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.
Hive Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the “Company” or “HIVE”), a diversified leader in sustainable blockchain and artificial intelligence (“AI”) infrastructure, today announced it has signed a definitive agreement to develop an additional 100 megawatt (“MW”) hydroelectric-powered data-center campus at its Yguazú site in Paraguay.
This Phase 3 expansion will increase HIVE’s total renewable capacity in Paraguay to 400 MW. Management expects this addition, also powered by renewable hydroelectric energy from the Itaipú Dam, to be the largest facility of its kind in Paraguay, and to increase HIVE’s global Bitcoin target to 35 Exahash per second (“EH/s”) for 2026.
With civil and electrical infrastructure already engineered for 300 MW, construction of Phase 3 will begin in early 2026, with full commissioning targeted for Q3 2026. Once complete, HIVE’s total renewable infrastructure footprint will reach 540 MW across three countries-400 MW in Paraguay and 140 MW across Canada and Sweden.
Frank Holmes, HIVE’s Executive Chairman, commented: “Our expansion in Paraguay reinforces HIVE’s long-term vision: scaling sustainable, low-cost digital infrastructure powered entirely by renewable energy. Operating across nine time zones, five languages, and three nations, HIVE continues to execute with efficiency, innovation, and first-mover advantage. We’ve scaled Bitcoin mining from 6 EH/s at the start of the year to nearly 22 EH/s today, on track to reach 25 EH/s by year-end. With the advent of next generation ASIC miners, this additional 100 MW provides a path to a potential 35 EH/s in 2026-a milestone that reflects both our operational excellence and our global growth ambition.”
Aydin Kilic, President & CEO, added: “This expansion strengthens both engines of our business model. Tier 1 Bitcoin mining drives robust cash flow and network share, while Tier 3 high-performance computing (“HPC”) and AI-our BUZZ HPC division-builds diversified growth in next-generation computing. Led by Craig Tavares, BUZZ HPC is our center of excellence for sovereign AI cloud and GPU-accelerated workloads, developing Tier 3+ liquid-cooled data centers purpose-built for AI model training, inference, and scientific computing. Our strategic partnership with Bell Canada, through the Bell AI Fabric initiative, integrates BUZZ’s AI infrastructure with Bell’s national fiber network and data-centers to deliver one of Canada’s most advanced sovereign AI ecosystems. This collaboration enables government, enterprise, and research clients to securely access BUZZ’s GPU compute clusters all powered by clean energy. Through this partnership and our Toronto buildout, we expect to 5x our HPC capacity in 2026. HIVE’s turbo-charged twin-engine model-Tier 1 for Bitcoin, Tier 3 for AI-positions us as a global digital-infrastructure leader at the intersection of blockchain and artificial intelligence.”
Gabriel Lamas, Country President of HIVE Paraguay, stated: “This additional 100 MW expansion brings Yguazú to full design capacity. Our engineering teams are ready-civil works and substation pads are complete. This milestone strengthens Paraguay’s position as a regional hub for clean energy innovation and underscores HIVE’s role as a trusted infrastructure partner in Latin America.”
2026 Strategic Outlook
In 2026, HIVE expects to continue scaling both its Tier 1 Bitcoin and Tier 3 HPC divisions.
Backed by strategic partnerships, renewable energy assets, and a proven record of operational excellence, Hive Digital Technologies is uniquely positioned to lead the next era of sustainable digital infrastructure.
About Hive Digital Technologies Ltd.
Founded in 2017, Hive Digital Technologies Ltd. is the first publicly listed company to mine digital assets powered exclusively by green energy. Today, HIVE builds and operates next-generation blockchain and AI data centers across Canada, Sweden, and Paraguay, serving both Bitcoin and high-performance computing (HPC) clients. HIVE’s twin-turbo engine infrastructure-driven by Bitcoin mining and NVIDIA GPU-accelerated AI computing-delivers scalable, environmentally responsible solutions for the digital economy.
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