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HIVE Ethereum and Bitcoin Growth Plans for 2021

HIVE’s current Ethereum production is over 3,000 Gigahash per second (“GH/s”) and has the potential to almost double after card upgrades of over 5,500 GH/s by the end of December 2021, and our current Bitcoin production is 544 Petahash per second, which we expect to double by early September 2021 to 1.0 Exahash per second (“EH/s”) and double again by Christmas 2021 to 2.3 EH/s.  Based on current ETH and BTC prices and difficulty in mining our revenue could be US$30 million per month when we have all our machines installed and mining.

 (TSX.V:HIVE) (Nasdaq:HVBT) (FSE:HBF) (the “Company” or “HIVE”) is pleased to announce its long term high performance computing strategy beyond Ethereum 2.0.

Long Term ‘HPC’ – High Performance Computing Strategy

High performance GPU cards are key to HIVE’s long term strategy to build ‘HPC’ High Performance Data Centers which are growing in demand globally, while in the short term to be a more efficient Ethereum miner and to increase our hash power to produce more virgin Ether and HODL these assets on our balance sheet.  For the past year Ethereum is up 821% while Bitcoin has appreciated 270% and we believe over the next 2 years Ethereum could continue to outperform Bitcoin.  The Company is of the opinion that Ethereum 2.0 proof of stake will take at least another 2 years before Ethereum mining could become financially unattractive.  We believe the new high performing GPU cards will remain robust, extensible technology that can be scaled and repurposed for the boom in gaming, AI and movie animation, thus flexible and profitable for a HPC (high performance computing) data business strategy for at least another 5 years.  The Company HODLs its Ethereum in a cold wallet which results in a very liquid balance sheet asset.  Later in the Ethereum life cycle we may consider staking our virgin Ether for additional income.

ESG Strategy

We continue to review green energy opportunities and have turned down financially attractive mining deals because they are not using green energy. We are focused on renewable sources of electricity such as hydroelectric, geothermal, wind and solar. So far we are only using hydroelectric and geothermal sources of electricity in Sweden, Iceland and Canada.

Data Center Grade GPU Cards

HIVE has committed to purchase NVIDIA GPU’s with a total contract value of over US$66 million.  These cards will be delivered over the remaining months of calendar 2021 with deliveries arriving each month.  “HIVE has always had the ability to change course when required since being the first blockchain company to go public in 2017”, said Frank Holmes, Executive Chairman of HIVE.  Frank continued, “Our investment in NVIDIA GPU’s strengthens HIVE’s to remain nimble and gives us the power to pivot in this ever changing and dynamic industry.”

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