HIVE Digital Technologies Surpasses 13 EH/s as Scalable Growth and Revenue Expansion Accelerate i...

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, July 24, 2025 — HIVE Digital Technologies Ltd. (TSX.V: HIVE) (Nasdaq: HIVE) (FSE: YO0) (the “Company” or “HIVE”), a diversified multinational digital infrastructure company, proudly announces it has crossed the 13 Exahash per second (EH/s) threshold in global Bitcoin mining hashrate, mining over 6.5 Bitcoin daily since crossing this threshold. This scale-up has been driven by the deployment of the Company’s next-generation hydro-cooled Bitcoin mining facilities in Phase 2 at Yguazú, Paraguay.

Accelerating Progress

The buildout of Phase 2 at the Company’s Yguazú campus is progressing steadily, with over 2 EH/s of next-generation Bitmain S21+ Hydro ASIC miners now active at the site. Upon full deployment, the Company anticipates that Phase 2 will host approximately 6.5 EH/s of computation power, propelling the Company toward its near-term goal of aggregate global hashpower of 18 EH/s by the end of August 2025.

“Our climb to 13 EH/s is the result of researched planning and focused execution across the organization,” said Frank Holmes, Co-Founder and Executive Chairman. “Every Exahash of the latest high-efficiency Bitmain S21+ ASIC miners we add is expected to reduce unit costs, thereby expanding margins, and amplifying the value of every Bitcoin earned by the Company through its hashpower. Management believes that this milestone signifies not only growth, but the realization of its strategic hashpower acceleration. At HIVE, scaling means stronger economics, greater efficiency, and smarter capital deployment.”

“We believe that HIVE’s 13 EH/s is just the beginning. With infrastructure and power already secured, increased hashpower represents accretive growth and operational readiness,” continued Mr. Holmes.

A Fully-Funded Roadmap to 25 EH/s

HIVE’s Bitcoin mining capacity in Phase 2 and Phase 3 in Paraguay exclusively utilizes the Bitmain S21+ Hydro miner with an efficiency of 15 J/TH. Accordingly, as these hydro units come online, it will improve HIVE’s global average ASIC fleet efficiency. HIVE’s global ASIC fleet efficiency was approximately 20 J/TH at the completion of Phase 1 in Yguazú with global operations at 11.5 EH/s, and will be 18.5 J/TH upon the completion of Phase 2 in Yguazú with global operations at 18 EH/s.

Improved ASIC efficiency lowers the cost of Bitcoin production, as less energy is required to produce hashrate. ASIC efficiency is directly proportional to the cost of Bitcoin production. A 10% improvement in ASIC efficiency, all other things being equal, equates to a 10% lower cost of Bitcoin production.

HIVE is pleased to note this week that the Company realized $300 million of annualized run-rate revenue (ARR)* from Bitcoin Mining and HPC operations with profit margins of approximately 55%, based on current global average power costs for HIVE and current hash price of approximately $59 per PH per day.

“At HIVE, we endeavour to build high-quality data center infrastructure time-efficiently and cost-effectively,” said Luke Rossy, Chief Operating Officer. “Our cost advantage, supported by engineering expertise and a renewable energy strategy, positions us as a highly efficient Bitcoin miner and AI/HPC infrastructure provider. We are incredibly pleased with the uptime seen so far with our ASICs operating in both Phase 1 (air-cooled) and Phase 2 (hydro) in Paraguay. Also, our Paraguay operations team has embraced our high level of discipline in operations, yielding industry-leading performance in Bitcoin mining.”

As HIVE advances its fully-funded expansion strategy, the Company expects to achieve approximately $400 million in ARR* upon reaching its near-term target of 18 EH/s. At that scale, HIVE projects a global fleet efficiency of 18.5 J/TH and mining margins* approaching 60% after electrical costs, based on current hashprice of $59 per Hashrate Index ( index).

“HIVE is delivering growth at a remarkable rate,” commented Aydin Kilic, President & CEO, and we remain on track for 18 EH/s at an estimated efficiency of 18.5 J/TH by the end of August and 25 EH/s at an efficiency of roughly 17.5 J/TH by U.S. Thanksgiving this year – all of which is fully funded. At scale, and assuming current hashprice, we estimate roughly $400 million ARR* at 18 EH/s and $550 million ARR* at 25 EH/s, with mining margins near 60% after global average power costs. I am very pleased with the regional leadership of Paraguay Country President Gabriel Lamas, his resilience and engineering background, ensuring our two projects, both Yguazú and Valenzuela, advance at a rapid pace. Layered with our long-standing HPC/AI business, we believe HIVE is uniquely positioned to compound value for shareholders.”

* As used herein, “Operating Margin” is calculated by dividing the operating profit (revenue generated from mining and HPC activities minus power costs related to those activities) by the total revenue generated from mining activities and expressed as a percentage. “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 costs. “ARR”, as a metric, does not represent profitability and 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.

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.

For more information, visit hivedigitaltech.com, or connect with us on:

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On Behalf of HIVE Digital Technologies Ltd.

“Frank Holmes”

Executive Chairman

For further information, please contact:

Nathan Fast, Director of Marketing and Branding

Frank Holmes, Executive Chairman

Aydin Kilic, President & CEO

Tel: (604) 664-1078

This article was originally published as HIVE Digital Technologies Surpasses 13 EH/s as Scalable Growth and Revenue Expansion Accelerate in Paraguay and Reaches $300 Million ARR on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.