Mr. Frank Holmes reports

HIVE DIGITAL ANNOUNCES FILING OF FINAL PROSPECTUS AND AUTOMATIC EXERCISE OF SPECIAL WARRANTS

Hive Digital Technologies Ltd. has filed a final short form prospectus dated Jan. 30, 2024, with the securities regulatory authorities in British Columbia and Ontario, in connection with its private placement of 5.75 million special warrants completed on Dec. 28, 2023. The prospectus qualifies for a distribution of 5.75 million units issuable upon the automatic exercise of the special warrants for no additional consideration. Stifel Canada and Canaccord Genuity Corp. acted as co-lead underwriters and joint bookrunners.

In accordance with the terms of a special warrant indenture dated Dec. 28, 2023, between the company and TSX Trust Company, as a result of filing the prospectus and the satisfaction of the qualification deadline, effective on or around Feb. 6, 2024, each special warrant will automatically be exercised into one unit composed of one common share of the company and one-half of one common share purchase warrant. Each warrant is exercisable for one share until Dec. 28, 2026, at an exercise price of $6 per share. For further information on the special warrants, please see the company's news release dated Dec. 28, 2023, a copy of which is available on SEDAR+.

A copy of the prospectus, including the documents incorporated by reference therein, is available under the company's SEDAR+ profile.

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 industry. As a company whose shares trade on a major stock exchange, it is building a bridge between the digital currency and blockchain sector and traditional capital markets. Hive owns green-energy-powered data centre facilities in Canada, Sweden and Iceland, where it endeavours to source geothermal and hydroelectric 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 ETH and 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 space.

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