HIVE Digital Technologies Ltd 6-K, filed Oct 4, 2021

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of October, 2021

Commission File Number: 001-40398

Hive Blockchain Technologies Ltd. (Translation of registrant's name into English)

British Columbia, Canada (Jurisdiction of incorporation or organization)

Suite  855 -789 West Pender Street

Vancouver, BC

V6C 1H2

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

[  ] Form 20-F      [X] Form 40-F

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [  ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [  ]

EXHIBIT INDEX

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

99.1	Unaudited Condensed Interim Consolidated Financial Statements for the three months ended June 30, 2021
99.2	Management's Discussion and Analysis for the three months ended June 30, 2021
99.3	Form 52-109FV2 Certification of Interim Filings (CEO) dated October 1, 2021
99.4	Form 52-109FV2 Certification Interim Filings (CFO) dated October 1, 2021

SIGNATURES

HIVE BLOCKCHAIN TECHNOLOGIES LTD.
/s/ Darcy Daubaras
Name:	Darcy Daubaras
Title:	Chief Financial Officer

October 1, 2021

HIVE Blockchain Technologies Ltd.: Exhibit 99.1 - Filed by newsfilecorp.com

HIVE Blockchain Technologies Ltd.

Condensed Interim Consolidated Financial Statements

For the three months ended June 30, 2021 and 2020

(Expressed in US dollars)

(Unaudited)

NOTICE OF NO AUDITOR REVIEW

The accompanying unaudited condensed interim consolidated financial statements of HIVE Blockchain Technologies Ltd. (the "Company") have been prepared by and are the responsibility of the Company's management. In accordance with National Instrument 51-102, the Company discloses that its independent auditor has not performed a review of these condensed interim consolidated financial statements.

HIVE Blockchain Technologies Ltd. <br>Condensed Interim Consolidated Statements of Financial Position<br>(Expressed in US dollars unless otherwise indicated)<br>(Unaudited)
		June 30,			March 31,
---	---	---	---	---	---	---
		2021			2021
Assets
Current assets
Cash	$	26,911,842		$	40,290,513
Amounts receivable and prepaids (Note 9)		8,910,521			8,768,109
Investments (Note 8)		8,636,997			981,736
Digital currencies (Note 10)		82,157,798			57,499,720
		126,617,158			107,540,078
Data centre equipment (Note 11)		44,777,485			21,598,803
Deposits (Note 12)		58,559,958			45,532,751
Investment in sublease (Note 16)		35,133			76,744
Right of use asset (Note 16)		2,480,947			2,978,284
Intangible asset (Notes 6, 7)		14,954,429			604,070
Total assets	$	247,425,110		$	178,330,730
Liabilities and equity
Current liabilities
Accounts payable and accrued liabilities	$	4,561,137		$	3,478,137
Taxes payable		-			73,085
Current portion of lease liability (Note 16)		1,512,367			1,910,712
Current portion of term loan (Note 15)		2,273,208			-
Loans payable (Notes 5, 14, 25)		1,223,702			4,396,191
		9,570,414			9,858,125
Convertible loan - liability component (Note 13)		6,130,203			6,290,741
Convertible loan - derivative component (Note 13)		10,303,943			9,418,331
Term Loan (Note 15)		8,625,145			-
Loan payables (Notes 5, 14, 25)		17,137,393			17,137,393
Lease liability (Note 16)		942,671			1,153,127
Total liabilities		52,709,769			43,857,717
Equity
Share capital (Note 19)		299,212,817			259,905,407
Reserves and accumulated other comprehensive income		7,538,330			5,195,324
Deficit		(112,035,806	)		(130,627,718	)
Total equity		194,715,341			134,473,013
Total liabilities and equity	$	247,425,110		$	178,330,730

The accompanying notes are an integral part of these unaudited condensed interim consolidated financial statements

Page 1
HIVE Blockchain Technologies Ltd. <br>Condensed Interim Consolidated Statements of Income and Comprehensive Income<br>(Expressed in US dollars unless otherwise indicated)<br>(Unaudited)
---
		Three months period ended June 30,
---	---	---	---	---	---	---
		2021			2020
Revenue from digital currency mining (Note 10)	$	37,239,767		$	6,580,282
Cost of digital currency mining
Operating and maintenance costs		(6,220,684	)		(3,987,271	)
Depreciation (Notes 6, 11, 16)		(6,899,182	)		(1,629,869	)
		24,119,901			963,142
Revaluation of digital currencies (Note 10)		(3,426,017	)		1,325,864
Gain on sale of digital currencies (Note 10)		4,106,057			747,466
Hosting revenue		1,742,906			-
Expenses
General and administrative (Note 21)		(2,314,873	)		(944,560	)
Foreign exchange gain		528,868			217,525
Share-based compensation (Note 19)		(2,322,426	)		(395,989	)
		(4,108,431	)		(1,123,024	)
Unrealized loss on investments (Note 8)		(5,808,523	)		-
Change in fair value of derivative liability (Note 13)		(885,612	)		-
Gain on sale of subsidiary (Note 5)		3,171,275			-
Finance expense		(319,644	)		(114,754	)
Net income for the period	$	18,591,912		$	1,798,694
Other comprehensive income (loss)
Other comprehensive income (loss) to be reclassified to profit or loss in subsequent periods:
Translation adjustment		323,575			(516,897	)
		323,575			(516,897	)
Net income and comprehensive income for the period	$	18,915,487		$	1,281,797
Basic income per share	$	0.05		$	0.00
Diluted income per share	$	0.05		$	0.00
Weighted average number of common shares outstanding
Basic (Note 20)		376,609,984			367,151,232
Diluted (Note 20)		395,657,852			376,231,983

The accompanying notes are an integral part of these unaudited condensed interim consolidated financial statements

Page 2
HIVE Blockchain Technologies Ltd. <br>Condensed Interim Consolidated Statements of Changes in Equity<br>(Expressed in US dollars unless otherwise indicated)<br>(Unaudited)
---
	Share capital			Cumulative		Total
---	---	---	---	---	---	---
			Equity	translation		equity
	Shares issued	Amount	reserve	adjustment	Deficit	(deficiency)
At March 31, 2020	327,145,564	188,542,547	5,974,398	(263,108	(173,167,402	21,086,435
Share-based compensation	-	-	1,654,346	-	-	1,654,346
Shares offering	16,363,500	64,543,080	-	-	-	64,543,080
Share issuance costs	-	(1,842,480	-	-	-	(1,842,480
Quebec acquisition	15,000,000	2,458,470	-	-	-	2,458,470
Exercise of options	7,476,972	5,836,600	(2,056,713	-	-	3,779,887
Vesting of restricted stock units	1,626,000	342,742	(476,717	-	-	(133,975
Shares issued for services	100,000	24,448	-	-	-	24,448
Income for the year	-	-	-	-	42,539,684	42,539,684
Translation adjustment	-	-	-	363,118	-	363,118
At March 31, 2021	367,712,036	259,905,407	5,095,314	100,010	(130,627,718	134,473,013
Share-based compensation	-	-	1,816,191	-	-	1,816,191
Shares offering	2,378,400	7,554,266	-	-	-	7,554,266
Share issuance costs	-	(279,072	-	-	-	(279,072
Atlantic acquisition	5,000,000	18,874,701	-	-	-	18,874,701
Shares issued for investment	4,000,000	12,726,694	-	-	-	12,726,694
Exercise of options	79,423	196,730	(68,903	-	-	127,827
Vesting of restricted stock units	440,500	234,091	272,143	-	-	506,234
Income for the period	-	-	-	-	18,591,912	18,591,912
Translation adjustment	-	-	-	323,575	-	323,575
At June 30, 2021	379,610,359	299,212,817	7,114,745	423,585	(112,035,806	194,715,341

All values are in US Dollars.

The accompanying notes are an integral part of these unaudited condensed interim consolidated financial statements

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HIVE Blockchain Technologies Ltd. <br>Condensed Interim Consolidated Statements of Cash Flows<br>(Expressed in US dollars unless otherwise indicated)<br>(Unaudited)
---
		Three months period ended June 30,
---	---	---	---	---	---	---
		2021			2020
Operating activities
Income for the period:	$	18,591,912		$	1,798,694
Adjusted for:
Depreciation		6,899,182			1,629,869
Gain on sale of subsidiary		(3,171,275	)		-
Unrealized loss on investment		5,808,523			-
Change in fair value of derivative liability		885,612			-
Accretion on convertible debt - liability portion		589,462			-
Share-based compensation		2,322,426			395,989
Interest expense		64,995			111,652
Changes in non-cash working capital items:
Amounts receivable and prepaids		701,297			(2,137,687	)
Taxes payable		(73,085	)		(144,545	)
Digital currencies		(24,658,078	)		(2,964,379	)
Accounts payable and accrued liabilities		(2,554,959	)		1,826,608
Cash provided by operating activities		5,406,012			516,201
Investing activities
Deposits on equipment		(13,136,152	)		(137,819	)
Investments		(499,980	)		-
Quebec acquisition		-			(1,235,873	)
Purchase of mining equipment		(11,291,587	)		(2,309,260	)
Cash divested from sale of subsidiary		(237,254	)		-
Cash used in investing activities		(25,164,973	)		(3,682,952	)
Financing activities
Exercise of options		399,970			489,874
Shares offering		7,275,194			-
Repayment of debenture		(750,000	)		-
Lease payments made, net of lease payments received		(661,459	)		(507,629	)
Cash (used in) provided by financing activities		6,263,705			(17,755	)
Effect of exchange rate changes on cash		116,584			(702,911	)
Net change in cash during the period		(13,378,671	)		(3,887,417	)
Cash, beginning of period		40,290,513			5,130,127
Cash, end of period	$	26,911,842		$	1,242,710
Supplemental cash flow information
Share consideration issued for Quebec acquisition	$	-		$	2,458,470
Share consideration issued for Atlantic acquisition	$	18,694,219		$	-
Share consideration issued for investments	$	12,963,804		$	-
Supplemental disclosures:
Interest paid	$	286,047		$	-
Income taxes paid	$	-		$	-

The accompanying notes are an integral part of these unaudited condensed interim consolidated financial statements

Page 4
HIVE Blockchain Technologies Ltd. <br>Notes to the Condensed Interim Consolidated Financial Statements<br>For the three months ended June 30, 2021<br>(Expressed in US dollars unless otherwise indicated)<br>(Unaudited)
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1. Nature of Operations

HIVE Blockchain Technologies Ltd. (the "Company") was incorporated in the province of British Columbia on June 24, 1987.  The Company is a reporting issuer in each of the Provinces and Territories of Canada and is listed for trading on the TSXV, under the symbol "HIVE.V", as well on the Nasdaq's Capital Markets Exchange under "HIVE", and on the Open Market of the Frankfurt Stock Exchange under "HBF".  The Company's head office is located at Suite 855, 789 Pender Street, Vancouver, BC, V6C 1H2, and the Company's registered office is located at Suite 2500, 700 West Georgia Street, Vancouver, BC, V7Y 1B3.

In connection with the Company's change of business filed in September 2017 ("Change of Business"), the Company acquired digital currency mining data centre equipment in Iceland.  Following the initial acquisition, the Company acquired additional data centre equipment in Iceland and Sweden throughout fiscal 2018.  Phases one and two of Sweden commenced operations on January 15, 2018 and March 31, 2018 respectively, while phase three commenced operations on April 30, 2018.  On April 9, 2020 the Company also acquired a data centre in Quebec, Canada (Note 6). On April 15, 2021 the Company also acquired a data centre in New Brunswick, Canada (Note 7). The Company is in the business of providing infrastructure solutions, including the provision of computational capacity to distributed networks, in the blockchain industry.  The Company's operations are focused on the mining and sale of digital currencies.  Digital currencies are subject to risks unique to the asset class and different from traditional assets.  Additionally, at times assets may be held by third party custodians or exchanges that are limited in oversight by regulatory authorities.

The negative impact on the global supply chain related to the COVID-19 pandemic has presented challenges to the Company including increased shipping costs and obtaining equipment from China on a timely basis that has led to delays. Additionally, the Company faces uncertainty in the availability of equipment from suppliers as it relates to the Company's ASIC equipment.

2. Basis of Presentation

(a) Statement of Compliance

These unaudited condensed interim consolidated financial statements have been prepared in accordance with IAS 34, "Interim Financial Reporting of the International Financial Reporting Standards" ("IFRS") as issued by the International Accounting Standards Board ("IASB") and follow the same accounting policies and methods of application as the Company's March 31, 2021 annual audited financial statements, unless otherwise noted.  Accordingly, they should be read in conjunction with the Company's most recent annual statements.

The consolidated financial statements have been prepared on a historical cost basis except for some financial instruments that have been measured at fair value.

The Company is in the business of the mining and sale of digital currencies, many aspects of which are not specifically addressed by current IFRS guidance. The Company is required to make judgements as to the application of IFRS and the selection of accounting policies. The Company has disclosed its presentation, recognition and derecognition, and measurement of digital currencies, and the recognition of revenue as well as significant assumptions and judgements; however, if specific guidance is enacted by the IASB in the future, the impact may result in changes to the Company's earnings and financial position as presented.

These consolidated financial statements were approved and authorized for issuance by the Board of Directors on October 1, 2021.

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HIVE Blockchain Technologies Ltd. <br>Notes to the Condensed Interim Consolidated Financial Statements<br>For the three months ended June 30, 2021<br>(Expressed in US dollars unless otherwise indicated)<br>(Unaudited)
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2. Basis of Presentation (continued…)

(b) Consolidation

These unaudited condensed interim consolidated financial statements include the financial statements of the Company and its wholly-owned subsidiaries, which are controlled by the Company (the "Group"). Control is achieved when the parent company is exposed, or has rights, to variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee. Specifically, the Group controls an investee if, and only if, the Group has all of the following: (i) power over the investee (i.e. existing rights that give it the current ability to direct the relevant activities of the investee); (ii) exposure, or rights, to variable returns from its involvement with the investee; and (iii) the ability to use its power over the investee to affect its returns.

The financial statements of subsidiaries are included in these consolidated financial statements from the date that control commences until the date that control ceases. All significant inter-company transactions, balances, income and expenses are eliminated on consolidation.

As of June 30, 2021, the Company had the following wholly owned subsidiaries: HIVE Blockchain Switzerland AG, Bikupa Datacenter AB, Bikupa Datacenter 2 AB, Hive Digital Data Ltd., 9376-9974 Quebec Inc., and GPU Atlantic Inc.  HIVE Blockchain Switzerland AG had one wholly owned subsidiary, HIVE Blockchain Iceland ehf.

(c) Presentation and functional currency

Foreign currency transactions are recorded at the exchange rate as at the date of the transaction. At each statement of financial position date, monetary assets and liabilities are translated using the year end foreign exchange rate. Non-monetary assets and liabilities in foreign currencies other than the functional currency are translated using the historical rate. All gains and losses on translation of these foreign currency transactions are included in the profit and loss.  The functional currency for HIVE Blockchain Technologies Ltd. is the Canadian dollar, and it is the US dollar for its other wholly owned subsidiaries.

(d) Comprehensive income (loss)

Total comprehensive income (loss) comprises all components of profit or loss and other comprehensive income (loss). Other comprehensive income (loss) includes gains and losses from translating the financial statements of an entity's whose functional currency differs from the presentation currency.

(e) Goodwill

Goodwill represents the excess of the purchase price paid for the acquisition over the fair value of the net tangible and intangible assets acquired. Following the initial recognition, goodwill is measured at cost less and accumulated impairment losses.

Goodwill has an indefinite useful life, is not subject to amortization and is tested for annually for any impairment, or more frequently in the case that events or circumstances indicate that they may be impaired.

Page 6
HIVE Blockchain Technologies Ltd. <br>Notes to the Condensed Interim Consolidated Financial Statements<br>For the three months ended June 30, 2021<br>(Expressed in US dollars unless otherwise indicated)<br>(Unaudited)
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3. Significant Judgements

(a) Functional currency

The functional currency of the Company has been assessed by management based on consideration of the currency and economic factors that mainly influence the Company's digital currencies, production and operating costs, financing and related transactions. Specifically, the Company considers the currencies in which digital currencies are most commonly denominated and the currencies in which expenses are settled, by each entity, as well as the currency in which each entity receives or raises financing.  Changes to these factors may have an impact on the judgment applied in the determination of the Company's functional currency.

(b) Digital assets - accounting

The Company has assessed that it acts in a capacity as a commodity broker trader as defined in IAS 2, Inventories, in characterizing certain of its holdings as inventory, or more specifically, digital assets.  If assets held by commodity broker-traders are principally acquired for the purpose of selling in the near future and generating a profit from fluctuations in price or broker-traders' margin, such assets are accounted for as inventory, and changes in fair value (less costs to sell) are recognized in profit or loss.

(c) Assessment of transactions as an asset acquisition or business combination

Management determines whether assets acquired and liabilities assumed constitute a business.  A business consists of inputs and processes applied to those inputs that have the ability to create outputs. Whether an acquisition is classified as a business combination or asset acquisition can have a significant impact on the presentation made on and after acquisition.

The Company completed the Quebec Acquisition in April 2020 (Note 6) and the Atlantic Acquisition in April 2021 (Note 7) and concluded that both entities acquired qualified as a business combination under IFRS 3, "Business Combinations". Accordingly, the Quebec Acquisition and the Atlantic Acquisition have been accounted for as a business acquisition.

(d) Income from digital currency mining

The Company recognizes income from digital currency mining from the provision of transaction verification services within digital currency networks, commonly termed "cryptocurrency mining".  As consideration for these services, the Company receives digital currency from each specific network in which it participates ("coins").  Income from digital currency mining is measured based on the fair value of the coins received.  The fair value is determined using the spot price of the coin on the date of receipt.  The coins are recorded on the statement of financial position, as digital currencies, at their fair value less costs to sell and re-measured at each reporting date.  Revaluation gains or losses, as well as gains or losses on the sale of coins for traditional (fiat) currencies are included in profit and loss in accordance with the Company's treatment of its digital currencies as a traded commodity.

There is currently no specific definitive guidance in IFRS or alternative accounting frameworks for the accounting for the mining and strategic selling of digital currencies and management has exercised significant judgement in determining appropriate accounting treatment for the recognition of income from digital currency mining for mining of digital currencies.  Management has examined various factors surrounding the substance of the Company's operations, including the stage of completion being the completion and addition of a block to a blockchain and the reliability of the measurement of the digital currency received.

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HIVE Blockchain Technologies Ltd. <br>Notes to the Condensed Interim Consolidated Financial Statements<br>For the three months ended June 30, 2021<br>(Expressed in US dollars unless otherwise indicated)<br>(Unaudited)
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3. Significant Judgements (continued…)

(e) Contingencies

Contingencies can be either possible assets or liabilities arising from past events which, by their nature, will be resolved only when one or more uncertain future events occur or fail to occur.  Such contingencies include, but are not limited to, litigation, regulatory proceedings, tax matters and losses resulting from other events and developments.  The assessment of the existence and potential impact of contingencies inherently involves the exercise of significant judgement regarding the outcome of future events.

4. Significant Estimates

(a) Determination of asset and liability fair values and allocation of purchase consideration

Significant acquisitions require judgements and estimates to be made at the date of acquisition in relation to determining the relative fair value of the allocation of the purchase consideration over the fair value of the assets. The information necessary to measure the fair values as at the acquisition date of assets acquired requires management to make certain judgements and estimates about future performance of these assets.

(b) Carrying value of assets

The Company evaluates each asset or cash generating unit every reporting period to determine whether there are any indications of impairment. If any such indication exists, which is often judgmental, a formal estimate of recoverable amount is performed and an impairment loss is recognized to the extent that the carrying amount exceeds the recoverable amount. The recoverable amount of an asset or cash generating group of assets is measured at the higher of fair value less costs to sell and value in use. The evaluation of asset carrying values for indications of impairment includes consideration of both external and internal sources of information, including such factors as the relationship between mining rewards and the required computing power, digital currency prices, the periodic contribution margin of digital currency mining activities, changes in underlying costs, such as electricity, and technological changes. The estimates and assumptions are subject to risk and uncertainty; hence, there is the possibility that changes in circumstances will alter these projections, which may impact the recoverable amount of the assets. In such circumstances some or all of the carrying value of the assets may be further impaired or the impairment charge reduced with the impact recorded in profit and loss.

(c) Depreciation

Depreciation of data centre equipment is an estimate of its expected life.  In order to determine the useful life of computing equipment, assumptions are required about a range of computing industry market and economic factors, including required hashrates, technological changes, availability of hardware and other inputs, and production costs.

(d) Deferred and current taxes

The determination of the Company's tax expense for the year and deferred tax assets and liabilities involves significant estimation and judgement by management. In determining these amounts, management interprets tax legislation in a variety of jurisdictions and makes estimates of the expected timing of the reversal of deferred tax assets and liabilities, the deferral and deductibility of certain items and interpretation of the treatment for tax purposes of digital currencies by taxation authorities. Management also makes estimates of future earnings, which affect the extent to which potential future tax benefits may be used. The Company is subject to assessments by various taxation authorities, which may interpret legislation differently. These differences may affect the final amount or the timing of the payment of taxes. The Company provides for such differences where known based on management's best estimate of the probable outcome of these matters.

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HIVE Blockchain Technologies Ltd. <br>Notes to the Condensed Interim Consolidated Financial Statements<br>For the three months ended June 30, 2021<br>(Expressed in US dollars unless otherwise indicated)<br>(Unaudited)
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4. Significant Estimates (continued…)

(e) Digital currency valuation

Digital currencies consist of cryptocurrency denominated assets (Note 10) and are included in current assets.  Digital currencies are carried at their fair value determined by the spot rate less costs to sell.  The digital currency market is still a new market and is highly volatile; historical prices are not necessarily indicative of future value; a significant change in the market prices for digital currencies would have a significant impact on the Company's earnings and financial position.  Fair value is determined by taking the price of the coins at 2400 hours (per the Central European Time zone) from the exchanges which the Company most frequently uses.

(f) Share-based compensation

The Company utilizes the Black-Scholes Option Pricing Model ("Black-Scholes") to estimate the fair value of stock options granted to directors, officers, employees, consultants and charities. The use of Black-Scholes requires management to make various estimates and assumptions that impact the value assigned to the stock options including the forecast future volatility of the stock price, the risk-free interest rate, dividend yield and the expected life of the stock options. Any changes in these assumptions could have a material impact on the share-based compensation calculation value, however the most significant estimate is the volatility.  Expected future volatility can be difficult to estimate as the Company has a limited operating history and is in an emerging industry with no comparable publicly traded competitors at the time of grant. Due to the emerging nature of the industry, volatility estimates require significant estimates. The Company estimated volatility based on historic share prices of companies operating in emerging innovative industries. Historical volatility is not necessarily indicative of future volatility.

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HIVE Blockchain Technologies Ltd. <br>Notes to the Condensed Interim Consolidated Financial Statements<br>For the three months ended June 30, 2021<br>(Expressed in US dollars unless otherwise indicated)<br>(Unaudited)
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5. Norway Acquisition

In May 2018, the Company completed the acquisition of two entities in Norway (the "Norway Acquisition"), Liv Eiendom AS ("Liv Eiendom") and Kolos Norway AS ("Kolos").

As consideration for the acquisition, the Company made cash payments of 55,576,560 Norwegian Kroner ("NOK") (US$6,902,498) to the former shareholders of Kolos, issued 4,750,000 common shares, issued 1,250,000 warrants exercisable at C$1.24 for a period of five years and incurred cash transaction costs of $428,127 related to the acquisition.

On May 10, 2021, the Company completed the sale of the net assets of Kolos Norway AS:

Net liability disposed of	$	3,371,275
Less: Payment to acquirer		(200,000	)
Gain on disposal	$	3,171,275

The following are balance sheet items that were derecognized in the sale of the subsidiary:

		May 10, 2021
Assets
Current assets
Cash and equivalents	$	37,254
Amounts receivable and prepaids		878
Total assets	$	38,132
Liabilities and equity
Current liabilities
Accounts payable and accrued liabilities	$	82,540
Loans payable		3,326,867
Total liabilities		3,409,407
Net Assets	$	(3,371,275	)
Page 10
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HIVE Blockchain Technologies Ltd. <br>Notes to the Condensed Interim Consolidated Financial Statements<br>For the three months ended June 30, 2021<br>(Expressed in US dollars unless otherwise indicated)<br>(Unaudited)
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6. Quebec Acquisition

On April 8, 2020, the Company completed the acquisition of 100% of the common shares of 9376-9974 Quebec Inc. ("9376"), a cryptocurrency mining operation located in Lachute, Quebec from Cryptologic Corp.

In consideration for 100% of the common shares of 9376, the Company paid total consideration of $3,738,809 consisting of:

(i) Issuance of 15,000,000 common shares on closing valued at a price of C$0.23 per common share for a total of $2,458,470 (C$3,450,000); and

(ii) Cash payment of $1,235,873 (C$1,734,315) and holdback of $44,466.

The allocation of the total purchase price to the net assets acquired is as follows:

Prepaid expenses	$	719,699
Data Centre Equipment (Note 11)		2,322,077
Right of use asset (Note 16)		2,469,327
Intangible asset*		872,545
Accounts Payable		(175,512	)
Lease liability		(2,469,327	)
Net assets acquired	$	3,738,809
Cash paid		1,235,873
Shares issued		2,458,470
Holdback payable		44,466
Total consideration	$	3,738,809

*Intangible asset relates to favourable supply arrangements acquired as part of the business acquisition and is being amortized over the term of the existing facility lease.

7. Atlantic Acquisition

On April 15, 2021, the Company completed the acquisition of 100% of the common shares of GPU Atlantic. In consideration for 100% of GPU Atlantic, the Company paid total consideration of 5,000,000 common shares on closing valued at a total of $18.7 million (C$23.7 million). 1,000,000 of the common shares were allocated to a holdback and to GPU One earn-out upon delivery of certain earn-out conditions.

GPU Atlantic has a 50-megawatt data centre campus located in New Brunswick, Canada.

Page 11
HIVE Blockchain Technologies Ltd. <br>Notes to the Condensed Interim Consolidated Financial Statements<br>For the three months ended June 30, 2021<br>(Expressed in US dollars unless otherwise indicated)<br>(Unaudited)
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7. Atlantic Acquisition (continued…)

Current assets	$	671,709
Data centre equipment		12,898,994
Land		662,910
Buiding		4,576,290
Sales taxes refunds		75,780
Intangible assets		3,947,481
Goodwill		10,469,997
Accounts payable		(3,198,591	)
Long term debt		(11,410,351	)
Net Assets Acquired	$	18,694,219
Consideration paid		18,694,219
Total Consideration	$	18,694,219

As part of the transaction, the Company also acquired a $10,898,353 (C$13,639,249) term loan (Note 15) included in the long-term debt acquired.

The purchase price allocation for acquisitions reflects various fair value estimates which are subject to change within the measurement period. The primary areas of purchase price allocation that are subject to change relate to the fair values of certain tangible assets, the valuation of intangible assets acquired, and residual goodwill. Measurement period adjustments that the Company determines to be material will be applied retrospectively to the period of acquisition in the Company's consolidated financial statements and, depending on the nature of the adjustments, other periods subsequent to the period of acquisition could also be affected. The Company expects to finalize the accounting for the acquisition by March 31, 2022.

8. Investments

The Company's investment holdings that are not traded in active markets by the Company are considered investments.  Investments are accounted for as financial assets which are initially recognized at fair value and subsequently measured through fair value through profit or loss

On April 21, 2021, the Company completed a share swap transaction with DeFi Technologies Inc. ("DeFi Technologies"), pursuant to which HIVE received 10,000,000 common shares of DeFi Technologies, in exchange for 4,000,000 common shares of the Company, valued at C$16.0 million.

As at June 30, 2021, in addition to the investment of Defi Technologies, the Company holds a number of non-material investments in both private and public companies. Investments were valued at $8,636,997 (March 31, 2021 - $981,736).

Realized gain on the sale of investments during the period ended June 30, 2021 was $nil (June 30, 2020 - $nil).

Unrealized loss on investments during the period ended June 30, 2021 was $5,808,523 (June 30, 2020 - $nil)

Page 12
HIVE Blockchain Technologies Ltd. <br>Notes to the Condensed Interim Consolidated Financial Statements<br>For the three months ended June 30, 2021<br>(Expressed in US dollars unless otherwise indicated)<br>(Unaudited)
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9. Amounts Receivable and Prepaids

		June 30, 2021		March 31, 2021
Sales tax receivable	$	3,313,572	$	3,586,643
Prepaid expenses and other receivables		2,337,981		1,922,498
Energy tax receivable		1,443,004		1,443,004
Receivable on sale of subsidiary*		1,815,964		1,815,964
Total	$	8,910,521	$	8,768,109

* Receivable is conditional upon ruling by the by the Swedish Tax Authority related to an ongoing value added tax process. If the ruling is favourable then the amounts will be received; otherwise the amounts will not be collectible.  Management has assessed the collectibity using a probability model under a range of scenarios and this receivable reflects the results of that process.

10. Digital Currencies

As at June 30, 2021, the Company's digital currencies consisted of the below digital currencies, with a fair value of $82,157,798 (March 31, 2021 - $57,499,720).  Digital currencies are recorded at their fair value on the date they are received as income from digital currency mining, and are revalued to their current market value less costs to sell at each reporting date.

The Company's holdings of digital currencies consist of the following:

		June 30, 2021		March 31, 2021
Ethereum	$	63,061,322	$	38,640,733
Ethereum Classic		93,695		-
Bitcoin		19,002,781		18,858,987
Total	$	82,157,798	$	57,499,720

The continuity of digital currencies was as follows:

		June 30, 2021			March 31, 2021
Opening balance	$	57,499,720		$	3,455,756
Digital currency mined		37,239,767			66,697,924
Digital assets received		-			1,057,334
Digital currency sold		(9,705,262	)		(38,437,132	)
Revaluation adjustment		(2,876,427	)		24,725,838
Ending balance	$	82,157,798		$	57,499,720

During the period ended June 30, 2021 the Company sold digital currencies for proceeds totalling $13,811,319 (June 30, 2020 - $6,400,887) with a cost of $9,705,262 (June 30, 2020 - $5,653,421), and recorded a gain on sale of $4,106,057 (June 30, 2020 - gain of $747,466).

Page 13
HIVE Blockchain Technologies Ltd. <br>Notes to the Condensed Interim Consolidated Financial Statements<br>For the three months ended June 30, 2021<br>(Expressed in US dollars unless otherwise indicated)<br>(Unaudited)
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11. Data Centre Equipment

Cost		Data Centres
Balance, March 31, 2020	$	82,284,690
Quebec acquisition (Note 6)		2,322,077
Additions		20,924,181
Balance, March 31, 2021		105,530,948
Atlantic acquisition (Note 7)		18,138,194
Additions		11,374,258
Balance, June 30, 2021	$	135,043,400
Accumulated depreciation and impairment
Balance, March 31, 2020	$	75,868,990
Depreciation		8,063,155
Balance, March 31, 2021		83,932,145
Depreciation		6,333,770
Balance, June 30, 2021	$	90,265,915
Carrying amount
Balance, March 31, 2021	$	21,598,803
Balance, June 30, 2021	$	44,777,485

12. Deposits

The Deposits at June 30, 2021 and March 31, 2021 relate to required amounts on account with electricity providers in Sweden and deposit for equipment purchases, consisting of:

Description		June 30, 2021		March 31, 2021
Vattenfall AB	$	1,589,377	$	1,494,617
Bodens Energi		770,387		724,456
Equipment Deposits		56,200,194		43,313,678
Total	$	58,559,958	$	45,532,751

13. Convertible Loan

On January 12, 2021, the Company closed its non-brokered private placement of unsecured debentures (the "Debentures"), for aggregate gross proceeds of $15,000,000 with U.S. Global Investors, Inc. ("U.S. Global").  The Interim Executive Chairman of the Company is a director, officer and controlling shareholder of U.S. Global.

The Debentures mature on the date that is 60 months from the date of issuance, bearing interest at a rate of 8% per annum.  The Debentures will be issued at par, with each Debenture being redeemable by the Company at any time, and convertible at the option of the holder into common shares (each, a "Share") in the capital of the Company at a conversion price of CAD$3.00 per Share.  Interest will be payable monthly and principal will be payable quarterly.  In addition, U.S. Global was issued 5.0 million common share purchase warrants (the "Warrants"). Each whole Warrant entitles U.S. Global to acquire one common at an exercise price of CAD$3.00 per Share for a period of three years from closing.

Page 14
HIVE Blockchain Technologies Ltd. <br>Notes to the Condensed Interim Consolidated Financial Statements<br>For the three months ended June 30, 2021<br>(Expressed in US dollars unless otherwise indicated)<br>(Unaudited)
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13. Convertible Loan (continued…)

The Company determined that the Convertible Loan contained an embedded derivative and that the conversion feature does not qualify as equity as it does not satisfy the "fixed for fixed" requirement as the number of potential common shares to be issued is contingent on a variable carrying amount for the financial liability. The financial liability is variable because the functional currency of Hive Blockchain Technologies Ltd. is Canadian dollars and the Convertible Loan is denominated in US dollars, therefore the amount of common shares to be issued depends on the foreign exchange rate at the date of settlement. Consequently, the conversion feature is classified as a derivative liability.

The Company allocated the proceeds of $15,000,000 first to derivative component for $8,560,630, with the residual value to the the liabliity component for $6,439,370. The derivative component was valued on initial recognition using the Black-Scholes option pricing model with the following assumptions: a risk-free interest rate of 0.69%; an expected volatility of 105%; an expected life of 2.71 years; a forfeiture rate of zero; and an expected dividend of zero.

Liability Component

Balance, March 31, 2020	$	-
Value on initial recognition		6,439,370
Principal payment		(658,333	)
Accretion		509,704
Balance, March 31, 2021		6,290,741
Principal payment		(750,000	)
Accretion		589,462
Balance, June 30, 2021	$	6,130,203

Derivative Component

Balance, March 31, 2020	$	-
Value on initial recognition		8,560,630
Change in fair value of liability		857,702
Balance, March 31, 2021		9,418,331
Change in fair value of liability		885,612
Balance, June 30, 2021	$	10,303,943

The derivative component is re-valued each reporting period. As at June 30, 2021, the derivative component was revalued at $10,303,943 (March 31, 2021 - $9,418,331) using the Black-Scholes option pricing model with the following assumptions: a risk-free interest rate of 1.75%; an expected volatility of 105%; an expected life of 2.63 years; a forfeiture rate of zero; and an expected dividend of zero. Accordingly, the Company recorded a change in the fair value of the derivative liability of $885,612.

Page 15
HIVE Blockchain Technologies Ltd. <br>Notes to the Condensed Interim Consolidated Financial Statements<br>For the three months ended June 30, 2021<br>(Expressed in US dollars unless otherwise indicated)<br>(Unaudited)
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14. Loans Payable

As part of the Norway Acquisition (Note 5) the Company assumed loans with a principal balance of $2,559,599 (NOK 20,915,000). The loans from the Norway Acquisition are in default as at March 31, 2021. On May 10, 2021, the Company sold the Norway subsidiary (Note 5). A continuity of the loan balance from the date of the Norway Acquisition to March 31, 2021 is as follows:

		Norway			Boden			Total
		(Notes 5)			(Note 25)
Balance - March 31, 2020		2,713,073			-			2,713,073
Additions (Note 25)		-			18,361,495			18,361,495
Interest		207,678			-			207,678
Foreign exchange movement		251,338			-			251,338
Balance - March 31, 2021		3,172,089			18,361,495			21,533,584
Interest		25,133			-			25,133
Foreign exchange movement		129,645			-			129,645
Sale of Norway subsidiary (Note 5)		(3,326,867	)		-			(3,326,867	)
Balance - June 30, 2021		-			18,361,495			18,361,495
Less: Current portion		-			(1,224,102	)		(1,224,102	)
Non-current portion	$	-		$	17,137,393		$	20,309,482

15. Term Loan

As part of the Atlantic acquisition (Note 7), the Company acquired a $10,898,353 (C$13,639,249) term loan. The facility bears interest at 3.33% per annum and has a maturity date of February 28, 2022. Principal payment of C$189,434 plus interest is payable monthly. The current portion of the loan was $2,273,208.

Page 16
HIVE Blockchain Technologies Ltd. <br>Notes to the Condensed Interim Consolidated Financial Statements<br>For the three months ended June 30, 2021<br>(Expressed in US dollars unless otherwise indicated)<br>(Unaudited)
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16. Right of Use Asset and Lease Liability

The Company adopted a new lease standard and recognized $360,361 of lease liability on April 1, 2019. The lease liability was measured at the present value of the remaining lease payments of $360,361 as of April 1, 2019, discounted using an incremental borrowing rate of that date of 6%. The Company recorded a right of use asset of the same amount which relates to its long-term office lease. Depreciation of the right of use asset is calculated using the straight-line method over the remaining lease term.

During the period ended June 30, 2021, the Company recognized interest expense on the lease liability of $40,881 (June 30, 2020 - $66,306) which was recorded within finance expense.

Cost		Right of Use Assets
Balance, March 31, 2020	$	2,790,800
Additions (Note 6)		2,469,327
Foreign exchange		493,001
Balance, March 31, 2021	$	5,753,128
Foreign exchange		200,983
Balance, June 30, 2021	$	5,954,111
Accumulated Depreciation
Balance, March 31, 2020	$	(550,526	)
Depreciation		(2,181,512	)
Foreign exchange		(42,806	)
Balance, March 31, 2021	$	(2,774,844	)
Depreciation		(580,962	)
Foreign exchange		(117,358	)
Balance, June 30, 2021	$	(3,473,164	)
Carrying Amount
Balance, March 31, 2021	$	2,978,284
Balance, June 30, 2021	$	2,480,947
Page 17
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HIVE Blockchain Technologies Ltd. <br>Notes to the Condensed Interim Consolidated Financial Statements<br>For the three months ended June 30, 2021<br>(Expressed in US dollars unless otherwise indicated)<br>(Unaudited)
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16. Right of Use Asset and Lease Liability (continued…)

		Lease Liability
Balance, March 31, 2020	$	2,343,938
Additions (Note 6)		2,469,327
Lease payments made		(2,561,297	)
Interest expense on lease liabilities		236,600
Foreign exchange		575,271
Balance, March 31, 2021	$	3,063,839
Lease payments made		(704,089	)
Interest expense on lease liabilities		40,881
Foreign exchange		54,407
		2,455,038
Less: current portion		(1,512,367	)
Balance, June 30, 2021	$	942,671
Lease Disclosures
Interest expense on lease liabilities	$	40,881
Income from sub-leasing	$	1,019
Total cash outflow for leases	$	704,089
Maturity Analysis - Undiscounted Contractual Payments
Less than 1 year	$	1,598,563
1 to 2 years	$	968,160
	$	2,566,723

During the year ended March 31, 2020, the Company sub-leased the office space to an arm's length tenant.  The Company has recorded a net investment in sublease of $360,361 measured at either an amount equal to the leased asset or the carrying amount as if IFRS 16 had been applied since the commencement date, discounted using the incremental borrowing rate on April 1, 2019. The following is a reconciliation of the changes in the net investment in sublease:

Balance, March 31, 2020	$	234,152
Lease accretion		9,786
Receipts		(167,194	)
Balance, March 31, 2021	$	76,744
Lease accretion		1,019
Receipts		(42,630	)
Balance, June 30, 2021	$	35,133
Page 18
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HIVE Blockchain Technologies Ltd. <br>Notes to the Condensed Interim Consolidated Financial Statements<br>For the three months ended June 30, 2021<br>(Expressed in US dollars unless otherwise indicated)<br>(Unaudited)
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17. Commitments and Contingencies

(a) Service agreements

The Company has a service agreement to operate and maintain their data centre computing equipment for the purpose of mining crypto currency on the cloud.  As part of the arrangement, proprietary software is installed on the Company's computing equipment to assist in optimizing the use of the equipment.

(b) Power purchase agreement

The Company has a supplemental power pricing arrangement that was entered into in order to fix 12 MW of electricity consumption each month at a set price.  The fixed price agreement was assessed and is being accounted for as an executory contract whereby the monthly electricity costs are expensed as incurred.

(c) Capital and other commitments:

There were no capital or other commitments at the current or prior year end in addition to the commitments disclosed above.

(d) Obligations on Mining equipment

The Company had purchase commitments of $38,511,100.

18. Related Party Transactions

The Company had the following related party transactions not otherwise disclosed in these consolidated financial statements:

a) As at June 30, 2021, the Company had $41,149 (March 31, 2020 - $182,787) due to directors for the reimbursement of expenses included in accounts payable and accrued liabilities.

Key Management Compensation

Key management personnel include those persons having authority and responsibility for planning, directing and controlling the activities of the Company as a whole. The Company has determined that key management personnel consist of members of the Company's Board of Directors and corporate officers.

For the period ended June 30, 2021, key management compensation includes salaries and wages paid to key management personnel and directors of $140,547 (June 30, 2020 - $216,443) and share-based payments of $1,078,380 (June 30, 2020 - $371,602).

Page 19
HIVE Blockchain Technologies Ltd. <br>Notes to the Condensed Interim Consolidated Financial Statements<br>For the three months ended June 30, 2021<br>(Expressed in US dollars unless otherwise indicated)<br>(Unaudited)
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19. Equity

(a) Authorized

Unlimited common shares without par value

Unlimited preferred shares without par value

(b) Issued and fully paid common shares

During the period ended June 30, 2021, the Company:

• Issued 79,423 common shares for proceeds of C$158,846 ($127,827) pursuant to the exercise of 79,423 options at a price of C$2.00 per option.
• Issued 440,500 common shares with a value of $506,234 pursuant to the vesting of 440,500 restricted share-units.  An amount of $272,143 was reallocated from reserves to share capital in connection with the vesting of these restricted share-units
• Issued 2,378,400 common shares (the "ATM Shares") pursuant to the ATM Equity Program for proceeds of C$9,306,469 ($7,554,266).  The ATM Shares were sold at prevailing market prices, for an average price per ATM Share of C$3.91.  Pursuant to the Equity Distribution Agreement associated with the Equity Distribution Agreement, a cash commission of $226,627 on the aggregate gross proceeds raised was paid to the agent in connection with its services under the Equity Distribution Agreement.
• Subsequent to the period ended June 30, 2021, the Company issued 4,980,000 common shares (the "ATM Shares") pursuant to the ATM Equity Program for proceeds of C$19,161,593 ($15,234,265).  The ATM Shares were sold at prevailing market prices, for an average price per ATM Share of C$3.85.  Pursuant to the Equity Distribution Agreement, a cash commission of $457,030 on the aggregate gross proceeds raised was paid to the agent in connection with its services under the Equity Distribution Agreement.

During the year ended March 31, 2021, the Company:

• Issued 15,000,000 common shares with a value of C$3,450,000 ($2,458,470) to Cryptologic Corp. in connection to the acquisition of 9376-9974 Quebec Inc.
• Issued 100,000 common shares with a value of C$22,875 ($24,448) to a contractor in exchange for services completed.
• Issued 1,626,000 common shares with a value of $584,244 pursuant to the vesting of 1,626,000 restricted share-units.  An amount of $241,502 was reallocated from reserves to share capital in connection with the vesting of these restricted share-units
• Issued 7,476,972 common shares for proceeds of C$4,673,819 ($3,779,887) pursuant to the exercise of 187,500 options at a price of C$0.29, 5,625,000 options at a price of C$0.30 per option, 300,000 options at a price of C$0.62 per option, 1,344,472 options at a price of C$2.00 per option, and 20,000 options at a price of C$2.85 per option.  An amount of $2,056,713 was reallocated from reserves to share capital in connection with the exercise of these options.
• Issued 16,363,500 common shares (the "ATM Shares") pursuant to the ATM Equity Program for proceeds of C$81,726,582 ($64,543,080).  The ATM Shares were sold at prevailing market prices, for an average price per ATM Share of C$4.99.  Pursuant to the Equity Distribution Agreement , a cash commission of $1,842,480 on the aggregate gross proceeds raised was paid to the agent in connection with its services under the Equity Distribution Agreement.

As at June 30, 2021 no common shares were held in escrow.

Page 20
HIVE Blockchain Technologies Ltd. <br>Notes to the Condensed Interim Consolidated Financial Statements<br>For the three months ended June 30, 2021<br>(Expressed in US dollars unless otherwise indicated)<br>(Unaudited)
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19. Equity (continued…)

(c) Stock options

The Company has established a rolling Stock Option Plan (the "Plan"). Under the Plan, the number of shares reserved for issuance may not exceed 10% of the total number of issued and outstanding shares and, to any one optionee, may not exceed 5% of the issued shares on a yearly basis. The maximum term of each option shall not be greater than 10 years. The exercise price of each option shall not be less than the market price of the Company's shares at the date of grant. Options granted to Consultants performing Investor Relations activities shall vest over a minimum of 12 months with no more than 1/4 of such options vesting in any 3-month period. All other options vest at the discretion of the Board of Directors.

Following is a summary of changes in stock options outstanding for the period ended June 30, 2021:

				Weighted average
	Outstanding			exercise price
Balance, March 31, 2020	20,893,168		C$	0.57
Granted	1,138,000			4.52
Forfeited	(1,000,000	)		0.62
Exercised	(7,476,972	)		0.63
Balance, March 31, 2021	13,554,196		C$	0.87
Granted	775,000			3.93
Exercised	(79,423	)		2.00
Balance, June 30, 2021	14,249,773		C$	1.03

The stock options outstanding and exercisable as at June 30, 2021, are as follows:

Outstanding	Exercisable	Exercise price		Expiry date
676,502	676,502	C$	0.30	September 14, 2022
10,000	-		3.14	February 11, 2026
50,000	10,000		2.99	June 4, 2026
5,075,000	5,075,000		0.30	September 14, 2027
1,042,771	1,042,771		2.00	October 11, 2027
250,000	250,000		2.00	March 26, 2028
2,000,000	2,000,000		0.62	September 18, 2028
500,000	500,000		0.27	December 21, 2028
2,812,500	1,757,812		0.29	February 10, 2030
100,000	50,000		0.38	May 29, 2030
8,000	8,000		2.16	December 24, 2030
1,000,000	125,000		5.00	February 23, 2031
175,000	-		5.03	April 6, 2031
550,000	-		3.67	April 29, 2031
14,249,773	11,495,085

Subsequent to June 30, 2021, the Company issued 136,154 common shares for proceeds of C$144,808 from the exercise of stock options.

Page 21
HIVE Blockchain Technologies Ltd. <br>Notes to the Condensed Interim Consolidated Financial Statements<br>For the three months ended June 30, 2021<br>(Expressed in US dollars unless otherwise indicated)<br>(Unaudited)
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19. Equity (continued…)

(d) Warrants

Following is a summary of changes in warrants outstanding for the period ended June 30, 2021:

	Warrants		Weighted average
	outstanding		exercise price
Balance, March 31, 2020	1,250,000	C$	1.24
Issued	5,000,000		3.00
Balance, March 31, 2021 and June 30, 2021	6,250,000	C$	1.24

The warrants outstanding and exercisable as at June 30, 2021, are as follows:

Outstanding		Exercisable		Exercise price	Expiry date
1,250,000	*	400,000	C$	1.24	May 22, 2023
5,000,000		5,000,000	C$	3.00	January 12, 2024
6,250,000		5,400,000

* Of the 1,250,000 warrants granted as part of the Norway Acquisition (Note 7), 400,000 vest upon the receipt of all regulatory permits required to commence construction of a digital currency mining data centre in Ballangen Norway. A further 450,000 warrants vest upon the commencement of the mining of digital currency or other revenue generating activity on the property.

(e) Restricted share-units

The Company has established a Restricted Share Unit Plan (the "RSU Plan").  Under the RSU Plan, together with any other share compensation arrangement, the number of shares reserved for issuance may not exceed 10% of the total number of issued and outstanding shares and, to any one optionee, may not exceed 5% of the issued shares on a yearly basis.  Currently, the RSU Plan has a limit of 10 million shares, which is not rolling.  The Board may in its own discretion, at any time, and from time to time, grant RSUs to any employee, director or consultant of the Company or its subsidiaries (collectively, "Eligible Persons"), other than persons conducting investor relations activities, from time to time by the Board, subject to the limitations set forth in the RSU Plan. The Board may designate one or more performance periods under the RSU Plan.  In respect of each designated performance period and subject to the terms of the RSU Plan, the Board may from time to time establish the grant date and grant to any Eligible Person one or more RSUs as the Board deems appropriate.

Following is a summary of changes in restricted share units outstanding for the period ended June 30, 2021:

	Outstanding
Balance, March 31, 2020	3,100,000
Granted	310,000
Exercised	(1,626,000	)
Balance, March 31, 2021	1,784,000
Exercised	(440,500	)
Balance, June 30, 2021	1,343,500

Subsequent to June 30, 2021, the Company issued 77,000 common shares under the  RSU plan.

Page 22
HIVE Blockchain Technologies Ltd. <br>Notes to the Condensed Interim Consolidated Financial Statements<br>For the three months ended June 30, 2021<br>(Expressed in US dollars unless otherwise indicated)<br>(Unaudited)
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19. Equity (continued…)

(f) Share-based compensation

During the period ended June 30, 2021, $1,816,191 (June 30, 2020 - $153,557) of share-based compensation expense was recognized in relation to the vesting of options, and $506,234 (June 30, 2020 - $242,432) of share-based compensation expense was recognized in relation to the vesting of RSU's.

The following weighted average assumptions were used for the valuation of the stock options:

	2021	2020
Risk-free interest rate	0.42%	1.32%
Expected life (years)	5.00	6.00
Annualized volatility	105%	120%
Dividend rate	0.00%	0.00%

20. Income and Loss per Share

Income (loss) per common share represents net income (loss) for the period divided by the weighted average number of common shares outstanding during the period.

Diluted income (loss) per share is calculated by dividing the applicable net income (loss) by the sum of the weighted average number of common shares outstanding and all additional common shares that would have been outstanding if potentially dilutive common shares had been issued during the period.

	Three months ended	Three months ended
	June 30, 2021	June 30, 2020
Basic weighted average number of common shares outstanding	376,609,984	367,151,232
Effect of dilutive stock options and warrants	13,238,585	9,080,751
Effect of convertible loan	5,809,283	-
Diluted weighted average common shares outstanding	395,657,852	376,231,983

21. General and Administrative Expenses

General and administrative expenses were comprised of the following for the periods ending:

		June 30, 2021		June 30, 2020
Management fees, salaries and wages	$	171,660	$	119,771
Marketing		84,749		37,716
Office, administration, and regulatory		1,268,742		711,241
Professional fees, advisory, and consulting		789,722		75,832
Total	$	2,314,873	$	944,560
Page 23
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HIVE Blockchain Technologies Ltd. <br>Notes to the Condensed Interim Consolidated Financial Statements<br>For the three months ended June 30, 2021<br>(Expressed in US dollars unless otherwise indicated)<br>(Unaudited)
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22. Financial Instruments and Risk Management

The fair values of investments were measured using the cost, market or income approaches.  The investments measured at fair value are classified into one of the three levels in the fair value hierarchy according to the relative reliability of the inputs used to estimate the fair values, with the designation based upon the lowest level of input that is significant to the fair value measurement.  The three levels of the fair value hierarchy are:

Level 1 Inputs: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date.

Level 2 Inputs: Quoted prices for similar assets or liabilities in active markets, or quoted prices for identical or similar assets or liabilities in markets that are not active, or other observable inputs other than quoted prices.

Level 3 Inputs: Unobservable inputs for the asset or liability (Unobservable inputs reflect management's assumptions on how market participants would price the asset or liability based on the information available).

Valuation of Assets that use Level 2 Inputs ("Level 2 Assets").  The fair value of Level 2 assets would use the quoted price from the exchanges which the Company most frequently uses, with no adjustment.

The Company is exposed, in varying degrees, to a variety of financial related risks. The fair value of the Company's financial instruments, including cash, amounts receivable, investments, and accounts payable and accrued liabilities approximates their carrying value due to their short-term nature. The type of risk exposure and the way in which such exposure is managed is provided as follows:

Credit risk

Credit risk is the risk that one party to a financial instrument will fail to discharge an obligation and cause the other party to incur a financial loss. The Company's primary exposure to credit risk is on its cash held in bank accounts as at June 30, 2021. The majority of cash is deposited in bank accounts held primarily with one major bank in Canada so there is a concentration of credit risk. This risk is managed by using a major bank that is a high credit quality financial institution as determined by rating agencies.

For the custody of its digital currencies, the Company uses the services of two financial institutions through custodial agreements, one financial institution located in Liechtenstein and another in the United States.

Liquidity risk

Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they fall due.  The Company manages liquidity risk by maintaining cash balances to ensure that it is able to meet its short term and long-term obligations as and when they fall due.  The Company manages company-wide cash projections centrally and regularly updates projections for changes in business and fluctuations cause in digital currency prices and exchange rates.

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HIVE Blockchain Technologies Ltd. <br>Notes to the Condensed Interim Consolidated Financial Statements<br>For the three months ended June 30, 2021<br>(Expressed in US dollars unless otherwise indicated)<br>(Unaudited)
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22. Financial Instruments and Risk Management (continued…)

Foreign currency risk

Currency risk relates to the risk that the fair values or future cash flows of the Company's financial instruments will fluctuate because of changes in foreign exchange rates.  Exchange rate fluctuations affect the costs that the Company incurs in its operations as well as the currency in which the Company has historically raised capital.

The Company's presentation currency is the US dollar and major purchases are transacted in US dollars, while all financing to date has been completed in Canadian dollars.  As the Company operates in an international environment, some of the Company's financial instruments and transactions are denominated in currencies other than an entity's functional currency.  A portion of the Company's general and administrative costs are incurred mainly in currencies separate from each entity's functional currency, such as Swiss Francs, the Euro, the Swedish Krona, and Icelandic Krona.  The fluctuation of these currencies in relation to the US dollar will consequently impact the profitability of the Company and may also affect the value of the Company's assets and liabilities and the amount of shareholders' equity.

The Company's net monetary position in the significant foreign currencies as of June 30, 2021 is summarized below with the effect on earnings before tax of a 10% fluctuation of each currency relative to the functional currency of the entity holding it to the USD dollar:

	Net Monetary Position	Impact of 10% variance
	June 30, 2021	in foreign exchange rate
	(USD$ equivalent)	(in foreign currency)
US Dollars	23,196,323	2,108,757
Canadian Dollars	592,734	43,494
Swiss Francs	(117,058)	11,236
Swedish Krona	527,807	5,498
Icelandic Krona	753,945	543

Interest rate risk

Interest rate risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate because of changes in market interest rates. The Company's exposure to interest rate risk is limited and only relates to its ability to earn interest income on cash balances at variable rates. Changes in short term interest rates will not have a significant effect on the fair value of the Company's cash account.

Price Risk

Price risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate due to changes in market prices, other than those arising from interest rate risk or foreign currency risk.  The Company is not exposed to any significant price risks with respect to its financial instruments.

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HIVE Blockchain Technologies Ltd. <br>Notes to the Condensed Interim Consolidated Financial Statements<br>For the three months ended June 30, 2021<br>(Expressed in US dollars unless otherwise indicated)<br>(Unaudited)
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23. Digital Currency and Risk Management

Digital currencies are measured using Level 2 inputs (Note 10).

Digital currency prices are affected by various forces including global supply and demand, interest rates, exchange rates, inflation or deflation and the global political and economic conditions. The profitability of the Company is directly related to the current and future market price of coins; in addition, the Company may not be able liquidate its inventory of digital currency at its desired price if required. A decline in the market prices for coins could negatively impact the Company's future operations.  The Company has not hedged the conversion of any of its coin sales or future mining of digital currencies.

Digital currencies have a limited history and the fair value historically has been very volatile.  Historical performance of digital currencies are not indicative of their future price performance.  The Company's digital currencies currently consist of Ethereum, Ethereum Classic, and Bitcoin.  The table below shows the impact of the 25% variance in the price of each of these digital currencies on the Company's earnings before tax, based on their closing prices at June 30, 2021.

		Impact of 25% variance in price
Ethereum	$	15,765,331
Ethereum Classic		23,424
Bitcoin		4,758,195

24. Capital Management

The Company manages its capital to maintain its ability to continue as a going concern and to provide returns to shareholders and benefits to other stakeholders. The capital structure of the Company consists of equity comprised of issued share capital and reserves.

The Company manages its capital structure and makes adjustments to it in light of economic conditions. The Company, upon approval from its Board of Directors, will balance its overall capital structure through new share issues or by undertaking other activities as deemed appropriate under the specific circumstances.

The Company is not subject to externally imposed capital requirements and the Company's overall strategy with respect to capital risk management remains unchanged from the year ended March 31, 2021.

Page 26
HIVE Blockchain Technologies Ltd. <br>Notes to the Condensed Interim Consolidated Financial Statements<br>For the three months ended June 30, 2021<br>(Expressed in US dollars unless otherwise indicated)<br>(Unaudited)
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25. Loss on Sale of Swedish Subsidiary

On March 31, 2021, the Company completed the sale of the net assets of Boden Technologies AB:

Consideration:
Cash	$	10
Receivable^1^		1,821,454
		1,821,464
Less: Net assets derecognized		(25,263,683	)
Loss on disposal	$	(23,442,219	)

1) Receivable is conditional upon ruling by the by the Swedish Tax Authority related to an ongoing value added tax process. If the ruling is favourable then the amounts will be received; otherwise the amounts will not be collectible.  Management has assessed the collectability using a probability model under a range of scenarios and this receivable reflects the results of that process.

		March 31, 2021
Assets
Current assets
Cash and equivalents	$	464,123
Amounts receivable and prepaids		7,693,866
		8,157,989
Receivable from Bikupa		18,361,495
Data centre equipment		-
Deposits		-
Investment in sublease		-
Right of use asset		-
Total assets	$	26,519,484
Liabilities and equity
Current liabilities
Accounts payable and accrued liabilities	$	1,255,801
Lease liability		-
Total liabilities		1,255,801
Net Assets	$	25,263,683

As part of the sale, the Company incurred a loan payable of $18,361,495 to Boden, of which $1,223,702 is current. The loan payable has an amortization term of 15 years under which annual principal and interest payments are required. Interest is set at the Swedish Government Borrowing Rate +1% . The loan payable is contingently forgiven based on a favourable ruling from the Swedish Tax Authority on the ongoing value tax assessment.

Page 27
HIVE Blockchain Technologies Ltd. <br>Notes to the Condensed Interim Consolidated Financial Statements<br>For the three months ended June 30, 2021<br>(Expressed in US dollars unless otherwise indicated)<br>(Unaudited)
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26. Segmented Information

The Company operates in one segment, the mining and sale of digital currencies.  External revenues are attributed by geographical location, based on the country from which services are provided.

June 30, 2021		Canada		Sweden		Iceland		Bermuda		Total
Revenue from digital currency mining	$	-	$	-	$	-	$	37,239,767	$	37,239,767
June 30, 2020		Canada		Sweden		Iceland		Total
Revenue from digital currency mining	$	6,580,282	$	-	$	-	$	6,580,282

The Company's non-current tangible assets are located in the following jurisdictions:

June 30, 2021		Canada		Sweden		Iceland		Bermuda		Total
Data centre equipment	$	24,558,557	$	12,245,311	$	2,892,659	$	5,080,958	$	44,777,485
ROU Asset		1,747,345		733,602		-		-		2,480,947
	$	26,305,902	$	12,978,913	$	2,892,659	$	5,080,958	$	47,258,432
March 31, 2021		Canada		Sweden		Iceland		Total
Data centre equipment	$	5,519,758	$	12,849,969	$	3,229,076	$	21,598,803
ROU Asset		1,928,889		1,049,395		-		2,978,284
	$	7,448,646.87	$	13,899,364	$	3,229,076	$	24,577,087
Page 28
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HIVE Blockchain Technologies Ltd.: Exhibit 99.2 - Filed by newsfilecorp.com

HIVE Blockchain Technologies Ltd. <br>Management's Discussion and Analysis of Financial Condition and Results of Operations<br><br> <br>June 30, 2021<br><br> <br>Expressed in US Dollars unless otherwise indicated

The following discussion is management's assessment and analysis of the results of operations, cash flows and financial condition of HIVE Blockchain Technologies Ltd. ("HIVE" or the "Company") on a consolidated basis for the three months ended June 30, 2021, and should be read in conjunction with the accompanying unaudited condensed interim consolidated financial statements and related notes for the three months ended June 30, 2021. These documents and additional information regarding the business of the Company are available on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com, and the Company's website at www.hiveblockchain.com. The preparation of financial data is in accordance with International Financial Reporting Standards ("IFRS") as issued by the International Accounting Standards Board ("IASB") and all figures are reported in United States dollars unless otherwise indicated.

This Management's Discussion & Analysis contains information up to and including October 1, 2021.

BUSINESS OVERVIEW

HIVE Blockchain Technologies Ltd. is a growth oriented, TSX Venture Exchange ("TSXV") and Nasdaq's Capital Markets Exchange ("NASDAQ") listed company building a bridge from the blockchain sector to traditional capital markets. HIVE owns state-of-the-art green energy-powered data centre facilities in Canada, Sweden, and Iceland which produce newly minted digital currencies like Bitcoin and Ethereum continuously on the cloud. Our deployments provide shareholders with exposure to the operating margins of digital currency mining as well as a portfolio of crypto-coins. HIVE's cryptocurrency mining operations are all powered by green energy, either renewable hydroelectricity or geothermal energy, with the major data centres being: 1) A Bitcoin mining operation at a leased facility in Quebec, Canada, currently equipped with approximately 4,800 new generation ASIC mining rigs with an aggregate operating hash rate of approximately 495 petahashes per second (PH/s), utilizing approximately 27 megawatts (MW) power but with available power capacity of 30 MW.; 2) A Bitcoin mining operation at an owned facility in New Brunswick, Canada, currently equipped with approximately 7,400 new generation ASIC mining rigs with an aggregate operating hash rate of approximately 600 PH/s, utilizing approximately 23 MW power but with available power capacity of 30 MW.; 3) In Sweden, a leased facility equipped with approximately 13,900 custom and efficient GPU rigs with an aggregate operating hash rate of approximately 3,300 gigahashes per second (GH/s) currently mining Ethereum and utilizing approximately 17 MW power; and, 4) In Iceland, a leased facility equipped with approximately 2,600 custom and efficient GPU rigs with an aggregate operating hash rate of approximately 550 GH/s currently mining Ethereum and Ethereum Classic while utilizing approximately 3.5 MW power.  Except for the hosting that is being done in New Brunswick, all the mining power is being utilized by HIVE for self-mining.  These operations provide shareholders with exposure to the operating margins of digital currency mining which the Company believes is currently the most profitable application of the Company's computing power.

The Company recognizes revenue from the provision of transaction verification services, known as 'cryptocurrency mining', for which the Company receives digital currencies and records them at their fair value on the date received.

Q1 Quarterly Highlights- June 30, 2021

• Generated revenue from digital currency mining of $37.2 million, with a gross mining margin^1^ of $31.0 million
• Mined 225 Bitcoin and over 9,700 Ethereum during the three-month period ended June 30, 2021
• Earned net income of $18.5 million for the period
• Working capital increased by $19.4 million during the three-month period ended June 30, 2021
• Digital currency assets of $82.2 million, as at June 30, 2021

________________________________ ^1^Non-IFRS measure. A reconciliation to its nearest IFRS measures is provided under "Reconciliations of Non-IFRS Financial Performance Measures" below.

HIVE Blockchain Technologies Ltd. <br>Management's Discussion and Analysis of Financial Condition and Results of Operations<br><br> <br>June 30, 2021<br><br> <br>Expressed in US Dollars unless otherwise indicated

The Company is a reporting issuer in each of the Provinces and Territories of Canada and is listed for trading on the TSXV, under the symbol "HIVE.V", as well as on the NASDAQ under "HIVE" and on the Open Market of the Frankfurt Stock Exchange under HBF. The Company's head office is located at Suite 855, 789 West Pender Street, Vancouver, BC, V6C 1H2, and the Company's registered office is located at Suite 2500, 700 West Georgia Street, Vancouver, BC, V7Y 1B3.

DEFINED TERMS
ASIC:	An ASIC (application-specific integrated circuit) is a microchip designed for a special application, such as a particular kind of transmission protocol or a hand-held computer.  In the context of digital currency mining ASICs have been designed to solve specific hashing algorithms efficiently, including for Bitcoin mining.
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Bitcoin or BTC	Bitcoin refers to the native token of the Bitcoin network which utilizes the SHA-256 algorithm. Bitcoin is a peer-to-peer payment system and the digital currency of the same name which uses open source cryptography to control the creation and transfer of such digital currency.
Bitcoin Network	The network of computers running the software protocol underlying Bitcoin and which network maintains the database of Bitcoin ownership and facilitates the transfer of Bitcoin among parties.
Blockchain	A Blockchain is an immutable, decentralized public transaction ledger which records transactions, such as financial transactions in cryptocurrency, in chronological order. Bitcoin and Ethereum are the largest examples of a public blockchain.
Ether or ETH or Ethereum:	Ether, ETH or Ethereum refers to the native token of the Ethereum Network which utilizes the ethash algorithm. Ethereum is a global, open-source platform for decentralized applications. Ethereum, ETH and Ether are used interchangeably to refer to the cryptocurrency.
EthereumClassic :	Ethereum Classic refers to the native token of the Ethereum Classic Network.
GPU:	A GPU or Graphics Processing Unit, is a programmable logic chip (processor) specialized for display functions.  GPUs have proven to be efficient at solving digital currency hashing algorithms.
Hashrate:	Hashrate is a measure of mining power whereby the expected revenue from mining is directly proportional to a miner's hashrate normalized by the total hashrate of the network.
Mining:	Mining refers to the provision of computing capacity (or hashing power) to secure a distributed network by creating, verifying, publishing and propagating blocks in the blockchain in exchange for rewards and fees denominated in the native token of that network (i.e. Bitcoin or Ethereum, as applicable) for each block generated.
Network<br><br> <br>Difficulty:	Network difficulty is a measure of how difficult it is to find a hash below a given target.
Proof of Work:	Under proof of work consensus miners performing computational work on the network update the ledger; miners are incentivized to protect the network and put forth valid transactions because they must invest in hardware and electricity for the opportunity to mine coins on the network.  The success of a miner's business relies on the value of the currency remaining above the cost to create a coin.
Proof of Stake	Under proof of stake consensus stakers who have sufficiently large coin balances 'staked' on the network update the ledger; stakers are incentivized to protect the network and put forth valid transactions because they are heavily invested in the network's currency.
Revaluation of<br><br> <br>Digital<br><br> <br>Currencies:	Refers to the recognition of fair value adjustments to digital currency holdings based on available market prices at a point in time.
SHA-256:	SHA-256 is a cryptographic Hash Algorithm.  A cryptographic hash is a kind of 'signature' for a text or a data file.  SHA-256 generates an almost-unique 256-bit (32-byte) signature for a text.  The most well-known cryptocurrencies that utilize the SHA-256 algorithm are Bitcoin and Bitcoin Cash.
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HIVE Blockchain Technologies Ltd. <br>Management's Discussion and Analysis of Financial Condition and Results of Operations<br><br> <br>June 30, 2021<br><br> <br>Expressed in US Dollars unless otherwise indicated
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OUTLOOK
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Operations

The Company has been continuing to utilize cash flows generated from its Ethereum mining operations to upgrade and expand its Ethereum mining equipment and to support the scaling up of its recently acquired Bitcoin mining operation in Canada.

COVID-19 and Upgrade Program

As it relates to the continuing impact from the COVID-19 virus, through the past year HIVE has enacted various measures to protect its employees and partners and prevent disruption to operations because of COVID-19, in alignment with local governments as well as national and international agency recommendations. These include ceasing non-essential travel and having employees work remotely.  The Company has reduced staff on site at its locations through aggressive work at home policies; however, the Company has been able to maintain full uptime of its cryptocurrency mining operations and its data centres and its supply chain continues to operate with only minimal disruption. The Company operates with a lean administrative structure and has few employees, as cryptocurrency mining is not a human capital-intensive industry. The Company's data centres are in sparsely populated areas near the Arctic Circle in Europe, in rural Quebec and New Brunswick.  Most operations management can be accomplished remotely, and any necessary equipment maintenance can be achieved by minimal staff utilizing personal protective equipment and maintaining physical distancing.  However, the Company continues to be at risk of operational inefficiencies directly related to COVID-19 because of difficulties in the mobility of the Company's technical employees within Europe.  These mobility issues have alleviated somewhat but continue to be present.  The Company continues to caution that current global uncertainty with respect to the spread of the COVID-19 virus and emerging variants and its effect on the broader global economy may have a significant negative effect on the Company.  While the precise impact of the COVID-19 virus on the Company remains unknown, the rapid spread of the COVID-19 virus may have a material adverse effect on global economic activity and can result in volatility and disruption to global supply chains, operations, mobility of people and the financial markets, which could affect interest rates, credit ratings, credit risk, inflation, business, financial conditions, results of operations and other factors relevant to the Company.

HIVE has undertaken a program to upgrade and expand its GPU equipment to maintain its Ethereum mining industry footprint.  HIVE had intended to complete this project by the end of calendar 2020, however the negative impact on the global supply chain related to the COVID-19 pandemic has presented challenges including increased shipping costs and obtaining equipment from China on a timely basis, which has extended this project into calendar 2021.  Additionally, the Company faces uncertainty in the availability of equipment from suppliers as it relates to the Company's ASIC equipment.  These continuing challenges are not just impacting our operations but are impacting all industries with one of the most vocal being the auto industry who because of a lack of semiconductors and microchips have had to cut back on car and truck production.  In addition, the cost of air and sea freight have surged over 100%.  The chip shortage, high shipping costs, and challenging logistical processes are a global effect associated with the COVID-19 pandemic.

Even though the COVID-19 pandemic affects have negatively impacted HIVE, we were resilient and committed to successfully complete 2 major acquisitions, and even with the global supply chain delays experienced we have been able to expand our footprint in Canada for green and clean coins.

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HIVE Blockchain Technologies Ltd. <br>Management's Discussion and Analysis of Financial Condition and Results of Operations<br><br> <br>June 30, 2021<br><br> <br>Expressed in US Dollars unless otherwise indicated
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Ethereum Mining Industry Revenues of U.S. dollars per Day for each 1 Megahash per second of computing power;

September 1, 2020 - September 28, 2021

Source: bitinfocharts.com

• Bitcoin market conditions for miners during Summer 2021 were similar to the strongly favourable conditions from February to May 2021, where $/TH/day revenues were between 25 to 45 CAD cents.  This is a result of the large decrease in Difficulty, as a large amount of the Bitcoin network hashrate came offline (with China banning cryptomining). While Bitcoin prices have corrected to the low to mid $40,000 USD range in the past 2 weeks of September 2021, mining profitability has still maintained in the 30 cent range. Still favourable, and while not as high as the peaks earlier this year, still current mining economics are still strong on a historical basis (comparing the last 3 years), and also are very profitable across the board for all of HIVE's Bitcoin operations.
• Similarly for Ethereum mining, the economics have remained strong after the London hardfork in early August. There was a lot of speculation that the new fee structure for miners (originally designed to lower transaction fees to make Ethereum an economical blockchain for end users) would have a negative impact on profitability. What has actually transpired is we have seen consistent mining economics in the 60 days following the London hard fork (approximately 6 to 11 cents per MH/s per day) that were in fact better than the preceding 60 day before the London hardfork (approximatey 6 to 8 cents per MH/s per day).  The Company believes the outlook for Ehtereum mining is positive, and will continue to be very profitable as there is increased volume and adoption of users on the Ethereum blockchain, as excessively high transaction fees are no longer (as seen in May 2021 which put mining revenues at 25 cents per MH/s per day, which were disproportionately high on a historical basis, and which the London hardfork was designed to prevent, as it made it prohibitively expensive for most users).  In fact, current Ethereum mining economics are substantially better than in late 2020, well before the London hard fork.
• Ongoing production and delivery delays continue to be experienced at some of the major mining equipment manufacturers, it is likely that network difficulty may rise significantly in the future if prices continue to increase, and the production and delivery delays are solved at the manufacturers and their latest generation of mining equipment is delivered to miners and put into production.  It is questionable if all of the equipment that has been announced will be able to be delivered as reported.  If Bitcoin price rises in step with the increase in Difficulty, Bitcoin mining market conditions would be preserved, otherwise the rise in Difficulty will negatively impact Bitcoin mining market conditions.

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HIVE Blockchain Technologies Ltd. <br>Management's Discussion and Analysis of Financial Condition and Results of Operations<br><br> <br>June 30, 2021<br><br> <br>Expressed in US Dollars unless otherwise indicated
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Bitcoin Mining Industry Revenues of U.S. dollars per Day for each 1 Terahash per second of computing power:

September 1, 2020 - September 28, 2021

Source: bitinfocharts.com

Industry subject to evolving regulatory and tax landscape

Both the regulatory and tax landscape for digital companies is constantly evolving. This applies as well to the emerging blockchain, distributed ledger, technology industry and the mining, use, sale and holding of tokens, or digital currencies, related to blockchain technology networks.

Operating in an emerging industry, the Company must constantly adapt to significant changes in regulatory, tax and industry rules and guidelines and obtains regulatory and tax advice from external global experts in this regard.  However, regulations and the rules, rates, interpretations, and practices related to taxes, including consumption taxes such as value added taxes (VAT), are also constantly changing.  For example, in 2019, in the second quarter of fiscal 2020, the Company recorded a provision for potential VAT in Switzerland related to historical periods.  However, subsequently, the Company obtained tax advice from major international tax lawyers and accountants that this amount was an overstatement and would not need to be paid and it was therefore reversed in the third quarter of fiscal 2020.

The Company's headquarters are in Vancouver, British Columbia, Canada and as such is subject to the jurisdiction of the laws of B.C. and Canada.  The Company intends to manage its data centres and trading operations from Bermuda, to simplify tax expectations and extend its eligible trading window for its cryptocurrencies, as Bermuda is under the Atlantic Standard Time zone.

However, the Company also has assets in a variety of other countries and is subject to changes in political conditions and regulations within these markets. Changes, if any, in policies or shifts in political attitude could adversely affect the Company's operations or profitability.

Operations may be affected in varying degrees by government regulations and decisions with respect to, but not limited to, restrictions on price controls, currency remittance, income and consumption taxes, foreign investment, maintenance of claims, environmental legislation, land use, electricity use and safety. Additionally, cryptocurrency prices are highly volatile, can fluctuate substantially and are affected by numerous factors beyond the Company's control, including hacking, demand, inflation, and expectations with respect to the rate of inflation, global or regional political or economic events.

On-going and future regulatory or tax changes, actions or decisions may alter the nature of an investment in the Company or restrict the use of cryptocurrencies in a manner that adversely affects the Company's operations. The effect of any future regulatory change on the Company or any cryptocurrency that the Company may mine is impossible to predict, but such change could be substantial and adverse to the Company.

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HIVE Blockchain Technologies Ltd. <br>Management's Discussion and Analysis of Financial Condition and Results of Operations<br><br> <br>June 30, 2021<br><br> <br>Expressed in US Dollars unless otherwise indicated
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For example, governments may in the future curtail or outlaw, the acquisition, use or redemption of cryptocurrencies. Governments may also take regulatory action that may increase the cost and/or subject cryptocurrency companies to additional regulation or prohibit or severely restrict the right to acquire, own, hold, sell, use or trade cryptocurrencies or to exchange cryptocurrencies for fiat currency. By extension, similar actions by other governments, may result in the restriction of the acquisition, ownership, holding, selling, use or trading in the Company's common shares. Such a restriction could result in the Company liquidating its cryptocurrency inventory at unfavorable prices and may adversely affect the Company's shareholders.

The Company believes the present attitude to blockchain technology, and the digital currency mining industry is increasingly favourable in many countries, but conditions may change. Operations may be affected in varying degrees by government regulation with respect to restrictions on production, price controls, export controls, foreign exchange controls, income and other taxes, and environmental legislation.

GENESIS SETTLEMENT AGREEMENT

On June 28, 2019 the Company announced that they reached a settlement agreement with Genesis (the "Settlement Agreement") which positively resolved prior misunderstandings and disagreements.  As part of the settlement the Company assumed responsibility for the operation of the Sweden and Iceland data centres from Genesis.  As part of the agreement, for a period of three years, Genesis will be entitled to nominate one director to the HIVE board of directors provided it continues to hold no less than 10% of the Company's shares. To the best of the Company's knowledge, based on publicly available information on SEDI, Genesis remains a shareholder of HIVE, holding 8.43% on a non-diluted basis as at March 31, 2021, with 31,003,316 shares per public filings. Genesis is a provider of cryptocurrency mining hashpower services.

After the Settlement Agreement, the Company received invoices under the Master Services Agreement from Genesis which the Company is disputing on the basis, inter alia, that the Company believes Genesis is in breach of its obligations of general and preventative maintenance, monitoring, repair, in-warranty repair or replacement of defective equipment and components of the Company's equipment at the Iceland Facility.

Additionally, after the Settlement Agreement, the Company is disputing with Genesis the amounts owed to the Company under the Cloud Mining Agreement.

NORWAY ACQUISITION

In May 2018 the Company acquired Liv Eiendom AS ("Liv Eiendom") and Kolos Norway AS ("Kolos") for total consideration of $12.3 million.

The property was expected to provide access to low-cost power in a cold climate, sourced from green and renewable energy sources for future growth opportunities.  However, in early December 2018 the Norwegian Parliament approved a legislative bill that cryptocurrency miners will no longer be subject to tax relief on power consumption at the same rate as other power-intensive industries.

Under the Norway agreement, as of March 31, 2021, the Company did not have rights to the land itself, but instead had the right to develop the land until certain provisions are met.  These provisions include raising approximately $22 million (200 million Norwegian Krone) before March 2021 which if not done the local Ballangen municipality would have the right to take back the land.  As a result, the land rights have been impaired, and the land has been written down to $nil for accounting purposes.

On May 10, 2021, the Company sold its Norwegian subsidiary Kolos to the local community under a share purchase agreement.  Under the agreement the Company transferred all the shares to the municipality, along with a $200,000 payment.

Page 6
HIVE Blockchain Technologies Ltd. <br>Management's Discussion and Analysis of Financial Condition and Results of Operations<br><br> <br>June 30, 2021<br><br> <br>Expressed in US Dollars unless otherwise indicated
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BLOCKBASE STRATEGIC PARTNERSHIP
---

In August 2019, the Company entered into a strategic partnership with Blockbase Group DWC-LLC ("Blockbase") to replace Genesis as the facility operator for the Company's flagship Sweden operation, with an open-ended term.  This transition was completed in November 2019.  Under the agreement Blockbase will provide all things necessary for the configuration, management, operation, security, maintenance and support for the Company's Sweden facility.  Blockbase's highly optimized software monitoring services are expected to enhance the efficiency of the Company's GPU mining operations while reducing costs.  Additionally, HIVE has entered into direct agreements with suppliers such as the local electricity providers, which are now providing full transparency of costs at the Company's Swedish operations.

On June 1, 2020, the Company extended its partnership with Blockbase to be the facility operator for the Company's Iceland operation.  HIVE will also work with Blockbase to undertake facility improvements and refurbish as necessary its mining rigs to improve mining efficiency

QUEBEC ACQUISITION

On April 8, 2020 the Company completed its acquisition of 9376-9974 Inc. ("9376") a dedicated cryptocurrency mining operation at a leased facility located in Lachute, Quebec from Cryptologic Corp. ("Cryptologic").

In consideration for 100% of the common shares of 9376, the Company paid total consideration of $3,738,809 consisting of:

(i) Issuance of 15,000,000 common shares on closing valued at a price of C$0.23 per common share for a total of $2,458,470 (C$3,450,000); and

(ii) Cash payment of $1,235,873 (C$1,734,315) and holdback of $44,466.

The allocation of the total purchase price to the net assets acquired is as follows:

Prepaid expenses	$	719,699
Data Centre Equipment (Note 11)		2,322,077
Right of use asset (Note 16)		2,469,327
Intangible asset*		872,545
Accounts Payable		(175,512	)
Lease liability		(2,469,327	)
Net assets acquired	$	3,738,809
Cash paid		1,235,873
Shares issued		2,458,470
Holdback payable		44,466
Total consideration	$	3,738,809

*Intangible asset relates to favourable supply arrangements acquired as part of the business acquisition and is being amortized over the term of the existing facility lease.

Page 7
HIVE Blockchain Technologies Ltd. <br>Management's Discussion and Analysis of Financial Condition and Results of Operations<br><br> <br>June 30, 2021<br><br> <br>Expressed in US Dollars unless otherwise indicated
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GPU ATLANTIC ACQUISITION
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On April 15, 2021, the Company completed the acquisition of 100% of the common shares of GPU Atlantic. In consideration for 100% of GPU Atlantic, the Company paid total consideration of 5,000,000 common shares on closing valued at a total of $18.7 million (C$23.7 million). 1,000,000 of the common shares were allocated to a holdback and to GPU One earn-out upon delivery of certain earn-out conditions.

GPU Atlantic has a 50-megawatt data centre campus located in New Brunswick, Canada.

Current assets	$	671,709
Data centre equipment		12,898,994
Land		662,910
Buiding		4,576,290
Sales taxes refunds		75,780
Intangible assets		3,947,481
Goodwill		10,469,997
Accounts payable		(3,198,591	)
Long-term debt		(11,410,351	)
Net Assets Acquired	$	18,694,219
Consideration paid		18,694,219
Total Consideration	$	18,694,219
INVESTMENT IN DeFi
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On April 21, 2021, the Company completed a share swap transaction with DeFi Technologies Inc. ("DeFi Technologies"), pursuant to which HIVE received 10,000,000 common shares of DeFi Technologies, in exchange for 4,000,000 common shares of the Company, valued at C$16.0 million.

CONVERTIBLE DEBENTURE

On January 12, 2021, the Company closed its non-brokered private placement of unsecured debentures (the "Debentures"), for aggregate gross proceeds of $15,000,000 with U.S. Global Investors, Inc. ("U.S. Global").  The Interim Executive Chairman of the Company is a director, officer and controlling shareholder of U.S. Global.

The Debentures will mature on the date that is 60 months from the date of issuance, bearing interest at a rate of 8% per annum.  The Debentures will be issued at par, with each Debenture being redeemable by HIVE at any time, and convertible at the option of the holder into common shares (each, a "Share") in the capital of the Company at a conversion price of CAD$3.00 per Share.  Interest will be payable monthly, and principal will be payable quarterly.  In addition, U.S. Global will be issued 5.0 million common share purchase warrants (the "Warrants"). Each whole Warrant will entitle U.S. Global to acquire one common at an exercise price of CAD$3.00 per Share for a period of three years from closing.

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HIVE Blockchain Technologies Ltd. <br>Management's Discussion and Analysis of Financial Condition and Results of Operations<br><br> <br>June 30, 2021<br><br> <br>Expressed in US Dollars unless otherwise indicated
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AT-THE-MARKET EQUITY PROGRAM
---

On February 2, 2021, the Company entered into an equity distribution agreement ("Equity Distribution Agreement") with Canaccord Genuity Corp.  Under the Equity Distribution Agreement, the Company may, from time to time, sell up to US$100 million of common shares in the capital of the Company (the "ATM Equity Program").  The Company intends to use the net proceeds of the ATM Equity Program, principally for general corporate and working capital requirements, funding ongoing operations, to repay indebtedness outstanding from time to time, to complete future acquisitions, or for other corporate purposes.

For the quarter ended June 30, 2021, the Company issued 2,378,400 common shares (the "ATM Shares") pursuant to the ATM Equity Program for proceeds of C$9,306,469 ($7,554,266).  The ATM Shares were sold at prevailing market prices, for an average price per ATM Share of C$3.91.  Pursuant to the Equity Distribution Agreement, a cash commission of $226,627 on the aggregate gross proceeds raised was paid to the agent in connection with its services under the Equity Distribution Agreement.

Subsequent to the first quarter ended June 30, 2021 to the date of this report, the Company issued 4,980,600 common shares (the "ATM Shares") pursuant to the ATM Equity Program for proceeds of C$19,161,593 ($15,234,265).  The ATM Shares were sold at prevailing market prices, for an average price per ATM Share of C$457,030.  Pursuant to the Equity Distribution Agreement, a cash commission of $3.85 on the aggregate gross proceeds raised was paid to the agent in connection with its services under the Equity Distribution Agreement.

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HIVE Blockchain Technologies Ltd. <br>Management's Discussion and Analysis of Financial Condition and Results of Operations<br><br> <br>June 30, 2021<br><br> <br>Expressed in US Dollars unless otherwise indicated
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CONSOLIDATED RESULTS OF OPERATIONS
---

Below is an analysis of the Company's revenue and gross mining margin:

		Q1 2022			Q4 2021			Q3 2021			Q2 2021			Q1 2021
Revenue from digital currency mining	$	37,239,767		$	33,420,171		$	13,707,879		$	12,989,592		$	6,580,282
Operating and maintenance		(6,220,684	)		(5,726,129	)		(3,078,934	)		(3,780,716	)		(3,987,271	)
Depreciation		(6,899,182	)		(5,035,231	)		(2,476,592	)		(1,796,774	)		(1,629,869	)
		24,119,901			22,658,811			8,152,353			7,412,102			963,142
Gross mining margin		31,019,083			27,694,042			10,628,945			9,208,876			2,593,011
Gross mining margin % (1)		83%			83%			78%			71%			39%
Gross margin %		65%			68%			59%			57%			15%
Revaluation gain of digital currencies (2)		(3,426,017	)		16,090,102			6,315,970			993,902			1,325,864
Gain on sale of digital currencies		4,106,057			3,841,993			1,679,213			1,729,821			747,466
Hosting revenue		1,742,906			410,704			393,518			191,800			-
Share based compensation		(2,322,426	)		(534,193	)		(209,726	)		(514,438	)		(395,989	)
General expenses		(2,314,873	)		(3,102,849	)		(911,076	)		(183,660	)		(944,560	)
Foreign exchange gain (loss)		528,868			(367,219	)		1,746,573			(302,943	)		217,525
Realized gain on investments		-			-			6,639			-			-
Unrealized (loss) gain on investments		(5,808,523	)		645,383			148,967			-			-
Change in fair value of derivative liability		(885,612	)		(857,702	)		-			-			-
Gain (loss) on sale of subsidiary		3,171,275			(23,442,219	)		-			-			-
Finance expense		(319,644	)		(871,941	)		(111,918	)		(115,611	)		(114,754	)
Tax expense		-			(151,366	)		-			-			-
Net income from continuing operations		18,591,912		$	14,319,504		$	17,210,513		$	9,210,973		$	1,798,694
EBITDA (1)		26,134,313		$	20,378,042		$	19,799,023		$	11,123,358		$	3,543,317
Adjusted EBITDA (1)		29,597,093		$	29,122,054		$	13,692,779		$	10,643,894		$	2,613,442

(1) Non-IFRS measure. A reconciliation to its nearest IFRS measures is provided under "Reconciliations of Non-IFRS Financial Performance Measures" below.

(2) Revaluation is calculated as the change in value (gain or loss) on the coin inventory.  When coins are sold, the net difference between the proceeds and the carrying value of the digital currency (including the revaluation), is recorded as a gain (loss) on the sale of digital currencies

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HIVE Blockchain Technologies Ltd. <br>Management's Discussion and Analysis of Financial Condition and Results of Operations<br><br> <br>June 30, 2021<br><br> <br>Expressed in US Dollars unless otherwise indicated
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Revenue from Digital Currency Mining

For the three months ended June 30, 2021, revenue was $37.2 million, an increase of approximately 465% from the prior year. The increase was primarily due to an increase in cryptocurrency prices, the increased production of Bitcoin with the Quebec and Atlantic facility acquisition and the purchase of miners for that facility.

Gross Mining Margin and Gross Mining Margin %

For the three months ended June 30, 2021, HIVE's gross mining margin percentage was 83% against 39% for the prior year.

The Company's gross mining margin from digital currency mining is partially dependent on various external network factors including mining difficulty, the amount of digital currency rewards and fees it receives for mining, and the market price of the digital currencies at the time of mining.

The average monthly Ethereum market data from April 2021 to June 2021 was as follows:

		April		May		June		Average
Ethereum		2021		2021		2021		YTD F2022
Average price	$	2,298	$	3,141	$	2,336	$	2,597
Average daily total miner revenue in ETH, i.e. fees plus newly minted coins		24,047		23,012		15,813		20,980
Average daily hashrate		529,139		604,692		559,149		564,770

Sources: Coinmarketcap.com, Etherscan.io

The average monthly Ethereum market data from April 2020 to March 2021 was as follows:

		April		May		June		July		August		September
Ethereum		2020		2020		2020		2020		2020		2020
Average price	$	172	$	208	$	236	$	259	$	402	$	368
Average daily total miner revenue in ETH, i.e. fees plus newly minted coins		14,221		15,179		16,728		17,704		22,774		28,559
Average daily hashrate		176,715		181,900		185,854		191,035		208,026		244,137
		October		November		December		January		February		March		Average
Ethereum		2020		2020		2020		2021		2021		2021		F2021
Average price	$	376	$	486	$	622	$	1,203	$	1,700	$	1,737	$	648
Average daily total miner revenue in ETH, i.e. fees plus newly minted coins		18,430		17,843		19,130		22,350		28,672		25,570		20,597
Average daily hashrate		261,013		271,021		286,378		327,932		392,202		447,510		264,477

Sources: Coinmarketcap.com, Glassnode.com, Etherscan.io

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HIVE Blockchain Technologies Ltd. <br>Management's Discussion and Analysis of Financial Condition and Results of Operations<br><br> <br>June 30, 2021<br><br> <br>Expressed in US Dollars unless otherwise indicated
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For your reference is an Ethereum price vs Ethereum miners' revenues in Ether block rewards and transaction fees vs network hash rate* chart for the 24-month period from July 2019 to June 2021:

Source: Glassnode.com

* Network Hash rate - The historical measure of the processing power of the Ethereum network.

The average monthly Bitcoin market data from April 2021 to June 2021 was as follows:

		April		May		June		Average
Bitcoin		2021		2021		2021		YTD F2022
Average price	$	57,207	$	46,443	$	35,845	$	46,498
Average daily total miner revenue in BTC, i.e. fees plus newly minted coins		994		978		776		916
Average daily difficulty (in millions)		23,317,563		23,162,908		20,408,893		22,282,732

Sources: Coinmarketcap.com, Glassnode.com, Blockchain.com

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HIVE Blockchain Technologies Ltd. <br>Management's Discussion and Analysis of Financial Condition and Results of Operations<br><br> <br>June 30, 2021<br><br> <br>Expressed in US Dollars unless otherwise indicated
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The average monthly Bitcoin market data from April 2020 to March 2021 was as follows:

		April		May		June		July		August		September
Bitcoin		2020		2020		2020		2020		2020		2020
Average price	$	7,224	$	9,263	$	9,489	$	9,590	$	11,652	$	10,660
Average daily total miner revenue in BTC, i.e. fees plus newly minted coins		1,908		1,283		990		1,007		1,020		1,026
Average daily difficulty (in millions)		14,920,681		15,713,352		14,873,312		16,650,895		17,066,713		18,108,004
		October		November		December		January		February		March		Average
Bitcoin		2020		2020		2020		2021		2021		2021		F2021
Average price	$	11,887	$	16,646	$	21,983	$	34,762	$	46,307	$	54,998	$	20,372
Average daily total miner revenue in BTC, i.e. fees plus newly minted coins		959		1,045		1,009		1,041		1,054		1,025		1,114
Average daily difficulty (in millions)		19,623,036		17,494,373		18,864,893		20,180,891		21,449,568		21,655,355		18,050,089

Sources: Coinmarketcap.com, Glassnode.com, Blockchain.com

For your reference is a Bitcoin price vs Bitcoin miners' revenues (in Bitcoin block rewards and transaction fees) vs block difficulty* chart for the 24-month period from July 2019 to June 2021:

Source: Glassnode.com

* Block Difficulty - A relative measure of how difficult it is to find a new block. The difficulty is adjusted periodically as a function of how much hashing power has been deployed by the network of miners.

The block reward is how new bitcoin is "minted" or brought into the economy. These rewards, which started at 50 Bitcoin at inception of the network in 2009, halve every 210,000 blocks, with the halving that occurred on May 11, 2020 resulting in a reward of 6.25 Bitcoin per block vs 12.5 immediately prior to the halving.

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HIVE Blockchain Technologies Ltd. <br>Management's Discussion and Analysis of Financial Condition and Results of Operations<br><br> <br>June 30, 2021<br><br> <br>Expressed in US Dollars unless otherwise indicated
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Total Assets

Total assets increased to $247.4 million as at June 30, 2021 from $178.3 million at March 31, 2021, primarily due to the increase in data centre equipment by $23.2 million, increase in digital currencies by $24.7 million, increase in long term deposits by $13.0 million, increase in intangible asset by $14.4 million, increase in investments by $7.7 million partially offset by decrease in cash and equivalents by $13.4 million.

The significant assets consisted of cash of $26.9 million, amounts receivable and prepaids of $8.9 million, investments of $8.6 million, digital currencies of $82.2 million, data centre equipment of $44.8 million, long term deposits of $58.6 million and right of use assets of $2.5 million.

Total Liabilities

Total liabilities increased to $52.7 million as at June 30, 2021 from $43.9 million as of March 31, 2021, primarily due to an additional mortgage balance of $10.9 million associated with the New Brunswick acquisition.

RESULTS OF OPERATIONS FOR THE THREE MONTHS ENDED JUNE 30, 2021

During the three-month period ended June 30, 2021, the Company recorded net income before tax of $18.6 million (Q4 F2021 - $1.8 million).

Revenue:

• Revenue of $37.2 million from the mining of digital currencies, including 9,700 Ethereum and 225 Bitcoin; and
• Hosting revenue of $1.7 million earned from the hosting of ASIC miners for clients.

Operating expenses:

• Operating and maintenance costs were $6.2 million consisting of fees paid to suppliers including local electricity providers, as well as service provider Blockbase, and includes electricity, daily monitoring and maintenance and all other costs directly related to the maintenance and operation of the data centre equipment; and
• Depreciation for the quarter of $6.9 million related to the Company's data centre equipment and right of use assets.

Gain on sale of digital currencies:

• The Company sold digital currencies and received proceeds of $13.8 million during the three-month period ended June 30, 2021; the Company recognized a gain on sale of $4.1 million in relation to the sale of digital currencies with a cost base of $9.7 million.

Revaluation of digital currencies:

• The Company recorded a loss of $3.4 million related to the quarterly revaluation of its portfolio of digital currencies.

Other items:

• Share based compensation expense of $2.3 million in relation to the options and restricted share units vested in the period;
• Foreign exchange gain of $0.5 million; and
• Finance expense of $0.3 million.

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HIVE Blockchain Technologies Ltd. <br>Management's Discussion and Analysis of Financial Condition and Results of Operations<br><br> <br>June 30, 2021<br><br> <br>Expressed in US Dollars unless otherwise indicated
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RESULTS OF OPERATIONS FOR THE THREE MONTHS ENDED JUNE 30, 2020
---

During the three-month period ended June 30, 2020, the Company recorded net income before tax of $1.8 million (Q1 F2020 - $5.6 million).

Revenue:

• Revenue of $6.6 million from the mining of digital currencies, including 25,572 Ethereum and 154 Bitcoin.

Operating expenses:

• Operating and maintenance costs were $4.0 million consisting of fees paid to suppliers including local electricity providers, as well as service provider Blockbase, and includes electricity, daily monitoring and maintenance and all other costs directly related to the maintenance and operation of the data centre equipment; and
• Depreciation for the quarter of $1.6 million related to the Company's data centre equipment and right to use assets.

Gain on sale of digital currencies:

• The Company continued to sell digital currencies and received proceeds of $6.4 million during the three-month period ended June 30, 2020; the Company recognized a gain on sale of $747,466 in relation to the sale of digital currencies with a cost base of $5.7 million.

Revaluation of digital currencies:

• The Company recorded a gain of $1.3 million related to the quarterly revaluation of its portfolio of digital currencies.

General and administrative expenses:

• Management fees, salaries, and wages of $119,771 relating to head office and overseas management and director fees;
• Marketing fees and branding fees of $37,716 in relation to marketing programs carried out concurrent with the ongoing branding of the Company's business;
• Office and administration expenses of $715,284 relating to general corporate expenditures for the Company's offices in Vancouver, Bermuda and Zug; and
• Professional fees, advisory and consulting of $75,832 consisting of legal, auditing and tax fees indirectly related to the Company's current and future growth plans and consulting fees in relation to corporate development and strategy services.

Other items:

• Share based compensation expense of $395,989 in relation to the options and restricted share units vested in the period;
• Foreign exchange gain of $217,525; and
• Finance expense of $114,754.

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HIVE Blockchain Technologies Ltd. <br>Management's Discussion and Analysis of Financial Condition and Results of Operations<br><br> <br>June 30, 2021<br><br> <br>Expressed in US Dollars unless otherwise indicated
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SUMMARY OF QUARTERLY RESULTS
---

The following tables summarize the Company's financial information for the last eight quarters in accordance with IFRS:

	Q1 2022	Q4 2021	Q3 2021	Q2 2021
	$	$	$
Revenue	37,239,767	33,420,171	13,707,879	12,989,592
Net income	18,591,912	14,319,504	17,210,513	9,210,973
Basic and diluted income per share	0.05	0.04	0.05	0.03
				Restated
	Q1 2021	Q4 2020	Q3 2020	Q2 2020
	$	$	$
Revenue	6,580,282	5,251,311	5,003,944	10,626,000
Net income (loss)	1,798,694	921,201	3,388,016	(11,526,822
Basic and diluted income (loss) per share	0.00	0.00	0.01	(0.04

All values are in US Dollars.

LIQUIDITY AND CAPITAL RESOURCES

The Company commenced earning revenue from digital currency mining in mid-September 2017, however it has limited history and no assurances that historical performance will be indicative of future performance.  The Company is reliant on external financing to take advantage of growth opportunities and its ability to continue as a going concern is dependent on the Company's ability to efficiently mine and liquidate digital currencies.

As at June 30, 2021, the Company had a working capital balance of $117.0 million (March 31, 2021 - $97.7 million) and currently has sufficient cash to fund its current operating and administrative costs.

The net change in the Company's cash position as at June 30, 2021 as compared to March 31, 2021 was a decrease of $13.4 million as a result of the following cash flows:

• Cash provided by operating activities of $5.4 million;
• Cash used in investing activities of $25.2 million related to the purchase of mining equipment, and deposits on mining equipment; and
• Cash provided by financing activities of $6.3 million due share offerings and the exercise of stock options, offset by lease and debt payments.

OUTSTANDING SHARE DATA

At June 30, 2021 and at the date of this report, the following securities were outstanding:

Total Outstanding as of:	June 30, 2021	Date of this <br>report:	Exercise price <br>range:
Shares outstanding	379,610,359	384,803,513
Restricted Share Units	1,343,500	1,266,500
Stock options	14,249,773	14,113,619	C$0.27 - C$5.03
Warrants	6,250,000	6,250,000	C$1.24 - C$3.00
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HIVE Blockchain Technologies Ltd. <br>Management's Discussion and Analysis of Financial Condition and Results of Operations<br><br> <br>June 30, 2021<br><br> <br>Expressed in US Dollars unless otherwise indicated
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RECONCILIATIONS OF NON-IFRS FINANCIAL PERFORMANCE MEASURES
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The Company has presented certain non-IFRS measures in this document.  The Company believes that these measures, while not a substitute for measures of performance prepared in accordance with IFRS, provide investors an improved ability to evaluate the underlying performance of the Company.  These measures do not have any standardized meaning prescribed under IFRS, and therefore may not be comparable to other issuers.

Gross Mining Margin:

The Company believes that, in addition to conventional measures prepared in accordance with IFRS, it is helpful to investors to use the gross mining margin to evaluate the Company's performance and ability to generate cash flows and service debt.  The Gross mining margin is defined as the revenue from the mining of digital currencies less direct cash costs, being operating and maintenance costs.  Accordingly, this measure does not have a standard meaning and is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

The following table provides illustration of the calculation of the gross mining margin for the last four quarters:

Calculation of Gross Mining Margin:		Q1 2022			Q4 2021			Q3 2021			Q2 2021
Revenue (1)	$	37,239,767		$	33,420,171		$	13,707,879		$	12,989,592
Less:
Operating and maintenance costs:		(6,220,684	)		(5,726,129	)		(3,078,934	)		(3,780,716	)
Gross Mining Margin	$	31,019,083		$	27,694,042		$	10,628,945		$	9,208,876
Gross Mining Margin %		83%			83%			78%			71%

(1) As presented on the statements of income (loss) and comprehensive income (loss).

EBITDA & Adjusted EBITDA

The Company uses EBITDA and Adjusted EBITDA as a metric that is useful for assessing its operating performance on a cash basis before the impact of non-cash items and acquisition related activities.

EBITDA is net income or loss from operations, as reported in profit and loss, before finance income and expense, tax and depreciation and amortization.

Adjusted EBITDA is EBITDA adjusted for removing other non-cash items, including share-based compensation, non-cash effect of the revaluation of digital currencies and one-time transactions.

The following table provides illustration of the calculation of EBITDA and Adjusted EBITDA for the last four quarters:

Calculation of EBITDA & Adjusted EBITDA:	Q1 F2022		Q4 F2021		Q3 F2021		Q2 F2021		Q1 F2021
Net income	18,915,487		14,319,504		17,210,513		9,210,973		1,798,694
Add the impact of the following:
Finance expense	319,644		871,941		111,918		115,611		114,754
Depreciation	6,899,182		5,035,231		2,476,592		1,796,774		1,629,869
Tax expense	-		151,366		-		-		-
EBITDA	26,134,313		20,378,042		19,799,023		11,123,358		3,543,317
Revaluation of digital currencies	3,426,017		(16,090,102	)	(6,315,970	)	(993,902	)	(1,325,864	)
Revaluation of derivative liability	885,612		857,702		-		-		-
Loss (gain) on sale of subsidiary	(3,171,275	)	23,442,219		-		-		-
Share-based compensation	2,322,426		534,193		209,726		514,438		395,989
Adjusted EBITDA	29,597,093		29,122,054		13,692,779		10,643,894		2,613,442

(1) As presented on the statements of income (loss) and comprehensive income (loss).

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HIVE Blockchain Technologies Ltd. <br>Management's Discussion and Analysis of Financial Condition and Results of Operations<br><br> <br>June 30, 2021<br><br> <br>Expressed in US Dollars unless otherwise indicated
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RELATED PARTY TRANSACTIONS
---

The Company had the following related party transactions not otherwise disclosed in these consolidated financial statements:

(a) As at June 30, 2021, the Company had $41,149 (March 31, 2020 - $182,787) due to directors for the reimbursement of expenses included in accounts payable and accrued liabilities.

Key Management Compensation

Key management personnel include those persons having authority and responsibility for planning, directing and controlling the activities of the Company as a whole. The Company has determined that key management personnel consist of members of the Company's Board of Directors and corporate officers.

For the period ended June 30, 2021, key management compensation includes salaries and wages paid to key management personnel and directors of $140,547 (June 30, 2020 - $216,443) and share-based payments of $1,078,380 (June 30, 2020 - $371,602).

CRITICAL ACCOUNTING POLICIES AND ESTIMATES

The Company has prepared the consolidated financial statements in accordance with IFRS.  Significant accounting policies are described in Note 5 of the Company's financial statements as at and for the year ended March 31, 2021.

The preparation of financial statements in conformity with IFRS requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period.  Actual outcomes could differ from these estimates.

The Company's significant judgements are detailed in Note 3 to the condensed interim consolidated financial statements for the period ended June 30, 2021, and include: functional currency, classification of digital currencies as current assets, asset acquisitions, and revenue from digital currency mining.

The Company's significant estimates are detailed in Note 4 to the condensed interim consolidated financial statements for the period ended June 30, 2021 and include: determination of asset fair values and allocation of purchase consideration, carrying value of assets, depreciation, deferred taxes, digital currency valuation and share-based compensation.

FINANCIAL INSTRUMENTS AND FINANCIAL RISK MANAGEMENT

The Company is exposed, in varying degrees, to a variety of financial related risks.  The fair value of the Company's financial instruments, including cash, amounts receivable and accounts payable and accrued liabilities approximates their carrying value due to their short-term nature.  The type of risk exposure and the way in which such exposure is managed is provided in Note 22 to the condensed interim consolidated financial statements for the period ended June 30, 2021.

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HIVE Blockchain Technologies Ltd. <br>Management's Discussion and Analysis of Financial Condition and Results of Operations<br><br> <br>June 30, 2021<br><br> <br>Expressed in US Dollars unless otherwise indicated
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DIGITAL CURRENCY AND RISK MANAGEMENT
---

Digital currencies are measured using level two fair values, determined by taking the rate from quoted price from the exchanges which the Company most frequently uses, with no adjustment.

Digital currency prices are affected by various forces including global supply and demand, interest rates, exchange rates, inflation or deflation and the global political and economic conditions.  The profitability of the Company is directly related to the current and future market price of coins; in addition, the Company may not be able liquidate its inventory of digital currency at its desired price if required.  A decline in the market prices for coins could negatively impact the Company's future operations.  The Company has not hedged the conversion of any of its coin sales or future mining of digital currencies.

Digital currencies have a limited history and the fair value historically has been very volatile.  Historical performance of digital currencies is not indicative of their future price performance.  The Company's digital currencies currently consist of Ethereum, Ethereum Classic, and Bitcoin.  The table below shows the impact of the 25% variance in the price of each of these digital currencies on the Company's earnings before tax, based on their closing prices at June 30, 2021.

		Impact of 25% variance in price
Ethereum	$	15,765,331
Ethereum Classic		23,424
Bitcoin		4,758,195
RISKS AND UNCERTAINTIES
---

The Company faces several risks that are related to both the general cryptocurrency business as well as the Company's business model.  The risk factors described below summarize and supplement the risk factors contained in the Company's continuous disclosure filings, and this MD&A, all of which are available on SEDAR at www.sedar.com, and should be read in conjunction with the more detailed risk factors outlined therein.

The Company is at risk due to the volatility/momentum pricing of any underlying digital currency mined by the Company and held in inventory - wide fluctuations in price, speculation, negative media coverage (highlighting for example, regulatory actions and lawsuits against industry participants) and downward pricing may adversely affect investor confidence, and ultimately, the value of the Company's digital currency inventory which may have a material adverse affect on the Company, including an adverse effect on the Company's profitability from current operations.  The Company is also at risk due to the volatility of network hashrates (and lag between network hashrate and underlying cryptocurrency pricing), which may have an adverse effect on the Company's costs of mining.  The Company is also at risk due to volatility in energy (electricity) pricing, a key factor in the Company's profitability of its mining operations, which is subject to, among other things, government regulation and natural occurrences which affect pricing.

The Company holds it digital currencies in cold storage solutions not connected to the internet.  The Company may not be able to liquidate its digital currency inventory at economic values, or at all.  Due to the infancy of the cryptocurrency industry, the Company may have restricted access to services available to more mainstream businesses (for example, banking services).  The general acceptance and use of digital currencies may never gain widespread or significant acceptance, which may materially adversely affect the value of the Company's digital currency inventory and long-term prospects of current operations.

An additional risk to the Company arises because of the potential shift from the use of a proof of work validation model by the Ethereum network to a proof of stake model.  The current proposal for Ethereum's shift to proof of stake has several unknown variables, including uncertainty over timing, execution and ultimate adoption; and there is not yet a definitive plan that is established and approved.  As a result of these uncertainties, the Company cannot estimate the impact of a potential change to proof of stake on operations but may see its competitive advantages decrease over time; this may have a material adverse effect on the Company.

The Company also faces risk relating to the impact of the timing and exchange rate fluctuations resulting from the remittance and receipt back of value added taxes where due, as well as risks related to the imposition and quantum of value added taxes in jurisdictions where the Company operates.  Due to the newness of the industry, there exists the possibility that the tax treatment of digital currencies becomes less favourable, which could have a material adverse effect on the Company.

Page 19
HIVE Blockchain Technologies Ltd. <br>Management's Discussion and Analysis of Financial Condition and Results of Operations<br><br> <br>June 30, 2021<br><br> <br>Expressed in US Dollars unless otherwise indicated
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The Company may be required to sell its digital currency inventory in order to pay for its ongoing expenses (and in particular, expenses to maintain the Company's facilities), and such sales may not be available at economic values.

The Company has only been able to insure its mined digital currency for an amount of $1.0 million.  Given the novelty of digital currency mining and associated businesses, insurance of this nature is generally not available, or uneconomical for the Company to obtain which leads to the risk of inadequate insurance cover.  The occurrence of an event that is not covered or fully covered by the Company's existing insurance may have a material adverse affect on the Company.  Additionally, while the Company takes measure to mitigate against losses of this nature, the Company's mined digital currency may be subject to loss, theft or restriction on access, including loss due to cybercrime (hacking).

In terms of regulatory risks, governments may take action in the future that prohibit or restrict the right to acquire, own, hold, sell, use or trade digital currencies or exchange digital currencies for fiat currency.  Such restrictions, while impossible to predict, could result in the Company liquidating its digital currencies inventory at unfavorable prices which may have a material adverse affect on the Company.  The Company has liquidated a portion of coins, partially to mitigate against the aforementioned risk.

The Company also has risks associated with the continually evolving tax and regulatory environments in the countries we operate, as described more fully under the heading "Industry subject to evolving regulatory and tax landscape" in the Outlook section above.  Any final decisions by tax or regulatory agencies with jurisdiction over the Company may have a material adverse impact on the Company's financial position and operations

The Company cautions that current global uncertainty with respect to the spread of the COVID-19 virus and its effect on the broader global economy may have a significant negative effect on the Company. In particular, as a result of the uncertainty surrounding the impact of COVID-19 on global supply chains, including increased shipping costs and delays in obtaining equipment from China, the Company faces risks that the Company's program to update and expand the Company's GPU equipment will not complete as currently anticipated, which may cause material adverse effects on the Company's operations and results. Further, while the precise impact of the COVID-19 virus on the Company remain unknown, rapid spread of the COVID-19 virus may have a material adverse effect on global economic activity and can result in volatility and disruption to global supply chains, operations, mobility of people and the financial markets, which could affect interest rates, credit ratings, credit risk, inflation, business, financial conditions, results of operations and other factors relevant to the Company.

HIVE has undertaken a program to upgrade and expand its GPU equipment to maintain its Ethereum mining industry footprint. HIVE intended to complete this project by the end of 2020, however the negative impact on the global supply chain related to the COVID-19 pandemic has presented challenges including increased shipping costs and obtaining equipment from China on a timely basis, which has led to delays of the project into calendar 2021. Additionally, the Company faces uncertainty in the availability of equipment from suppliers as it relates to the Company's ASIC equipment.

CAUTION REGARDING FORWARD LOOKING INFORMATION

This Management Discussion and Analysis contains certain "forward-looking information" within the meaning of Canadian securities legislation.  Forward-looking information is based on the beliefs, estimates and opinions of the Company's management on the date the statements are made, and they involve a number of risks and uncertainties.  Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.

Forward-looking information in this Management Discussion and Analysis includes information about the Company's use and profitability of the Company's computing power; plans for an aggressive growth and scaling up strategies; the Company's strategic partnership with Blockbase, including expected enhancements of the efficiency of the Company's GPU mining operations and reduced cost thereon; the Company's strategy to rapidly acquire, develop and operate data centres and potential growth of the Company's computing capacity; the Company's program to upgrade and expand its GPU equipment to maintain its Ethereum mining industry footprint, including timing thereon; expected electrical and mining capacity; the Company's plans to upgrade and expand its GPU equipment; the Company's plans to manage its data centres and trading operations from Bermuda; the value of the Company's digital currency inventory; the business goals and objectives of the Company, and other forward-looking information including but not limited to information concerning the intentions, plans and future actions of the Company.

Page 20
HIVE Blockchain Technologies Ltd. <br>Management's Discussion and Analysis of Financial Condition and Results of Operations<br><br> <br>June 30, 2021<br><br> <br>Expressed in US Dollars unless otherwise indicated
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The forward-looking information in this Management Discussion and Analysis reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company.  In connection with the forward-looking information contained in this Management Discussion and Analysis, the Company has made assumptions about the expected delivery time for GPU equipment; historical prices of digital currencies and the ability of the Company to mine digital currencies 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.  Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

This Management Discussion and Analysis also contains "financial outlook" in the form of gross mining margins, which are intended to provide additional information only and may not be an appropriate or accurate prediction of future performance and should not be used as such.  The gross mining margins disclosed in this Management Discussion and Analysis are based on the assumptions disclosed in this Management Discussion and Analysis, which assumptions are based upon management's best estimates but are inherently speculative and there is no guarantee that such assumptions and estimates will prove to be correct.

Risk factors that could cause future results to differ materially from those anticipated in these forward-looking statements and financial outlook are described in the Risk Factors contained in this Management Discussion and Analysis, and the Risk Factors contained the Company's various filings on SEDAR (www.sedar.com).  Readers are cautioned not to place undue reliance on forward-looking information or financial outlook, which speak only as of the date hereof.  We undertake no obligation to publicly release the results of any revisions to forward-looking information or financial outlook that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events except as required by law.

MANAGEMENT'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING

In connection with National Instrument ("NI") 52-109 (Certification of Disclosure in Issuer's Annual and Interim Filings) adopted in December 2008 by each of the securities commissions across Canada, the Chief Executive Officer and Chief Financial Officer of the Company will file a Venture Issuer Basic Certificate with respect to the financial information contained in the unaudited condensed interim financial statements and the audited annual financial statements and respective accompanying Management's Discussion and Analysis.

Additional information relating to the Company is available on SEDAR at www.sedar.com.

FURTHER INFORMATION

Additional information relating to the Company, including filings that the Company has made and may make in the future with applicable securities authorities, may be found on or through SEDAR at www.sedar.com or the Company's website at www.hiveblockchain.com. Additional information, including directors' and officers' remuneration and indebtedness, principal holders of Company's securities and securities authorized for issuance under equity compensation plans, is also contained in the Company's most recent management information circular for the most recent annual meeting of Shareholders of the Company. In addition to press releases, securities filings and public conference calls and webcasts, the Company intends to use its investor relations page on its website as a means of disclosing material information to its investors and others and for complying with its disclosure obligations under applicable securities laws. Accordingly, investors and others should monitor the website in addition to following the Company's press releases, securities filings, and public conference calls and webcasts. This list may be updated from time to time.

Page 21

HIVE Blockchain Technologies Ltd.: Exhibit 99.3 - Filed by newsfilecorp.com

Form 52-109FV2

Certification of Interim Filings - Venture Issuer Basic Certificate

I, Frank Holmes, Interim Chief Executive Officer of HIVE Blockchain Technologies Ltd., certify the following:

1. Review: **** I have reviewed the interim financial report and interim MD&A (together, the "interim filings") of HIVE Blockchain Technologies Ltd. (the "issuer") for the interim period ended June 30, 2021.

2. No misrepresentations: **** Based on my knowledge, having exercised reasonable diligence, the interim filings do not contain any untrue statement of a material fact or omit to state a material fact required to be stated or that is necessary to make a statement not misleading in light of the circumstances under which it was made, with respect to the period covered by the interim filings.

3. Fair presentation: **** Based on my knowledge, having exercised reasonable diligence, the interim financial report together with the other financial information included in the interim filings fairly present in all material respects the financial condition, financial performance and cash flows of the issuer, as of the date of and for the periods presented in the interim filings.

Date:  October 1, 2021.

Signature:	"Frank Holmes"
	Frank Holmes, Interim Chief Executive Officer

NOTE TO READER

In contrast to the certificate required for non-venture issuers under National Instrument 52-109 Certification of Disclosure in Issuers' Annual and Interim Filings (NI 52-109), this Venture Issuer Basic Certificate does not include representations relating to the establishment and maintenance of disclosure controls and procedures (DC&P) and internal control over financial reporting (ICFR), as defined in NI 52-109. In particular, the certifying officers filing this certificate are not making any representations relating to the establishment and maintenance of

i) controls and other procedures designed to provide reasonable assurance that information required to be disclosed by the issuer in its annual filings, interim filings or other reports filed or submitted under securities legislation is recorded, processed, summarized and reported within the time periods specified in securities legislation; and

ii) a process to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with the issuer's GAAP.

The issuer's certifying officers are responsible for ensuring that processes are in place to provide them with sufficient knowledge to support the representations they are making in this certificate.  Investors should be aware that inherent limitations on the ability of certifying officers of a venture issuer to design and implement on a cost effective basis DC&P and ICFR as defined in NI 52-109 may result in additional risks to the quality, reliability, transparency and timeliness of interim and annual filings and other reports provided under securities legislation.

HIVE Blockchain Technologies Ltd.: Exhibit 99.4 - Filed by newsfilecorp.com

Form 52-109FV2

Certification of Interim Filings - Venture Issuer Basic Certificate

I, Darcy Daubaras, Chief Financial Officer of HIVE Blockchain Technologies Ltd., certify the following:

1. Review: **** I have reviewed the interim financial report and interim MD&A (together, the "interim filings") of HIVE Blockchain Technologies Ltd. (the "issuer") for the interim period ended June 30, 2021.

2. No misrepresentations: **** Based on my knowledge, having exercised reasonable diligence, the interim filings do not contain any untrue statement of a material fact or omit to state a material fact required to be stated or that is necessary to make a statement not misleading in light of the circumstances under which it was made, with respect to the period covered by the interim filings.

3. Fair presentation: **** Based on my knowledge, having exercised reasonable diligence, the interim financial report together with the other financial information included in the interim filings fairly present in all material respects the financial condition, financial performance and cash flows of the issuer, as of the date of and for the periods presented in the interim filings.

Date:  October 1, 2021.

Signature:	"Darcy Daubaras"
	Darcy Daubaras, Chief Financial Officer

NOTE TO READER

In contrast to the certificate required for non-venture issuers under National Instrument 52-109 Certification of Disclosure in Issuers' Annual and Interim Filings (NI 52-109), this Venture Issuer Basic Certificate does not include representations relating to the establishment and maintenance of disclosure controls and procedures (DC&P) and internal control over financial reporting (ICFR), as defined in NI 52-109. In particular, the certifying officers filing this certificate are not making any representations relating to the establishment and maintenance of

i) controls and other procedures designed to provide reasonable assurance that information required to be disclosed by the issuer in its annual filings, interim filings or other reports filed or submitted under securities legislation is recorded, processed, summarized and reported within the time periods specified in securities legislation; and

ii) a process to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with the issuer's GAAP.

The issuer's certifying officers are responsible for ensuring that processes are in place to provide them with sufficient knowledge to support the representations they are making in this certificate.  Investors should be aware that inherent limitations on the ability of certifying officers of a venture issuer to design and implement on a cost effective basis DC&P and ICFR as defined in NI 52-109 may result in additional risks to the quality, reliability, transparency and timeliness of interim and annual filings and other reports provided under securities legislation.