HBFA) Issues November 2022 production update

HIVE Blockchain Technologies (NASDAQ: HIVE ) (TSX.V: HIVE ) (FSE: HBFA ) today announced production numbers from the company’s global bitcoin operations for the month of November 2022. Among the highlights, HIVE reportedly produced 264 bitcoins in the month of November, from ASIC – and GPU mining, with a monthly average hash rate of 2.51 exahash, representing an average of 105 bitcoin per exahash. “In November, we continued to face several external macro forces, which increased market turbulence due to the contagion concerns caused by the FTX implosion, rising interest rates and statements from various governments on energy issues,” said Darcy Daubaras, CFO of HIVE. “In response, we took a conservative strategy with our balance sheet and strengthened our liquidity position by selling some bitcoin. We don’t control these volatile external risks, but we can control how we adapt. We also started to improve the efficiency of our mining fleet with the purchase of new and more energy-efficient equipment, which will leave more room for profitability, countering the effects of rising energy costs, increasing global bitcoin mining difficulties since September and bitcoin prices that have remained low.”

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About HIVE Blockchain Technologies Ltd.

HIVE Blockchain Technologies went public in 2017 as the first cryptocurrency mining company with a green energy and ESG strategy. HIVE is a growth-oriented technology share in the emerging blockchain industry. As a company whose shares are traded on a major exchange, it is building a bridge between the digital currency and blockchain sector and traditional capital markets. HIVE owns state-of-the-art, green energy-powered data center facilities in Canada, Sweden and Iceland, where they strive to source only green energy to mine digital assets such as bitcoin on the cloud. Since the beginning of 2021, HIVE has held in secure storage the majority of the treasury of ETH and BTC derived from mining rewards. The company’s shares give investors exposure to the operating margins of digital currency mining, as well as a portfolio of cryptocurrencies, primarily BTC. Because HIVE also owns hard assets such as data centers and advanced multipurpose servers, they believe their shares offer investors an attractive way to gain exposure to the cryptocurrency space. For more information and to sign up for HIVE’s mailing list, please visit www.HIVEBlockchain.com.

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