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. - June 6, 2025) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the "Company" or "HIVE) a global leader in sustainable digital infrastructure, is pleased to announce a major operational milestone-surpassing 10 Exahash per second (EH/s) in global Bitcoin mining capacity, up from 6 EH/s at March quarter-end. Additionally, HIVE's peak hashrate increased 58% month-over-month from 6.6 EH/s in April to 10.4 EH/s in May (all amounts in US dollars, unless otherwise indicated).
This rapid scaling was driven by the successful energization of HIVE's 100 MW hydro-powered facility in Paraguay, reinforcing its global position as a Bitcoin miner focused on fast growth and energy efficiency.
HIVE operates globally across 9 time zones and 5 languages, using 100% hydroelectric power to deliver sustainable computing at scale for both Bitcoin mining and AI data centers. The Company is on pace to reach 11.5 EH/s by the end of June and continues to accelerate toward its 25 EH/s target by Q4 2025.
May 2025 Highlights
- Bitcoin Production: 139 BTC mined in May, averaging 4.5 BTC per day.
- Mining Efficiency: Averaged 8.5 EH/s in May, reaching a peak of 10.4 EH/s.
- Production per EH/s: 16.4 BTC per EH/s.
- Fleet Efficiency: Maintained at ~20 J/TH.
- Network Share: Exceeded 1% of global Bitcoin network hashrate.
Executive Commentary
Frank Holmes, Co-Founder and Executive Chairman of HIVE, commented: "In May, we scaled at an exceptional pace-adding nearly 1 Exahash per week. This rapid growth demonstrates our operational strength and the effectiveness of our dual-engine model, which integrates rapid scaling high-efficiency Bitcoin mining with our Buzz HPC cloud division which is generating record cash flow. HIVE is at the forefront of building sustainable, high-performance digital infrastructure data centers. As fast as new ASIC miners arrive, we deploy them-often within six hours-turning hardware into cash flow with lightning speed and precision."
Aydin Kilic, President & CEO of HIVE, added: "Crossing 10 EH/s has already lifted our daily production to over 5 BTC. With our fleet targeting 18 EH/s this summer, we're on track to exceed 8 BTC per day. With 25 EH/s by Q4, we expect to produce over 12 BTC per day and lower our production cost to under $50,000 per Bitcoin, with Bitcoin difficulty at 127T and a target fleet efficiency of 17.5 J/TH. Our team's execution puts us well ahead of schedule for our mid-year goals."
About HIVE Digital Technologies Ltd.
Founded in 2017 as the first publicly traded crypto miner on the TSX Venture Exchange, 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
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Information
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian and United States securities legislation and regulations that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes but is not limited to: the acquisition of the new site in Paraguay and its potential, the timing of it becoming operational; business goals and objectives of the Company; the results of operations for May 2025; the acquisition, deployment and optimization of the mining fleet and equipment; the continued viability of its existing Bitcoin mining operations; the receipt of government consents; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
Factors that could cause actual results to differ materially from those described in such forward looking information include, but are not limited to: the inability to enter into a binding agreement and complete the acquisition of the Paraguay site on the terms as announced or at all; the inability to complete the construction of the Paraguay acquisition on an economic and timely basis and achieve the desired operational performance; the ongoing support and cooperation of local authorities and the Government of Paraguay; the volatility of the digital currency market; the Company's ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company's operations; the regulatory environment for cryptocurrency in Canada, the United States and the countries where our mining facilities are located; economic dependence on regulated terms of service and electricity rates; the speculative and competitive nature of the technology sector; dependency on continued growth in blockchain and cryptocurrency usage; lawsuits and other legal proceedings and challenges; government regulations; the global economic climate; dilution; future capital needs and uncertainty of additional financing, including the Company's ability to utilize the Company's ATM Program and the prices at which the Company may sell Common Shares in the ATM Program, as well as capital market conditions in general; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the need for continued technology change; the ability to maintain reliable and economical sources of power to run its cryptocurrency mining assets; the impact of energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; share dilution resulting from the ATM Program and from other equity issuances; the construction and operation of facilities may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of electricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power for the Company to operate cryptocurrency mining assets; the risks of an increase in the Company's electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and the adverse impact on the Company's profitability; the ability to complete current and future financings, any regulations or laws that will prevent the Company from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; an inability to predict and counteract the effects of pandemics on the business of the Company, including but not limited to the effects of pandemics on the price of digital currencies, capital market conditions, restriction on labour and international travel and supply chains; and, the adoption or expansion of any regulation or law that will prevent the Company from operating its business, or make it more costly to do so; and other related risks as more fully set out in the Company's disclosure documents under the Company's filings at www.sec.gov/EDGAR and www.sedarplus.ca.
The forward-looking information in this news release reflects the Company's current expectations, assumptions, and/or beliefs based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's objectives, goals or future plans, the timing thereof and related matters. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance, and accordingly, undue reliance should not be put on such information due to its inherent uncertainty. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, other than as required by law.
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SOURCE: HIVE Digital Technologies Ltd.
