0001062993-22-007325.txt : 20220310 0001062993-22-007325.hdr.sgml : 20220310 20220310162322 ACCESSION NUMBER: 0001062993-22-007325 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 12 CONFORMED PERIOD OF REPORT: 20220215 FILED AS OF DATE: 20220310 DATE AS OF CHANGE: 20220310 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HIVE Blockchain Technologies Ltd. CENTRAL INDEX KEY: 0001720424 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374] IRS NUMBER: 000000000 STATE OF INCORPORATION: A1 FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-40398 FILM NUMBER: 22729338 BUSINESS ADDRESS: STREET 1: 855 - 789 WEST PENDER STREET CITY: VANCOUVER STATE: A1 ZIP: V6C 1H2 BUSINESS PHONE: (604) 664-1078 MAIL ADDRESS: STREET 1: 855 - 789 WEST PENDER STREET CITY: VANCOUVER STATE: A1 ZIP: V6C 1H2 6-K 1 form6k.htm FORM 6-K HIVE Blockchain Technologies Ltd.: Form 6-K - Filed by newsfilecorp.com

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of March, 2022

Commission File Number: 001-40398

HIVE Blockchain Technologies Ltd.
(Translation of registrant's name into English)

British Columbia, Canada
(Jurisdiction of incorporation or organization)

Suite  855 -789 West Pender Street

Vancouver, BC

V6C 1H2

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

[  ] Form 20-F      [X] Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [  ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [  ]


EXHIBIT INDEX

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

SIGNATURES

HIVE BLOCKCHAIN TECHNOLOGIES LTD.

 

By:  /s/ Darcy Daubaras

 Name: Darcy Daubaras

 Title: Chief Financial Officer

Date: March 9, 2022


EX-99.1 2 exhibit99-1.htm EXHIBIT 99.1 HIVE Blockchain Technologies Ltd.: Exhibit 99.1 - Filed by newsfilecorp.com

Form 51-102F3
Material Change Report


Item 1 Name and Address of Company
   
  HIVE Blockchain Technologies Inc. ("HIVE" or the "Company")
  Suite 855, 789 West Pender Street
  Vancouver, BC V6C 1H2
   
Item 2 Date of Material Change
   
  February 15, 2022
   
Item 3 News Release
   
  The news release reporting the material change was issued by HIVE and disseminated through a newswire company in Canada on February 15, 2022 and subsequently filed on SEDAR at www.sedar.com.
   
Item 4 Summary of Material Change
   
  On February 15, 2022, the Company announced a record earnings report for the third quarter ended December 31, 2021.
   
Item 5 Full Description of Material Change
   
Item 5.1 Full Description of Material Change
   
  Please see the attached news release dated February 15, 2022.
   
Item 5.2 Disclosure for Restructuring Transactions
   
  Not applicable.
   
Item 6 Reliance on subsection 7.1(2) of National Instrument 51-102
   
  Not applicable.
   
Item 7 Omitted Information
   
  Not applicable.
   
Item 8 Executive Officer
   
  Darcy Daubaras Chief Financial Officer
  Telephone: 604-664-1078
   
Item 9 Date of Report
   
  February 15, 2022


HIVE BLOCKCHAIN TECHNOLOGIES LTD.

February 15, 2022

HIVE Announces Record Quarterly Revenue of $68 Million up 397%
From The Same Quarter Last Year and Earnings for our 3
rd Quarter
Ended December 31, 2021

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:HIVE) (FSE: HBF) (the "Company" or "HIVE") is pleased to announce a record earnings report for the third quarter ended December 31, 2021 (all amounts in US dollars, unless otherwise indicated).

For the three-month period, revenue rose to $68.2 million, up 30% compared with last quarter, and 397% since the same quarter last year. Net income reached $64.2 million, up 7% from last quarter, and 273% since the prior year.

Hive's combined liquid BTC and ETH had a gross value of $168 million up 11x from $15 million a year ago ended December 31, 2020. HIVE ended the current December quarter holding 1,813 Bitcoin ("BTC") worth $83.1 million and 23,290 Ether ("ETH") worth $84.9 million.

Frank Holmes, HIVE's Executive Chairman, stated "We wish to again thank our loyal shareholders for believing in our vision to mine both Ethereum and Bitcoin to generate robust cash flow returns on invested capital and we believe our results continue to validate the significant contribution to our strategy to mine both BTC and ETH and HODL as many coins as possible."

Darcy Daubaras, HIVE's CFO said "A year ago, we made the conscious decision not to sell our mined cryptocurrency or undertake an expensive financing when brokers were offering capital at 20% discounts or encouraging us to borrow against our BTC and ETH assets at a 12% cost of capital in the scramble by crypto mining companies to purchase more ASIC chips. HIVE's modest equity funding's were done at prevailing market prices or premiums to the stock price, and this has helped us generate the highest robust returns on invested capital relative to our peers."

Q3 Quarterly Highlights- December 31, 2021

 Generated revenue from digital currency mining of $68.2 million, with a gross mining margin1 of $61.7 million

 Mined 697 Bitcoin and over 7,126 Ethereum during the three-month period ended December 31, 2021

 Earned net income of $64.2 million for the period

 Working capital increased by $141.2 million during the three-month period ended December 31, 2021

 Digital currency assets of $168.1 million, as at December 31, 2021

_________________________________

1 Non-IFRS measure. A reconciliation to its nearest IFRS measures is provided under "Reconciliations of Non-IFRS Financial Performance Measures" below.


Q3 F2022 Financial Review

For the three months ended December 31, 2021, revenue from digital currency mining was $68.2 million, an increase of approximately 397% from the prior year primarily due to an increase in cryptocurrency prices, the increased production of Bitcoin as a result of the Quebec and Atlantic facility acquisition and the purchase of miners for those facilities.

Gross mining margin1 during the period was $61.7 million, or 90% of income from digital currency mining, compared to $10.6 million, or 78% of income from digital currency mining, in the same period in the prior year. The Company's gross mining margin from digital currency mining is partially dependent on external network factors including mining difficulty, the amount of digital currency rewards and fees it receives for mining, as well as the market price of digital currencies.

Net income during the quarter ended December 31, 2021, was $64.2 million, or $0.17 per share, compared to $17.2 million, or $0.05 per share, the same period last year. The improvement was driven primarily by the improvement in gross mining margin1, higher Ethereum and Bitcoin prices, gains on the sale of digital currencies, and foreign exchange.

    Q3 2022     Q2 2022     Q1 2022     Q4 2021     Q3 2021  
                Restated              
                               
Revenue from digital currency mining $ 68,183,402   $ 52,619,094   $ 37,239,767   $ 33,420,171   $ 13,707,879  
                               
Operating and maintenance   (6,526,317 )   (7,593,349 )   (6,220,684 )   (5,726,129 )   (3,078,934 )
Depreciation   (14,992,288 )   (9,626,529 )   (6,899,182 )   (5,035,231 )   (2,476,592 )
    46,664,797     35,399,216     24,119,901     22,658,811     8,152,353  
                               
Gross mining margin   61,657,085     45,025,745     31,019,083     27,694,042     10,628,945  
Gross mining margin % (1)   90%     86%     83%     83%     78%  
Gross margin %   68%     67%     65%     68%     59%  
                               
Revaluation gain of digital currencies (2)   4,052,617     18,017,637     (8,492,727 )   16,090,102     6,315,970  
Gain on sale of digital currencies   7,949,927     4,679,412     4,106,057     3,841,993     1,679,213  
Hosting revenue   661,387     953,958     1,742,906     410,704     393,518  
                               
Share based compensation   (1,672,614 )   (1,478,637 )   (2,322,426 )   (534,193 )   (209,726 )
General expenses   (2,862,011 )   (2,633,025 )   (2,314,873 )   (3,102,849 )   (911,076 )
Foreign exchange gain (loss)   (1,676,763 )   (1,888,166 )   528,868     (367,219 )   1,746,573  
                               
Realized gain on investments   -     -     -     -     6,639  
Unrealized (loss) gain on investments   11,875,641     6,168,239     (5,808,523 )   645,383     148,967  
Change in fair value of derivative liability   590,837     914,392     (885,612 )   (857,702 )   -  
Gain (loss) on sale of subsidiary   -     -     3,171,275     (23,442,219 )   -  
Finance expense   (1,338,151 )   (305,147 )   (319,644 )   (871,941 )   (111,918 )
Tax expense   -     -     -     (151,366 )   -  
Net income from continuing operations $ 64,245,667   $ 59,827,879   $ 13,525,202   $ 14,319,504   $ 17,210,513  
                               
EBITDA (1) $ 80,576,106   $ 69,759,555   $ 20,744,028   $ 20,378,042   $ 19,799,023  
Adjusted EBITDA (1) $ 77,605,266   $ 52,306,163   $ 29,273,518   $ 29,122,054   $ 13,692,779  

(1) Non-IFRS measure. A reconciliation to its nearest IFRS measures is provided under "Reconciliations of Non-IFRS Financial Performance Measures" in the Company's MD&A.

(2) Revaluation is calculated as the change in value (gain or loss) on the coin inventory. When coins are sold, the net difference between the proceeds and the carrying value of the digital currency (including the revaluation), is recorded as a gain (loss) on the sale of digital currencies

Financial Statements and MD&A

The Company's Consolidated Financial Statements and Management's Discussion and Analysis (MD&A) thereon for the three and nine months ended December 31, 2021 will be accessible on SEDAR at www.sedar.com under HIVE's profile and on the Company's website at www.HIVEblockchain.com.


Webcast Details

Management will host a webcast on Tuesday, February 15, 2022, at 8:30 am Eastern Time to discuss the Company's financial results. Presenting on the webcast will be Frank Holmes, Executive Chairman; Darcy Daubaras, Chief Financial Officer; and Aydin Kilic, President and Chief Operating Officer. Click here to register for the webcast.

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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release

Forward-Looking Information

Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about restructuring of the Company's operations and sustainable future profitability; potential further improvements to the profitability and efficiency across mining operations by optimizing cryptocurrency mining output, continuing to lower direct mining operations cost structure, and maximizing existing electrical and infrastructure capacity including with new mining equipment in existing facilities; continued adoption of Ethereum and Bitcoin globally; the potential for the Company's long term growth; the business goals and objectives of the Company, and other forward-looking information includes but is not limited to information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.

Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the efficiencies obtained through restructurings may not lead to operational advantages or profitability; further improvements to the profitability and efficiency may not be realized as currently anticipated, or at all; the digital currency market; the Company's ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company's operations; the volatility of digital currency prices; and other related risks as more fully set out in the Filing Statement of the Company dated and other documents disclosed under the Company's filings at www.sedar.com.


This news release also contains "financial outlook" in the form of gross mining margins, which is intended to provide additional information only and may not be an appropriate or accurate prediction of future performance and should not be used as such. The gross mining margins disclosed in this news release are based on the assumptions disclosed in this news release and the Company's Management Discussion and Analysis for the fiscal year ended March 31, 2021, which assumptions are based upon management's best estimates but are inherently speculative and there is no guarantee that such assumptions and estimates will prove to be correct.

The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's ability to realize operational efficiencies going forward into profitability; profitable use of the Company's assets going forward; the Company's ability to profitably liquidate its digital currency inventory as required; historical prices of digital currencies and the ability of the Company to mine digital currencies will be consistent with historical prices; and there will be no regulation or law that will prevent the Company from operating its business. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.


EX-99.2 3 exhibit99-2.htm EXHIBIT 99.2 HIVE Blockchain Technologies Ltd.: Exhibit 99.2 - Filed by newsfilecorp.com

CHANGE OF STATUS REPORT

NOTICE PURSUANT TO SECTION 11.2 OF

NATIONAL INSTRUMENT 51-102 - CONTINUOUS DISCLOSURE OBLIGATIONS

TO: British Columbia Securities Commission
   
AND TO: The securities regulatory authorities in each of the provinces and territories of Canada
   
RE: HIVE Blockchain Technologies Ltd (the "Issuer") - Change of Status Report
   

On July 1, 2021, the Issuer's common shares commenced trading on The Nasdaq Stock Market operated by Nasdaq, Inc. under the trading symbol "HIVE". As a result, on July 1, 2021, the Issuer ceased to be a "venture issuer" within the meaning ascribed to that term under National Instrument 51-102 - Continuous Disclosure Obligations.

 

Dated this 16th day of February, 2022.

HIVE Blockchain Technologies Ltd

Per:    "Darcy Daubaras"                                                                        

            Name: Darcy Daubaras

            Title: Chief Financial Officer


EX-99.3 4 exhibit99-3.htm EXHIBIT 99.3 HIVE Blockchain Technologies Ltd.: Exhibit 99.3 - Filed by newsfilecorp.com

HIVE Blockchain Announces Landmark Deal to Buy New High Performing ASIC Chips From Intel and a 100 MW Renewable Energy Deal in Texas

This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated February 2, 2021 to its amended and restated short form base shelf prospectus dated January 4, 2022.

Vancouver, British Columbia--(Newsfile Corp. - March 7, 2022) - HIVE Blockchain Technologies Ltd. (TSXV: HIVE) (Nasdaq: HIVE) (FSE: HBF) (the "Company" or "HIVE") is pleased to make two major announcements today.

We are announcing a supply agreement with Intel Corporation (Nasdaq: INTC) ("Intel") to purchase new high performing ASIC chips that will be incorporated into state-of-the-art mining equipment that will be custom built for HIVE.

We also are announcing that HIVE has entered into a letter of intent with Compute North LLC ("Compute North") to host 100 megawatt ("MW") of mining capacity in one of their new Texas renewable energy data centre facilities. This facility would be our first mining operation in the United States.

Intel Supply Agreement

Frank Holmes, the Executive Chairman said he is thrilled to see the HIVE executive team work together to strategically position the Company to expand into the US with two significant deals. First, HIVE has entered into a Supply Agreement with Intel which is one of the world's largest semiconductor manufacturers, for their upcoming blockchain accelerator.

The Company has also entered into a manufacturing agreement with an ODM (original design manufacturer) that has expertise in electronics manufacturing. The ODM will integrate Intel's blockchain accelerators into an air-cooled Bitcoin mining system. HIVE's engineering team will draw on its expertise in hardware and software implementation and will work closely with Intel and the ODM partner on the systems integration. These miners are expected to be delivered over a period of one year starting in the second half of calendar 2022, the effect of which, if they are all installed, would be an expected increase of up to 95% in our aggregate Bitcoin mining hashrate from 1.9 Exahash per second.

Aydin Kilic President & COO of HIVE said, "After months of careful planning, we are very excited to take this step forward with a global technology leader like Intel. HIVE is committed to implementing these next-generation blockchain accelerators in its green energy infrastructure." Mr. Kilic continued, "This Intel Supply Agreement coupled with the ODM manufacturing agreement creates a pathway from chip production to an ASIC miner that sets us apart from our competitors."

Mr. Kilic noted "Intel's energy-efficient and high performance blockchain accelerator is expected to reduce our power consumption over current ASIC miners on the market. HIVE will participate in the system development process from design verification, through to the prototype stages, and then factory & test engineering regimens to arrive at a production model; we are well-positioned and excited to undertake the process ahead."


HIVE's vision is to be a technology leader in the crypto-mining space, pushing the envelope in research and development initiatives, paired with hashrate analytics, to optimize efficiency of our operations and maximize return on invested capital."

Frank Holmes, Executive Chairman of HIVE, added: "We are very excited to be working with Intel, a North American-based semiconductor manufacturer. This supply agreement represents another milestone in the journey of the Company. In the past year HIVE has been strategically evaluating its path forward for growth in the market and we are very pleased to expand our Bitcoin mining program with Intel solutions. Intel's commitment to challenging the status quo and commitment to energy efficient products aligns very well with our ESG and clean energy commitment."

100 MW of Renewable Energy in Texas

HIVE is also pleased to announce it has entered into a non-binding Letter of Intent ("LOI") with Compute North. Compute North, the industry leader in sustainable, large-scale computing infrastructure is rapidly expanding its footprint with the development of numerous new facilities in the United States. Led by a management team with deep experience in technology, finance and energy, Kyle Wenzel, CCO of Compute North commented, "Our team is proud to be working to accelerate the energy transition and evolve the data centre market to create an efficient platform for computing needs." With a proven track record of being one of the largest crypto-mining infrastructure developers in North America, HIVE is very pleased to take this formative step forward with Compute North.

Frank Holmes stated "Compute North has done an exemplary job of putting the US on the global stage as a reliable and scalable energy market for crypto-miners. Furthermore, their team shares the same commitment to using renewable energy that HIVE has adhered to since its listing as the world's first publicly traded crypto-miner."

Accordingly, the Company is planning for a 100 MW deployment at one of Compute North's renewable energy campuses in Texas. Further details will be announced. Completion of the transactions contemplated by the LOI are subject to receipt of all regulatory approvals including the approval of the TSX Venture Exchange.

The Letter of Intent constitutes a "related party transaction", as such term is defined in Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") as Dave Perrill is a director and officer of ComputeNorth and a director of HIVE. HIVE is relying on exemptions from the formal valuation and minority shareholder approval requirements provided under MI 61-101 on the basis that the Letter of Intent does not exceed 25% of the fair market value of the Company's market capitalization.

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.

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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-Looking Information

Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes, but is not limited to, business goals and objectives of the Company; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.

Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the volatility of the digital currency market; the Company's ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company's operations; the volatility of digital currency prices; continued effects of the COVID-19 pandemic may have a material adverse effect on the Company's performance as supply chains are disrupted and prevent the Company from carrying out its expansion plans or operating its assets; the Company may not be able to complete its responsibilities under the Intel Supply Agreement or the manufacturing agreement with the OEM; the Company may not receive regulatory or other approvals necessary under the LOI; the Company may not be able to complete its requirements under the LOI; and other related risks as more fully set out in the registration statement of Company and other documents disclosed under the Company's filings at www.sec.gov/EDGAR and www.sedar.com.

The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's objectives, goals or future plans, the timing thereof and related matters. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.


To view the source version of this press release, please visit

https://www.newsfilecorp.com/release/115795


EX-99.4 5 exhibit99-4.htm EXHIBIT 99.4 HIVE Blockchain Technologies Ltd.: Exhibit 99.4 - Filed by newsfilecorp.com

FORM 51-102F3

Material Change Report

Item 1 Name and Address of Company

HIVE Blockchain Technologies Ltd.

# 855 - 789 Pender Street
Vancouver, BC V6C 1H2

Item 2 Date of Material Change

March 7, 2022.

Item 3 News Release

The press release attached as Schedule "A" was disseminated on March 7, 2022.

Item 4 Summary of Material Change

The material change is described in the press release attached as Schedule "A".

Item 5 Full Description of Material Change

The material change is described in the press release attached as Schedule "A".

Item 6 Reliance on subsection 7.1(2) of National Instrument 51-102

Not applicable.

Item 7 Omitted Information

Not applicable.

Schedule "A"

Item 8 Executive Officer

Inquiries in respect of the material change referred to herein may be made to Darcy Daubaras, Chief Financial Officer, T: 604-664-1078

Item 9 Date of Report

March 7, 2022.


Schedule "A"

HIVE BLOCKCHAIN TECHNOLOGIES LTD.

March 7, 2022

HIVE Blockchain Announces Landmark Deal to Buy New High Performing
ASIC Chips From Intel and a 100 MW Renewable Energy deal in Texas

This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated February 2, 2021 to its amended and restated short form base shelf prospectus dated January 4, 2022.

Vancouver, Canada - HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (Nasdaq:HIVE) (FSE:HBF) (the "Company" or "HIVE") is pleased to make two major announcements today.

We are announcing a supply agreement with Intel Corporation (Nasdaq:INTC) ("Intel") to purchase new high performing ASIC chips that will be incorporated into state-of-the-art mining equipment that will be custom built for HIVE.

We also are announcing that HIVE has entered into a letter of intent with Compute North LLC ("Compute North") to host 100 megawatt ("MW") of mining capacity in one of their new Texas renewable energy data centre facilities. This facility would be our first mining operation in the United States.

Intel Supply Agreement

Frank Holmes, the Executive Chairman said he is thrilled to see the HIVE executive team work together to strategically position the Company to expand into the US with two significant deals. First, HIVE has entered into a Supply Agreement with Intel which is one of the world's largest semiconductor manufacturers, for their upcoming blockchain accelerator.

The Company has also entered into a manufacturing agreement with an ODM (original design manufacturer) that has expertise in electronics manufacturing. The ODM will integrate Intel's blockchain accelerators into an air-cooled Bitcoin mining system. HIVE's engineering team will draw on its expertise in hardware and software implementation and will work closely with Intel and the ODM partner on the systems integration. These miners are expected to be delivered over a period of one year starting in the second half of calendar 2022, the effect of which, if they are all installed, would be an expected increase of up to 95% in our aggregate Bitcoin mining hashrate from 1.9 Exahash per second.

Aydin Kilic President & COO of HIVE said, "After months of careful planning, we are very excited to take this step forward with a global technology leader like Intel. HIVE is committed to implementing these next-generation blockchain accelerators in its green energy infrastructure." Mr. Kilic continued, "This Intel Supply Agreement coupled with the ODM manufacturing agreement creates a pathway from chip production to an ASIC miner that sets us apart from our competitors."

Mr. Kilic noted "Intel's energy-efficient and high performance blockchain accelerator is expected to reduce our power consumption over current ASIC miners on the market. HIVE will participate in the system development process from design verification, through to the prototype stages, and then factory & test engineering regimens to arrive at a production model; we are well-positioned and excited to undertake the process ahead."


HIVE's vision is to be a technology leader in the crypto-mining space, pushing the envelope in research and development initiatives, paired with hashrate analytics, to optimize efficiency of our operations and maximize return on invested capital."

Frank Holmes, Executive Chairman of HIVE, added: "We are very excited to be working with Intel, a North American-based semiconductor manufacturer. This supply agreement represents another milestone in the journey of the Company. In the past year HIVE has been strategically evaluating its path forward for growth in the market and we are very pleased to expand our Bitcoin mining program with Intel solutions. Intel's commitment to challenging the status quo and commitment to energy efficient products aligns very well with our ESG and clean energy commitment."

100 MW of Renewable Energy in Texas

HIVE is also pleased to announce it has entered into a non-binding Letter of Intent ("LOI") with Compute North. Compute North, the industry leader in sustainable, large-scale computing infrastructure is rapidly expanding its footprint with the development of numerous new facilities in the United States. Led by a management team with deep experience in technology, finance and energy, Kyle Wenzel, CCO of Compute North commented, "Our team is proud to be working to accelerate the energy transition and evolve the data centre market to create an efficient platform for computing needs." With a proven track record of being one of the largest crypto-mining infrastructure developers in North America, HIVE is very pleased to take this formative step forward with Compute North.

Frank Holmes stated "Compute North has done an exemplary job of putting the US on the global stage as a reliable and scalable energy market for crypto-miners. Furthermore, their team shares the same commitment to using renewable energy that HIVE has adhered to since its listing as the world's first publicly traded crypto-miner."

Accordingly, the Company is planning for a 100 MW deployment at one of Compute North's renewable energy campuses in Texas. Further details will be announced. Completion of the transactions contemplated by the LOI are subject to receipt of all regulatory approvals including the approval of the TSX Venture Exchange.

The Letter of Intent constitutes a "related party transaction", as such term is defined in Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") as Dave Perrill is a director and officer of ComputeNorth and a director of HIVE. HIVE is relying on exemptions from the formal valuation and minority shareholder approval requirements provided under MI 61-101 on the basis that the Letter of Intent does not exceed 25% of the fair market value of the Company's market capitalization.

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.


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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release

Forward-Looking Information

Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes, but is not limited to, business goals and objectives of the Company; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.

Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the volatility of the digital currency market; the Company's ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company's operations; the volatility of digital currency prices; continued effects of the COVID-19 pandemic may have a material adverse effect on the Company's performance as supply chains are disrupted and prevent the Company from carrying out its expansion plans or operating its assets; the Company may not be able to complete its responsibilities under the Intel Supply Agreement or the manufacturing agreement with the OEM; the Company may not receive regulatory or other approvals necessary under the LOI; the Company may not be able to complete its requirements under the LOI; and other related risks as more fully set out in the registration statement of Company and other documents disclosed under the Company's filings at www.sec.gov/EDGAR and www.sedar.com.

The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's objectives, goals or future plans, the timing thereof and related matters. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.


EX-99.5 6 exhibit99-5.htm EXHIBIT 99.5 HIVE Blockchain Technologies Ltd.: Exhibit 99.5 - Filed by newsfilecorp.com

HIVE Blockchain Provides Update on February 2022 Production and At-The-Market Offering and Conclusion of Canadian At-The-Market Offering

This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated February 2, 2021 to its amended and restated short form base shelf prospectus dated January 4, 2022.

Vancouver, British Columbia--(Newsfile Corp. - March 8, 2022) - HIVE Blockchain Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: HBF) (the "Company" or "HIVE") is pleased to announce the production figures from the Company's global Bitcoin and Ethereum mining operations for the month of February 2022, with a BTC HODL balance of 2,374 Bitcoin as of February 28, 2022. The Company is also providing an update on its at-the-market offering, and conclusion of the Canadian at-the-market agreement.

To clarify the Company's recent press release of March 7, 2022, our planned 100 megawatt Texas facilities with Compute North could operate up to 4.0 Exahash per second of new generation ASIC miners.

February 2022 Production Figures

HIVE is pleased to announce its February 2022 production figures and mining capacity:

  • 244.4 BTC Produced
  • 1.9 Exahash of Bitcoin mining capacity
  • 1,814 ETH Produced
  • Increased Ethereum mining capacity from 4.56 to 4.88 Terahash during February HODL position grows to 2,374 BTC

Frank Holmes, Executive Chairman of HIVE stated, "We are pleased to report HIVE has maintained its strong Bitcoin hashing power through the month of February even as the network difficulty rose. In February we produced an average of 8.7 BTC per day, and note that as of today, we are producing approximately 8.8 BTC a day."

Aydin Kilic, President & COO of HIVE noted, "We continue to strive for operational excellence, ensuring that as we scale our hashrate as a company we also optimize our uptime, to ensure ideal Bitcoin and Ethereum output figures. Mr. Kilic continued, "We also would like to provide an update on the BTC and ETH equivalency, where one can equate value of the coins produced daily. As such the ETH that HIVE produced during the month of February, equated on a daily basis, is approximately equal to a monthly total of 132.6 BTC, which we refer to as Bitcoin equivalent or BTC equivalent. This is in addition to the 244.4 BTC produced from our Bitcoin mining operations during February, for a total of 377.1 Bitcoin equivalent."

The Company's total Bitcoin equivalent production in February 2022 was:

  • 377.1 BTC Equivalent Produced
  • 13.5 BTC Equivalent produced per day on average

  • 2.84 Exahash of BTC Equivalent Hashrate (BTC hashrate plus equivalent ETH Hashrate as of February 28)

Update on Network Mining Difficulty and Winter Energy Markets

The Bitcoin network difficulty increased as much as 5% and similarly the Ethereum network difficulty was stable during the month of February. These factors impact our gross profit margins.

For the second consecutive month, in February our production would have been slightly higher than actuals, if not for the continuing curtailment of energy during the month under our agreement with Quebec Hydro. This seasonal curtailment continued to affect numerous crypto-mining companies operating in Quebec, along with HIVE. In addition, in New Brunswick we continued to experience, as expected, a temporary seasonal rise in energy prices.

At-the-Market Offering

Pursuant to the ATM Equity Program, as required pursuant to National Instrument 44-102 - Shelf Distributions and the policies of the TSX Venture Exchange ("TSXV"), the Company announces that, during its third quarter ended December 30, 2021, it has issued an aggregate of 3,513,500 common shares (the "ATM Shares") over the TSX-V, for aggregate gross proceeds to the Company of C$15,120,113. The ATM Shares were sold at prevailing market prices, for an average price per ATM Share of C$4.30. Pursuant to the Equity Distribution Agreement associated with the ATM Equity Program (the "EDA"), a cash commission of US$365,028 on the aggregate gross proceeds raised was paid to the agent in connection with its services under the EDA during the third quarter ended December 30, 2021.

Pursuant to the EDA, the Company may, from time to time, sell up to US$100 million of common shares in the capital of the Company. The Company intends to use the net proceeds of the ATM Equity Program, if any, principally for general corporate and working capital requirements, funding ongoing operations, to repay indebtedness outstanding from time to time, to complete future acquisitions, or for other corporate purposes.

This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States or in any jurisdiction where the offer, sale or solicitation would be unlawful. The Common Shares referred to in this news release may not be offered or sold in the United States absent registration or an applicable exemption from registration.

Conclusion of At-the-Market Offering

HIVE announces conclusion of its previously announced "at-the-market" equity offering program (the "ATM Program") with Canaccord Genuity Corp. as sole agent. The termination of the ATM Program is effective as of March 8, 2022. The ATM Program was established on February 2, 2021, allowing the Company to issue and sell up to US$100 million aggregate amount of common shares of the Company to the public from time to time, at the Company's discretion. As of the date of this announcement, HIVE has sold 27,236,000 common shares under the ATM Program for aggregate gross proceeds of US$99,499,217.

Darcy Daubaras, CFO of HIVE said, "I would like to thank Canaccord and especially their traders for doing an excellent job on our Canadian ATM offering over the past year. Though their assistance and dedication we were able to work together to raise funds at an average share price which is above current market prices." Mr. Daubaras continued, "We are looking forward to an ongoing relationship with Canaccord who are seen as leaders in the Canadian marketplace."

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.

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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-Looking Information

Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes, but is not limited to, business goals and objectives of the Company; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.

Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the volatility of the digital currency market; the Company's ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company's operations; the volatility of digital currency prices; seasonal curtailment and increase in the cost of electricity; continued effects of the COVID-19 pandemic may have a material adverse effect on the Company's performance as supply chains are disrupted and prevent the Company from carrying out its expansion plans or operating its assets; and other related risks as more fully set out in the registration statement of Company and other documents disclosed under the Company's filings at www.sec.gov/EDGAR and www.sedar.com.


The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's objectives, goals or future plans, the timing thereof and related matters. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/115958


EX-99.6 7 exhibit99-6.htm EXHIBIT 99.6 HIVE Blockchain Technologies Ltd.: Exhibit 99.6 - Filed by newsfilecorp.com

Form 51-102F3
Material Change Report


Item 1 Name and Address of Company
   
  HIVE Blockchain Technologies Inc. ("HIVE" or the "Company")
  Suite 855, 789 West Pender Street
  Vancouver, BC V6C 1H2
   
Item 2 Date of Material Change
   
  March 8, 2022
   
Item 3 News Release
   
  The news release reporting the material change was issued by HIVE and disseminated through a newswire company in Canada on March 8, 2022 and subsequently filed on SEDAR at www.sedar.com.
   
Item 4 Summary of Material Change
   
  On March 8, 2022, the Company announced the production figures from its global Bitcoin and Ethereum mining operations for the month of February 2022, with a BTC HODL balance of 2,374 Bitcoin as of February 28, 2022.
   
Item 5 Full Description of Material Change
   
Item 5.1 Full Description of Material Change
   
  Please see the attached news release dated March 8, 2022.
   
Item 5.2 Disclosure for Restructuring Transactions
   
  Not applicable.
   
Item 6 Reliance on subsection 7.1(2) of National Instrument 51-102
   
  Not applicable.
   
Item 7 Omitted Information
   
  Not applicable.
   
Item 8 Executive Officer
   
  Darcy Daubaras Chief Financial Officer
  Telephone: 604-664-1078
   
Item 9 Date of Report
   
  March 8, 2022


HIVE BLOCKCHAIN TECHNOLOGIES LTD.

March 8, 2022

HIVE Blockchain Provides Update on February 2022 Production and At-
The-Market Offering and Conclusion of Canadian At-The-Market Offering

This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated February 2, 2021 to its amended and restated short form base shelf prospectus dated January 4, 2022.

Vancouver, Canada - HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (Nasdaq:HIVE) (FSE:HBF) (the "Company" or "HIVE") is pleased to announce the production figures from the Company's global Bitcoin and Ethereum mining operations for the month of February 2022, with a BTC HODL balance of 2,374 Bitcoin as of February 28, 2022. The Company is also providing an update on its at-the-market offering, and conclusion of the Canadian at-the-market agreement.

To clarify the Company's recent press release of March 7, 2022, our planned 100 megawatt Texas facilities with Compute North could operate up to 4.0 Exahash per second of new generation ASIC miners.

February 2022 Production Figures

HIVE is pleased to announce its February 2022 production figures and mining capacity:

 244.4 BTC Produced

 1.9 Exahash of Bitcoin mining capacity

 1,814 ETH Produced

 Increased Ethereum mining capacity from 4.56 to 4.88 Terahash during February

 HODL position grows to 2,374 BTC

Frank Holmes, Executive Chairman of HIVE stated "We are pleased to report HIVE has maintained its strong Bitcoin hashing power through the month of February even as the network difficulty rose. In February we produced an average of 8.7 BTC per day, and note that as of today, we are producing approximately 8.8 BTC a day."

Aydin Kilic, President & COO of HIVE noted "We continue to strive for operational excellence, ensuring that as we scale our hashrate as a company we also optimize our uptime, to ensure ideal Bitcoin and Ethereum output figures. Mr. Kilic continued, "We also would like to provide an update on the BTC and ETH equivalency, where one can equate value of the coins produced daily. As such the ETH that HIVE produced during the month of February, equated on a daily basis, is approximately equal to a monthly total of 132.6 BTC, which we refer to as Bitcoin equivalent or BTC equivalent. This is in addition to the 244.4 BTC produced from our Bitcoin mining operations during February, for a total of 377.1 Bitcoin equivalent"

The Company's total Bitcoin equivalent production in February 2022 was:

 377.1 BTC Equivalent Produced

 13.5 BTC Equivalent produced per day on average

 2.84 Exahash of BTC Equivalent Hashrate (BTC hashrate plus equivalent ETH Hashrate as of Feb 28)


Update on Network Mining Difficulty and Winter Energy Markets

The Bitcoin network difficulty increased as much as 5% and similarly the Ethereum network difficulty was stable during the month of February. These factors impact our gross profit margins.

For the second consecutive month, in February our production would have been slightly higher than actuals, if not for the continuing curtailment of energy during the month under our agreement with Quebec Hydro. This seasonal curtailment continued to affect numerous crypto-mining companies operating in Quebec, along with HIVE. In addition, in New Brunswick we continued to experience, as expected, a temporary seasonal rise in energy prices.

At-the-Market Offering

Pursuant to the ATM Equity Program, as required pursuant to National Instrument 44-102 - Shelf Distributions and the policies of the TSX Venture Exchange ("TSXV"), the Company announces that, during its third quarter ended December 30, 2021, it has issued an aggregate of 3,513,500 common shares (the "ATM Shares") over the TSX-V, for aggregate gross proceeds to the Company of C$15,120,113. The ATM Shares were sold at prevailing market prices, for an average price per ATM Share of C$4.30. Pursuant to the Equity Distribution Agreement associated with the ATM Equity Program (the "EDA"), a cash commission of US$365,028 on the aggregate gross proceeds raised was paid to the agent in connection with its services under the EDA during the third quarter ended December 30, 2021.

Pursuant to the EDA, the Company may, from time to time, sell up to US$100 million of common shares in the capital of the Company. The Company intends to use the net proceeds of the ATM Equity Program, if any, principally for general corporate and working capital requirements, funding ongoing operations, to repay indebtedness outstanding from time to time, to complete future acquisitions, or for other corporate purposes.

This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States or in any jurisdiction where the offer, sale or solicitation would be unlawful. The Common Shares referred to in this news release may not be offered or sold in the United States absent registration or an applicable exemption from registration.

Conclusion of At-the-Market Offering

HIVE announces conclusion of its previously announced "at-the-market" equity offering program (the "ATM Program") with Canaccord Genuity Corp. as sole agent. The termination of the ATM Program is effective as of March 8, 2022. The ATM Program was established on February 2, 2021, allowing the Company to issue and sell up to US$100 million aggregate amount of common shares of the Company to the public from time to time, at the Company's discretion. As of the date of this announcement, HIVE has sold 27,236,000 common shares under the ATM Program for aggregate gross proceeds of US$99,499,217.

Darcy Daubaras, CFO of HIVE said, "I would like to thank Canaccord and especially their traders for doing an excellent job on our Canadian ATM offering over the past year. Though their assistance and dedication we were able to work together to raise funds at an average share price which is above current market prices." Mr. Daubaras continued, "We are looking forward to an ongoing relationship with Canaccord who are seen as leaders in the Canadian marketplace,"

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.


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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release

Forward-Looking Information

Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes, but is not limited to, business goals and objectives of the Company; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.

Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the volatility of the digital currency market; the Company's ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company's operations; the volatility of digital currency prices; seasonal curtailment and increase in the cost of electricity; continued effects of the COVID-19 pandemic may have a material adverse effect on the Company's performance as supply chains are disrupted and prevent the Company from carrying out its expansion plans or operating its assets; and other related risks as more fully set out in the registration statement of Company and other documents disclosed under the Company's filings at www.sec.gov/EDGAR and www.sedar.com.

The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's objectives, goals or future plans, the timing thereof and related matters. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.


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