Mr. Frank Holmes reports

HIVE DIGITAL ANNOUNCES PURCHASE OF 7,000 BITMAIN S21 ANTMINERS TO EXPAND PRODUCTION BY 1.4 EXAHASH

Hive Digital Technologies Ltd. has purchased 7,000 units of the new Bitmain S21 Antminers, which will be delivered January through June, 2024.

Once installed in Hive's existing 140 megawatts of green energy infrastructure, Hive's average fleet efficiency will be 25 joules per terahash and 5.8 exahashes of bitcoin mining capacity.

This order brings Hive's purchases of new-generation ASICs last month to a total of 16,800 Bitmain new-generation ASICs, composed of 5,000 S19 kPro Antminers, followed by 4,800 S19 kPro Antminers and now 7,000 S21 Antminers.

Additionally, Hive has an existing inventory fleet of 6.6 exahashes of ASICs. With this delivery of 1.4 exahashes of S21 Antminers, Hive will have a total ASIC capacity of eight exahashes.

Hive's growth plans are to expand production to eight exahashes in 2024, hodl its bitcoin production and continue to expand its HPC platform, utilizing its growing suite of Nvidia chips.

About Hive Digital Technologies Ltd.

Hive went public in 2017 as the first cryptocurrency mining company listed for trading on the TSX Venture Exchange with a sustainable green energy focus.

Hive is a growth-oriented technology stock in the emergent blockchain and high performance computing industry. As a company whose shares trade on major stock exchanges, it is building a bridge between the digital currency and blockchain sectors and traditional capital markets. Hive owns state-of-the-art, green-energy-powered data centre facilities in Canada, Sweden and Iceland, where it endeavours to source green energy to mine digital assets such as bitcoin on the cloud. Since the beginning of 2021, Hive has held in secure storage the majority of its treasury of BTC derived from mining rewards. Its shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of bitcoin. Because Hive also owns hard assets such as data centres and advanced multiuse servers, it believes its shares offer investors an attractive way to gain exposure to the cryptocurrency and high performance computing space.

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