HIVE Digital Technologies Reaches 2% Of Global Bitcoin Network, Mining 9 BTC Daily And Surpassing 20 EH/S

(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 24, 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 exceeded 20 Exahash per second ("EH/s") of global Bitcoin mining capacity following the continued successful deployment of ASICs at its Phase 3 Valenzuela facility in Paraguay.

Phase 3 represents HIVE's third 100 megawatt ("MW") development of green energy infrastructure in Paraguay, powered by hydroelectric energy from the Itaipu Dam, reinforcing the Company's commitment to sustainable Bitcoin mining. With a year-to-date hashrate increase of approximately 233%, HIVE is now mining 9 Bitcoin per day at a global fleet efficiency of 18 Joules per Terahash ("J/TH"), achieving a mining margin* of 55% after electricity costs. This represents approximately 2% of the Bitcoin network, based on the current difficulty of 142 trillion, with all figures publicly verifiable through Bitcoin block explorers .

With Phase 3 construction now substantially complete, and installations progressing ahead of schedule, HIVE achieved the 19 EH/s target, with the latest additions bringing HIVE's global fleet to 20 EH/s, marking a key milestone in the Company's roadmap toward its target of 25 EH/s by U.S. Thanksgiving.

Upon completion of Phase 3, HIVE anticipates reaching daily Bitcoin production of approximately 12 BTC, based on current network difficulty. At that scale, HIVE expects to be operating at an efficiency of approximately 17.5 J/TH.

Figure 1: Interior of a newly energized Bitmain S21+ Hydro container, adding high-efficiency hashrate to HIVE's Phase 3 expansion.

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Management Commentary

Frank Holmes, Co-Founder and Executive Chairman, commented: "I am deeply proud of the drive and resilience our team has shown as we scale HIVE's global green energy operations ahead of schedule. We are gaining strong momentum across our dual engines of Bitcoin mining and AI cloud computing, two transformative forces that complement and strengthen each other. With a Navy SEAL mindset, our teams are moving forward with focus and determination across nine time zones and three continents. Also, we have hired 40 young engineers to help manage our facilities."

Commitment to Impact Investing in Community Education

HIVE is dedicated to making a positive impact in the communities where it operates, with a particular focus on supporting educational initiatives. As part of its mission to combine technological innovation with social responsibility, HIVE has prioritized impact investing in children's education, in Paraguay, where its Phase 3 Valenzuela facility is located.

Frank Holmes continued: "Earlier this month, we were honored to celebrate the ribbon cutting of our completed Yguazú facility, the culmination of a year of vision, strategy, and relentless execution. Just as meaningful, members of our team visited a grade school in the city of Valenzuela where we were honored by seeing the joy on students who are now learning in classrooms with air conditioning, and improvements like new chalkboards made possible through our local goal to upgrade grade school facilities and provide another level of faith and hope in young minds who are the future of Paraguay. These moments remind us that our mission goes beyond technology: it's also about creating a positive impact in the communities where we work. We are dedicated to making a difference by investing in kids' education as a key part of HIVE's mission, ensuring that our growth benefits future generations in a lasting way."

Figure 2: Grade school students in Paraguay learning in greater comfort with new air conditioning made possible through HIVE's support.

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Aydin Kilic, President and CEO, stated: "We are currently 2% of the global Bitcoin mining infrastructure, which is a significant milestone considering Bitcoin's market exceeds $2 trillion capitalization. With ongoing policy discussions around digital asset adoption in the United States, HIVE is positioned as a globally distributed data center company with a focus on green energy. Reaching 20 EH/s is a major validation of our disciplined growth strategy and the hard work of our global team. We are delivering on our commitments: funding is secured, infrastructure is online, and every additional exahash is compounding value for our shareholders. We strive to lead the industry in Return on Invested Capital, thereby maximizing value for our shareholders. Additionally, we believe it is essential to maintain low-cost operations at the corporate level, as reflected in the % of general and administrative costs relative to revenue."

Kilic added: "During my recent visit to Paraguay, I was deeply impressed by the incredible execution of our teams on the ground. Their technical skill and organization have delivered 99% uptime and strong performance. This milestone solidifies our position in the Bitcoin network and reinforces our commitment to geographic diversification, operational excellence, and long-term shareholder value. As we push toward 25 EH/s by U.S. Thanksgiving, our momentum has never been stronger."

Figure 3: Paraguay Country President Gabriel Lamas, President & CEO Aydin Kilic, Operations Manager Carlos Torres, and Executive Chairman Frank Holmes in Valenzuela, Paraguay, home to the Company's Phase 3 expansion powered by 100 MW of green energy infrastructure.

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Operational Outlook

All ASIC purchases for Phase 3 are funded, and all ASICs have been shipped. Over 40% of the Phase 3 ASICs are on-site and being installed, with the rest scheduled for delivery this month. HIVE expects growth to remain aligned with the economics of its Paraguay operations. Each additional exahash contributes directly to daily Bitcoin production and revenue potential, while operating costs remain stable under fixed-rate hydroelectric power and minimal incremental labor. Power expenses scale proportionally with machine usage and remain consistent with current cost structures. Actual results may vary depending on network difficulty and prevailing Bitcoin prices.

*As used herein, "Mining Margin" is calculated by dividing the mining profit (revenue generated from mining activities minus power costs related to those activities) by the total revenue generated from mining activities and expressed as a percentage. In mining, the most significant expense is power cost; in this estimate we are assuming an average of USD 5 cents per kilowatt hour for indicative purposes. "ARR", as a metric, represents revenue only, and does not represent profitability. ARR is presented here as a measure of growth. These non-GAAP measures should be read in conjunction with and should not be viewed as alternatives to or replacements for measures of operating results and liquidity presented in accordance with GAAP in HIVE's quarterly and annual financial statements. All financial projections reflect current market sentiment and public disclosures as of September 2025; actual outcomes may vary. Investors should conduct their own due diligence.

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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