HIVE Blockchain Technologies (NASDAQ: HIVE) (TSX.V: HIVE) (FSE: HBF) today announced that, further to its May 10 press release, the company will be proceeding with the consolidation of its common shares on the basis of five pre-consolidation common shares for one post-consolidation common share. The common shares will commence trading on the TSX Venture Exchange ("TSXV") and Nasdaq on a post-consolidation basis effective at the opening of the market on May 24, 2022. Completion of the consolidation is subject to receipt of all necessary regulatory approvals, including TSXV approval and pursuant to the Business Corporations Act (British Columbia) and the articles of the company. "HIVE has accomplished an incredible amount over the past few years. Today we're one of the most profitable and fastest-growing crypto miners in the world," said Frank Holmes, executive chairman of HIVE. "Despite our record profitability, HIVE shares trade at around a 2.2 P/E ratio as of May 23, 2022.