HIVE Blockchain Technologies has revealed the progress made regarding the impending transition to HIVE 2.0. The corporation operates several cryptocurrency mining centers.

Firstly, HIVE issued updates concerning its ASIC miners which were launched at the end of September. Here, HIVE revealed that the cloud-based contract has been adjusted and now demands considerably lower operational fees. Furthermore, it has a provision for extending the period for an additional year. The HIVE management team is confident that the new contract will generate substantial profits for the company.

In addition, HIVE confirmed the appointment of Marco Streng as the new vice chairman, as well as Darcy Daubaras as the new CFO. The new appointees will assume their respective offices with immediate effect. Both Marco and Darcy are expected to contribute significantly towards the attainment of the firm’s objectives.

Currently, Marco Streng serves as the CEO of Genesis. He actively contributed to the establishment of both Genesis and HIVE. Under his new position, Marco is expected to bring the expertise he acquired at Genies. Over the past five years, Streng has transformed Genesis into one of the leading cloud mining service providers in the blockchain space.

On his part, Darcy boasts of two decades worth of experience in the corporate accounting industry. His immediate former appointment was at FinancialCAD Corp., where he was a member of the top brass. In his illustrious career, Darcy has worked for prestigious companies such as Mercer International and many others.

Talking about the new appointees, Frank Holmes, the interim chairperson of HIVE, said that he was excited by having Darcy to the company and holds that his skill set will be fundamental in the transition to HIVE 2.0. Frank also thanked Marco for agreeing to share his knowledge with HIVE.

On the adjustments made on the cloud-based contracts, Frank stated that it will have a positive impact on the returns generating in the cryptocurrency mining ventures operated by HIVE. He further mentioned that this profit will be sustained even in times when the market conditions are adverse. Frank concluded by lauding the excellent job done by Darcy's predecessor, Jessica Van Den Akker.

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