investors and was very disappointing for me too we’ve been excited for earnings and some type of a financial release for weeks now so to see them back on july the 29th really give us this statement it really disheartened a lot of investors and also really crushed a lot of our trust in the company when you see late filings like this it’s typically not a good sign a lot of times there are some issues with accounting it basically just flashes red lights to a lot of investors and management did acknowledge this a couple of weeks back so they filed an mcto an mcto for a lot of you that are not familiar is a management cease trade order the reason that this was so significant to be released on july the 29th when the statements were delayed was because it restricts the company’s chief executive officer the ceo and the cfo from trading the company’s shares until the annual filings are filed aka this means that if there are some issues with the companies they would be the first people to know it and a lot of times insiders or the ceos or the cfo of companies once they do get bad news they would typically sell their shares the mcto the management trade cease order it basically prevents them from doing so the reason that this was so important for us at that time was it gave us the confidence to know that there was nothing wrong with the company it was literally just a matter of them being delayed when it came to actually releasing the statements so we needed to see that it did reassure me that there were no issues with accounting and they had also mentioned in this same statement that the company expects to file the annual filings on or before august the 12th of 2021 and will issue a press release announcing completion of these filing at such time now in all honesty i should have probably read the wording of that a bit more more delicately let’s go through that very quickly the company currently expects to file the annual filings on or before august the 12th so it doesn’t say anything about actually releasing the statements it just says that they will file the statements on the 12th of august so i’m hoping that they did actually file it today now here’s the problem today is august 13th and even though the expectation where that high blockchain were to submit their filings today they’ve also delayed it once again in their status update they say hive is also announcing that it expects to file its annual financial statements and accompany management’s discussion and analysis for the financial year ended march 31st 2021 on or before august the 26th so things are getting delayed once again the reason that this is so frustrating to me is because i’m reading between the lines once again and i’m being very peculiar about how they’re wording this they are announcing that it expects to file its annual financial statements expects to file so it doesn’t mean that they’ll necessarily release it on august 26 but they expect to file it so unfortunately it does look like we are going to see some significant delays with this financial statement as a shareholder this is really really annoying so i understand if you guys are frustrated with this i’m just as frustrated going forward i really hope that management does take notice to this because ultimately this is going to hurt a lot of investors trust in the company i’m just curious guys a lot of you do actually hold this company are you bugged by this i’m sure that you are and what specifically about this annoys you guys the most i’d be interested to hear the silver lining that was posted in this update actually has to do with the fact that a lot of folks have been concerned about ethereum going from proof of work to proof of stake which in simple terms means that revenues from ethereum mining is going to be decreased the reason that this is so important for us as high blockchain investors is hive blockchain is primarily focused on the mining of ethereum these changes to the ethereum network ultimately are going to cause some decreases to ethereum’s profitability as a miner what we see here in the statement is really reassuring as you guys know of course i mentioned this in previous videos hive blockchain is doing a lot of work and is being proactive by taking a lot of their cash flows and really putting it towards bitcoin mining they understand that there is going to be a shift in the ethereum network so for them it’s important to make sure that they make that allocation and push things towards the mining of bitcoin and this is specifically what this update has given us they say hybe is proud to reconnect with bitmain one of the leading manufacturers in our industry and is excited to make this initial order of miners from bitbane basically it’s 1800 miners these are going to be delivered starting january of 2022 up until june of 2022 it’ll be done in basically in six patches of 300 so it starts january 2022 until june of 2022 and it’s gonna be 300 miners every month for six months for a total of 1800 miners and this is really really important for us because we do need to see this transition happen eventually it’s awesome to see that management and the ceo frank holmes is actually putting the due diligence and getting this stuff done on top of that we also have an update about their holdings when it comes to ethereum and for bitcoin they say here specifically presently at this current time we have a 25 000 ethereum in cold wallets and 875 bitcoin we are continuing to huddle all of our bitcoins which have been mined with green energy that’s very very important going forward they say our current inventory of coins invested in btc and ethereum are valued at 100 million dollars keep in mind this is in canadian dollars so there’s a currency difference annual run rate at today’s bitcoin prices and difficulties approximately 220 million dollars canadian which is so so impressive and an annual run rate is basically an estimate as to how much the company is going to generate over the year so it’s not for the quarter it’s for the year guys overall i’ll be very very honest with you the way that this is played out sucks it really really sucks to see delays when it comes to financial statements and to earnings like this this is not a good look for the company and sometimes even for me right now as a shareholder of this company i’m almost embarrassed like to talk about this but i really hope that management going forward really gets this issue addressed i understand when you have a big company and you have operations in many different countries accounting can be somewhat challenging but there’s absolutely no excuse high blockchain is not the only company around that has operations in different countries let’s be very very honest management did drop the ball on this and it is something that has to be addressed going forward on their next earning calls i hope questions are asked about this to see that management is putting a plan in place to prevent this from happening in the future overall hive is going to release fantastic earnings and does have fantastic financials i’m still very bullish on the company i’m still holding my position but i would like to see a bit more proactiveness from management about this this can’t happen again and i’m sure that you guys agree with me going forward the future is bright for high blockchain i hope you guys enjoyed this video and i’ll see you guys in the next one have an awesome day
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Hive BlockChain Stock Frustrating News Released Today. Some Good News From Hive Too.  $hive $hvbt

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