03:02:00 EDT Sun 17 Oct 2021
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Hive Blockchain Technologies Ltd
Symbol HIVE
Shares Issued 379,578,959
Close 2021-06-30 C$ 3.54
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Hive joins NVIDIA Partner Network, orders GPUs

2021-07-02 09:08 ET - News Release

Mr. Frank Holmes reports


Hive Blockchain Technologies Ltd. has joined the NVIDIA Partner Network (NPN) cloud service provider program and entered into purchase agreements for NVIDIA GPUs (graphics processing units) with a total contract value of more than $66 million (U.S.).

NVIDIA partner network

Joining the NPN program is a significant step toward Hive's growth strategy and its future plans to expand into enterprise cloud services focused on high performance computing (HPC) workloads. Acceptance into the NPN program provides the company with access to NVIDIA's ecosystem, partners, customers and deep industry expertise. These benefits will enable Hive to transition toward enterprise cloud seamlessly by leveraging NVIDIA's technical leadership.

Data-centre-grade GPU cards

Hive has committed to purchase NVIDIA GPUs with a total contract value of over $66-million (U.S.). These cards will be delivered over the remaining months of calendar 2021, with deliveries arriving each month. "Hive has always had the ability to change course when required since being the first blockchain company to go public in 2017," said Frank Holmes, executive chairman of Hive. He continued, "Our investment in NVIDIA GPUs strengthens Hive's to remain nimble and gives us the power to pivot in this ever-changing and dynamic industry."

About Hive Blockchain Technologies Ltd.

Hive Blockchain Technologies went public in 2017 as the first cryptocurrency mining company with a green energy and ESG (environmental, social and 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, Hive 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 the company sources only green energy to mine on the cloud and hold both ethereum and bitcoin. Since the beginning of 2021, Hive has held in secure storage the majority of its ethereum and bitcoin coin mining rewards. The company's shares provide investors with exposure to the operating margins of digital currency mining as well as a portfolio of cryptocurrencies such as ethereum and bitcoin. Because Hive also owns hard assets such as data centres and advanced multiuse servers, the company 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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