Disseminated on behalf of: HIVE Digital Technologies
Frank Holmes, Executive Chairman of HIVE Digital Technologies (TSX.V: HIVE | Nasdaq: HIVE | FSE: YO0), discusses the company’s journey as the first publicly traded crypto mining firm and its commitment to green energy and sustainable Bitcoin mining. Frank shares insights into HIVE’s unique position in the market, holding $200M in green-mined Bitcoin, its expansion into AI technology, and its role in both the Bitcoin and decentralized asset space.
Jim Gordon
- Hi, I am Jim Gordon and you’re watching “MarketOne Minute”. Joining us is Frank Holmes. He is the chairman and co-founder of HIVE Digital Technologies. Frank, it is always a pleasure to talk to you, welcome.
Frank Holmes
- Well, thank you Jim and you know what? It’s just great to be back and here we are in this secular bull market in alternative asset classes, especially Bitcoin.
Jim Gordon
- Well, we’re gonna get into that, but first, let’s talk about yourself and HIVE Digital Technologies.
Frank Holmes
- In 2017, I was trying to launch a Bitcoin ETF, and I realized due to AML and KYC concerns, it just wasn’t gonna happen. Fortunately, it happened this year and that propelled Bitcoin up to about a hundred thousand. So what did I do? I went out and co-founded a company called HIVE Blockchain Technology, the first crypto mining company to go public. I was seated here in Vancouver. I became the chairman and I put up $5 million immediately, institutional money came behind it and it became the Bitcoin darling for gold investors that wanted exposure to Bitcoin. So HIVE became the proxy for those new enthusiastic investors in the Bitcoin ecosystem.
Jim Gordon
- Well, Frank, explain to investors what sets HIVE apart from other companies in the space.
Frank Holmes
- Well, first of all, is being first in many things, how we recycle molecules of electricity, but we’re green only. We source green energy, hydro in Sweden. We source it in New Brunswick and in Quebec. And now we’re expanding into Paraguay for also hydro energy. So we only mine green and clean coins. And the other part is that we hold as many green and clean coins as possible in our balance sheet. And today we have about $200 million on our balance sheet.
Jim Gordon
- Well, Frank, in your opinion, what are the benefits of investing in a company like HIVE instead of buying Bitcoin itself or adding shares of Bitcoin ETF?
Frank Holmes
- It’s a great question because it’s like gold investors comparing, do I buy a gold stock or do I just buy gold? And there’s been only a handful of gold stocks this century that have out-performed billion. And so that is a ongoing thought process. But I think that HIVE is unique in how it’s positioned. It is positioned to have a lot of Bitcoin on its balance sheet as much as possible, and it has a strong growth profile that will be 2% of the network this time next year. Right now, we’re about 1% of all the Bitcoin per being produced.
Jim Gordon
- Frank, let’s pull back and talk macro. You’re also well known in the world of gold. You and I have talked many times on camera, off camera about gold. Tell us why investors should not have to pick one of the two decentralized assets, gold and Bitcoin.
Frank Holmes
- All asset classes have their own unique DNA of volatility. Gold is actually less volatile than the S&P 500, but Bitcoin is new. And anytime something is new, it has substantially greater volatility. You can see this, in particular, gold stock versus gold. Gold stocks have more volatility, HIVE will have more volatility, but today, volatility is vitality. That’s what’s important to recognize in the capital markets.
Jim Gordon
Frank, finally, what are you looking forward to most for HIVE in the new year?
Frank Holmes
Well, I’m so excited about HIVE because not only are we functioning in nine time zones every day, in five languages, we are recognized as the most efficient Bitcoin miners in the world by third parties. And with that, we’ve also been growing our AI business, artificial intelligence, we are the first to go and buy almost a hundred million dollars of Nvidia chips to be able to mine Ethereum, and then we pivot it to AI, which is a huge secular growth. So what does HIVE offer investors? We offer a Bitcoin positioning, green only, and a huge AI upside with our data centers.
Jim Gordon
- Always a pleasure, Frank, thank you for joining us.
Frank Holmes
- Well, thank you.
ABOUT HIVE DIGITAL TECHNOLOGIES:
HIVE Digital Technologies (TSX.V: HIVE | Nasdaq: HIVE | FSE: YO0) is a pioneering, publicly traded company focused on green energy-driven Bitcoin mining and the development of cutting-edge AI infrastructure solutions. Learn more about them on their website here.