Mr. Aydin Kilic reports

HIVE DIGITAL TECHNOLOGIES SURPASSES 10 EH/S OF BITCOIN HASHRATE AS EXPANSION IN PARAGUAY ACCELERATES

Hive Digital Technologies Ltd. has surpassed 10 exahashes per second of global bitcoin mining hash rate, and in the process has added one EH/s each week for the past month.

As of today, Hive reports a total operating hash rate of over 10 EH/s and is ahead of schedule to reach its phase 1 objective of 11.5 EH/s by the end of June, 2025, with a global fleet efficiency of 20 joules per terahash.

Hive continues to execute on its strategic expansion toward its 25 EH/s target for calendar fourth quarter 2025 and is working hard to maintain the cadence of its rapid scaling. The company notes that this growth is fully financed.

Buzz HPC surpasses growth milestone in HPC cloud and achieves $20-million annualized run-rate revenue ahead of schedule

The company is proud to announce that its high performance computing subsidiary, Buzz HPC, has surpassed a key growth milestone -- reaching a $20-million annualized run-rate revenue in its GPU cloud business. This achievement comes one month ahead of the company's target of June, 2025, underscoring the successful execution of Hive's aggressive HPC expansion strategy.

Buzz HPC's rapid scale-up reflects strong operational momentum, with over 5,000 cutting-edge GPUs actively deployed. This milestone not only validates the company's vision for HPC growth but also reinforces its position as an emerging leader in GPU cloud infrastructure.

Executive commentary

Frank Holmes, co-founder and executive chairman of Hive, commented: "Our HPC growth has outpaced expectations -- from early projections to now reaching $20-million in annualized revenue. With approximately 5,000 GPUs powering AI workloads, we believe our GPU cloud business is a high-value asset, potentially worth 10 to 20 times its annualized cash flows."

Aydin Kilic, president and chief executive officer of Hive, stated: "It is a monumental accomplishment for Hive to reach 10 EH/s, and we are now producing over five bitcoin per day. I am very proud of our team for executing. What is remarkable is we have added approximately one EH/s of bitcoin mining capacity on a weekly basis, exceeding our previous guidance to bring on one EH/s every two weeks. We have done so consecutively for the last month. Our country president Gabriel Lamas has been consistently executing on his targets, embodying the high performance work culture at Hive."

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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