HIVE Achieves FY2026 Total Revenue of $297.8 Million (+158% YoY), HIVE's BUZZ HPC Positioned for Growth

About this update from Hive Digital Technologies Ltd

This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated November 25, 2025 to its short form base shelf prospectus dated October 31, 2025.San Antonio, Texas--(Newsfile Corp. - June 2, 2026) - HIVE Digital Technologies Ltd. (TSX: HIVE) (NASDAQ: HIVE) (FSE: YO0) (BVC: HIVECO) (referred to as the "Company" or "HIVE"), a global leader in sustainable data center infrastructure, announces its results for the full year ended March 31, 2026 (all amounts in US dollars, unless otherwise indicated).FY2026 Financial Highlights:Total Revenue: $297.8 million, from digital currency mining ($278.3 million) and high-performance computing (HPC) hosting services ($19.5 million).Digital Currency Revenue: $278.3 million, up 164% year-over-year driven by an approximately four-fold increase in installed operational hashrate and higher average Bitcoin prices (FY2026 average of $98,040 vs. $75,881 in FY2025).Bitcoin Production: 2,885 Bitcoin mined during the fiscal year, up 104% from 1,414 Bitcoin in FY2025, materially outpacing the approximately 42% increase in average network difficulty (from 95.7T in FY2025 to 135.8T in FY2026). As of March 31, 2026, HIVE's total installed hashrate was 25.1 EH/s, or approximately 24.5 EH/s after accounting for controlled downclocking for fleet optimization.HPC Revenue: HIVE's BUZZ HPC business generated a record $19.5 million, up 94% from $10.0 million in FY2025, driven by the deployment of the NVIDIA H200 GPU cluster and strong demand on GPU marketplace.Gross Operating Margins: $107.9 million (36% margin), versus $25.1 million (22% margin) in FY2025 - a 14 percentage-point expansion reflecting operating leverage on the 300 MW Paraguay expansion and HPC gross margin expansion to approximately 40%.G&A: $31.4 million, up from $16.6 million in FY2025 primarily as a result of increased staff to support HIVE's global expansion in digital currency mining, particularly in Paraguay, and the growth of its BUZZ HPC business.GAAP Net Loss: $148.4 million, of which approximately $221.3 million is non-cash, comprising $170.4 million of depreciation and $50.9 million of net non-cash adjustments (primarily share-based compensation, change in fair value of BTC equipment-deposit derivatives, and unrealized loss on investments, partially offset by net realized and unrealized gains on digital cur...

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