Mr. Aydin Kilic reports

HIVE DIGITAL TECHNOLOGIES ANNOUNCES UPSIZED ATM UNDER THE EXISTING BASE SHELF

Hive Digital Technologies Ltd. has entered into an amended and restated equity distribution agreement among Keefe, Bruyette & Woods Inc., Stifel Nicolaus Canada Inc., Canaccord Genuity, Roth Canada Inc., B. Riley Securities Inc., and Northland Securities Inc. The amended equity distribution agreement restates and supersedes the previous equity distribution agreement, dated Oct. 3, 2025, among the company and the agents, pursuant to which the company sold common shares of the company for aggregate proceeds of $180,773,096 (U.S.). Pursuant to the amended equity distribution agreement, the company may sell up to $119,226,903 (U.S.) of common shares.

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 amended 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 amended equity distribution agreement. The company has the flexibility to terminate the amended equity distribution agreement prior to reaching the $119,226,903 (U.S.) in gross proceeds.

The company intends to use the net proceeds of the ATM program, if any, principally for general corporate and working capital requirements, for 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 established pursuant to an amended and restated prospectus supplement dated May 14, 2025, which has been filed with the securities regulatory authorities in each of the provinces and territories of Canada, supplementing the company's short form base shelf prospectus dated Sept. 11, 2024, and included in the company's registration statement on Form F-10 filed with the U.S. Securities Exchange Commission.

Copies of the prospectus supplement and the base shelf prospectus are available on SEDAR+, and copies of the registration statement, which includes the prospectus supplement, are available on EDGAR. Copies of such documents may also be obtained: from Stifel Nicolaus Canada, attention: 161 Bay St., Suite 3800, Toronto, Ont., M5J 2S1; from Keefe, Bruyette & Woods, attention: 787 7th Ave., fourth floor, New York, N.Y., 10019; or by e-mail at USCapitalMarkets@kbw.com. These documents contain important information about the ATM program. Prospective investors should read the offering documents before making an investment decision.

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 Paraguay, Hive continues to innovate while reducing its environmental footprint.

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