Mr. Frank Holmes reports

HIVE BLOCKCHAIN PROVIDES UPDATE ON AT-THE-MARKET OFFERING

Hive Blockchain Technologies Ltd. has provided an update on its at-the-market offering, and has granted an option and restricted share units to an officer of the company.

At-the-market offering

Pursuant to the ATM equity program, as required pursuant to National Instrument 44-102 (Shelf Distributions) and the policies of the TSX Venture Exchange, the company announces that, during its second quarter ended Sept. 30, 2021, it has issued an aggregate of 4,980,600 common shares over the TSX-V, for aggregate gross proceeds to the company of $19,161,593. The ATM shares were sold at prevailing market prices, for an average price per ATM share of $3.85. Pursuant to the equity distribution agreement associated with the ATM equity program (the EDA), a cash commission of $457,030 (U.S.) on the aggregate gross proceeds raised was paid to the agent in connection with its services under the EDA during the second quarter ended Sept. 30, 2021.

Pursuant to the EDA, the company may, from time to time, sell up to $100-million (U.S.) of common shares in the capital of the company. The company intends to use the net proceeds of the ATM equity program, if any, principally for general corporate and working capital requirements, for financing continuing operations, to repay indebtedness outstanding from time to time, to complete future acquisitions, or for other corporate purposes.

Option and restricted share unit grant

The company announced that the board of directors has approved the grant of 900,000 incentive stock options to an officer of the company, which vest over 60 months. The options are exercisable into the equivalent amount of common shares of the company at a price of $3.70 per share until Oct. 7, 2031. The company's board has also approved the grant of 40,000 restricted share units (RSUs) to an officer of the company, which vest over 12 months. Each vested RSU entitles the holder to receive one common share of the company. The grant of options and RSUs is subject to the approval of the TSX Venture Exchange.

About Hive Blockchain Technologies Ltd.

Hive Blockchain went public in 2017 as the first cryptocurrency mining company with a green energy and ESG (environmental, social and corporate governance) strategy.

Hive is a growth-oriented technology stock in the emergent blockchain industry. As a company whose shares trade on a major stock exchange, it is 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 it sources only green energy to mine on the cloud and hodl both ethereum and bitcoin. Since the beginning of 2021, Hive has held in secure storage the majority of its ETH and BTC coin mining rewards. Its shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of cryptocurrencies such as ETH and BTC. Because Hive also owns hard assets such as data centres and advanced multiuse servers, it believes its shares offer investors an attractive way to gain exposure to the cryptocurrency space. Hive traded over two billion shares in 2020.

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