This Press Release is a “designated press release” These What are the purposes Company’s prospectus supplement dated September 2, 2022, to its revised base platform prospectus in short form January 4, 2022 .
Vancouver, British Columbia–(Newsfile Corp. – December 22.2022) HIVE Blockchain Technologies Ltd. (TSXV: HIVE) (Nasdaq: HIVE) (FSE: HBF) (the “Company” Or “HIVE”) is pleased to to announce that all resolutions considered at its 2022 annual meeting of shareholders on December Its 2022: Shareholder approval The Company The company also offers a corporate update on the fiscal third quarter. December 31, 2022.
Shareholders Pass Resolutions
The The The following resolutions were approved by the shareholders present or represented at the meeting.
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All Nominated HIVE’s board was made up of directors who were elected or reelected. HIVE’s board is made up of Frank Holmes, Marcus New, Dave Perrill, Ian Mann And Susan McGee. Each Director They will continue to serve until the next gathering, or until they succeed them or die.
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Davidson & Company LLP was reappointed HIVE’s independent external auditor for either the following year, or until hIs successor is appoint. Board This is Directors He He was authorized to fix his remuneration.
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The Company’s Stock Option Plan Reapproved.
The HIVE has more information on the resolutions adopted at the meeting. Management Information CircularDated November 10, 2022 was mailed out to shareholders. It Available on SEDAR at www.sedar.com
Corporate Update
HIVE Increases Energy Efficiency of Mining Fleet
HIVE is happy announce other strategic acquisitions Bitmain Antminer S19j Pro ASIC miners at opportunistic prices of $ per Terahash:
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The Purchase of 1540 S19j Pro With Miners can expect to produce more than just 159 P/s with an average hashrate of only 104 TH/s
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The Purchase of 100 S19j Pro At With an average hashrate rate of 98 T/s miners can expect more than 9 P/s.
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The Company Note that these purchases conform to the 1930 S19j Pro Miners Recently, it was announced that 185 PH/s would be produced.
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In HIVE has acquired 3,570 strategic S19j assets in total. Pro Expect Miners are expected to increase efficiency by more than 355 P/s. Bitcoin Mineralogical The nominal efficiency of hashrate mineral is 29.5 J/TH.
Better Energy Efficiency in joules per an hour (J/TH). Bitcoin Mining Reduces the amount required for each hash. By The Machines can be purchased at a lower price ($/TH) by companies, which will result in higher cash flow returns. This This will enable the company to increase the break-even point. Bitcoin Production to help navigate the current crypto mining economics. .
HIVE also received HIVE Buzz in the amount of 420Miners In SwedenThey installed along with the 262 HIVE buzzMiners Operating In New BrunswickThis This brings the total operational number to 682 HIVE buzzMinersThe The nominal production capacity is 75 PH/s. Total HIVE BuzzMiners Production 5,800 units. These Units are expected to produce 638 p/s.
HIVE’s new fleet of 9,370 vehicles Bitcoin ASIC miners in the 30 J/TH area are expected to produce more than 990 P/s high efficiency. Bitcoin Capacity Mining These HIVE’s global fleet will be upgraded with machines. They These machines will be replaced by legacy mining machines that were in use since 2018 or 2020. The Company The 9370 machines are expected be delivered and installed within existing infrastructure by the close of the year. January 2023.
This An upgrade will increase HIVE’s global reach Bitcoin Production Within the same operating footprint of the electrical infrastructure, capacity increases by approximately 20% In This Update will decrease the break-even value for average production by approximately 20%
Job Industry Advancement Test
The Company Noting that technological advancements have allowed for the creation of new products or services. Bitcoin In In our proof-of-work environment, power consumption has fallen by 67% in the last year Bitmain Antminer The most popular S9 was Bitcoin In 2018, miner. /2019. The S9’s efficiency was between 90-98 J/TH. The The current S19j is more efficient. Pro An S9 is 1/3 as efficient per terahash.
Where The Use the technology to increase your processing power. Bitcoin BlockchainThe industry is looking for a more efficient distributed ledger, a immutable one that has stood the test of time.
The HIVE has added 9370 ASIC
HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (OTCQX:HVBTF) (FSE:HBF) (the “Company” or “HIVE”), a leading publicly listed blockchain infrastructure company, is pleased to announce the results of its annual and special meeting of shareholders (the “Meeting”) held on December 23, 2020. In addition, the Company is pleased to announce that it has acquired a fleet of energy efficient Bitmain S19j Pro miners to drive HIVE to target 3 Exahash in the new year.
At the Meeting, HIVE shareholders voted in favour of all matters presented for approval, including the election of the Company’s current Board of Directors. All of the nominees listed in the Company’s management information circular dated November 23, 2020 were elected as directors of the Company.
The Company is also pleased to announce that it has acquired a fleet of energy efficient Bitmain S19j Pro miners to drive HIVE to target 3 Exahash in the new year, as part of its green energy strategy. The Company has also acquired additional multi-purpose servers to increase its mining capacity and flexibility.
“We are committed to increasing our mining capacity and expanding our operations, while at the same time ensuring that we are responsible stewards of the environment,” said Frank Holmes, CEO of HIVE. “We are proud to be part of the effort to find green energy solutions for digital asset mining, and these new miners are a key part of that strategy.”
HIVE encourages its YouTube channel subscribers to view more information. For more information and to sign up for the HIVE mailing list, visit www.HIVEblockchain.com. Follow @HIVEblockchain on Twitter and subscribe to the HIVE YouTube Channel.
“Frank Holmes”
CEO
HIVE Blockchain Technologies Ltd.
For more information:
Frank Holmes
Phone: (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 news release.
Forward-Looking Information
This press release contains forward-looking information based on current expectations. Statements about, among other things, the Company’s future plans, intentions, and actions, its ability to successfully mine digital currency, the sustainability of power and water to be used for cryptocurrency mining purposes in the jurisdictions where applicable, the Company’s ability to maintain functioning systems, the Company’s ability to provide reliable and economical power to the Company, the Company’s ability to maintain capital market conditions, the Company’s ability to execute its expansion plans and manage its assets, the Company’s ability to maintain protection rights, the impact of government regulation and compliance on the industry, the Company’s ability to secure network security risk, the impact of power cuts or regulatory changes on power regimes in the jurisdictions they are implemented, the impact of currency exchange rates changes, energy restrictions, and the Company’s use of its market offering, are all forward-looking information. Forward-looking information is based on certain factors and assumptions the Company believes to be reasonable at the time such statements are made. Such forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Important factors that may cause actual results to vary, include, without limitation, the Company’s ability to successfully mine digital currency, the sustainability of power and water to be used for cryptocurrency mining purposes in the jurisdictions where applicable, the Company’s ability to maintain functioning systems, the Company’s ability to provide reliable and economical power to the Company, the Company’s ability to maintain capital market conditions, the Company’s ability to execute its expansion plans and manage its assets, the Company’s ability to maintain protection rights, the impact of government regulation and compliance on the industry, the Company’s ability to secure network security risk, the impact of power cuts or regulatory changes on power regimes in the jurisdictions they are implemented, the impact of currency exchange rates changes, energy restrictions, and the Company’s use of its market offering. Although the Company has attempted to identify important factors that could cause actual results to differ materially from the forward-looking information set out in this press release, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
