Mr. Aydin Kilic reports

HIVE DIGITAL TECHNOLOGIES PROVIDES AUGUST 2025 PRODUCTION REPORT WITH 22% MONTHLY INCREASE IN BITCOIN PRODUCTION AND PHASE 3 EXPANSION

Hive Digital Technologies Ltd. had a 22-per-cent month-over-month increase in bitcoin production for August, 2025, reflecting both operational strength and continued expansion in Paraguay.

August, 2025, production highlights:

• Bitcoin produced: 247 BTC (versus 203 BTC in July);
• Average daily production: eight BTC per day;
• Hash rate: average hash rate of 16.3 exahashes per second in August, reaching a peak of 18.1 EH/s;
• Fleet efficiency: approximately 18.5 joules per terahash;
• BTC per EH/s: 15.2 BTC.

With phase 2 of the Yguazu project completed, Hive exceeded 18 EH/s of global mining capacity during the month, producing over 8.5 BTC per day powered by renewable hydroelectric energy.

Phase 3 Valenzuela ASICs on-line

Construction at the 100-megawatt phase 3 Valenzuela site is now substantially complete. Deployment of ASICs has begun, with the first six Bitmain S21+ Hydro containers (equal 350 PH/s) on-line. As of today, Hive's global fleet totals 18.5 EH/s.

This milestone represents the third 100 megawatts of green energy infrastructure in Paraguay, moving Hive closer to its target of 25 EH/s by U.S. Thanksgiving 2025. All phase 3 ASICs are fully financed, with additional units scheduled for delivery in the coming weeks.

Upon completion, Hive anticipates daily bitcoin production of approximately 12 BTC, based on current network difficulty. At that scale, Hive expects to represent approximately 2.5 to 3 per cent of the global bitcoin mining network, operating at approximately 17.5 joules per terahash efficiency.

Management commentary

Frank Holmes, co-founder and executive chairman, commented: "After starting 2025 at six EH/s, our global team has already scaled capacity by 200 per cent. This remarkable achievement highlights our ability to execute across nine time zones, three continents and three languages. As we grow, we also remain committed to being responsible stewards, creating economic opportunities in the communities where we operate."

Aydin Kilic, president and chief executive officer, added: "Our focus is now on accelerating deployment at Valenzuela. Led by our Paraguayan country president Gabriel Lamas, the team has exceeded expectations at every stage. We look forward to reaching our target of 25 EH/s by U.S. Thanksgiving, further strengthening Hive's position in the bitcoin network and delivering enduring value to shareholders."

Darcy Daubaras, chief financial officer, stated: "In the bitcoin mining sector, investors and analysts are focused on hash rate expansions, EH/s and daily bitcoin production as critical indicators of a company's growth and operational efficiency and potential. These metrics, particularly EH/s milestones, are the lifeblood of valuation in this industry as they directly drive revenue potential in a highly competitive and capital-intensive market. We understand this, which is why we promptly announce each EH/s increase, recognizing its materiality to investors. Timely disclosure of these milestones through press releases is essential as it signals growth but also strategic positioning in a volatile market. Investors expect these updates to be swift and transparent."

Operational outlook

Hive expects future growth to remain consistent with the economics of its Paraguayan operations. Each incremental exahash adds to daily bitcoin production and revenue potential while operating costs remain predictable due to fixed-rate hydroelectric power and minimal incremental labour. Power expenses scale proportionally with machine usage and are aligned with current cost structures. Actual results may vary depending on network difficulty and bitcoin prices.

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.

We seek Safe Harbor.