Mr. Aydin Kilic reports

HIVE DIGITAL TECHNOLOGIES SUBSIDIARY, BUZZ HIGH PERFORMANCE COMPUTING, ACCELERATES CANADA'S AI INDUSTRIAL REVOLUTION WITH DELL TECHNOLOGIES FOR ITS AI CLOUD EXPANSION

Hive Digital Technologies Ltd., through its wholly owned subsidiary Buzz High Performance Computing, has signed an agreement with Dell Technologies to deploy its next wave of artificial intelligence infrastructure (all amounts are in U.S. dollars, unless otherwise indicated). Additionally, Buzz and Hive are pleased to announce the operating agreements are executed for the commencement of the first phase of the Buzz and Bell AI fabric deployment.

Buzz will be deploying a 63-node cluster of liquid-cooled Dell PowerEdge XE9680L servers operating 504 of the latest-generation GPUs optimized for AI compute, delivered through Dell integrated rack scalable systems. Delivery and installation of the fully integrated Dell IR5000 racks will be in the Bell AI fabric data centre. This builds on Buzz's existing partnership with Bell, enabling the expansion of its sovereign AI cloud.

Scaling for the AI future

Buzz recently achieved bronze status in the semi-analysis ClusterMax rankings --surpassing numerous publicly traded peers in the AI cloud sector and validating its technical leadership.

In addition to the Bell AI fabric facility, Buzz has proprietary high-efficiency liquid-cooled data centre designs in Canada and Sweden, and Buzz is procuring long-lead components for go live in the second half of calendar 2026. Each Canadian and Swedish site, alongside the Bell AI fabric facility, will support 2,000 additional latest-generation GPUs to expand the Buzz AI cloud for 2026. In total, Buzz targets a fleet of over 6,000 latest-generation GPUs for AI cloud by the end of 2026. This is projected to generate an additional $120-million in annual run-rate revenue, with an operating margin of 80 per cent after electrical and data centre costs, for Buzz's AI cloud business once deployed. This estimated increase is in addition to the company's current $20-million ARR.

Combined with over 5,000 GPUs already in operation, this would bring the Buzz AI cloud to a total of over 11,000 GPUs by the end of 2026.

Furthermore, the Hive 70-megawatt operation Tier I data centre in Grand Falls, N.B., with 32.5 acres of land, enables Buzz to upgrade the facility for hyperscaler co-location in a Tier 3+ data centre, which can provide capacity for over 25,000 latest-generation GPUs, based on reference architecture. Buzz's HPC capacity footprint is positioned to make major contributions to advancing Canada's position in the global AI race.

About Hive Digital Technologies Ltd.

Founded in 2017, Hive is the first publicly listed company to mine digital assets powered exclusively by green energy. Today, Hive builds and operates next-generation blockchain and AI data centres across Canada, Sweden and Paraguay, serving both blockchain and high performance computing clients. Hive's twin-turbo engine infrastructure -- driven by blockchain and accelerated AI computing -- delivers scalable, environmentally responsible solutions for the digital economy.

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