San Antonio, Texas, July 8, 2025 — HIVE Digital Technologies Ltd. (TSX.V: HIVE) (Nasdaq: HIVE) (FSE:YO0) (the “Company” or “HIVE), a global leader in sustainable digital infrastructure, is pleased to report a 18% increase in Bitcoin production in June compared to May 2025, as it continues its aggressive global scale-up strategy. The Company mined 164 Bitcoin in June, driven by early success at its newly energized100 megawatt (“MW”) Phase 1 in Paraguay, a key component in HIVE’s march toward a 12 Bitcoin per day production target by year-end scaling in revenue and cash flow margins.
With the launch of Phase 2 in Paraguay, Management of HIVE believes that it has a clear runway to hyper- scale up to 25 EH/s by American Thanksgiving. Already delivering 11.4 EH/s in June, the Company has nearly doubled its hashrate since the end of March and is executing the most ambitious growth plans in the Company’s history.
“This is a breakout moment for HIVE,” said Frank Holmes, Co-Founder and Executive Chairman. “With two 100 MW phases in Paraguay and our rapid expansion, we are more than halfway to our 2025 production goal of 12 BTC per day. Under the outstanding leadership of Paraguay Country President Gabriel Lamas, we’re scaling faster, greener, and more efficiently than ever before.”
Phase 2 Launch Accelerates Momentum
HIVE is excited to announce the official launch of Phase 2 (second 100 MW) at its hydro-powered Yguazú facility in Paraguay. As of today, 0.4 exahash per second (“EH/s”) of new machines are already hashing — more than 5% of the total potential Phase 2 capacity — with rapid deployments to continue throughout the summer. Once fully energized, Phase 2 will generate approximately 6.5 EH/s from next-generation Bitmain S21+ Hydro miners, pushing HIVE’s global fleet efficiency to an industry-leading ~18.5 J/TH.
Aydin Kilic, President & CEO, added: “Paraguay has become a centerpiece of our green Bitcoin mining strategy. With hydro infrastructure, fiber, and cooling systems now fully operational, we’re deploying new capacity at record speed. We expect a major lift in July as Phase 2 scales, propelling us toward our 25 EH/s goal.”
June 2025 Production Highlights
• Bitcoin Produced: 164 BTC (vs. 139 BTC in May)
• Average Daily Production: 5.5 BTC/day
• Hashrate: Average hashrate of 11.0 EH/s in June, reaching a peak of 11.4 EH/s.
• Fleet Efficiency: ~20 J/TH
• BTC per EH/s: 15 BTC
Empowering Teams Through Ownership
To align long-term incentives across all levels of the organization, HIVE has granted 2,809,000 Restricted Share Units (“RSUs”) to employees, officers, directors, and key consultants. These RSUs, which vest after one year, reflect the Company’s deep commitment to rewarding and retaining the team driving HIVE’s exceptional growth.
“This is about ownership at every level,” said Holmes. “We believe every contributor to our mission — from technical operators to executive leadership — should share in our long-term success.”This broad-based equity grant supports a culture of “all oars in the water pulling in the same direction,” innovation, accountability, recognition for hitting milestones and alignment with shareholders, reinforcing HIVE’s commitment to sustainable growth and world-class execution.
BUZZ HPC Expands Sovereign AI Footprint in Canada. In parallel with Bitcoin expansion, HIVE’s high-performance computing subsidiary BUZZ High Performance Computing Inc. (“BUZZ HPC”) continues to scale its AI infrastructure. In June, BUZZ HPC signed a purchase agreement for a 7.2 MW Tier 3 data center campus located in Toronto, Canada, which will support up to 5,000 next-gen GPUs for sovereign Canadian AI compute.
Craig Tavares, President & COO of BUZZ HPC, said: “We believe that Toronto is a global AI epicenter, and this acquisition positions BUZZ to become a cornerstone of Canada’s AI infrastructure — sovereign, secure, and scalable.”
Strengthened Capital Position
For the three-month period ended June 30, 2025, the Company issued 38,109,822 common shares (the “October 2024 ATM Shares”) pursuant to the at-the-market offering commenced in October 2024 and continued in May 2025 (the “October 2024 ATM Equity Program”) for gross proceeds of C$96.7 million ($70.0 million). The October 2024 ATM Shares were sold at prevailing market prices, for an average price per October 2024 ATM Share of C$2.54. Pursuant to the October 2024 ATM Equity program, a cash commission of $1.8 million on the aggregate gross proceeds raised was paid to the sales agents in connection with its services under the October 2024 ATM Equity Program. The Company is using the net proceeds from the October 2024 ATM Equity Program to fuel further growth in ASIC and GPU infrastructure, data center expansions, and working capital needs.
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.
For more information, visit hivedigitaltech.com, or connect with us on:
X: https://x.com/HIVEDigitalTech
YouTube: https://www.youtube.com/@HIVEDigitalTech
Instagram: https://www.instagram.com/hivedigitaltechnologies/
LinkedIn: https://linkedin.com/company/hiveblockchain
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
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