Mr. Frank Holmes reports

HIVE DIGITAL ANNOUNCES AMENDED AT-THE-MARKET EQUITY PROGRAM

Hive Digital Technologies Ltd. has entered into an amended and restated equity distribution agreement with Canaccord Genuity and Stifel GMP to amend the company's at-the-market (ATM) program. The equity distribution agreement restates and supersedes the previous equity distribution agreement, dated May 10, 2023, between the company and the agents, expanding the prior Canadian at-the-market program to the United States.

Under the equity distribution agreement, the company may sell up to $90-million (U.S.) of common shares of the company. The common shares will be issued by the company to the public from time to time, through the agents, at the company's discretion. The common shares sold under the ATM program, if any, will be sold at the prevailing market price at the time of sale.

Under the equity distribution agreement, sales of common shares will be made by the agents through at-the-market distributions as defined in National Instrument 44-102, Shelf Distributions, on the TSX Venture Exchange and the Nasdaq Stock Market. The company is not obligated to make any sales of common shares under the equity distribution agreement. Unless earlier terminated by the company or the agents as permitted therein, the equity distribution agreement will terminate as of the date that the aggregate gross sales proceeds of the common shares sold under the ATM program reaches the aggregate amount of $90-million (U.S.).

The company intends to use the net proceeds of the ATM program, if any, principally for general corporate and working capital requirements, financing continuing operations, to repay indebtedness outstanding from time to time, to complete future acquisitions, or for other corporate purposes.

The ATM program is being made pursuant to an amended and restated prospectus supplement to the company's short form base shelf prospectus dated May 1, 2023, amending and restating the prospectus supplement previously filed on May 10, 2023, and a U.S. registration statement on Form F-10 filed on the date hereof. The prospectus supplement has been filed with the securities regulatory authorities in each of the provinces and territories of Canada, and is included in the registration statement filed with the United States Securities and Exchange Commission.

Copies of the prospectus supplement and the base shelf prospectus are available on SEDAR+ and copies of the registration statement, including the prospectus supplement, are available on EDGAR. Copies of such documents may also be obtained from Canaccord Genuity, attention syndicate department, on the 12th floor, 99 High St., Boston, Mass., 02110, or by e-mail at prospectus@cgf.com, and Stifel GMP, attention ECM, 161 Bay St., Suite 3800, Toronto, Ont., M5J 2S1, or by e-mail at ecmcanada@stifel.com. Such documents contain important information about the ATM program. Prospective investors should read the prospectus supplement and the base shelf prospectus, as well as the registration statement, before making an investment decision.

About Hive Digital Technologies Ltd.

Hive became a public company in 2017 as the first cryptocurrency mining company on the TSX Venture Exchange with a green energy focus. Hive owns state-of-the-art, green-energy-powered data centre facilities in Canada, Sweden and Iceland, where the company mines bitcoin.

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