July 1, 2021

HIVE Joins NVIDIA Partner Network and 
Grows Professional GPU Footprint with US$66 Million Purchase

This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated February 2, 2021 to its short form base shelf prospectus dated January 27, 2021. 

Vancouver, Canada – HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (Nasdaq:HVBT) (FSE:HBF) (the “Company” or “HIVE”) is happy to announce that it has joined the NVIDIA Partner Network (the “NPN”) Cloud Service Provider program and entered into purchase agreements for NVIDIA GPU’s with a total contract value of more than US$66 million.

NVIDIA Partner Network

Joining the NPN program is a significant step towards HIVE’s growth strategy and its future plans to expand into Enterprise Cloud services focused on High Performance Computing (“HPC”) workloads.  Acceptance into the NTN program provides the Company with access to NVIDIA’s ecosystem, partners, customers and deep industry expertise.  These benefits will enable HIVE to transition towards Enterprise Cloud seamlessly by leveraging NVIDIA’s technical leadership.

Data Center Grade GPU Cards

HIVE has committed to purchase NVIDIA GPU’s with a total contract value of over US$66 million.  These cards will be delivered over the remaining months of calendar 2021 with deliveries arriving each month.  “HIVE has always had the ability to change course when required since being the first blockchain company to go public in 2017”, said Frank Holmes, Executive Chairman of HIVE.  Frank continued, “Our investment in NVIDIA GPU’s strengthens HIVE’s to remain nimble and gives us the power to pivot in this ever changing and dynamic industry.”

July 2, 2021

HIVE Announces Long Term HPC Computing Strategy Beyond Ethereum 2.0

This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated February 2, 2021 to its short form base shelf prospectus dated January 27, 2021. 

Vancouver, Canada – HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (Nasdaq:HVBT) (FSE:HBF) (the “Company” or “HIVE”) is pleased to announce its long term high performance computing strategy beyond Ethereum 2.0.

Ethereum and Bitcoin Growth Plans for 2021

HIVE’s current Ethereum production is over 3,000 Gigahash per second (“GH/s”) and has the potential to almost double after card upgrades of over 5,500 GH/s by the end of December 2021, and our current Bitcoin production is 544 Petahash per second, which we expect to double by early September 2021 to 1.0 Exahash per second (“EH/s”) and double again by Christmas 2021 to 2.3 EH/s.  Based on current ETH and BTC prices and difficulty in mining our revenue could be US$30 million per month when we have all our machines installed and mining.

Long Term ‘HPC’ - High Performance Computing Strategy

High performance GPU cards are key to HIVE’s long term strategy to build ‘HPC’ High Performance Data Centers which are growing in demand globally, while in the short term to be a more efficient Ethereum miner and to increase our hash power to produce more virgin Ether and HODL these assets on our balance sheet.  For the past year Ethereum is up 821% while Bitcoin has appreciated 270% and we believe over the next 2 years Ethereum could continue to outperform Bitcoin.  The Company is of the opinion that Ethereum 2.0 proof of stake will take at least another 2 years before Ethereum mining could become financially unattractive.  We believe the new high performing GPU cards will remain robust, extensible technology that can be scaled and repurposed for the boom in gaming, AI and movie animation, thus flexible and profitable for a HPC (high performance computing) data business strategy for at least another 5 years.  The Company HODLs its Ethereum in a cold wallet which results in a very liquid balance sheet asset.  Later in the Ethereum life cycle we may consider staking our virgin Ether for additional income.

Ethereum is the Backbone to the Blockchain Super Growth Wave

We believe Ethereum will continue to be the backbone of this new financial ecosystem.  Many believe Ethereum has already won the race to become the foundation of Web 3.0 and Finance 3.0, with the explosion in smart contracts, stablecoins, DeFi generally and now NFT’s for music, art and sports.  Ethereum has become the fundamental base layer to all these new applications and has the most developers building real-world applications on top of it.  As a result the network has built a large lead over its competition.  Most investors are not aware that Ethereum has substantially more developers building on it than any other blockchain platform. 

HIVE understands we are in the early days, and this industry can change rapidly.  Therefore we are positioning ourselves with considerable optionality. We are ramping up Bitcoin mining on the cloud as well as our GPU operations.  HIVE is currently working on the design for pilot HPC sites in both Canada and Sweden and then expect to ramp up our HPC capacity. Today, the revenue from HPC is both a high margin business like Ethereum mining yet it is much less volatile than cryptocurrency mining on a quarterly basis.

ESG Strategy

We continue to review green energy opportunities and have turned down financially attractive mining deals because they are not using green energy. We are focused on renewable sources of electricity such as hydroelectric, geothermal, wind and solar. So far we are only using hydroelectric and geothermal sources of electricity in Sweden, Iceland and Canada.

July 12, 2021

HIVE Buys 3,019 High Performance Bitcoin Miners Increasing Production By 46% Immediately

This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated February 2, 2021 to its short form base shelf prospectus dated January 27, 2021. 

Vancouver, Canada – HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (Nasdaq:HVBT) (FSE:HBF) (the “Company” or “HIVE”) is excited to announce the purchase and immediate hashing of 3,019 MicroBT WhatsMiner M30S dedicated mining computers, or “miners”.

These new machines have an aggregate hash power of 264 Petahash per second (PH/s).  The integration of these miners into HIVE’s systems will be immediate upon closing and will increase HIVE’s overall Bitcoin operating hashrate by approximately 46%.

Next Generation Miner Expansion

With the addition of these 3,019 MicroBT M30S miners, HIVE’s aggregate operating hash rate increases from approximately 566 PH/s to 830 PH/s.  At the current difficulty and Bitcoin price these purchased miners will generate an additional US$80,000 in daily income.  Bitcoin continues to have a daily volatility of plus or minus 6% and investors need to be aware of this volatility.

The miners to be acquired in the transaction are already located onsite at HIVE’s facilities in Lachute, Quebec and Grand Falls, New Brunswick.  The miners are being purchased from Foundry Digital LLC (“Foundry”), a wholly owned subsidiary of the Digital Currency Group (DCG) focussed on digital assets’ mining and staking.  As part of the partnership, HIVE will contribute its Bitcoin hashpower to Foundry USA Pool going forward, whose other major customers include Blockcap, Hut8, Bitfarms and Foundry itself, among others.

Frank Holmes, Executive Chairman of HIVE stated “We are pleased to be executing on a transaction that dramatically increases our mining capacity without any logistics delays.  Our entry into a North American mining pool furthers our goal of increased transparency and accountability with our partners.  Mining power is shifting from east to West, and we’re excited to be involved.”

Mike Colyer, CEO of Foundry said, “We are excited to have HIVE as a partner for the Foundry USA Pool as we continue playing our part in securing the global bitcoin mining network.”

As consideration for the sale of the miners, Foundry will be issued cash and 1.5 million warrants of the Company, subject to regulatory approval. Each full warrant will entitle the holder to acquire one common share for C$3.11 for a period of 2 years.  Mr. Holmes said “Foundry is one of the most well-respected firms in the mining space, and we’re pleased to have them as investors in HIVE, the only publicly traded pure 100% green, low-cost energy miner.”

HODL Strategy

This new production will quickly accelerate building up our Bitcoin reserves.  Presently we hold 605 Bitcoin in cold wallets.  Our goal to get to one Exahash of Bitcoin mining by the end of August is now much closer with this addition of 3,019 high performance machines.

New Mining Pool

We will be joining Foundry’s mining pool which we believe is the best option for our investors.  Foundry USA Pool is based in the US, where we should see better transparency, accountability and competitive costs. 
 
A mining pool is a collective that allows Bitcoin miners to combine their hashing power, and achieve a steadier stream of coins.

Nasdaq Bell

The team of HIVE is pleased that we are in New York City today to ring the closing bell for HIVE’s new listing on the Nasdaq.

About Foundry Digital LLC

A subsidiary of DCG, Foundry Digital LLC is a financing and advisory company focused on digital asset mining and staking. With the mission of empowering decentralized infrastructure for a digital world, Foundry provides North American digital asset mining businesses with capital and intelligence. Foundry is based in Rochester, NY. For more information, please visit foundrydigital.com

About HIVE Blockchain Technologies Ltd.

HIVE Blockchain Technologies Ltd. went public in 2017 as the first cryptocurrency mining company with a green energy and ESG strategy.

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 state-of-the-art, green energy-powered data centre facilities in Canada, Sweden, and Iceland, where we source only green energy to mine on the cloud and HODL both Ethereum and Bitcoin. Since the beginning of 2021, HIVE has held in secure storage the majority of its ETH and BTC coin mining rewards.  Our shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of cryptocurrencies such as ETH and BTC.  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.  HIVE traded over 2 billion shares in 2020.

We encourage you to visit HIVE’s YouTube channel here to learn more about HIVE.

For more information and to register to HIVE’s mailing list, please visit www.HIVEblockchain.com. Follow @HIVEblockchain on Twitter and subscribe to HIVE’s YouTube channel.

On Behalf Of HIVE Blockchain Technologies Ltd.

“Frank Holmes”
Executive Chairman
 

For further information please contact:

Frank Holmes
Tel: (604) 664-1078

July 30, 2021

HIVE Reaches $200 Million Annual Run Rate and Purchases 4,000 Next Generation Miners

This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated February 2, 2021 to its short form base shelf prospectus dated January 27, 2021. 

Vancouver, Canada – HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (Nasdaq:HVBT) (FSE:HBF) (the “Company” or “HIVE”) is excited to announce that its global operations are producing a BTC equivalent operational hash rate of 1.675 EH/s from its Bitcoin and Ethereum operations. Based on current Ethereum and Bitcoin prices, we are generating daily income of $550,000, which translates to an annual run rate of $200 million.  Estimated annual run rate operating and overhead costs are $25 million.  In addition HIVE continues to strengthen its miner purchasing pipeline with the purchase of 4,000 next generation miners with an aggregate operating hash power of 272 PH/s.

Global Hash Rate

With the addition of the 3,019 high performance Bitcoin miners that was announced on July 12, 2021, and additional miners that have been received since as part of our miner purchase program, we currently have a total bitcoin operating hash rate of 925 Petahash per second (PH/s). This puts us right on track of our previous projections of reaching 1 Exahash per second (EH/s) of Bitcoin operating hash rate in August.  We currently project tripling our operational Bitcoin mining rate from here by the end of calendar year 2021, supported by today’s announcement of new miner purchases.

From our Ethereum production we currently have an operating hash rate of 3,383 Gigahash per second (GH/s).  A number of our dedicated followers and analysts have been converting this Ethereum hash rate into a Bitcoin equivalent hash rate.  Based on these calculations our current Ethereum hash rate is the equivalent of a Bitcoin hash rate of approximately 750 PH/s.  This equivalent hash rate of 750 PH/s combined with our pure Bitcoin hash rate of 925 PH/s provides us with a total BTC equivalent operational hash rate of 1.675 EH/s (the “Global HIVE Hash Rate”).

Our strong Global HIVE Hash Rate is resulting in a daily income of over $550,000, or an annual run rate of $200 million, based on the current difficulty, global hash rates, and Bitcoin and Ethereum prices, with estimated annual expenses of $25 million.  As expansion ramps up this number will increase.  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.

New Miners

This new equipment sourced from a top global manufacturers is expected to be received and in operation within the next 60 days, delivered in 2 tranches, with 2,000 miners in August, and 2,000 miners in September 2021.

“This strategic purchase of equipment was realized as a result of the very strong relationships that our team have with the leading manufacturers in the ASIC miner space.” Frank Holmes, Executive Chairman of HIVE continued, “This transaction is part of our continuous momentum that we have for steady and controlled growth to be the leading clean and green miner in our industry.”

Today’s announcement is part of our continuing strategy to increase our bitcoin mining capacity. HIVE intends to continue utilizing cash flow to make opportunistic investments in ASIC and GPU next generation mining equipment that can provide positive gross mining margins.

Expansion Progress

We are making good progress on new data center construction at our New Brunswick, Canada site. Here are some recent pictures of the foundation of what will be a 20-megawatt Bitcoin mining facility.

About HIVE Blockchain Technologies Ltd.

HIVE Blockchain Technologies Ltd. went public in 2017 as the first cryptocurrency mining company with a green energy and ESG strategy.

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 state-of-the-art, green energy-powered data centre facilities in Canada, Sweden, and Iceland, where we source only green energy to mine on the cloud and HODL both Ethereum and Bitcoin. Since the beginning of 2021, HIVE has held in secure storage the majority of its ETH and BTC coin mining rewards.  Our shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of cryptocurrencies such as ETH and BTC.  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.  HIVE traded over 2 billion shares in 2020.

We encourage you to visit HIVE’s YouTube channel here to learn more about HIVE.

For more information and to register to HIVE’s mailing list, please visit www.HIVEblockchain.com. Follow @HIVEblockchain on Twitter and subscribe to HIVE’s YouTube channel.

On Behalf Of HIVE Blockchain Technologies Ltd.

“Frank Holmes”
Executive Chairman