HIVE Blockchain Technologies Ltd. announced that it has entered into binding letter agreements dated December 13, 2017 with its strategic partner and major shareholder, Genesis Mining Ltd. ('Genesis') to significantly expand the company's digital currency mining operations in Sweden in 2018, including the addition of a large-scale Bitcoin mining facility. The company to enter the Bitcoin mining market through the acquisition of new custom-designed ASIC-based digital currency mining rigs from Genesis on attractive terms, to be deployed at a facility being constructed by Genesis in Sweden (such portion of the data centre housing HIVE's rigs, the "Sweden Bitcoin Data Centre"). The Sweden Bitcoin Data Centre will consist of newly constructed SHA-256 based ASICs for digital currencies such as Bitcoin and Bitcoin Cash mining at an estimated rate of 200 PH/s and supporting an approximate consumption of 20 MW of electricity. The Equipment will be designed for efficiency and scale utilizing Genesis' expertise, and will be acquired for consideration of an estimated $34 million. Pursuant to a master services agreement between the Company and Genesis, Genesis will be responsible for hosting, maintenance and related services for the Sweden Bitcoin Data Centre for a monthly fee. Genesis expects to break ground on the new facility in May 2018 and the Sweden Bitcoin Data Centre is expected to come online by September 2018. In addition to the Sweden Bitcoin Data Centre, HIVE announced that it will finance the construction of a third phase of GPU-based digital currency mining rigs at its previously-announced GPU-based data centre in Sweden (the ‘Sweden GPU Data Centre’). The Phase 3 Expansion is expected to add an additional 6.8 MW of energy consumption dedicated to digital currency mining to increase the total energy consumption of the Sweden GPU Data Centre to an estimated 20 MW. Completion of the Phase 3 Expansion is subject to a number of conditions, including but not limited to, Exchange approval as required, and completion of the Offering.