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Aiming to accelerate the development of the Blockchain sector, Genesis Mining partnered with Foire Group to go public and launch HIVE Blockchain in 2017. Establishing the largest listed blockchain infrastructure company, HIVE operates miners that power various types of cryptocurrency, providing the backbone for Blockchain use cases. The company has raised $115 million in funding to date.

Hive is a social network of apps and services, where users discover the capacity of blockchain technology, connect to the platform and securely share content through equitable redistribution of value. Thus, the users are the proprietors of the network, and sponsors can contact communities and artists directly without intermediaries.

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The decentralized blockchain is built on the Delegated Proof of Stake (DPoS) consensus mechanism. Delegates (or Witnesses) verify transactions and create new blocks on the blockchain on behalf of investors, namely 20 selected Witnesses create blocks randomly, and users can stop delegating at any time. In general, the procedure reduces the centralized control over the network.

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 endeavour to source green energy to mine digital assets such as Bitcoin on the cloud. Since the beginning of 2021, HIVE has held in secure storage the majority of its treasury of ETH and BTC derived from mining rewards. Our shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of Bitcoin. 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.

Vancouver, British Columbia--(Newsfile Corp. - July 6, 2023) - HIVE Blockchain Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: HBFA) (the Company" or "HIVE") a global leader in blockchain technology, today announces its intent to undergo a strategic rebranding including a name change to "HIVE Digital Technologies Ltd." (the "Name Change") to better reflect the Company's evolving expansion into fast tracking our HPC data centres by utilizing our Nvidia high performance Graphics Processing Unit ("GPU") chips for the mass adoption trend in Artificial Intelligence ("AI"). HIVE has been a pioneering force in the cryptocurrency mining sector since 2017. The intent of the name change signals a significant strategic expansion to harness the potential of our green energy data centres and of GPU Cloud compute technology, a vital tool in the world of AI, machine learning, and advanced data analysis since the launch of ChatGPT.

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 regulatory environment for cryptocurrency in Canada, the United States and the countries where our mining facilities are located; economic dependence on regulated terms of service and electricity rates; the speculative and competitive nature of the technology sector; dependency on continued growth in blockchain and cryptocurrency usage; lawsuits and other legal proceedings and challenges; government regulations; the global economic climate; dilution; future capital needs and uncertainty of additional financing, including the Company's ability to utilize the Company's at-the-market equity offering program (the "ATM Program") and the prices at which the Company may sell Common Shares in the ATM Program, as well as capital market conditions in general; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the effects of product development and need for continued technology change; the ability to maintain reliable and economical sources of power to run its cryptocurrency mining assets; the impact of energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; share dilution resulting from the ATM Program and from other equity issuances; the construction and operation of facilities may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of electricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power for the Company to operate cryptocurrency mining assets; the risks of an increase in the Company's electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and the adverse impact on the Company's profitability; the ability to complete current and future financings, any regulations or laws that will prevent the Company from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to the effects of COVID-19 on the price of digital currencies, capital market conditions, restriction on labour and international travel and supply chains; and, the adoption or expansion of any regulation or law that will prevent the Company from operating its business, or make it more costly to do so; and other related risks as more fully set out in the Company's disclosure documents under the Company's filings at www.sec.gov/EDGAR and www.sedar.com.

HIVE continues to execute on its aggressive growth strategy to maintain its position as a market leader in the blockchain infrastructure industry and is fully financed to build out and bring online the balance of the Sweden GPU Data Centre by April 2018 and the Sweden Bitcoin Data Centre by September 2018.

"HIVE and our strategic partners, Genesis, are leading the development of the infrastructure needed to power the expanding global blockchain ecosystem." said Frank Holmes, Chairman of HIVE Blockchain. Genesis' innovative hardware and software tools enable us to run highly efficient mining operations, which directly feeds into our annual revenues. We started HIVE with a vision to go from a revenue run rate of $1 million per month to $1 million per week and now, by September 2018, HIVE's annualized run rate revenue is over $150 million, or $3 million per week."

The Company's Financial Statements and Management's Discussion and Analysis (MD&A) for the three and nine months ended December 31, 2017 will be accessible on SEDAR at www.sedar.com under HIVE's profile and on the Company's website at www.HIVEblockchain.com.

HIVE Blockchain Technologies Ltd. is a growth oriented, TSX.V-listed company building a bridge from the blockchain sector to traditional capital markets. HIVE is strategically partnered with Genesis Mining Ltd. to build the next generation of blockchain infrastructure. HIVE owns state-of-the-art GPU-based digital currency mining facilities in Iceland and Sweden, which produce newly minted digital currencies like Ethereum continuously, and provides shareholders with exposure to the operating margins of digital currency mining as well as a growing portfolio of crypto-coins.

HIVE blockchain have purchased equipment and facilities from Genesis Mining through several agreements. The agreements led to Genesis Mining holding 30% ownership. It provides hosting and software solutions which were originally created by Genesis Mining. It now provides these as a service to Genesis.

Validation helps ensure that the information being registered on the blockchain is legitimate and not falsified. Paired with the immutable nature of blockchain, this helps ensure the integrity of data stored on it.

HIVE validates transactions for blockchain networks and, in doing so, earns new crypto which can be used for revenue and cash flow. The HIVE website highlights how it offers shareholders exposure to the operating margins from cryptocurrency mining, plus a growing portfolio of crypto.

HIVE is a partnership between Genesis Mining and Fiore Group to accelerate the development of the blockchain sector through traditional capital markets and develop the leading listed blockchain infrastructure company.

The business has been mining bitcoin using only green energy and has been committed to an ESG approach from the start. With its distinctive HODL strategy, which connects traditional capital markets with the blockchain and cryptocurrencies, HIVE aims to generate long-term shareholder value. 17dc91bb1f