RETRANSMISSION: HIVE Digital Technologies Ltd. Announces October 2024 Production Results And Strategic Milestones

(MENAFN- Newsfile Corp) This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated October 3, 2024 to its short form base shelf prospectus dated September 11, 2024.

Vancouver, British Columbia--(Newsfile Corp. - November 8, 2024) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the "Company" or "HIVE"), a leader in sustainable data center infrastructure for the bitcoin ecosystem, has released its unaudited production results for October 2024, demonstrating continued growth and operational strength ( all amounts in US dollars, unless otherwise indicated ).

Key Highlights for October 2024 :

• Bitcoin Production: HIVE mined 117 BTC, marking a 1% increase month-over-month and bringing its HODL portfolio to 2,624 BTC, a 51% increase year-over-year.
• Mining Capacity: Maintained an average mining capacity of 5.3 EH/s with fleet efficiency at 22.3 Joules per Terahash (J/TH), reaching a peak hashrate of 5.6 EH/s.
• Operational Efficiency: Achieved an average daily production rate of 3.77 BTC, equivalent to 22.1 Bitcoin per Exahash.
• Bitcoin Valuation: HIVE's Bitcoin holdings are valued at over $184 million as of October 31, 2024, based on a BTC closing price of approximately $70,215.

Strategic Developments:

HIVE recently began construction of our new 100 MW facility in Paraguay, an hour from the capital city of Asunción. This expansion aligns with HIVE's strategic goal to capture 2% of global Bitcoin mining capacity while upholding its commitment to sustainable, green energy.

The Company sees recent U.S. election outcomes as a positive shift for the digital asset sector. With President Trump's administration and a Republican Congress, the Company anticipates policies that will benefit both the Bitcoin ecosystem and capital markets. Additionally, the support of visionary leaders like Elon Musk-whom HIVE regards as one of the century's greatest innovators for his work with Tesla, SpaceX, and as a Bitcoin holder-signals a promising future for the ongoing global digital transformation.

Executive Commentary:

Frank Holmes, Executive Chairman, commented, "Our team's prudent capital management, coupled with monthly ASIC upgrades to more energy efficient chips, has allowed us to grow our Bitcoin portfolio, minimize dilution, and cover operational expenses. The Paraguay facility is a critical component of our Bitcoin growth strategy, and it positions HIVE to deliver long-term value to shareholders through sustainable and profitable growth."

Incentive Grants

HIVE has issued 2,442,000 restricted share units (RSUs) to employees, officers, directors, and qualified consultants. These RSUs are designed to align long-term incentives with shareholder interests. They will vest over two years in compliance with TSX Venture Exchange guidelines and are locked for a minimum of one year.

This release supports HIVE's dedication to thoughtful growth, operational efficiency, and sustainability, solidifying its position as an attractive investment in the data center business, which supports both HPC AI and the global Bitcoin infrastructure sector.

About HIVE Digital Technologies Ltd.

HIVE Digital Technologies Ltd. made history in 2017 as the first cryptocurrency mining company to go public in Canada and is now traded on exchanges in Canada, Germany, and the U.S. (Nasdaq). As part of our growth strategy, we're expanding with an additional 100 MW facility in Paraguay, setting a target to capture 2% of global Bitcoin production. Currently, we hold over 2,600 Bitcoin on our balance sheet, adding significant HODL value for our investors.

HIVE operates green-energy-powered data centers in Canada, Sweden, and Iceland, integrating the digital currency sector with traditional capital markets. Additionally, we are advancing our High-Performance Computing (HPC) capabilities to capitalize on the AI super cycle, utilizing an advanced suite of Nvidia chips. HIVE shares offer investors exposure to both the cryptocurrency market and the rapidly expanding field of AI-driven computing solutions.

We encourage you to visit HIVE's YouTube channel here to learn more about HIVE.

For more information and to register for HIVE's mailing list, please visit . Follow @HIVEDigitalTech on Twitter and subscribe to HIVE's YouTube channel .

On Behalf of HIVE Digital Technologies Ltd.

"Frank Holmes"
Executive Chairman

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