NASHVILLE, February 6, 2024 – HIVE Digital Technologies Ltd (NASDAQ: HIVE) and Bitcoin Magazine announce “FUD Fighters”, a new initiative centered around education on the many false narratives articulated by critics of Bitcoin. The “FUD Fighters” series will consist of four in-depth research articles written by industry experts to counter erroneous, biased and misinformed narratives that seek to mislead the public about Bitcoin. Through this initiative, HIVE and Bitcoin Magazine aim to highlight, through a data-oriented approach, the tangible benefits of this technology, and consequently, to rebuke the unequivocally false reporting from traditional media outlets, pundits and biased researchers. “FUD Fighters” will provide the Bitcoin community with refutations of commonly circulated “FUD” (fear, uncertainty, doubt) so that the community may bolster its ability to counter falsehoods that are hindering Bitcoin’s integration into financial markets, power infrastructure and social norms.
As the first Bitcoin media organization (est. 2012), Bitcoin Magazine has educated the public on Bitcoin and bitcoin mining for more than a decade, working to provide high-quality journalism on the inner workings of the Bitcoin ecosystem. Since Bitcoin’s entrance into mainstream cultural and political conversation, the technology has been undeservedly maligned by legacy interests for its perceived inefficiency, danger or wastefulness. Alongside HIVE, Bitcoin Magazine believes these assertions to be entirely without merit, and in many instances, reflective of the biases, motivated reasoning and cognitive distortions pervasive amongst individuals and institutions that Bitcoin is poised to disrupt.
HIVE Executive Chairman Frank Holmes, in a statement to Bitcoin Magazine, noted the importance of Bitcoin education amidst the overall lack of objective reporting on the topic:
“At HIVE, we are passionate about our efforts to support and secure the Bitcoin network of 17,000 active nodes, both for the benefit of our shareholders, but also for our belief in Bitcoin’s unique ability to be a source of portable, scarce, and digital wealth.
It seems that the very entities critical of gold or other alternative asset classes, have even harsher sentiments toward Bitcoin. This observation underscores a broader pattern of resistance from traditional financial institutions, bank lobbyists, and global non-elected agencies like the Bank of International Settlements toward alternative stores of value and decentralized, portable assets.
Objective reporting can be scarce in the Bitcoin sector, making it crucial for investors to seek knowledge and understanding independently. We hope the “FUD Fighters” campaign with Bitcoin Magazine – a long-time pioneer in Bitcoin and business partner of HIVE – can do just that. The FUD ends now.”
Mark Goodwin, Bitcoin Magazine’s Editor-in-Chief:
“For those working in Bitcoin, we have now come to expect the poorly articulated, yet shockingly popular, media campaigns that appear from time to time. From ill-fated criticisms of its energy use, to its technological competitors projecting their own improprieties onto Bitcoin, and the always-classic moralization of individual self-determination, these attacks are trite, and revealing of the motivations underlying those who levy them.
It should be no secret that Bitcoin Magazine as a publication has a point-of-view, and that point-of-view is that Bitcoin is a positive technology worth fighting for because of the benefits that it confers humanity. To that end, education and objective journalism are critical to fostering a public dialog that will converge upon truth.FUD Fighters is an attempt to clarify the muddy waters of the Bitcoin discourse by highlighting refutations from experts who have taken the time to run the numbers and go beyond the surface. Their conclusions are by-and-large contrary to the baseless claims that entrenched interests would prefer to be accepted as truth.”
The first installment of the FUD Fighters series – a response to a new report by the United Nations University – comes from Margot Paez, PhD Candidate in Civil Engineering and Research Fellow (Mining & Energy) at the Bitcoin Policy Institute. Margot is writing her PhD thesis at Georgia Institute of Technology on the interplay between bitcoin mining and energy center data modeling. Paez’s FUD Fighters piece will provide a sharp refutation of the errors, misrepresentations and faulty methodological approach of the United Nations University and the policy recommendations made therein.
About Bitcoin Magazine
Bitcoin Magazine, the world’s first publication covering Bitcoin, serves its international readership with innovative ideas, breaking news, and global impact at the intersection of finance, technology, and Bitcoin. Operating from Nashville, Tennessee, Bitcoin Magazine is published by BTC Media. For the latest in Bitcoin news, visit BitcoinMagazine.com.
About HIVE Digital Technologies
HIVE Digital Technologies Ltd. went public in 2017 as the first cryptocurrency mining company listed for trading on the TSX Venture Exchange with a sustainable green energy focus.
HIVE is a growth-oriented technology stock in the emergent blockchain industry. As a company whose shares trade on a major stock exchange, we are building a bridge between the digital currency and blockchain sector and traditional capital markets. HIVE owns green energy-powered data center facilities in Canada, Sweden, and Iceland, where we endeavor to source geothermal and hydroelectric energy to mine digital assets such as Bitcoin on the cloud.
Since the beginning of 2021, HIVE has held in secure storage the majority of its treasury of ETH and BTC derived from mining rewards. Our shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of Bitcoin. Because HIVE also owns hard assets such as data centers and advanced multi-use servers, we believe our shares offer investors an attractive way to gain exposure to the cryptocurrency space.