HIVE Digital Technologies Completes Phase 2 Of Its Yguazú Project In Paraguay Reaching 18 EH/S, Producing 8 Bitcoin Per Day From Hydroelectric Power

(MENAFN- Newsfile Corp) This news release constitutes a "designated news release" for the purposes of the Company's amended and restated prospectus supplement dated May 14, 2025, to its short form base shelf prospectus dated September 11, 2024.

San Antonio, Texas--(Newsfile Corp. - September 3, 2025) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the "Company" or "HIVE"), a diversified multinational digital infrastructure company, today announced it has completed Phase 2 in Yguazú ahead of schedule, and last week exceeded 18 Exahash per second ("EH/s") of global Bitcoin mining capacity. The Company rapidly eclipsed the 17 EH/s target, followed by the 18 EH/s target, signifying completion of Phase 2 in Yguazú, as the final ASICs were installed. HIVE has been mining over 8 Bitcoin per day globally since eclipsing the 17 EH/s target and today is mining over 8.5 Bitcoin per day. HIVE's Paraguay operations are powered by renewable hydroelectric energy from the Itaipú Dam in Paraguay, the largest hydroelectric power facility in the Western Hemisphere.

With Phase 2 finished at Yguazú, HIVE has now successfully realized the goal of reaching a total global hashrate of 18 EH/s by Summer 2025, culminating in the completion of Yguazú, with 200 megawatts ("MW") using hydroelectric power now under operation in Paraguay, with a global fleet efficiency of approximately 18.5 J/TH.

"HIVE is one of the few companies in the world operating with a dual business model*, in Bitcoin mining and also AI Cloud computing powered by GPUs in our HPC data centers," said Aydin Kilic, President & CEO.

Mr. Kilic added, "At HIVE, we are focused on creating enduring value through disciplined growth, operational excellence, and a dual-engine model that puts us at the forefront of digital infrastructure and next-generation finance."

"While our 200 MW Yguazú site is the largest Bitcoin mining facility HIVE has constructed, it has done so in record time," said Luke Rossy, COO.

Mr. Rossy continued, "I am incredibly proud of our team, as we developed mastery of the hydro ASIC cooling infrastructure, to optimize operational efficiency in the local climate, using the dry-cooler technology."

Additionally, HIVE is pleased to note that the transformers in Phase 3 at the Valenzuela site have been energized, marking the third 100 MW of green energy infrastructure HIVE has built in Paraguay. We anticipate installing ASICs in the coming weeks, as site construction of Phase 3 is now substantially complete.

Figure 1: Valenzuela 100 MW site construction substantially completed with ASIC deployment scheduled to begin next week.

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Valenzuela is the final step in its expansion plan to 25 EH/s. Upon completion by U.S. Thanksgiving, the Company projects daily Bitcoin production of approximately 12 BTC, based on current network difficulty. At that scale, HIVE's global fleet is expected to comprise approximately 3% of the global Bitcoin mining network, operating at an energy efficiency of approximately 17.5 Joules per Terahash ("J/TH").

Achieving this production level will require additional ASIC deployments and higher power usage; however, these capital and operating expenditures have already been made and are within the Company's budget for this year.

The Company has previously disclosed these ASIC purchases , consisting of funded Bitmain S21+ Hydro units , and all Bitcoin mining hardware for Phase 2 in Yguazú has now been received and installed. Ongoing operating expenses, such as power, scale proportionally with machine usage and are consistent with HIVE's current cost structure.

All Phase 3 ASICs destined for Valenzuela have been paid for, and all of these ASICs have already shipped. The initial batches of Phase 3 ASICs have been received on site in Valenzuela, and will be installed in the next week and the remainder are expected to arrive on site this month.

This update informs the market that capital expenditures for expansion have been deployed, and the expansion is now underway as hardware is delivered and installed on-site.

Management expects additional growth to remain consistent with the established economics of its Paraguay operations. Each incremental exahash increases daily production and revenue potential, while HIVE's cost structure remains predictable due to fixed-rate hydroelectric power and the absence of material incremental labor costs. Actual results may vary depending on network difficulty and Bitcoin prices.

Darcy Daubaras, HIVE's CFO, commented, "Our focus remains unwavering: deliver strong and sustainable performance, drive sector-leading efficiency through superior capital returns and low G&A expenses and create lasting value for our shareholders as we continue building resilient, decentralized Bitcoin infrastructure."

* "Our dual business model - combining Bitcoin mining and high-performance computing - is designed to capture growth from two rapidly expanding digital industries," said Darcy Daubaras, CFO. "In practical terms, this means HIVE is scaling production of Bitcoin much like a growth business scales output of a core product. Each incremental exahash increases daily production and revenue potential, while our HPC division provides a complementary revenue stream that grows with demand for compute power. Together, these engines create accelerating top-line momentum under current market conditions."

About HIVE Digital Technologies Ltd.

Founded in 2017, HIVE Digital Technologies Ltd. builds and operates sustainable blockchain and AI infrastructure data centers, 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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On Behalf of HIVE Digital Technologies Ltd.

"Frank Holmes"
Executive Chairman

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