Mr. Aydin Kilic reports

HIVE DIGITAL TECHNOLOGIES WELCOMES GABRIEL LAMAS AS COUNTRY PRESIDENT OF PARAGUAY

Hive Digital Technologies Ltd. has appointed Gabriel Lamas as country president of Paraguay. Mr. Lamas will lead Hive's operations and expansion in the region in this role, reinforcing the company's position as a front-runner in high performance computing and green-energy-powered data centres.

A proven leader in infrastructure and energy

Gabriel Lamas, a highly accomplished electrical engineer, brings over 20 years of expertise in infrastructure, operations and large-scale energy projects. Fluent in three languages, he is known for his technical acumen, leadership and unwavering discipline. A devoted family man and dedicated athlete, Mr. Lamas starts every day with a 5 a.m. workout, a testament to his relentless drive -- qualities that will define his leadership at Hive.

Mr. Lamas has played a pivotal role in shaping Latin America's digital and energy landscape. He led critical technical initiatives and large-scale operational projects as Latin American director of infrastructure and operations and global director of engineering and design at Bitfarms Ltd. His leadership was also instrumental in the Itaipu retrofit tender, where he oversaw the basic engineering phase and secured strategic contracts with top-tier contractors.

At Paraguay's national utility, Ande, Mr. Lamas managed dam reservoir operations, national energy demand forecasting and transmission grid optimization. His contributions to implementing Scada-EMS control centre systems significantly enhanced the country's energy infrastructure, reinforcing his reputation as a visionary in energy efficiency and digital transformation.

Strategic leadership for growth

Frank Holmes, co-founder and executive chairman of Hive, underscored Mr. Lamas's vital role in driving the company's success in Paraguay: "As we become the largest private electricity consumer from Ande, Paraguay's national utility, Hive will play a vital role in generating a steady stream of U.S.-dollar-denominated revenue for the government. Gabriel's ability to execute and lead will be instrumental in ensuring our operations thrive while contributing positively to the local economy."

Beyond the public sector, Mr. Lamas has provided high-level consulting for global manufacturers of power equipment, automation and control systems, showcasing his versatility and deep industry insight.

A natural fit for Hive

Hive chief executive officer and president Aydin Kilic, who, along with Hive's chief operating officer Luke Rossy, met with Mr. Lamas last month as part of their final due diligence in acquiring Bitfarms' assets, spoke highly of Mr. Lamas's leadership and expertise: "When Luke Rossy and I met Gabriel during our final due diligence for acquiring Bitfarms' Paraguay assets, it was immediately clear that he was the right leader to drive our expansion. As an electrical engineer with deep experience in power infrastructure and data centres, he understands the technical and operational aspects of scaling sustainable high performance computing. His discipline and leadership will be invaluable as we establish Hive as Paraguay's premier digital infrastructure operator."

A vision for the future

Expressing his enthusiasm for his new role, Mr. Lamas stated: "I'm honoured to join Hive at such an exciting time. The future of digital services is being shaped right now, and Paraguay is poised to play a key role in this evolution. Hive's commitment to sustainable growth and technological excellence is truly inspiring, and I'm eager to lead our efforts in making this vision a reality."

He continued: "As Hive's country president of Paraguay, I am fully committed to leveraging my expertise to drive innovation, efficiency and sustainable expansion. I will work tirelessly to ensure that our ambitions translate into meaningful impact -- leaving a lasting mark on the digital landscape."

A transformational year ahead

With Hive Digital Technologies at the forefront of sustainable data centre innovation, the company is confident that Mr. Lamas's strategic vision, operational expertise and leadership will propel its Paraguay operations to new heights. His appointment marks an exciting new chapter as Hive continues its transformative growth trajectory into 2025 and beyond.

About Hive Digital Technologies Ltd.

Hive is a pioneering technology company advancing sustainable blockchain and artificial intelligence 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.