This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated February 2, 2021 to its short form base shelf prospectus dated January 27, 2021.
Vancouver, Canada – HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (Nasdaq:HVBT) (FSE:HBF) (the “Company” or “HIVE”) is happy to announce that it has joined the NVIDIA Partner Network (the “NPN”) Cloud Service Provider program and entered into purchase agreements for NVIDIA GPU’s with a total contract value of more than US$66 million.
NVIDIA Partner Network
Joining the NPN program is a significant step towards HIVE’s growth strategy and its future plans to expand into Enterprise Cloud services focused on High Performance Computing (“HPC”) workloads. Acceptance into the NTN program provides the Company with access to NVIDIA’s ecosystem, partners, customers and deep industry expertise. These benefits will enable HIVE to transition towards Enterprise Cloud seamlessly by leveraging NVIDIA’s technical leadership.
Data Center Grade GPU Cards
HIVE has committed to purchase NVIDIA GPU’s with a total contract value of over US$66 million. 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. Frank continued, “Our investment in NVIDIA GPU’s strengthens HIVE’s to remain nimble and gives us the power to pivot in this ever changingand dynamic industry.”
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 are listed on the TSX.V exchange and our shares have been approved for listing on the Nasdaq.
HIVE is a growth-oriented company in an emergent industry. We are building a bridge between the blockchain sector and traditional capital markets. HIVE owns state-of-the-art green energy-powered data centre facilities in Canada, Sweden, and Iceland which produce newly minted digital currencies like Bitcoin and Ethereum continuously on the cloud. Since the beginning of 2021, HIVE has accumulated the majority of its ETH and BTC coin production, which we hold in secure storage. Our deployments provide shareholders with exposure to the operating margins of digital currency mining, as well as a portfolio of crypto-coins such as BTC and ETH. HIVE traded over 2 billion shares in 2020.
For more information and to register to HIVE’s mailing list, please visit www.HIVEblockchain.com. Follow @HIVEblockchain on Twitter and subscribe to HIVE’s YouTube channel.
On Behalf of HIVE Blockchain Technologies Ltd.
For further information please contact:
Tel: (604) 664-1078
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes but is not limited to, statements with respect to listing and trading on the Nasdaq; about the Company’s program to upgrade and expansion of its cryptocurrency mining equipment; the potential for the Company’s long term growth; the business goals and objectives of the Company, and other forward-looking information includes but is not limited to information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to the Company’s ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company’s operations; the volatility of digital currency prices; continued effects of the COVID-19 pandemic may have a material adverse effect on the Company’s performance as supply chains are disrupted and prevent the Company from operating its assets; and other related risks as more fully set out in the Filing Statement of the Company and other documents disclosed under the Company’s filings at www.sedar.com.
The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the current profitability in mining cryptocurrency (including pricing and volume of current transaction activity); profitable use of the Company’s assets going forward; the Company’s ability to profitably liquidate its digital currency inventory as required; historical prices of digital currencies and the ability of the Company to mine digital currencies will be consistent with historical prices; and there will be no regulation or law that will prevent the Company from operating its business. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein