HIVE Digital Technologies Tops 15 EH/s and Provides July 2025 Production Report with 24% Monthly Increase in Production

Executive Summary

• HIVE Digital Technologies Ltd. reports surpassing 15 EH/s of Bitcoin mining capacity with Phase 2 of its Yguazú project nearing completion, targeting 18 EH/s by the end of Summer 2025.
• The company produced 203 Bitcoin in July 2025, a 24% month-over-month increase, with an average daily production of 6.6 BTC/day and a peak hashrate of 15.1 EH/s.
• HIVE projects annualized Bitcoin mining revenue (ARR) has tripled to $315 million since March 31, 2025, driven by current prices and hashrate, while targeting 25 EH/s by American Thanksgiving 2025.

Key Details

• Production Metrics (July 2025):
  • Total Bitcoin Produced: 203 BTC (compared to 164 BTC in June).
  • Average Daily Production: 6.6 BTC/day.
  • Average Hashrate: 12.8 EH/s.
  • Peak Hashrate: 15.1 EH/s.
  • Fleet Efficiency: ~19 J/TH.
  • BTC per EH/s: 16 BTC.
• Operational Progress:
  • Current Capacity: Surpassed 15 EH/s.
  • Phase 2 Status: On schedule for completion before the end of Summer 2025.
  • Phase 2 Target: 18 EH/s aggregate global hashpower.
  • Equipment: Over 4 EH/s of next-generation Bitmain S21+ Hydro ASIC miners energized at Phase 2; projected to reach 6.5 EH/s of hydro-cooled ASICs upon completion.
  • Future Target: 25 EH/s by American Thanksgiving 2025, expected to yield 12 BTC/day.
• Financial Performance & Estimates:
  • Annualized Bitcoin Revenue (ARR): Increased from $105 million (FY end March 31, 2025) to $315 million (unaudited, based on current prices/hashrate/rewards).
  • Revenue Per Share: Increased by 65% year-to-date, rising from $0.83 to $1.37.
  • Mining Margin: Estimated at 55% after electricity costs.
  • Funding Strategy: Expansion to 25 EH/s funded via a "Bitcoin pledge strategy" (pledged over $200 million worth of Bitcoin to equipment supplier), avoiding equity dilution or debt issuance.
• Strategic Updates:
  • Phase 3 Deployment: Planned to start in September at the 100 MW site in Valenzuela, Paraguay.
  • Community Impact: Creation of over 300 local jobs, infrastructure improvements including street lighting and school cooling in Paraguay.

Notable Quotes

• Frank Holmes, Co-Founder and Executive Chairman: "This marks a defining chapter in HIVE's evolution... Management believes we remain firmly on track to reach 25 EH/s by American Thanksgiving... Our 65% year-to-date increase in revenue per share is a testament to disciplined, accretive growth."
• Aydin Kilic, President & CEO: "With over 4 EH/s of next-generation Bitmain S21+ Hydro ASIC miners now energized at Phase 2 of the Yguazú project, we continue towards the finish line of Phase 2 being complete... bringing us to our near-term goal of aggregate global hashpower of 18 EH/s this summer."
• Frank Holmes: "We are currently using cash flow from operations to fund all operating expenses as well as G&A for the Company. Additionally, we are fully funded for our 25 EH/s target this year, using our Bitcoin pledge strategy, which to date has an accretive effect."