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REPEAT – HIVE Blockchain Gives July 2022 Manufacturing Replace

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HIVE Blockchain Technologies Ltd.

HIVE Blockchain Applied sciences Ltd.

This information launch constitutes a “designated information launch” for the needs of the Firm’s prospectus complement dated February 2, 2021 to its amended and restated brief kind base shelf prospectus dated January 4, 2022.

VANCOUVER, British Columbia, Aug. 05, 2022 (GLOBE NEWSWIRE) — HIVE Blockchain Applied sciences Ltd. (TSX.V:HIVE) (Nasdaq:HIVE) (FSE:HBFA.F) (the “Firm” or “HIVE”) is happy to announce the manufacturing figures from the Firm’s world Bitcoin and Ethereum mining operations for the month of July 2022, with a BTC HODL stability of three,091 Bitcoin and 6,820 Ethereum as of August 4, 2022.

July 2022 Manufacturing Figures 

HIVE is happy to announce its July 2022 manufacturing figures and mining capability:

  • 279.9 BTC Produced

  • 2.2 Exahash of Bitcoin mining capability at starting of July

  • Elevated to 2.26 Exahash of Bitcoin mining capability in the course of the month of July, with a mean hashrate of two.03 Exahash of Bitcoin mining capability in the course of the month of July

  • 2,957 ETH Produced*

  • 5.77 Terahash of Ethereum mining capability at starting of July, some miners had been taken offline briefly for structure optimization resulting from larger summer season temperatures

  • 6.49 Terahash of Ethereum mining capability at finish of July, with a mean hashrate of 6.19 Terahash of Ethereum mining capability in the course of the month of July

*The Firm’s manufacturing of ETH from GPU mining (together with selective optimizations of GPU hashrate) has yielded a complete ETH manufacturing of two,957 ETH.

Frank Holmes, Govt Chairman of HIVE said, “In July we produced a mean of 15.0 Bitcoin Equal per day, comprised of roughly 9.0 BTC per day and our Ethereum manufacturing of roughly 95 Ethereum per day. We’re happy to notice that as of right now, we’re producing roughly 10 BTC a day along with roughly 95 Ethereum per day.”

Aydin Kilic, President & COO of HIVE famous, “We proceed to try for operational excellence, making certain that as we scale our hashrate, we additionally optimize our uptime, to make sure very best Bitcoin and Ethereum output figures.” Mr. Kilic continued, “We additionally want to present an replace on the BTC and ETH equivalency, the place one can equate worth of the cash produced every day. As such the ETH that HIVE produced in the course of the month of July, equated every day, is roughly equal a month-to-month whole of 185.2 BTC, which we consult with as Bitcoin Equal or BTC Equal. That is along with the 279.9 BTC produced from our Bitcoin mining operations throughout July, for a complete of 465.1 Bitcoin equal”

The Firm’s whole Bitcoin Equal manufacturing in July 2022 was:

  • 465.1 BTC Equal Produced

  • 15.0 BTC Equal produced per day on common

  • 3.77 Exahash of BTC Equal Hashrate (BTC hashrate plus equal ETH hashrate) as of July 31), with common hashrate of three.36 Exahash of BTC Equal hashrate all through July

Ethereum Outlook and Technique

The Firm acknowledges there was current discussions surrounding the potential Ethereum “Merge” to Proof of Stake (“PoS”).

With respect to a timeline to PoS, the Firm notes {that a} particular block for the Ethereum Merge has not been specified. Till a selected block has been recognized and universally accepted by the Ethereum Basis, the Firm believes it’s indeterminate if or when the Merge will occur. For comparability, each Bitcoin halving occasion is at a particularly prescribed block top (notably, each 210,000 blocks).

HIVE acknowledges there might be execution threat in implementing a enterprise technique if Ethereum goes to PoS, and we consider there shall be continued demand for GPU primarily based Proof of Work (“PoW”) mining. As such, the Firm has a method within the occasion the Merge happens.

HIVE believes there may be intrinsic worth in a broadly decentralized PoW blockchain with Layer 2 good contracts, as nearly all of such initiatives exist on the Ethereum blockchain. If NFT and DeFi builders understand {that a} safe PoW Layer 1 blockchain is the most effective taking part in discipline for his or her code-based initiatives, there might be a rise in Layer 2 purposes on the Ethereum Traditional blockchain, after the Merge.

The Firm has already commenced case research, analyzing hashrate economics of Ethereum Traditional and different GPU mineable cash at an industrial scale. HIVE has additionally been performing GPU optimizations all through calendar 2022, that are proprietary and supply the Firm with a aggressive edge.

If the Merge happens, the Firm expects that there shall be a aggressive edge required in technical proficiency as GPU mining is extra concerned than ASIC mining. It causes that firms or pastime miners who’re the most effective at GPU optimizations, will prosper. We anticipate that there shall be extra algorithmic pushed utility of GPU mining, the place customers could mine a number of cash. This shall be along with the aggressive edge miners sometimes search of getting the most effective power economics, so that they have the bottom working price per hash generated. GPU miners might want to have a low price of hashing, whereas additionally being modern to drive the best yield (income) per hash, via optimizations.

GPUs which at the moment mine Ethereum are just one side of HIVE’s operations which enhances its fleet of Bitcoin mining ASICs. HIVE’s GPU fleet is comprised of two sorts of playing cards, our legacy fleet comprised principally of RX580s, and will be repurposed for different GPU mineable cash. The second kind being our information heart grade playing cards, particularly our Nvidia fleet which we introduced final yr once we joined the Nvidia Accomplice Community; these playing cards produce other purposes in high-performance computing (HPC) purposes. HIVE has been creating a brand new platform for our information heart grade playing cards to create new streams of income. The Firm foresees the creation of latest streams of revenues from GPUs, similar to offering HPC companies for rendering, AI, ML, molecular modelling, and so on.

New Brunswick Energy Prices

HIVE has navigated a number of months of excessive power costs in New Brunswick (“NB”) at its information heart campus, which have affected all companies which are prospects with interruptible power contracts. Mr. Kilic famous “The interruptible power charges in New Brunswick have traditionally been between 3.5 to 4.5 cents USD per KWHR, primarily based on annual averages over the past decade.” HIVE additionally has a portion of the whole electrical load in NB as mounted energy at roughly 6 cents per KWHR USD. Within the Firm’s fiscal This autumn 2022 (January to March 2022), the ability charges in NB primarily based on the Firm’s utilization (blended mounted and interruptible energy) had been roughly 12 cents per KWHR for 46MW of capability. Mr. Kilic continued “A good thing about being globally diversified, with 6 information facilities in three international locations, HIVE’s different services loved energy prices of roughly 3.5 cents per KWHR for about 54MW of working capability.” Considering the common of HIVE’s world working prices for electrical energy, information heart workers and upkeep for all services in This autumn 2022, the whole price was roughly 7.5 cents per KWHR USD, primarily based on a worldwide common working footprint of 114MW, in comparison with income of $49.8M USD (as famous within the Firm’s audited fiscal 2022 monetary statements), which equates to roughly $0.20 per KWHR. The Firm notes that it was capable of profitably mine crypto currencies throughout these intervals, thus maximizing coin manufacturing.

Since then, the Firm’s common world working prices for electrical energy, information heart workers and upkeep, in New Brunswick have improved considerably, because the Firm has enacted methods to keep away from excessive interruptible energy costs in NB, which can embody occasionally, decreasing consumption during times of peak interruptible energy. In fiscal Q1 2023 (April to June 2022), the Firm’s common energy prices in NB have been 7.4 cents per KWHR USD, using roughly 52MW on common, and globally working prices for electrical energy, information heart workers and upkeep for all services is roughly 5.5 cents per KWHR primarily based on a worldwide common working footprint of roughly 126MW.

Community Mining Issue

The Bitcoin community problem decreased 6.5% in the course of the month of July. The Ethereum community problem had a sudden problem lower of virtually 20% on the finish of June, which was adopted by a slight and gradual enhance of 1.6% in the course of the month of July. These components influence our gross revenue margins.

About HIVE Blockchain Applied sciences Ltd.

HIVE Blockchain Applied sciences Ltd. went public in 2017 as the primary cryptocurrency mining firm with a inexperienced power and ESG technique.

HIVE is a growth-oriented expertise inventory within the emergent blockchain business. As an organization whose shares commerce on a significant inventory change, we’re constructing a bridge between the digital foreign money and blockchain sector and conventional capital markets. HIVE owns state-of-the-art, inexperienced energy-powered information centre services in Canada, Sweden, and Iceland, the place we supply solely inexperienced power to mine on the cloud each Ethereum and Bitcoin. For the reason that starting of 2021, HIVE has held in safe storage nearly all of its ETH and BTC coin mining rewards. Our shares present traders with publicity to the working margins of digital foreign money mining, in addition to a portfolio of cryptocurrencies similar to ETH and BTC. As a result of HIVE additionally owns onerous belongings similar to information facilities and superior multi-use servers, we consider our shares supply traders a horny option to acquire publicity to the cryptocurrency area.

We encourage you to go to HIVE’s YouTube channel here to be taught extra about HIVE.

For extra info and to register to HIVE’s mailing record, please go to www.HIVEblockchain.com. Comply with @HIVEblockchain on Twitter and subscribe to HIVE’s YouTube channel.

On Behalf of HIVE Blockchain Applied sciences Ltd.
“Frank Holmes”
Govt Chairman

For additional info please contact:

Frank Holmes
Tel: (604) 664-1078

Neither the TSX Enterprise Change nor its Regulation Companies Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Change) accepts duty for the adequacy or accuracy of this information launch

Ahead-Trying Info

Apart from the statements of historic truth, this information launch accommodates “forward-looking info” inside the which means of the relevant Canadian securities laws that’s primarily based on expectations, estimates and projections as on the date of this information launch. “Ahead-looking info” on this information launch contains, however just isn’t restricted to, enterprise objectives and goals of the Firm; and different forward-looking info regarding the intentions, plans and future actions of the events to the transactions described herein and the phrases thereon.

Components that might trigger precise outcomes to vary materially from these described in such forward-looking info embody, however aren’t restricted to, the volatility of the digital foreign money market; the Firm’s skill to efficiently mine digital foreign money; the Firm could not have the ability to profitably liquidate its present digital foreign money stock as required, or in any respect; a cloth decline in digital foreign money costs could have a big unfavorable influence on the Firm’s operations; the volatility of digital foreign money costs; continued results of the COVID-19 pandemic could have a cloth opposed impact on the Firm’s efficiency as provide chains are disrupted and stop the Firm from finishing up its enlargement plans or working its belongings; and different associated dangers as extra absolutely set out within the registration assertion of Firm and different paperwork disclosed underneath the Firm’s filings at www.sec.gov/EDGAR and www.sedar.com.

The forward-looking info on this information launch displays the present expectations, assumptions and/or beliefs of the Firm primarily based on info at the moment out there to the Firm. In reference to the forward-looking info contained on this information launch, the Firm has made assumptions in regards to the Firm’s goals, objectives or future plans, the timing thereof and associated issues. The Firm has additionally assumed that no vital occasions happen outdoors of the Firm’s regular course of enterprise. Though the Firm believes that the assumptions inherent within the forward-looking info are affordable, forward-looking info just isn’t a assure of future efficiency and accordingly undue reliance shouldn’t be placed on such info because of the inherent uncertainty therein.

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