Mr. Aydin Kilic reports

HIVE DIGITAL TECHNOLOGIES WELCOMES CRAIG TAVARES AS PRESIDENT AND CHIEF OPERATING OFFICER OF BUZZ HPC TO LEAD GROWTH IN HPC AND GPU CLOUD SERVICES

Hive Digital Technologies Ltd. has appointed Craig Tavares as president and chief operating officer of Buzz HPC, where he will lead the GPU cloud and high performance computing data centre business.

About Mr. Tavares

With over 20 years of experience in digital infrastructure, Mr. Tavares brings a wealth of expertise and a reputation as an innovative leader in the data centre, cloud, telecom and energy industries.

Mr. Tavares began his career by helping develop a metro fibre network and Internet service provider, Toronto Hydro Telecom. He later joined Cogeco, where he held leadership roles in engineering, operations, product management and technology strategy, managing a portfolio of 20 global data centres, public clouds, IP/MPLS networks and HPC hosting services.

At Aptum, he launched a global cloud business and secured partnerships with Microsoft and Amazon Web Services. At Apple, Mr. Tavares led product and program strategy for third party clouds and Apple's data centres. He co-founded Kingston Co-Gen, a portfolio of power plants, where he led mergers and acquisitions and corporate development, and he built one of North America's first HPC data centres directly connected to a power plant.

"We are delighted to welcome Craig Tavares to the Buzz HPC team," said Frank Holmes, co-founder and executive chairman of Buzz HPC, a Hive company. "With his unique skill set of leadership, entrepreneurialism and ethics, alongside his explicit and tacit knowledge of digital infrastructure, cloud and high performance computing, he is a true champion of our vision to scale our HPC business to $100-million in revenue."

Throughout his career, Mr. Tavares has contributed to the growth and success of several scale-up companies in energy, HPC, big data and artificial intelligence, providing strategic insights as both an executive and adviser.

"I'm thrilled to join Buzz to scale the HPC cloud and data centre business, leveraging both new and existing high-quality assets to cater to the most demanding workloads," said Mr. Tavares. "Buzz already provides one of the industry's highest performance sovereign AI GPU platforms powered by renewable energy, and we will expand it through vertically integrated infrastructure and a suite of differentiated HPC service offerings."

Hive is confident that his leadership will be instrumental in accelerating Buzz HPC's growth and success in the rapidly evolving cloud and HPC data centre markets.

Incentive grants

Extensive research from Harvard Business School underscores the value of non-linear rewards and variable long-term incentives in fostering a strong organizational culture, boosting morale and enhancing employee retention. These incentives align employees' interests with the company's long-term success, promoting innovation, resilience and a commitment to strategic initiatives essential for sustained growth and competitive advantage.

Hive's management continues to demonstrate strength and resilience by expanding its bitcoin and HPC footprints -- all while maintaining one of the industry's lowest general and administrative costs per bitcoin mined and minimizing shareholder dilution. To recognize the Hive team's efforts, it has granted restricted share units that will remain non-tradable for another year, ensuring that management stays focused on sustainable and responsible growth.

As part of this initiative, Hive is granting 1.09 million RSUs to select employees, officers, directors and eligible consultants, including Mr. Tavares. These RSUs were issued under the company's RSU plan and are subject to the TSX Venture Exchange's statutory one-year minimum vesting period.

About Hive Digital Technologies Ltd.

Hive is a pioneering technology company advancing sustainable blockchain and AI infrastructure powered by green energy. As the first cryptocurrency miner to go public on the TSX Venture Exchange in 2017, Hive has grown into a global leader in digital asset mining and AI computing. With operations in Canada, Sweden and, soon, Paraguay, Hive continues to innovate while reducing its environmental footprint.