Mr. Aydin Kilic reports

HIVE DIGITAL TECHNOLOGIES SURPASSES 11 EH/S BITCOIN HASHRATE MILESTONE AS 100 MW PHASE 1 IN PARAGUAY COMPLETED AHEAD OF SCHEDULE - COMPANY ON TRACK TO REACH 25 EH/S BY THANKSGIVING

Hive Digital Technologies Ltd. has surpassed 11 exahashes per second of global bitcoin mining hash rate, achieving an operational hash rate of 11.4 EH/s. This milestone marks the early and successful completion of phase 1 (100 megawatts) of Hive's Yguazu site in Paraguay -- a pivotal step in its mission to scale to 25 EH/s by American Thanksgiving 2025.

Over the past five weeks, Hive has steadily increased its installed hash rate by approximately one EH/s per week, reaching 11 EH/s last week. The company has since grown to 11.5 EH/s and expects to maintain this level under typical operating conditions. As summer temperatures rise across Hive's Canadian data centres, minor fluctuations in daily hash rate are expected as the company optimizes ASIC performance for seasonal conditions.

A strategic, sustainable expansion

Hive's expansion into Paraguay reflects its long-term vision of harnessing low-cost, 100-per-cent-renewable hydroelectricity in nations aligned with U.S. interests and committed to sustainable growth. The company has fully financed its expansion and is making significant progress with phase 2 of its Paraguay buildout. New Bitmain S21+ Hydro ASICs have arrived and are being prepared for deployment in state-of-the-art hydro containers, with an expected ramp-up to 18 EH/s by late summer.

Delivering value for stakeholders and communities alike

Hive's investment in Paraguay goes beyond digital infrastructure. It is an investment in communities. In partnership with local authorities, Hive has:

• Created hundreds of construction jobs, supporting the expansion of Paraguay's electrical grid infrastructure;
• Financed and implemented the installation of air conditioning units in junior schools, providing a better learning environment for children;
• Supported the installation of new night lighting across the streets of Valenzuela, enhancing public safety and quality of life;
• Committed to long-term economic benefits by paying for energy in U.S. dollars, reinforcing the local currency and promoting economic stability.

Leadership commentary

Frank Holmes, co-founder and executive chairman of Hive, stated: "Reaching 11 EH/s more than two weeks ahead of schedule demonstrates Hive's ability to rapidly scale and operate at the highest levels. We're proud to build this state-of-the-art infrastructure in Paraguay -- a nation that shares our long-term vision and embraces the benefits of sustainable digital infrastructure. Our expansion benefits both our shareholders and the local communities that host and support our facilities. We are well positioned to continue this growth trajectory and are fully committed to reaching 25 EH/s by American Thanksgiving 2025."

Aydin Kilic, president and chief executive officer of Hive, added: "Having recently toured our sites in Paraguay, I'm deeply impressed by the quality, efficiency and professionalism of our operations. Our data centres in Yguazu and Valenzuela are truly world-class facilities -- a testament to the hard work of our team and the strong collaboration with local partners. We're on schedule to ramp to 18 EH/s this summer and remain confident in achieving 25 EH/s by American Thanksgiving. Together, we're building a future where digital infrastructure and sustainable growth go hand in hand."

Coming earnings call

Hive will release its fiscal fourth quarter and full-year results for the period ended March 31, 2025, on Thursday, June 26, 2025, before market open. An earnings conference call and webcast will follow at 8 a.m. EST.

Please register and participate.

About Hive Digital Technologies Ltd.

Founded in 2017 as the first publicly traded crypto miner on the TSX Venture Exchange, Hive builds and operates sustainable blockchain and artificial intelligence infrastructure powered exclusively by renewable hydroelectric energy. With a global footprint across Canada, Sweden and Paraguay, Hive is committed to operational excellence, green energy leadership and creating long-term value for its shareholders and host communities.

We seek Safe Harbor.