Page 1

March 2 , 2021 HIVE HIVE BLOCKCHAIN TECHNOLOGIES LTD . HIVE Reports Record Top Line Income From Digital Currency Mining for Q3 F2021 up 174 % From Q3 F2020 or $ 13.7 Million , and Record Year Over Year Cash Flow Growth . Total Income for 9 Months F2021 was $ 28 Million or $ 0.08 per Share and $ 0.05 per Share for Q3 F2021 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 ) ( OTCQX : HVBTF ) ( FSE : HBF ) ( the " Company " or " HIVE " ) announces its results for the third quarter ended December 31 , 2020 ( all amounts in US dollars , unless otherwise indicated ) . Income from digital currency mining was $ 13.7 million in this third quarter , a 174 % increase from the same quarter last year , and 5 % higher than the previous quarter . Record cash flow of $ 13.7 million , up significantly from $ 5.7 million a year earlier , and $ 3.1 million higher than the previous quarter . Gross mining margin expanded to $ 10.6 million , from $ 3.8 million last year , and is $ 1.4 million higher than that experienced in the prior quarter of $ 9.2 million . Net income per share grew to $ 0.05 from $ 0.01 during the prior year period ended December 31 , and is $ 0.02 higher than the previous quarter of September 30 , 2020 . " In spite of the decreased number of Ethereum coins mined during this quarter as a result of the lower transaction fees when compared to the previous quarter , our Bitcoin operations doubled in the quarter so that our combined revenue and cash flow made new highs . In addition , we started upgrading our memory chips during the quarter from 4 Gigabyte to 8 Gigabyte which has been a big challenge with Europe locking down due to COVID - 19 crisis , but we were able to upgrade over 60 % of our mining equipment and still deliver record income and cash flow from operations for our shareholders , " said Frank Holmes , Executive Chairman of HIVE . " Even with the challenges that have been faced with raising difficulty levels , the strong crypto currency prices coupled by our continued focus on lowering costs at our operations we have seen very strong results for our shareholders . " Our Sweden and Iceland operations mining Ethereum on the cloud has been and continues to be a very stable and profitable business for us . On average we have been producing around 20,000 Ethereum coins per quarter , and when we experience quarters above that level it is due to bonus transaction fees that vary from quarter to quarter , " expanded Mr. Holmes .