This announcement serves as a “designated news release” in accordance with the Company’s prospectus supplement from October 3, 2024, tied to its short form base shelf prospectus dated September 11, 2024.
San Antonio, Texas–(Newsfile Corp. – April 21, 2025) – HIVE Digital Technologies Ltd.
HIVE
(FSE: YO0), referred to here as the “Company” or “HIVE,” a leader in sustainable data center infrastructure, is excited to announce the complete implementation of Phase 1 infrastructure at its Yguazù facility in Paraguay—a 100 MW air-cooled data center empowered by a fully operational 200 MW substation. Furthermore, HIVE is pleased to appoint Carlos Anibal Torres as its new Operations & Project Manager for Paraguay, a vital addition to its leadership team as the Company expands in the area.
Paraguay Phase 1: Energized and Ready for Growth
HIVE has finalized the construction and energization of the 100 MW Phase 1 infrastructure at the Yguazù site, which enables a capacity of 5 exahash per second (EH/s) for next-generation ASIC miners. Currently, the Company operates a hashrate of 200 petahashes at this site using its proprietary BUZZ Miners, with the total expected to reach 8,000 BUZZ Miners online by the end of April.
Deliveries of the new-generation ASICs, including Bitmain S21+ units, have commenced, with over 20,000 units anticipated by the end of May. HIVE aims to escalate to 5 EH/s in Paraguay and achieve a total hashrate of 11.5 EH/s by the end of Q2 2025.
Luke Rossy, COO of HIVE, remarked, “We are moving forward with unwavering commitment. Our goal is to reach 25 EH/s by Fall 2025, which would yield over 12 Bitcoins daily at current difficulty levels. With our Paraguay site operational, HIVE is set for a significant year of growth.”
Aydin Kilic, President & CEO of HIVE, noted, “As of March 31, we secured deposits for 4.3 EH/s of Bitmain S21+ miners through prudent treasury management. Our fiscal year-end marked a strategic shift—free of debt and focused on smart execution. Our expansion from 6.5 EH/s to 11.5 EH/s is fully funded, and we are advancing swiftly.”
About Carlos A. Torres Pérez
Carlos A. Torres Pérez is a highly-skilled engineer with over 15 years in large-scale infrastructure and energy systems. Holding degrees in Electronic Engineering and Civil Engineering, Carlos has led various digital transformation and energy deployment projects across Paraguay, including industrial-scale mining sites and smart grid infrastructure.
“This is an important time to act quickly and think innovatively. Paraguay offers the talent, energy, and vision to lead, and HIVE recognizes that potential. This development is more than just an expansion—it sets the stage for a digital future,” expressed Carlos. In his role as Operations & Project Manager, he aims to establish new benchmarks and deliver substantial results.
Granting Incentives
Research from Harvard Business School emphasizes the effectiveness of non-linear rewards and long-term variable incentives in building a strong organizational culture and improving employee retention. These incentives align employees’ interests with the Company’s long-term goals, fostering resilience and commitment to strategic objectives necessary for ongoing growth.
HIVE’s management continues to strengthen its presence in Bitcoin and HPC while maintaining some of the lowest overhead costs in the industry and minimizing shareholder dilution. To honor the efforts of the HIVE team, we are awarding Restricted Share Units (RSUs) that will not vest for a year, ensuring management prioritizes sustainable growth.
As part of this initiative, HIVE is distributing 2,797,000 RSUs to select employees, officers, directors, and eligible consultants under the Company’s RSU Plan, adhering to a minimum one-year vesting period mandated by the TSX Venture Exchange. We also want to clarify a previous announcement from February 17, 2025, which mistakenly stated that 1,090,000 RSUs were issued when the correct figure is 1,117,000.
About HIVE Digital Technologies Ltd.
HIVE Digital Technologies Ltd. is a forward-thinking technology company that advances sustainable blockchain and AI infrastructure powered by green energy. As the first cryptocurrency mining company to be listed on the TSX Venture Exchange in 2017, HIVE has established itself as a global leader in digital asset mining and AI computing, operating in Canada, Sweden, and Paraguay while continuing to innovate and minimize its environmental impact.
For further information, please visit hivedigitaltech.com, and connect with us on:
X: https://x.com/HIVEDigitalTech
YouTube: https://www.youtube.com/@HIVEDigitalTech
Instagram: https://www.instagram.com/hivedigitaltechnologies/
LinkedIn: https://linkedin.com/company/hiveblockchain
On behalf of HIVE Digital Technologies Ltd.
“Frank Holmes”
Executive Chairman
For more information, please contact:
Nathan Fast,
Director of Marketing and Branding
Frank Holmes,
Executive Chairman
Aydin Kilic,
President & CEO
Tel: (604) 664-1078
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the accuracy or adequacy of this news release.
Forward-Looking Statements
This news release includes “forward-looking information,” which refers to statements based on the expectations and projections as of the date of this release. This includes but is not limited to details about the new site acquisition in Paraguay, projected operational timelines, business objectives, mining fleet developments, ongoing Bitcoin operations, government consents, and other forward-looking information pertaining to the Company’s intentions and plans.
Factors influencing actual results could include challenges in acquisitions, construction timelines, local government cooperation, cryptocurrency market volatility, operational viability, and various economic conditions that could impact the Company’s performance.
The forward-looking statements represent the Company’s assumptions about future plans and objectives based on current information. However, these statements are not guarantees of performance, and reliance on them should be approached with caution due to inherent uncertainties. The Company has no obligation to update these statements except as legally required.
For the source version of this press release, please visit https://www.newsfilecorp.com/release/249152
