Mr. Aydin Kilic reports

HIVE DIGITAL TECHNOLOGIES DELIVERS STRONG YEAR-OVER-YEAR, QUARTER-OVER-QUARTER AND MONTH-OVER-MONTH GROWTH, MAINTAINING OVER 2% OF THE GLOBAL BITCOIN NETWORK

HIVE Digital Technologies Ltd. has released strong December, 2025, bitcoin production results, highlighting exceptional year-over-year growth, continued quarter-over-quarter momentum and sustained month-over-month operational strength, despite seasonal weather volatility impacting parts of the northern hemisphere.

Hive continues to operate at more than 2 per cent of the global bitcoin network, underscoring the company's scale, reliability and disciplined execution across its globally diversified fleet.

December, 2025, production highlights:

• Bitcoin produced: 306 BTC:
  • 197-per-cent increase year over year (103 BTC in December, 2024), while bitcoin mining difficulty increased 40 per cent year over year for the month of December;
  • Strong month-over-month (6 per cent) and quarter-over-quarter (23 per cent) growth, reflecting rising hash rate and improved fleet efficiency;
• Average daily production: 9.9 BTC per day;
• Hash rate: averaged 23.3 exahashes per second, peaking at 24 EH/s;
• Fleet efficiency: 17.5 joules per terahash;
• BTC per EH/s: 13.2 BTC.

While extreme cold weather across parts of the northern hemisphere temporarily impacted peak hash rate availability, Hive's geographically decentralized operating model -- spanning three continents, nine time zones and five languages -- enabled the company to maintain high uptime, operational resilience and production consistency.

Full-year 2025 performance

For the full calendar year 2025, Hive produced 2,311 bitcoin, representing a 31-per-cent increase year over year from 1,770 bitcoin in 2024. This growth was achieved despite the bitcoin halving and sustained all-time highs in global network difficulty (notably the bitcoin mining annual average difficulty was 46 per cent higher in 2025 compared with 2024), highlighting Hive's operational leverage and technology leadership.

Expansion and growth outlook

Hive intends to develop an additional 100 megawatts of hydroelectric-powered data centre capacity at its Yguazu campus in Paraguay, with full commissioning targeted for calendar third quarter 2026. Long-lead-time substation components have been ordered. The company will deploy this capacity using a disciplined return-on-invested-capital framework, optimizing free cash flow from green-energy-powered data centre infrastructure.

Upon completion, Hive's renewable energy footprint is expected to reach approximately 540 megawatts, including:

• 400 megawatts in Paraguay;
• 140 megawatts across Canada and Sweden.

Management commentary

Frank Holmes, executive chairman, stated: "At Hive, we view bitcoin as bundled, portable energy. Our green data centres convert surplus hydroelectric power into a globally liquid digital asset that can move instantly, without transmission constraints. Maintaining over 2 per cent of the global bitcoin network reflects years of disciplined execution. As bitcoin enters its next cycle and AI compute demand accelerates, our dual-engine model allows us to fund growth organically while maximizing the value of renewable energy."

Aydin Kilic, president and chief executive officer, added: "December's results demonstrate the strength of Hive's global operating platform. Seasonal weather events reinforce why we believe in decentralization across multiple geographies. Operating daily across nine time zones allows us to optimize uptime, protect margins and scale efficiently. We are very pleased with the consistent performance and uptime in our Paraguay operations. Our assets generate cash flow today while remaining flexible for tomorrow, positioning Hive to compound value through 2026 and beyond."

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 artificial intelligence data centres across Canada, Sweden and Paraguay, serving both bitcoin and high performance computing clients. Hive's twin-turbo engine infrastructure -- driven by bitcoin mining and GPU-accelerated AI computing -- delivers scalable, environmentally responsible solutions for the digital economy.

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