HIVE management confirms that it is working diligently to meet the Company's obligations relating to its Annual Filings and that, since it announced a delay of its Annual Filings (the "Filings Notice") there is no material change to the information set out in the Filings Notice that has not been generally disclosed and there has been no failure by the Company in fulfilling its stated intentions with respect to satisfying the provisions of the alternative information guidelines set out in NP 12-203.
"We will work to reconfigure the financial reporting process with all the different jurisdictions that we operate in" stated Darcy Daubaras, CFO of HIVE. I will undertake to change processes to fast track more timely audits for all financial reporting periods once the year end and interim results are filed." said Frank Holmes.
"Like most shareholders I am very disappointed and dissatisfied with the time delays and promise this will not happen again. This means the board and management are in a black out period and can not trade in the shares until the Annual Filings and the Interim Filings have been filed. HIVE will continue to provide biweekly status updates on the delay of filing its Annual Filings and Interim Filings. As a result of the delayed Annual Filings the Company will have a delay in the filing of its interim financial statements, management's discussion and analysis, and the related certifications for the period ended J("Interim Filings"), which have a filing deadline of August 30, 2021. HIVE is also announcing that it expects to file its annual financial statements and accompanying management's discussion and analysis for the financial year ended Ma(collectively, the "Annual Filings"), on or before September 16, 2021. We will report on our August 2021 Bitcoin production in an upcoming press release after the month has ended.
The Company is pleased to provide the following update on its global BTC growth in production for the current 2022 fiscal year: Presently we hold 946 Bitcoin in cold wallet custody. Our current inventory of coins invested in Bitcoin and Ethereum are valued at $116 million.
As always, we caution our investors that Bitcoin and Ethereum continue to have a high daily volatility of plus or minus 6% and investors need to be aware of this volatility. As expansion continues to ramp up this number will increase. Our strong hashrate from both Bitcoin and Ethereum is resulting in a daily income of over $600,000, or an annual run rate of $220 million, based on the current difficulty, global hash rates, and Bitcoin and Ethereum prices, with estimated annual expenses of $25 million.
HIVE intends to continue to utilize cash flow to make opportunistic investments and upgrade our fleet of BTC and ETH mining equipment on a regular monthly basis. These recent miner deliveries are a result of our strategy to increase our bitcoin mining capacity which includes the sourcing of mining equipment from leading industry manufacturers. "This is a monumental achievement for us as we continue to our goal of over 3 EX/s by the end of fiscal 2022, including the conversion of ETH, a goal which is greatly supported by today's announcement of new miner deliveries," Frank Holmes, Executive Chairman of HIVE continued, "This achievement has been challenging because of the global shortages in chips and logistics delays in shipping equipment from Asia due to Covid 19." 945 miners will be located in Lachute, Quebec and 900 miners Grand Falls, New Brunswick. These miners will be deployed between our 2 Canadian data centres. Over the past 24 hours in Canada the Company has received deliveries of 1,845 Bitcoin miners with a total hashrate of 172 Petahash per second. HIVE is proud to announce that our global hash rate from Bitcoin mining will exceed 1 EX/s today.