This information launch constitutes a “designated information launch” for the needs of the Company’s prospectus complement dated February 2, 2021 to its brief type base shelf prospectus dated January 27, 2021
Vancouver, British Columbia–(Newsfile Corp. – September 8, 2021) – HIVE Blockchain Technologies Ltd. (TSXV: HIVE) (NASDAQ: HVBT) (FSE: HBF) (the “Company” or “HIVE“) is happy to announce that it has ordered 3,000 premium MicroBT WhatsMiners with a complete hashrate of 294 Petahash per second (PH/s), with a median effectivity of roughly 34 Watts per Terahash (W/TH), moreover the Company now has HODL over 1,000 Bitcoins in its chilly wallets. The Company notes that 294 PH/s would generate roughly 67 Bitcoin monthly primarily based on present issue ranges.
Currently the Company has over 1 Exahash of Bitcoin mining capability working, which produces over 225 Bitcoin monthly on a run-rate foundation at present issue ranges. The Company believes the issue will proceed to rise.
Miner Purchase
HIVE is proud to proceed its relationship with MicroBT by the acquisition of 3,000 WhatsMiner miners which will probably be a mix of M30S, M30S+ and M30S++ machines. These 3,000 miners will probably be delivered in 12 equal tranches of 250 miners throughout calendar 2022 commencing in January and ending in December. This will enhance our world hash charge by 24.5 PH/s every month.
Frank Holmes, Executive Chairman of HIVE stated, “The persevering with work and success that our crew has been ready to obtain with our strategic companions throughout these difficult instances due to the worldwide shortages in chips and logistics delays in transport tools from Asia due to Covid 19 has been outstanding. As a end result, we’re ready to enhance our 2022 run-rate income by nearly 25% with this acquisition, whereas positioning HIVE to understand a great ROI on capital invested, by making ASIC acquisitions at very engaging $/TH costs, all in tempo with the event of our inexperienced and clear working infrastructure. We will not be saddled with needing to purchase carbon offsets which helps our margins as a result of we’re centered on mining purchase sourcing geothermal and hydroelectric vitality.”
These miner deliveries are a results of our persevering with technique to enhance our Bitcoin mining capability which incorporates the sourcing of mining tools from main trade producers like MicroBT. HIVE intends to proceed to make the most of money move to make opportunistic investments and improve our fleet of BTC and ETH mining tools on an everyday month-to-month foundation.
BTC HODL and Production Update
HIVE is worked up to announce that we at present maintain over 1,030 inexperienced and clear Bitcoins in chilly pockets custody. The Company is happy to present the next replace on its world BTC development in manufacturing for the present 2022 fiscal 12 months:
April 2021 – 64 BTC development
May 2021 – 73 BTC development
June 2021 – 86 BTC development
July 2021 – 200 BTC development
August 2021 – 234 BTC development
Review of Operations
Mr. Holmes continued, “I’ve simply travelled with Aydin Kilic our new President and Chief Operating Officer to tour our main Swedish services and scout different inexperienced vitality alternatives. Aydin additionally visited our operations and strategic companions in Iceland on his means again to Canada. We had very productive conferences with the group leaders in Boden and with the CEO’s for our strategic companions. We will probably be increasing our Swedish operations by 1 MW instantly in our present facility positioned in Boden.”
At-the-Market Offering
Pursuant to the ATM Equity Program, as required pursuant to National Instrument 44-102 – Shelf Distributions and the insurance policies of the TSX Venture Exchange (“TSXV”), the Company proclaims that, because the starting of this system on February 3, 2021 to its 12 months finish of March 31, 2021, it has issued an combination of 16,363,500 frequent shares (the “ATM Shares”) over the TSX-V, for combination gross proceeds to the Company of C$81,726,621. The ATM Shares have been offered at prevailing market costs, for a median worth per ATM Share of C$4.99. Pursuant to the Equity Distribution Agreement related to the ATM Equity Program (the “EDA”), a money fee of US$1,936,292 on the mixture gross proceeds raised was paid to the agent in reference to its companies beneath the EDA to March 31, 2021.
Pursuant to the ATM Equity Program, as required pursuant to National Instrument 44-102 – Shelf Distributions and the insurance policies of the TSX Venture Exchange (“TSXV”), the Company proclaims that, , because the starting of this system on February 3, 2021 to its first quarter ended June 30, 2021, it has issued an combination of 18,741,900 frequent shares (the “ATM Shares”) over the TSX-V, for combination gross proceeds to the Company of C$91,033,090 The ATM Shares have been offered at prevailing market costs, for a median worth per ATM Share of C$4.83. Pursuant to the Equity Distribution Agreement related to the ATM Equity Program (the “EDA”), a money fee of US$2,162,919.86 on the mixture gross proceeds raised was paid to the agent in reference to its companies beneath the EDA to June 30, 2021.
Pursuant to the EDA, the Company might, from time to time, promote up to US$100 million of frequent shares within the capital of the Company. The Company intends to use the online proceeds of the ATM Equity Program, if any, principally for normal company and working capital necessities, funding ongoing operations, to repay indebtedness excellent from time to time, to full future acquisitions, or for different company functions.
This information launch doesn’t represent a proposal to promote or the solicitation of a proposal to purchase securities within the United States or in any jurisdiction the place the supply, sale or solicitation can be illegal. The Common Shares referred to on this information launch will not be provided or offered within the United States absent registration or an relevant exemption from registration.
About HIVE Blockchain Technologies Ltd.
HIVE Blockchain Technologies Ltd. went public in 2017 as the primary cryptocurrency mining firm with a inexperienced vitality and ESG technique.
HIVE is a growth-oriented expertise inventory within the emergent blockchain trade. As an organization whose shares commerce on a significant inventory alternate, we’re constructing a bridge between the digital foreign money and blockchain sector and conventional capital markets. HIVE owns state-of-the-art, inexperienced energy-powered information centre services in Canada, Sweden, and Iceland, the place we supply solely inexperienced vitality to mine on the cloud and HODL each Ethereum and Bitcoin. Since the start of 2021, HIVE has held in safe storage the vast majority of its ETH and BTC coin mining rewards. Our shares present traders with publicity to the working margins of digital foreign money mining, in addition to a portfolio of cryptocurrencies equivalent to ETH and BTC. Because HIVE additionally owns onerous property equivalent to information facilities and superior multi-use servers, we imagine our shares supply traders a lovely means to achieve publicity to the cryptocurrency house. HIVE traded over 2 billion shares in 2020.
We encourage you to go to HIVE’s YouTube channel here to study extra about HIVE.
For extra info and to register to HIVE’s mailing checklist, 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 info 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 reality, this information launch comprises “forward-looking info” inside the that 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 info” on this information launch consists of, however is just not restricted to, statements with respect to details about the proposed buy of apparatus from MicroBT, together with the potential enhance in hashpower, the potential for the Company’s long-term development, enterprise objectives and goals of the Company, and different forward-looking info in regards to the intentions, plans and future actions of the events to the transactions described herein and the phrases thereon.
Factors that might trigger precise outcomes to differ materially from these described in such forward-looking info embrace, however will not be restricted to: the volatility of the digital foreign money market; the Company’s potential to efficiently mine digital foreign money; the well timed supply of apparatus from MicroBT and the Company’s potential to function the tools on an financial foundation or in any respect; the Company will not be ready to profitably liquidate its present digital foreign money stock as required, or in any respect; a cloth decline in digital foreign money costs might have a big damaging affect on the Company’s operations; the volatility of digital foreign money costs; continued results of the COVID-19 pandemic might have a cloth antagonistic impact on the Company’s efficiency as provide chains are disrupted and stop the Company from finishing up its growth plans or working its property; and different associated dangers as extra absolutely set out within the registration assertion of Company and different paperwork disclosed beneath the Company’s filings at www.sec.gov/EDGAR and www.sedar.com.
The forward-looking info on this information launch displays the present expectations, assumptions and/or beliefs of the Company primarily based on info at present obtainable to the Company. In reference to the forward-looking info contained on this information launch, the Company has made assumptions in regards to the Company’s potential to full and file the Annual Filings. The Company has additionally assumed that no important occasions happen outdoors of the Company’s regular course of enterprise. Although the Company believes that the assumptions inherent within the forward-looking info are cheap, forward-looking info is just not a assure of future efficiency and accordingly undue reliance shouldn’t be placed on such info due to the inherent uncertainty therein.
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