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.San Antonio, Texas--(Newsfile Corp. - March 10, 2025) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (referred to as the "Company" or "HIVE"), a global leader in sustainable data center infrastructure, has released its unaudited production results for February 2025 (all amounts in US ...

Core Viewpoint - HIVE Digital Technologies Ltd. is focusing on expanding its operations in Bitcoin mining and high-performance computing, aiming to become one of the largest and most efficient Bitcoin miners globally while leveraging AI technologies [3][4]. Group 1: Company Developments - HIVE appointed Craig Tavares as President and COO of Buzz HPC to enhance its leadership in high-performance computing and GPU cloud services, targeting $100 million in revenue [3]. - The company is on track to expand its mining capacity in Paraguay from 6 EH/s to 25 EH/s by September 2025, with an interim target of 18 EH/s by June 30, 2025 [3][4]. - HIVE's high-performance GPU business unit achieved an annualized run-rate revenue of $13 million in February 2025, with a target of $20 million by Q2 2025 [3]. Group 2: Production and Financial Performance - In February 2025, HIVE mined 89 BTC, increasing its total holdings to 2,620 BTC, valued at approximately $220 million based on a BTC price of $84,000 [4]. - The company's Bitcoin holdings increased by 23% year-over-year, although there was a month-over-month decline due to strategic sales for capital investments [4]. - HIVE maintained an average mining capacity of 5.6 EH/s, achieving a peak BTC-only hashrate of 6.2 EH/s and a peak BTC-equivalent hashrate of 6.4 EH/s [4]. Group 3: Operational Progress - HIVE's executive team conducted a site visit to Bitfarms' Yguazú facility, expressing satisfaction with the construction progress and anticipating the strategic acquisition of the 200 MW site in Q1 2025 [4]. - The 100 MW Valenzuela facility is nearing completion of civil and foundation works, with energization expected by June 2025 [5]. Group 4: Company Overview - HIVE Digital Technologies Ltd. is a leader in sustainable blockchain and AI infrastructure, operating in Canada, Sweden, and Paraguay, and aims to reduce its environmental footprint while innovating in digital asset mining [5].

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Core Viewpoint - HIVE Digital Technologies has appointed Craig Tavares as President and Chief Operating Officer of Buzz HPC to drive growth in GPU Cloud and High-Performance Computing (HPC) services [1][6]. Group 1: Appointment and Leadership - Craig Tavares brings over 20 years of experience in digital infrastructure, with a strong background in data centers, cloud, telecom, and energy industries [2]. - Tavares has held leadership roles at various companies, including Cogeco, where he managed a portfolio of 20 global data centers and launched a global cloud business at Aptum [3][4]. - His appointment is expected to help scale Buzz HPC's business to $100 million in revenue, leveraging his expertise in digital infrastructure and HPC [5]. Group 2: Strategic Vision - Tavares expressed enthusiasm about joining Buzz HPC, aiming to enhance the HPC cloud and data center business by utilizing high-quality assets for demanding workloads [6]. - The company already offers a high-performance Sovereign AI GPU platform powered by renewable energy, with plans to expand its service offerings [6]. Group 3: Incentives and Employee Engagement - HIVE is granting 1,090,000 Restricted Share Units (RSUs) to select employees, including Tavares, to align interests with the company's long-term success [9]. - The RSUs will remain non-tradable for one year, promoting sustainable and responsible growth within the organization [8][9]. Group 4: Company Overview - HIVE Digital Technologies is a leader in sustainable blockchain and AI infrastructure, known for its commitment to reducing environmental impact while advancing digital asset mining and AI computing [10].

Core Viewpoint - HIVE Digital Technologies has appointed Craig Tavares as President and Chief Operating Officer of Buzz HPC to drive growth in High-Performance Computing (HPC) and GPU Cloud services [1][6]. Group 1: Appointment and Leadership - Craig Tavares brings over 20 years of experience in digital infrastructure, with a strong background in data centers, cloud, telecom, and energy industries [2]. - Tavares has held leadership roles at various companies, including Cogeco and Aptum, where he managed global data centers and launched cloud businesses [3][4]. - His appointment is expected to help scale Buzz HPC's business to $100 million in revenue, leveraging his expertise in digital infrastructure and HPC [5]. Group 2: Strategic Vision - Tavares aims to enhance Buzz HPC's offerings by utilizing high-quality assets to meet demanding workloads, focusing on renewable energy-powered AI GPU platforms [6]. - HIVE Digital Technologies is confident that Tavares' leadership will accelerate growth in the cloud and HPC data center markets [6]. Group 3: Employee Incentives - HIVE is granting 1,090,000 Restricted Share Units (RSUs) to select employees, including Tavares, to align interests with the company's long-term success [9]. - The RSUs will remain non-tradable for one year, promoting sustainable and responsible growth within the organization [8][9]. Group 4: Company Overview - HIVE Digital Technologies is a leader in sustainable blockchain and AI infrastructure, known for its environmentally friendly operations in cryptocurrency mining and AI computing [10].

Financial Data and Key Metrics Changes - HIVE Digital Technologies reported $29 million in revenue for the quarter, with a gross operating margin of $6.1 million, resulting in a 21% operating margin [58] - The company achieved an adjusted EBITDA of $17.3 million and mined 2,805 Bitcoin, all sourced from green energy, with no debt on these assets [59] - The annualized Return on Invested Capital (ROIC) reached 37%, leading the industry [59] Business Line Data and Key Metrics Changes - HIVE's strategy focuses on capital deployment prioritizing ROIC, with a target to achieve 3% of the global hashrate, aiming for 25 exahash by September 2025 [64] - The company is expanding its AI and HPC business, achieving $10 million in annualized revenue this quarter, with a target of $20 million [65][112] Market Data and Key Metrics Changes - HIVE's market cap is currently under $400 million, with projections indicating potential cash flows of over $500 million if Bitcoin reaches $150,000 [78][80] - The company is positioned to benefit from the growing adoption of Bitcoin ETFs, with significant assets flowing into this market [40][41] Company Strategy and Development Direction - HIVE is relocating its head office from Vancouver to San Antonio to align with a pro-crypto regulatory environment and enhance operational efficiencies [54][30] - The acquisition of Bitfarms facilities will enhance HIVE's operating capacity in Paraguay to 300 megawatts, significantly increasing its mining hashrate [48] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the future of Bitcoin, citing historical trends of price increases following halving events, with expectations for Bitcoin to reach between $120,000 and $180,000 in 2025 [81] - The company is optimistic about the supportive regulatory environment under the new U.S. administration, which is expected to bolster the crypto industry [29][30] Other Important Information - HIVE's HODL (Hold On for Dear Life) Bitcoin balance has increased to 2,805 Bitcoin, reflecting a 4x growth year-over-year [99] - The company has maintained the lowest dilution across its peer set while achieving the highest growth prospects in the industry [102] Q&A Session Summary Question: What is HIVE's strategy for growth in the current market? - HIVE is focusing on expanding its hashrate to 25 exahash by September 2025 and is strategically acquiring facilities to enhance its operational capacity [64][48] Question: How does HIVE plan to manage costs and maintain profitability? - The company emphasizes disciplined capital deployment and maintaining low G&A costs per Bitcoin mined, which has been effective even during bear markets [96][97] Question: What are the expectations for Bitcoin prices in the near future? - Management anticipates Bitcoin could reach between $120,000 and $180,000, driven by historical trends and current market dynamics [81]

Disclosures In this presentation, "HIVE" or the "Company" refers to HIVE Digital Technologies Ltd (TSX.V: HIVE | NASDAQ: HIVE). Currency: All amounts are in US dollars, unless otherwise indicated. Q3 F2025 Results Webcast Quarter Ended December 31, 2024 Forward Looking Information. Except for the statements of historical fact, this presentation contains "forward-looking information" within the meaning of applicable Canadian and U.S. securities regulations. These forward-looking statements are based on expec ...

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Core Insights - HIVE Digital Technologies Ltd. reported a strong financial performance for Q3 FY2025, with total revenue of $29.2 million, adjusted EBITDA of $17.3 million, and a net income of $1.3 million, marking a significant recovery from a net loss of $7.0 million in the same period last year [5][10]. Financial Performance - Total revenue of $29.2 million was generated from digital currency mining and high-performance computing (HPC) hosting services, with $26.7 million from mining and $2.5 million from HPC [6][8]. - Adjusted EBITDA for the quarter was $17.3 million, reflecting effective financial and operational management [10]. - The company reported a net income of $1.3 million after tax, driven by foreign exchange gains and unrealized gains on investments [6][10]. Bitcoin Holdings - HIVE ended the quarter with 2,805 Bitcoin, valued at over $260 million, representing a 263% year-over-year increase from $72 million at the end of December 2023 [5][11]. - The company mined 322 Bitcoin during the quarter, contributing to its HODL position [6][11]. Operational Efficiency - HIVE maintained a low G&A cost structure, reporting $4.6 million in G&A for Q3, up from $3.7 million in the same period last year, which allowed for maximized cash returns on invested capital [9]. - The company's operating margins were $6.1 million, indicating profitable operations from both Bitcoin mining and HPC business units [6][8]. Future Growth Plans - HIVE plans to expand its hashrate from 6 EH/s to 25 EH/s by September 2025 through a 300 MW expansion in Paraguay [7][14]. - The company aims to achieve $20 million in high-margin run-rate revenue from new NVIDIA H100 and H200 clusters for cloud computing and AI model training services by Q2 2025 [7]. Equity Distribution - HIVE entered into an equity distribution agreement allowing the sale of up to $200 million in common shares, with proceeds intended for data center equipment purchases, strategic investments, and general working capital [15][18]. - The company raised C$122.6 million ($87.5 million) through the issuance of 21,367,527 common shares under the October 2024 ATM Equity Program [17].

Core Insights - HIVE Digital Technologies Ltd. reported a strong financial performance for Q3 FY2025, with total revenue of $29.2 million, adjusted EBITDA of $17.3 million, and a net income of $1.3 million, marking a significant improvement from the previous year [5][10] - The company increased its Bitcoin holdings to 2,805, valued at over $260 million, representing a 263% year-over-year increase [5][6] Financial Performance - Total revenue of $29.2 million comprised $26.7 million from digital currency mining and $2.5 million from high-performance computing (HPC) services [6][8] - Adjusted EBITDA for the quarter was $17.3 million, reflecting effective financial management [10] - Net income after tax was $1.3 million, a notable recovery from a loss of $7.0 million in the same period last year [10] Operational Highlights - HIVE mined 322 Bitcoin during the quarter, contributing to its HODL position [6] - The HPC business achieved a $10 million annualized run rate based on quarterly revenues of $2.5 million, indicating growth in this segment [6] - The company's Bitcoin mining hashrate increased by 7.1% from 5.6 EH/s to 6.0 EH/s due to fleet upgrades [12] Strategic Initiatives - HIVE is expanding its operations in Paraguay with a 300 MW project aimed at increasing its hashrate from 6 EH/s to 25 EH/s by September 2025 [7][13] - The company plans to enhance its HPC revenue with new NVIDIA H100 and H200 clusters, targeting $20 million in high-margin run-rate revenue by Q2 2025 [7] Cash and Digital Assets - HIVE ended the quarter with $270.7 million in cash and digital currencies, positioning itself strongly for future growth [5] - Total digital currency assets were valued at $260.8 million, including the 2,805 Bitcoin held [6][11] Cost Management - The company maintained low general and administrative costs of $4.6 million, allowing for maximized cash returns on invested capital [9]