HIVE Blockchain Technologies Ltd. announced the completion of the first phase ('Sweden Phase 1') of a multi-phase build-out of a large-scale GPU-based mining complex in Sweden. HIVE's Sweden Phase 1 operation commenced mining Ethereum on January 15, 2018 and increases the Company's energy consumption dedicated to cryptocurrency mining by over 175% to 10.6MW. HIVE is fully financed to add an additional 13.6MW of GPU mining capacity in Sweden by April 2018 and a further 20.0MW of ASIC mining capacity, facilities capable of mining Bitcoin and Bitcoin Cash, by September 2018. HIVE's expansion into Sweden diversifies the Company's existing operations located in Iceland, where it has been producing newly mined digital currency continuously since September 2017. Sweden Phase 1 is the first digital currency mining facility jointly constructed by HIVE and Genesis Mining Ltd. ('Genesis'). Sweden Phase 1 was completed on budget and utilizes custom Genesis-designed A2 mining rigs that are more efficient than prior generations. Genesis is HIVE's strategic partner and major shareholder and operates the Company's facilities under a master services agreement. Sweden Phase 1 leverages Genesis' years of experience and knowledge gained by creating the leading cryptocurrency mining company, and is highly scalable for future growth. More than twenty Genesis personnel are dedicated to HIVE's multi-phase Sweden expansion. Since HIVE acquired its first large-scale digital currency mine in September 2017, the price of Ethereum has increased by more than 400% with the global market for cryptocurrencies growing from approximately USD 120 billion to over USD 700 billion.