HIVE Digital Technologies Announces February 2025 Production Results and Strategic Milestones

Core Viewpoint - HIVE Digital Technologies Ltd. is focusing on expanding its operations in Bitcoin mining and high-performance computing, aiming to become one of the largest and most efficient Bitcoin miners globally while leveraging AI technologies [3][4]. Group 1: Company Developments - HIVE appointed Craig Tavares as President and COO of Buzz HPC to enhance its leadership in high-performance computing and GPU cloud services, targeting $100 million in revenue [3]. - The company is on track to expand its mining capacity in Paraguay from 6 EH/s to 25 EH/s by September 2025, with an interim target of 18 EH/s by June 30, 2025 [3][4]. - HIVE's high-performance GPU business unit achieved an annualized run-rate revenue of$13 million in February 2025, with a target of $20 million by Q2 2025 [3]. Group 2: Production and Financial Performance - In February 2025, HIVE mined 89 BTC, increasing its total holdings to 2,620 BTC, valued at approximately$220 million based on a BTC price of $84,000 [4]. - The company's Bitcoin holdings increased by 23% year-over-year, although there was a month-over-month decline due to strategic sales for capital investments [4]. - HIVE maintained an average mining capacity of 5.6 EH/s, achieving a peak BTC-only hashrate of 6.2 EH/s and a peak BTC-equivalent hashrate of 6.4 EH/s [4]. Group 3: Operational Progress - HIVE's executive team conducted a site visit to Bitfarms' Yguazú facility, expressing satisfaction with the construction progress and anticipating the strategic acquisition of the 200 MW site in Q1 2025 [4]. - The 100 MW Valenzuela facility is nearing completion of civil and foundation works, with energization expected by June 2025 [5]. Group 4: Company Overview - HIVE Digital Technologies Ltd. is a leader in sustainable blockchain and AI infrastructure, operating in Canada, Sweden, and Paraguay, and aims to reduce its environmental footprint while innovating in digital asset mining [5].