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October 4 , 2021 HIVE HIVE BLOCKCHAIN TECHNOLOGIES LTD . HIVE Achieves Record Quarterly Revenue of $ 37.2 Million and Earnings of $ 18.6 Million for Q1 F2022 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 Blockcha in Technologies Ltd. ( TSX.V : HIVE ) ( Nasdaq : HIVE ) ( FSE : HBF ) ( the " Company " or " HIVE " ) announces its results for the first quarter ended June 30 , 2021 ( all amounts in US dollars , unless otherwise indicated ) . Gross revenue from digital currency mining was $ 37.2 million in the first quarter , a 466 % increase from the same quarter last year , and 11 % higher than the previous quarter . Record quarterly net income of $ 18.6 million , up significantly from $ 1.8 million a year earlier , and $ 4.3 million higher than the previous quarter . Gross mining margin expanded to $ 31.0 million , from $ 2.6 million last year , and is $ 3.3 million higher than that experienced in the prior quarter of $ 27.7 million . Net income per share grew to $ 0.05 from $ 0.00 during the prior year and is $ 0.01 higher than the previous quarter of March 31 , 2021 . " The first quarter of fiscal 2022 has continued the momentum that we had in fiscal 2021. It's been an incredible year for HIVE . Despite the effects of COVID - 19 and associated supply chain issues , we have achieved record results and continued to increase our Ethereum and Bitcoin mining capacity , " said Frank Holmes , Interim Executive Chairman of HIVE . What many investors have not realized the significance of mining Ethereum in addition to Bitcoin , which has continued to exhibit very strong performance throughout this calendar year , after our Q1 period end of June 30 , 2021 , and even after the London Hard Fork in August 2021 . Of note , for the month of September 2021 , HIVE mined approximately 221 Bitcoin and 2,572 Ethereum . On a daily revenue basis during September 2021 , this income from Ethereum would be equal to mining approximately 186 Bitcoin . Therefore , the total equivalent of Bitcoin mined on a daily revenue basis for HIVE's September 2021 production is approximately 407 Bitcoin , or an average of approximately 13.6 Bitcoin equivalent mined per day . As such , Hive appears to be the most profitable Crypto mining company amongst our peers with a rapidly growing Bitcoin HODL strategy . " During this most recent quarter we acquired HIVE Atlantic in April 2021 , giving us a substantial Bitcoin mining operation in New Brunswick , Canada . We are well into the process of expanding capacity through new construction at this data centre campus and are installing next generation Bitcoin mining equipment which is arriving monthly . " The acquisition of the New Brunswick data centre campus gives us a strategic advantage in this competitive industry . Owning our own state - of - the - art facilities means we don't have to worry about landlords raising the rent and gives us full control of our operations .