HIVE Blockchain Announces Proposed 5-to-1 Stock Consolidation

This press release constitutes a “designated press 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. – May 10, 2022) – HIVE Blockchain Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: HBF) (the “Company” or “HIVE”) announces that it intends to effect a consolidation (the “Consolidation”) of its common shares (“Shares shares”) on the basis of five (5) pre-Consolidation ordinary shares for one (1) post-Consolidation ordinary share. As of the date hereof, there are 411,209,923 common shares issued and outstanding. On a post-consolidation basis, the Company will have approximately 82,241,984 common shares issued and outstanding. The common shares reflecting the Combination are expected to begin trading on the TSX Venture Exchange and Nasdaq on or about May 20, 2022. The Company will not change its name as part of the Combination. Completion of the Combination is subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange. Pursuant to the Business Corporations Act (British Columbia) and the Company’s Articles, shareholder approval for the Combination is not required.

Frank Holmes, Executive Chairman of HIVE, said: “Talking to shareholders at the many conferences I have attended over the past 60 days, it is evident that some shareholders find it difficult to compare HIVE to its industry peers, as we have a lot more stock. outstanding.” Mr. Holmes continued, “Even though HIVE has a higher market capitalization than many of our peers and stronger fundamentals, as measured by price-earnings ratios, revenue per employee and debt ratios, the increase in share price creates greater institutional visibility because many of their fundamental screens exclude stocks under $5 per share. Hive has very attractive fundamentals compared to other tech stocks and trading at a higher price can make it much more attractive.

Many institutional investors, especially mutual funds, have a policy of not taking a position in a stock that is priced below a minimum price, regardless of market capitalization. HIVE stock price will increase; however, its market capitalization is not expected to change, apart from the effect of market forces. We believe that HIVE’s profile could broaden as a result of this equity consolidation, as these minimum equity prices will no longer be a barrier to investing. After the bear market of 2009, many stocks with great fundamentals like Citi Group reduced their stocks to be more attractive to a wider audience of investors.”

Darcy Daubaras, Chief Financial Officer of HIVE, said: “We believe that an increase in the share price resulting from the consolidation of stocks, on the TSX-V and in particular on the Nasdaq, will allow us to attract more wide range of shareholders, to obtain increased liquidity and to provide long term value for investors. After stock consolidation takes effect, we will have a stock count that is more comparable to our peers and hope to expand our institutional reach. Mr. Daubaras continued: “The goal here is to add value for shareholders. HIVE continues to be one of the most profitable crypto mining companies in the industry, and we are focused on sustainably expanding and optimizing our mining operations.

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. We mine Bitcoin and Ethereum using mostly clean and cheap hydroelectric power in Canada, Sweden and Iceland.

HIVE is a technology stock focused on growth in the emerging blockchain industry. We are building a bridge between the digital currency and blockchain industry and traditional capital markets. HIVE has state-of-the-art data center facilities powered by green energy in Canada, Sweden and Iceland, where we source only green energy to mine on cloud and HODL both Ethereum and Bitcoin. Since the start of 2021, HIVE has kept the majority of its ETH and BTC coin mining rewards in secure storage. Our stocks offer investors exposure to the operating margins of digital currency mining, as well as a portfolio of cryptocurrencies such as ETH and BTC. Since HIVE also owns durable assets such as data centers and advanced multi-purpose servers, we believe our stocks offer investors an attractive way to gain exposure to the cryptocurrency space.

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 To follow @HIVEblockchain on Twitter and subscribe to HIVE YouTube Channel.

On behalf of HIVE Blockchain Technologies Ltd.
“Frank Holmes”
Executive Chairman

For more 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 the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Forward-looking information

Except for statements of historical fact, this press release contains “forward-looking information” within the meaning of applicable Canadian securities laws that is based on expectations, estimates and projections as of the date of this press release. . The “forward-looking information” contained in this press release includes, but is not limited to, the company’s business goals and objectives; statements and information regarding: (i) the completion and potential benefits of the Consolidation; (ii) the expected number of common shares issued and outstanding following the consolidation; (iv) the timetable and expected effective date of the Combination; and (v) TSX Venture Exchange approval and other forward-looking information regarding the intentions, plans and future actions of the parties to the transactions described herein and the terms thereof.

Factors that could cause actual results to differ materially from those described in such 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 Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a significant decline in digital currency prices could have a material adverse impact on the Company’s operations; digital currency price volatility; the continued effects of the COVID-19 pandemic could have a material adverse effect on the Company’s performance as supply chains are disrupted and prevent the Company from achieving its expansion plans or operating its assets; and other related risks, as more fully set forth in the Company’s registration statement and other documents disclosed in the Company’s filings at and

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 Company’s future objectives, goals or plans, the timing thereof and related matters. The Company has also assumed that no material events occur outside of the normal course of business for the Company. 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, accordingly, undue reliance should not be placed on such information due to the inherent uncertainty of such information. -this.

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