HIVE Digital Technologies Surpasses 14 EH/s Milestone as Global Expansion Accelerates Toward 25 EH/s

Executive Summary

• HIVE Digital Technologies Ltd. has surpassed 14 Exahash per second (EH/s) of Bitcoin mining hashrate globally across its operations in Canada, Sweden, and Paraguay.
• The company reports a current Bitcoin annual run rate (ARR) revenue of $315 million with mining margins of approximately 55% after electricity costs, a significant increase from the $105 million reported at the fiscal year-end of March 31, 2025.
• HIVE is on track to reach 18 EH/s by the end of summer and 25 EH/s by U.S. Thanksgiving, driven by the rapid deployment of next-generation miners in Paraguay.

Key Details

• Hashrate Milestones: Current global hashrate exceeds 14 EH/s; target is 18 EH/s by end of summer and 25 EH/s by U.S. Thanksgiving.
• Financial Performance:
  • Current Bitcoin Annual Run Rate (ARR) revenue: $315 million.
  • Mining margins: Approximately 55% after electricity costs (based on current hashprice).
  • Previous FYE March 31, 2025 revenue: $105 million.
• Paraguay Operations (Yguazú Site):
  • Phase 2 is over 60% complete.
  • 4 EH/s of next-generation Bitmain S21+ Hydro miners are already energized.
  • Daily Bitcoin production has increased to over 7 BTC (up from 4 BTC earlier in the year).
  • Full deployment of Phase 2 is expected to deliver 6.5 EH/s.
  • Ongoing development at Valenzuela site (Phase 3).
  • Forecast: Daily production to reach 12 Bitcoin per day by year-end (approx. 3% of global daily output).
  • Employment: Over 300 locally hired construction workers and engineers on-site.
• Operational Efficiency:
  • Upon completion of Phase 2, global fleet efficiency is expected to improve to approximately 18.5 joules per terahash (J/TH).
  • Strategy focuses on scaling via cash flow and holding Bitcoin ("HODL") without dilution.
• Strategic Context:
  • Company cites favorable macro trends including rising Bitcoin prices, institutional adoption, and regulatory clarity (referencing the "U.S. Genius Act").
  • Emphasis on sustainable, renewable hydroelectric energy sources.

Notable Quotes

• Frank Holmes, Co-Founder and Executive Chairman: "We have over 300 locally hired workers, all moving in lockstep to deliver world-class digital infrastructure at an extraordinary pace... This is a project built on speed, precision, and purpose - think Navy SEALs meets Stargate in West Texas."
• Gabriel Lamas, Country President of HIVE Paraguay: "The team is working 24/7 with enthusiasm and pride - not only to scale our electrical infrastructure, but to transform and uplift surrounding communities... This project is about national progress, innovation, and sustainable leadership in the digital economy."
• Aydin Kilic, President & CEO: "We're mining over 7 Bitcoin a day - clean, green, and fully funded by our operations... Our growth is powered by cash flow and HODL - no dilution, no shortcuts. We're focused on scaling with discipline."
• Luke Rossy, Chief Operating Officer: "We're racking miners and energizing containers in record time. HIVE continues to perform strongly in both ROIC and infrastructure cost-efficiency."