This press release constitutes a “designated press 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, British Columbia – (Newsfile Corp. – September 10, 2021) – HIVE Blockchain Technologies Ltd. (TSXV: HIVE) (NASDAQ: HVBT) (FSE: HBF) (the “Society” Where “HIVE“) is pleased to announce that it has ordered 2,292 M30S + Premium MicroBT WhatsMiners with a total hash rate of 229 Petahash per second (PH / s), with an average efficiency of approximately 34 Watts per Terahash (W / TH) .The Company notes that 229 PH / s would generate around 52 Bitcoin per month based on current difficulty levels.
HIVE is proud to continue its relationship with MicroBT by purchasing 2,292 M30S + WhatsMiner miners. These 2,292 miners will be delivered in 6 equal installments of 382 miners during the 2022 schedule starting in July and ending in December. This will increase our overall hash rate by 38.2 PH / s each month of delivery.
Frank Holmes, Executive Chairman of HIVE, said: “We only use green energy from geothermal and hydroelectric power to mine our Bitcoins, so we don’t need to buy expensive carbon credits. .
This purchase brings the total to 5,292 MicroBT miners with a total mining capacity of 523 PH / s announced this week. We will continue our strategy of increasing our Bitcoin mining capacity, which includes sourcing mining equipment from leading industry manufacturers such as MicroBT. HIVE intends to continue using cash flow to make opportunistic investments and upgrade our fleet of BTC and ETH mining equipment on a regular monthly basis.
Bi-weekly status update
HIVE also announces that it expects to file its annual financial statements and related MD&A for the fiscal year ended March 31, 2021 (collectively, the “Annual Statements”), no later than September 16, 2021. Due to the delayed annual filings, the Company will be late in filing its interim financial statements, management report and related certificates for the period ended June 30, 2021 (“interim filings”), the filing deadline of which is the month August 30, 2021. HIVE will continue to provide bi-weekly status updates on the late filing of its annual filings and interim filings. This means that the board of directors and management are in a blackout period and cannot trade the shares until the annual documents and interim documents have been filed.
HIVE management confirms that it is working diligently to meet the Company’s obligations with respect to its annual returns and that, since announcing a delay in its annual returns (the “Filing Notice”), it has not there is no material change in the information in the Opinions statements that has not been generally disclosed and that the Company has not failed in its stated intentions with respect to complying with the provisions of the Disclosure Guidelines alternatives set out in AP 12-203. Although subject to MCTO, the Company will continue to comply with the provisions of the Alternative Disclosure Guidelines under PA 12-203 by issuing progress reports every two weeks until it has met the necessary deposit requirements.
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 technology stock focused on growth in the emerging blockchain industry. As a company whose shares are traded on a major exchange, we are building a bridge between the digital currency and blockchain industry and traditional capital markets. HIVE has state-of-the-art green power-powered data center facilities in Canada, Sweden and Iceland, where we source only green power to mine from the cloud and HODL from both Ethereum and Bitcoin. Since the start of 2021, HIVE has held the majority of its ETH and BTC coin mining rewards in secure storage. Our stocks provide investors with exposure to operating margins from digital currency mining, as well as a portfolio of cryptocurrencies such as ETH and BTC. Because HIVE also owns durable assets such as data centers and advanced multi-purpose servers, we believe our stocks provide an attractive way for investors to gain exposure to the cryptocurrency space. HIVE traded over 2 billion shares in 2020.
We encourage you to visit the HIVE YouTube channel here to learn more about HIVE.
For more information and to subscribe to the HIVE mailing list, please visit www.HIVEblockchain.com. Follow @HIVEblockchain on Twitter and subscribe to the HIVE YouTube channel.
On behalf of HIVE Blockchain Technologies Ltd.
For more information please contact:
Phone. : (604) 664-1078
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Except for statements of historical fact, this press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation which is based on expectations, estimates and projections as of the date of this press release. hurry. “Forward-looking information” in this press release includes, without limitation, statements regarding information regarding the proposed purchase of equipment from MicroBT, including the potential increase in hash power, the potential to long-term growth of the Company, the 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 conditions therein.
Factors that could cause actual results to differ materially from those described in this forward-looking information include, but are not limited to: volatility in the digital currency market; the Company’s ability to successfully mine digital currency; the timely delivery of MicroBT’s equipment and the Company’s ability to operate the equipment on an economical basis or not at all; the Company may not be able to profitably liquidate its current digital currency inventory as required, or not at all; a significant drop in the prices of digital currencies may have a material negative impact on the operations of the Company; the price volatility of digital currencies; the 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 completing its expansion plans or operating its assets ; and other related risks as further described in the Company’s registration statement and other documents disclosed in documents filed by the Company at www.sec.gov/EDGAR and www.sedar.com.
The forward-looking information contained in this press release reflects the Company’s current expectations, assumptions and / or beliefs based on information currently available to the Company. In connection with the forward-looking information contained in this press release, the company has made assumptions about the ability of the company to complete and file annual documents. The Company also assumed that no material event occurred outside the normal course of the Company’s business. Although the Company believes that the assumptions inherent in forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and, therefore, one should not place undue reliance on such information due to the uncertainty inherent in such information. -this.
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