HIVE Blockchain Announces $30 Million Bought Overeenkomst Financing and Launches 2nd Phase Expansion ter Sweden

HIVE Blockchain Announces $30 Million Bought Deal Financing and Launches Second Phase Expansion in Sweden

US $22 Million Sweden Expansion to Grow HIVE’s Cryptocurrency Mining Capacity by overheen 60%

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Oct. 25, 2018) –

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION Ter THE UNITED STATES

HIVE Blockchain Technologies Ltd. (TSX VENTURE:HIVE) (the “Company” or “HIVE”) is pleased to announce that it has entered into an agreement with a syndicate of underwriters led by GMP Securities L.P. (the “Underwriters”), pursuant to which the Underwriters have agreed to purchase, on a bought overeenkomst fundament, Ten,715,000 units of the Company (the “Units”) at a price of C$Two.80 vanaf Unit (the “Suggesting Price”), for aggregate gross proceeds of C$30,002,000 (the “Bought Overeenkomst”). The Underwriters have bot granted an option, exercisable at any time up to forty-eight hours prior to closing (spil defined below), to purchase up to an extra 1,607,250 Units at the Suggesting Price (together with the Bought Overeenkomst, the “Suggesting”). Each Unit will consist of one common share and one common share purchase warrant (a “Warrant”), with each Warrant entitling the holder to purchase one common share at a price of $Three.90 for a period of two years.

The Suggesting will take place by way of a private placement to accredited investors te such provinces of Canada spil the Underwriters may designate, and otherwise te those jurisdictions where the Suggesting can lawfully be made on a private placement ondergrond. The securities issued under the Suggesting will be subject to a four month and one day hold period from the date of kwestie te accordance with applicable securities laws ter Canada, and potentially extra limitations under the laws of other jurisdictions te which the Suggesting may be made.

This news release does not constitute an suggest to sell the Shares ter the United States or to US persons. The securities have not bot and will not be registered under the United States Securities Act of 1933, spil amended, and they may not be suggested or sold te the United States or to a US person unless an exemption from registration is available.

The netwerk proceeds of the Suggesting are expected to be used to fund the 2nd phase of construction at the cryptocurrency mining gegevens centre te Sweden (spil described below) and for general working capital purposes.

The Suggesting is expected to close on or about November 14, 2018 (the “Closing Date”). Closing of the Suggesting is subject to certain conditions typical for a transaction of this nature and the receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange (the “Exchange”). Certain insiders, including Genesis Mining Ltd. (“Genesis”), and other purchasers arranged by the Company are expected to subscribe for C$Ten,000,000 under the Suggesting.

Expansion of the Sweden Gegevens Centre

HIVE is pleased to announce that it has entered into a legally roping letterteken agreement dated October 25, 2018 with its largest shareholder Genesis Mining Ltd. under which the Company will finance the construction of the 2nd phase of cryptocurrency mining equipments (the “Expansion”) at the gegevens centre ter Sweden (the “Sweden Gegevens Centre”). Please refer to the Company’s October 23, 2018 news release for more detail on the very first phase of construction at the Sweden Gegevens Centre.

The Expansion will consist of freshly constructed GPU mining equipments using the latest hardware, custom-designed by Genesis. The Company’s cryptocurrency mining capacity or hashpower is anticipated to dual ter Sweden spil a result of the Expansion and upon completion, HIVE’s hashpower capacity is expected to be based approximately 78% ter Sweden and 22% te Iceland.

The Expansion at the Sweden Gegevens Centre will be constructed by Genesis for consideration of an estimated US$22 million and is expected to be ended te March 2018. This is ter addition to the previously announced US$22 million consideration for the very first phase of the Sweden Gegevens Centre construction, expected to be finished ter December 2018. Pursuant to a master services agreement inbetween the Company and Genesis (the “MSA”), Genesis will be responsible for hosting, maintenance and related services for the Expansion for a monthly toverfee.

Completion of the Expansion is subject to a number of conditions, including but not limited to, Exchange approval spil required, and completion of the Suggesting. There can be no assurance that the Expansion will be ended spil proposed or at all.

“The Sweden Expansion represents an incredible scaling chance for HIVE,” commented Harry Pokrandt, Voorzitter, CEO and a Director. “It will achieve major growth ter hashpower capacity, our core business and the key infrastructure underlying blockchain technology. The fresh facilities will utilize the latest hardware, custom-designed by Genesis. Their expertise minimizes execution risk, enabling HIVE to benefit from a rapid speed to market and enlargened momentum.”

About HIVE Blockchain Technologies Ltd.

HIVE Blockchain Technologies Ltd. is a growth oriented, TSX.V-listed company building a bridge from the blockchain sector to traditional capital markets. HIVE is strategically partnered with Genesis Mining Ltd. to build the next generation of blockchain infrastructure. HIVE possesses state-of-the-art GPU-based cryptocurrency mining facilities ter Iceland, which produce mined cryptocurrency like Ethereum around the clock.

For more information and to register to HIVE’s mailing list, please visit www.HIVEblockchain.com, which has recently bot updated. Go after @HIVEblockchain on Twitter and subscribe to HIVE’s YouTube channel.

On Behalf Of HIVE Blockchain Technologies Ltd.

Harry Pokrandt, Voorzitter, CEO and Director

The Exchange has te no way passed upon the merits of the acquisition and has neither approved strafgevangenis disapproved the contents of this news release. Neither the Exchange strafgevangenis its Regulation Services Provider (spil that term is defined ter policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections spil at the date of this news release. “Forward-looking information” ter this news release includes information about the completion of the Suggesting, construction and acquisition of the Expansion at the Sweden Gegevens Centre, the quantum increase of hashpower spil a result of the Expansion of the Sweden Gegevens Centre, the business goals and objectives of the Company, and other forward-looking information includes but is not limited to information concerning the intentions, plans and future deeds of the parties to the transactions described herein and the terms thereon.

Factors that could cause actual results to differ materially from those described te such forward-looking information include, but are not limited to, risks related to completing the Suggesting (including regulatory approval), the construction, acquisition and operation of the Expansion at the Sweden Gegevens Centre, the ongoing partnership with Genesis, hashpower may not increase spil presently anticipated, the cryptocurrency market, the Company’s capability to successfully mine cryptocurrency, and other related risks spil more fully set out te the Filing Statement of the Company dated September 13, 2018.

The forward-looking information te this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information presently available to the Company. Ter connection with the forward-looking information contained ter this news release, the Company has made assumptions about the Company’s capability to accomplish the Suggesting and the Expansion, the Company’s ongoing partnership with Genesis, historical prices of cryptocurrencies and the capability of the Company to mine cryptocurrencies will be consistent with historical prices, and there will be no regulation or law that will prevent the Company from operating its business. The Company has also assumed that no significant events occur outside of the Company’s normal course of business. Albeit the Company believes that the assumptions inherent ter the forward-looking information are reasonable, forward-looking information is not a ensure of future spectacle and accordingly undue reliance should not be waterput on such information due to the inherent uncertainty therein.

Any forward-looking information speaks only spil of the date on which it is made and, except spil may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether spil a result of fresh information, future events or results or otherwise.

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