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HIVE Blockchain Provides Update on February 2022 Production and At-The-Market Offering and Conclusion of Canadian At-The-Market Offering

Vancouver, BC, March 14, 2022--(T-Net)--HIVE Blockchain Technologies Ltd. (TSX.V:HIVE) (Nasdaq:HIVE) (FSE:HBF) announced the production figures from the Company's global Bitcoin and Ethereum mining operations for the month of February 2022, with a BTC HODL balance of 2,374 Bitcoin as of February 28, 2022.

The Company is also providing an update on its at-the-market offering, and conclusion of the Canadian at-the-market agreement.

To clarify the Company's recent press release of March 7, 2022, their planned 100 megawatt Texas facilities with Compute North could operate up to 4.0 Exahash per second of new generation ASIC miners.

February 2022 Production Figures

HIVE announced its February 2022 production figures and mining capacity:

• 244.4 BTC Produced
• 1.9 Exahash of Bitcoin mining capacity
• 1,814 ETH Produced
• Increased Ethereum mining capacity from 4.56 to 4.88 Terahash during February
• HODL position grows to 2,374 BTC

Frank Holmes, EXECUTIVE CHAIRMAN, HIVE Blockchain Technologies Ltd.

Frank Holmes, Executive Chairman of HIVE stated "We reported HIVE has maintained its strong Bitcoin hashing power through the month of February even as the network difficulty rose. In February we produced an average of 8.7 BTC per day, and note that as of today, we are producing approximately 8.8 BTC a day."

Aydin Kilic, President & COO of HIVE noted "We continue to strive for operational excellence, ensuring that as we scale our hashrate as a company we also optimize our uptime, to ensure ideal Bitcoin and Ethereum output figures. Mr. Kilic continued, "We also would like to provide an update on the BTC and ETH equivalency, where one can equate value of the coins produced daily. As such the ETH that HIVE produced during the month of February, equated on a daily basis, is approximately equal to a monthly total of 132.6 BTC, which we refer to as Bitcoin equivalent or BTC equivalent. This is in addition to the 244.4 BTC produced from our Bitcoin mining operations during February, for a total of 377.1 Bitcoin equivalent"

The Company's total Bitcoin equivalent production in February 2022 was:

• 377.1 BTC Equivalent Produced
• 13.5 BTC Equivalent produced per day on average
• 2.84 Exahash of BTC Equivalent Hashrate (BTC hashrate plus equivalent ETH Hashrate as of February 28)

Update on Network Mining Difficulty and Winter Energy Markets

The Bitcoin network difficulty increased as much as 5% and similarly the Ethereum network difficulty was stable during the month of February. These factors impact the company's gross profit margins.

For the second consecutive month, in February the company said its production would have been slightly higher than actuals, if not for the continuing curtailment of energy during the month under our agreement with Quebec Hydro.

This seasonal curtailment continued to affect numerous crypto-mining companies operating in Quebec, along with HIVE. In addition, in New Brunswick the company says it continued to experience, as expected, a temporary seasonal rise in energy prices.

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 third quarter ended December 30, 2021, it has issued an aggregate of 3,513,500 common shares over the TSX-V, for aggregate gross proceeds to the Company of C$15,120,113.

The ATM Shares were sold at prevailing market prices, for an average price per ATM Share of C$4.30. Pursuant to the Equity Distribution Agreement associated with the ATM Equity Program (the "EDA"), a cash commission of US$365,028 on the aggregate gross proceeds raised was paid to the agent in connection with its services under the EDA during the third quarter ended December 30, 2021.

TThe company has raised US $99.5 million HIVE (via sale of 27,236,000 common shares) under its ATM Equity Program (with Canaccord Genuity Corp. as sole agent) over the past year, and the program has now concluded as of March 8, 2022.

The Company intends to use the net proceeds of the ATM Equity Program principally for general corporate and working capital requirements, funding ongoing operations, to repay indebtedness outstanding from time to time, to complete future acquisitions, or for other corporate purposes.

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.

HIVE is a growth-oriented technology stock in the emergent blockchain industry. As a company whose shares trade on a major stock exchange, we are 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 we source 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. Our 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 centers and advanced multi-use servers, we believe our sha

This news release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States or in any jurisdiction where the offer, sale or solicitation would be unlawful. The Common Shares referred to in this news release may not be offered or sold in the United States absent registration or an applicable exemption from registration.