IT News Online – HIVE Completes Share Investment in DeFi Technologies

This information launch constitutes a “designated information launch” for the needs of the Company’s prospectus complement dated February 2, 2021 to its quick kind base shelf prospectus dated January 27, 2021.

VANCOUVER, BC / ACCESSWIRE / April 21, 2021 / HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (OTCQX:HVBTF) (FSE:HBF) (the “Company” or “HIVE”) is happy to announce that, additional to its announcement on March 25, 2021, it has accomplished the share swap transaction (the “Transaction”) with DeFi Technologies Inc. (NEO:DEFI, GR:RMJR, OTC: RDNAF) (“DeFi Technologies”), pursuant to which HIVE will obtain 10,000,000 widespread shares of DeFi Technologies, representing roughly 5% of the present excellent widespread shares of DeFi Technologies in alternate for 4,000,000 widespread shares of the Company, representing roughly 1% of the Company’s issued and excellent widespread shares. Completion of the transaction is conditional on the approval of the TSX Venture Exchange. In addition, HIVE and DeFi Technologies have created a partnership surrounding the “decentralized finance” (DeFi) ecosystem with particular functions round Ethereum and Miner Extractable Value (MEV). The new partnership, which follows months of discussions, will present HIVE with a strategic stake in DeFi Technologies and a broader partnership surrounding the DeFi ecosystem with a particular give attention to the Ethereum primarily based MEV house and developments surrounding it.

The increase in Ethereum has 3 highly effective drivers, and DeFi has been a considerable a part of the extra charges HIVE has obtained for mining Ethereum on the cloud. The different are Stablecoins and extra not too long ago non-fungible tokens or NFT’s. We imagine DeFi is probably the most vital demand driver and our funding in DeFi Technologies offers our shareholders a double profit.

MEV refers back to the quantity of revenue miners can extract from reordering and censoring transactions on the blockchain. It has change into an necessary subject over the previous yr because the DeFi house has grown from US$3B to US$71B in market capitalization. Of the $347.3M of Extracted MEV, 88% comes from DeFi actions. As will be seen from knowledge by Coin Metrics, over half of all ETH miner income presently comes from transaction charges. By partnering collectively to tackle these actions, people get a extra capital environment friendly market to play in, whereas distributing better returns to miners for appearing extra altruistic.

About HIVE Blockchain Technologies Ltd.

About DeFi Technologies Inc.

For extra data and to register to HIVE’s mailing listing, please go to 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 additional data please contact:

Frank Holmes

Tel: (604) 664-1078

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that time period is outlined in insurance policies of the TSX Venture Exchange) accepts accountability for the adequacy or accuracy of this information launch.

Forward-Looking Information

Except for the statements of historic truth, this information launch incorporates “ahead-trying data” throughout the which means of the relevant Canadian securities laws that’s primarily based on expectations, estimates and projections as on the date of this information launch. “Forward-looking data” in this information launch consists of details about the end result of the strategic partnership with DeFi Technologies, the potential progress of decentralized finance, potential for the Company’s lengthy-time period progress, and the enterprise objectives and goals of the Company.

Factors that would trigger precise outcomes to vary materially from these described in such ahead-trying data embody, however are usually not restricted to, if the strategic partnership with DeFi Technologies shouldn’t be as profitable because the Company hopes that will probably be; decentralized finance doesn’t change into as broadly adopted as anticipated; the expansion in decentralized finance doesn’t happen; the digital foreign money market; the Company’s capacity to efficiently mine digital foreign money; the Company could not be capable to profitably liquidate its present digital foreign money stock, or in any respect; a decline in digital foreign money costs could have a major damaging affect on the Company’s operations; the volatility of digital foreign money costs; and different associated dangers as extra totally set out in the Filing Statement of the Company and different paperwork disclosed underneath the Company’s filings at www.sedar.com.

The ahead-trying data in this information launch displays the present expectations, assumptions and/or beliefs of the Company primarily based on data presently obtainable to the Company. In reference to the ahead-trying data contained in this information launch, the Company has made assumptions concerning the present profitability in mining cryptocurrency (together with pricing and quantity of present transaction exercise); worthwhile use of the Company’s belongings going ahead; the Company’s capacity to profitably liquidate its digital foreign money stock as required; historic costs of digital currencies and the power of the Company to mine digital currencies shall be according to historic costs; and there shall be no regulation or regulation that can forestall the Company from working its enterprise. The Company has additionally assumed that no vital occasions happen outdoors of the Company’s regular course of enterprise. Although the Company believes that the assumptions inherent in the ahead-trying data are cheap, ahead-trying data shouldn’t be a assure of future efficiency and accordingly undue reliance shouldn’t be placed on such data because of the inherent uncertainty therein.

SOURCE: Hive Blockchain Technologies Ltd