Calculating SHA1 hash algorithm in PowerShell V2.0
I can't remember back in PowerShell V2 days if .NET 3.5 was typically installed too. I think it's the case.
You can always try the following and see if it works:
$file = 'd:\scripts\sha1.ps1'
$sha1 = New-Object System.Security.Cryptography.SHA1CryptoServiceProvider
[System.BitConverter]::ToString( $sha1.ComputeHash([System.IO.File]::ReadAllBytes($file)))
Replace the value of $file
with the name of a file you have.