HIVE Blockchain Announces Upsize of Financing to $115 million Including Minimum Investment of $3 million by Genesis Mining

ZUG, SWITZERLAND and VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 15, 2017) -

Not for distribution to U.S. news wire services or dissemination in the United States

HIVE Blockchain Technologies Ltd. (TSX VENTURE:HIVE) (the "Company" or "HIVE"), is pleased to announce that, due to strong demand, it has entered into an amended agreement with GMP Securities L.P. on behalf of a syndicate of agents (together the "Agents") to increase the size of its previously announced financing to 36,507,900 units of the Company (the "Units") at a price of C$3.15 per Unit (the "Offering Price"), for aggregate gross proceeds of approximately C$115.0 million (the "Upsized Offering"). 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 $3.90 until November 14, 2019.

HIVE is also pleased to announce that Genesis Mining Ltd. ("Genesis"), an insider and the largest shareholder of the Company, will be participating for 952,380 Units of HIVE for a minimum investment of approximately C$3.0 million.

The Upsized Offering will take place by way of a private placement to accredited investors in such provinces of Canada as the Agents may designate, and otherwise in those jurisdictions where the Upsized Offering can lawfully be made on a private placement basis. The securities issued under the Upsized Offering will be subject to a four month and one day hold period from the date of issue in accordance with applicable securities laws in Canada, and potentially additional restrictions under the laws of other jurisdictions in which the Upsized Offering may be made.

This news release does not constitute an offer to sell the Units in the United States or to US persons. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, and they may not be offered or sold in the United States or to a US person unless an exemption from registration is available.

The net proceeds of the Upsized Offering are expected to be used to fund the completion of the Sweden Bitcoin Data Centre and the Phase 3 Expansion at the Sweden GPU Data Centre (as described in the Company's December 13, 2017 news release), and for general working capital purposes.

The Upsized Offering is expected to close in one or more tranches with the final closing expected to be December 29, 2017 (the "Closing Date"). Closing of the Upsized Offering 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 Exchange.