Mr. Aydin Kilic reports

HIVE DIGITAL TECHNOLOGIES EXCEEDS 12 EH/S MILESTONE, ACHIEVES $250 MILLION ANNUAL RUN RATE REVENUE AS PARAGUAY EXPANSION PROGRESSES

Hive Digital Technologies Ltd. has exceeded 12 exahashes per second of global bitcoin mining hash rate -- doubling from six EH/s at the start of 2025 -- and has surpassed a $250-million annualized run rate* revenue.

This performance milestone reflects Hive's extraordinary buildout in Yguazu, Paraguay, where the company is rapidly constructing three state-of-the-art, hydro-powered data centre campuses, intending to transform the region into a new epicentre of bitcoin innovation and renewable infrastructure.

From vision to velocity

The expansion of phase 2 at the Yguazu site is well under way, with one EH/s of next-generation Bitmain S21+ Hydro ASIC miners now hashing in Hive's fleet, with full deployment expected to reach 6.5 EH/s by late August. With this momentum, the company remains on track to achieve 18 EH/s by summer's end and 25 EH/s by American Thanksgiving 2025.

"Hive has doubled in its EH/s in just six months, a testament to our team's relentless execution and our strategic vision," said Frank Holmes, co-founder and executive chairman. "We're building high performance campuses at hyperspeed, turning Paraguay into a global hub for sustainable bitcoin mining data centres and laying the groundwork for the AI data centre era now soaring."

Operational scale with expanding margins

"Phase 2 is already on-line and hashing efficiently with 20 J/TH fleet performance," said Aydin Kilic, president and chief executive officer. "As of yesterday, we achieved a $250-million annual run rate* revenue as we are now mining over six BTC daily across our global bitcoin operations, and growing, at a mining margin* of approximately 55 per cent. Once we hit 18 EH/s, we expect approximately $400-million in annual run rate revenue, with 18.5 J/TH global average fleet efficiency and expanding mining margins* approaching 60 per cent after electrical costs at current hash price."

Setting new standards in speed, scale and impact

Hive's Paraguayan development is being recognized across the industry as a blueprint for infrastructure execution, striking a balance between unprecedented deployment speed and deep community impact.

The project has already generated hundreds of local jobs, energized new regional infrastructure and set a global benchmark for sustainability in digital asset mining.

"The velocity of Hive's buildout in Paraguay is breathtaking," said Luke Rossy, chief operating officer. "Gabriel Lamas and his local team are working around the clock. They're not just meeting industry expectations. They're rewriting them."

"What's truly remarkable is the vision of Hive's executive team and their unwavering belief in Paraguay," said Gabriel Lamas, Hive's country president. "We're not just building data centres. We're creating economic opportunity, delivering social impact by lighting the streets of Valenzuela at night and installing air conditioning in local grade schools, and developing digital infrastructure on a scale few thought possible."

* As used herein, mining margin is calculated by dividing the mining profit (revenue generated from mining activities minus power costs related to those activities) by the total revenue generated from mining activities and expressed as a percentage. In mining, the most significant expense is power costs. These non-generally accepted accounting principle measures should be read in conjunction with and should not be viewed as alternatives to or replacements for measures of operating results and liquidity presented in accordance with GAAP in Hive's quarterly and annual financial statements.

About Hive Digital Technologies Ltd.

Founded in 2017, Hive builds and operates sustainable blockchain and artificial intelligence infrastructure data centres, powered exclusively by renewable hydroelectric energy. With a global footprint in Canada, Sweden and Paraguay, Hive is committed to operational excellence, green energy leadership, and scaling the future of digital finance and computing, while creating long-term value for its shareholders and host communities.

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