HIVE's Paraguay AI Infrastructure Performance Validated in Columbia University Study, Research Heads to NeurIPS

• Columbia University researchers validated that HIVE's A40 GPUs matched H100 performance after code optimization and performance normalization.
• The research focused on neural network pretraining, testing throughput, latency, and serving performance for LLMs up to 1.4B parameters.
• Findings have been submitted to NeurIPS, a top-tier global AI/ML conference.
• The validation supports HIVE's plan to develop an HPC/AI gigafactory in Yguazú, Paraguay, with a 100 MW substation expected to energize in September 2026 and a Tier 3 data center targeting service in H2 2027.
• Management framed the milestone as proof-of-concept validation for distributed AI infrastructure and Paraguay's strategic power/location advantages.

• The June 22 news is a technical validation of existing infrastructure, not a new commercial catalyst. It confirms the substation timeline and supports the Paraguay AI roadmap, but does not add new contracted revenue or upgrade guidance.
• The stock's +5.4% move into the print indicates modest optimism was already priced in. The market did not price in a major miss, nor did it price in a massive beat. The underlying facts (steady execution, lagging ARR) align with the muted price action.
• The news is Routine - Positive. It reduces technical risk on the Paraguay buildout but does not change the fundamental commercialization timeline or capital intensity profile.

HIVE Digital Technologies operates a dual-engine digital infrastructure model combining renewable-powered Bitcoin mining (cash flow generation) and AI/HPC data center services (growth). The company operates across Canada, Sweden, and Paraguay, leveraging hydroelectric power for low-cost compute. Management is transitioning from Tier-I mining facilities to Tier-III+ AI-ready data centers, targeting sovereign compute demand in North America and Europe.