HIVE Digital Technologies Achieves 290% Year-Over-Year Hashrate Growth, Strengthening Its Position as a Global Leader in Green-Powered Digital Infrastructure

Rhea-AI Summary

HIVE (NASDAQ: HIVE) reported January 2026 operational results showing 290% year-over-year hashrate growth and production of 297 BTC (+191% YoY). Fleet efficiency averaged 17.5 J/TH and average daily production was 9.6 BTC/day. Global hashrate share remained above 2%.

HIVE received 2,667 Bitmain S21 XP miners in Paraguay, expects installed hashrate to rise to 25.5 EH/s, and will expand renewable capacity from 440 MW to 540 MW by Q3 2026.

Positive

• Hashrate +290% YoY averaged 22.2 EH/s in January 2026
• Production +191% YoY with 297 BTC produced in January 2026
• Fleet efficiency at 17.5 J/TH, improving to ~17 J/TH after new ASICs
• Renewable capacity expanding to 540 MW (440 MW current +100 MW contracted)
• Global share >2% of worldwide Bitcoin hashrate

Negative

• Network difficulty +30% YoY for January 2026, a headwind to production
• Pledge timelines extended, introducing timing uncertainty for remaining redemption events

News Market Reaction – HIVE

-12.23%

31 alerts

-12.23% News Effect

+8.2% Peak Tracked

-15.1% Trough Tracked

-$82M Valuation Impact

$589.65M Market Cap

0.8x Rel. Volume

On the day this news was published, HIVE declined 12.23%, reflecting a significant negative market reaction. Argus tracked a peak move of +8.2% during that session. Argus tracked a trough of -15.1% from its starting point during tracking. Our momentum scanner triggered 31 alerts that day, indicating elevated trading interest and price volatility. This price movement removed approximately $82M from the company's valuation, bringing the market cap to $589.65M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

January 2026 BTC produced: 297 BTC BTC production YoY change: +191% Average hashrate: 22.2 EH/s (peak 23.7 EH/s) +5 more

8 metrics

January 2026 BTC produced 297 BTC January 2026 production

BTC production YoY change +191% 297 BTC vs 102 BTC in January 2025

Average hashrate 22.2 EH/s (peak 23.7 EH/s) January 2026 operations

Hashrate YoY growth 290% YoY January 2026 vs January 2025 hashrate

Fleet efficiency 17.5 J/TH January 2026 fleet efficiency

Value from cashless exercises $7.4 million Realized via cashless exercise of 480 BTC pledge

New ASIC miners 2,667 units Bitmain S21 XP ASIC miners purchased for Paraguay

Renewable energy capacity 440 MW + 100 MW planned Current and contracted capacity, totaling 540 MW portfolio

Market Reality Check

Price: $1.8200 Vol: Volume 11,602,672 is belo...

normal vol

$1.8200 Last Close

Volume Volume 11,602,672 is below the 20-day average of 14,153,225 (relative volume 0.82). normal

Technical Price at 2.29 is trading below the 200-day moving average of 3.01 and 70.79% below the 52-week high.

Peers on Argus

While HIVE is down 7.1%, crypto‑adjacent peers like BTBT (-6.35%), BITF (-10.35%...

While HIVE is down 7.1%, crypto‑adjacent peers like BTBT (-6.35%), BITF (-10.35%) and FUFU (-0.72%) are also weaker, whereas non‑crypto peers such as OPY (+5.22%) and AMRK (+2.17%) are up, pointing to crypto‑specific pressure rather than a broad financials selloff.

Previous Crypto Reports

5 past events · Latest: Jan 28 (Neutral)

Same Type Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 28	AGM materials notice	Neutral	-3.0%	Filed and mailed annual general and special meeting materials to shareholders.
Jan 07	December production update	Positive	+0.3%	Reported strong December Bitcoin production and full‑year growth maintaining >2% network share.
Jan 07	December production detail	Positive	+0.3%	Highlighted December BTC output, hashrate, efficiency and full‑year 2025 production gains.
Nov 17	Record Q2 results	Positive	+7.5%	Announced record Q2 FY2026 revenue and hashrate growth with higher BTC mining revenue.
Oct 06	September production update	Positive	+25.2%	Reported higher September BTC production, hashrate expansion and progress toward 25 EH/s.

Pattern Detected

Crypto‑tagged operational and financial updates have generally seen positive or modestly positive reactions, while administrative meeting notices drew a small negative move.

Recent Company History

Over the past few months, HIVE’s crypto‑tagged news has focused on production growth, efficiency and scaling renewable‑powered capacity. On Oct 6, 2025, a strong September production update with higher hashrate and BTC output coincided with a 25.17% gain. Record Q2 results on Nov 17, 2025 brought a 7.55% move. December production updates on Jan 7, 2026 saw marginal gains, while a meeting‑materials notice on Jan 28, 2026 coincided with a small decline. Today’s January 2026 production release continues this operational growth narrative.

Historical Comparison

+6.1% avg move · Past crypto‑tagged HIVE updates showed an average move of 6.08%, often positive on production and ha...

crypto

+6.1%

Average Historical Move crypto

Past crypto‑tagged HIVE updates showed an average move of 6.08%, often positive on production and hashrate growth, so this January update fits a continued scaling theme.

Crypto‑tagged news traces a progression from September 2025 production gains through record Q2 FY2026 revenue and steadily rising hashrate and renewable capacity into successive monthly production updates.

Market Pulse Summary

The stock dropped -12.2% in the session following this news. A negative reaction despite strong oper...

Analysis

The stock dropped -12.2% in the session following this news. A negative reaction despite strong operational growth would fit a pattern where broader crypto sentiment at times outweighs company‑specific progress. January figures highlight robust hashrate and BTC output gains, but the stock had already been trading well below its 52‑week high of 7.84. Any sharp decline could reflect sector risk, profit‑taking, or concern about cyclicality in mining economics rather than a clear shift in HIVE’s execution metrics.

Key Terms

hashrate, exahash per second, joules per terahash, bitcoin mining difficulty, +2 more

6 terms

hashrate technical

"highlighted by 290% year-over-year hashrate growth, highly competitive fleet efficiency"

Hashrate is a measure of how quickly a computer network can process and verify transactions, often expressed as the number of calculations it can perform in a second. Think of it like the engine power of a car; the higher the hashrate, the more work the network can do in a given time. For investors, a higher hashrate generally indicates a more secure and robust network, which can influence confidence and the value of related digital assets.

exahash per second technical

"Hashrate: Averaged 22.2 Exahash per Second ("EH/s"), peaking at 23.7 EH/s"

Exahash per second (EH/s) is a measure of computing power used in cryptocurrency mining equal to one quintillion (10^18) hashing operations every second; think of it like the number of lottery tickets being checked each second. For investors, a higher exahash rate signals a stronger, more secure network and greater competition among miners, which can influence mining profitability, network transaction costs, and the energy intensity tied to the asset.

joules per terahash technical

"Fleet Efficiency: 17.5 Joules per Terahash ("J/TH")"

Measure of energy required to perform one terahash (one trillion hash attempts) of cryptographic work, expressed in joules; a lower joules-per-terahash number indicates more energy-efficient mining equipment. Investors monitor it because it directly affects a miner’s electricity costs, profitability and environmental footprint—similar to miles per gallon for cars, better efficiency lowers running costs and can improve competitive and regulatory standing.

bitcoin mining difficulty technical

"while Bitcoin mining difficulty increased 30% year-over-year for the month of January"

A measure of how hard it is for computers to solve the puzzle required to add a new block to the Bitcoin ledger; the network adjusts it up or down so new blocks appear at a steady pace (roughly every 10 minutes). Think of it like tightening a lock as more people try to pick it: higher difficulty means miners need more computing power and electricity. Investors watch it because changes affect miner profitability, the rate of new coin supply, and the overall security and health of the Bitcoin network.

cashless exercises financial

"HIVE realized approximately $7.4 million in value through the cashless exercises of 480 BTC"

A cashless exercise is a way for someone holding stock options to convert them into shares without paying cash up front: a broker or the company sells enough of the newly issued shares immediately to cover the option price and any taxes, and the option holder receives the remaining shares. Investors care because cashless exercises reduce the number of new shares entering the market compared with a full cash purchase, but they still cause some dilution to existing shareholders and affect reported share counts and per-share metrics.

asic miners technical

"purchase of 2,667 Bitmain S21 XP ASIC miners."

ASIC miners are specialized devices designed to perform the complex calculations needed to verify and add transactions to a blockchain, such as Bitcoin. Unlike general computers, they are built specifically for this task, making them much faster and more efficient. For investors, ASIC miners are important because they determine how easily and profitably new coins can be created and transactions processed within the network.

AI-generated analysis. Not financial advice.

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. - February 5, 2026) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (BVC: HIVECO) (the "Company" or "HIVE"), a diversified global leader in renewable-powered blockchain and AI infrastructure, today announced exceptional Bitcoin production results for January 2026, highlighted by 290% year-over-year hashrate growth, highly competitive fleet efficiency, and consistent performance across its Tier-1 and Tier-3 data centers worldwide (all amounts in US dollars, unless otherwise indicated).

Built for Scale and Resilience

Since its founding in 2017, HIVE has built one of the most geographically diversified digital infrastructure platforms in the public Bitcoin mining sector. Operating across nine time zones, three continents, and five languages, the Company's teams in Canada, Sweden, and Paraguay coordinate around the clock to optimize uptime, energy efficiency, and production.

This distributed operating model enabled HIVE to maintain steady performance through January's severe northern hemisphere cold fronts, while portions of the global mining network experienced curtailments. The Company continues to demonstrate consistent execution across 4-year Bitcoin halving cycles, bear markets, unwinding of Japanese carry trade that ignites selling in global capital markets, extreme cold weather events, and energy volatility.

With HIVE's geographically decentralized operating model—spanning the northern and southern hemisphere—Company is pleased to note the high uptime, operational resilience, and production consistency in Paraguay, the flagship southern hemisphere operations for HIVE.

January 2026 Production Highlights

• Bitcoin Produced: 297 BTC

  • +191% year-over-year (102 BTC in January 2025), while Bitcoin mining difficulty increased 30% year-over-year for the month of January

• Average Daily Production: 9.6 BTC/day

• Hashrate: Averaged 22.2 Exahash per Second ("EH/s"), peaking at 23.7 EH/s

  • +290% year-over-year (5.7 EH/s in January 2025)

• Fleet Efficiency: 17.5 Joules per Terahash ("J/TH")

• BTC per EH/s: 13.4 BTC

• Global Bitcoin Network Share: Sustained above 2% of worldwide Bitcoin hashrate

Strategic Execution and Responsible Growth

HIVE realized approximately $7.4 million in value through the cashless exercises of 480 BTC tied to its 2025 Bitcoin pledge, at an average value of approximately $102,000, including exercises done at $110,000 per Bitcoin; these cashless exercises have preserved treasury flexibility. Remaining pledge redemption timelines were extended, while securing Bitcoin downside protection, reflecting the Company's disciplined and risk-aware capital management strategy.

The Company has no cash calls required to buy back Bitcoin under the pledge. Rather, the pledge provides Bitcoin downside protection, with potential upside realized through cashless exercise when Bitcoin is above the pledge strike price. Certain proceeds of the cashless exercises have been applied towards the purchase of 2,667 Bitmain S21 XP ASIC miners.

These new air-cooled Bitmain S21 XP ASIC miners have been received in Paraguay and are being installed this week at Yguazú, upgrading and replacing legacy Buzzminer ASICs. Going forward, this is expected to increase HIVE's installed global hashrate to 25.5 EH/s and improve its global average fleet efficiency to 17 J/TH. These upgrades enhance operational efficiency, lower the cost per hash, and therefore improve operating margins.

HIVE's total current operational capacity is 440 megawatts ("MW") of renewable-powered energy. Additionally, HIVE has another 100 MW of renewable contracted energy scheduled for deployment in calendar Q3 2026. As a result, HIVE will have a total portfolio of 540 MW of green energy. Although the Company previously disclosed that the additional 100 MW of capacity would be used to expand its EH/s, this new capacity also enhances the Company's ability to support potential future AI and high-performance computing workloads.

Management Commentary

"Our strength comes from our people and our disciplined execution," said Frank Holmes, Executive Chairman. "Teams operating across nine time zones work with shared purpose and precision, allowing us to scale efficiently and remain profitable through every market cycle. With 290% year-over-year growth and more than 2% of the global hashrate, HIVE continues to benefit from economies of scale while maintaining the flexibility to navigate volatility while growing our business."

Aydin Kilic, President & CEO, added: "Our operational performance reflects years of focused investment in renewable energy, high-efficiency hardware, and a decentralized global team. January's results validate our strategy and provide a strong foundation as we expand further into AI and high-performance computing infrastructure."

About HIVE Digital Technologies Ltd.

Founded in 2017, HIVE Digital Technologies Ltd. is the first publicly listed company to mine digital assets powered by green energy. Today, HIVE builds and operates next-generation Tier-1 and Tier-3 data centers across Canada, Sweden, and Paraguay, serving both Bitcoin and high-performance computing clients. HIVE's twin-turbo engine infrastructure-driven by Bitcoin mining and GPU-accelerated AI computing-delivers scalable, environmentally responsible solutions for the digital economy.

For more information, visit hivedigitaltech.com, or 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 further 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 (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-Looking Information

Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian and United States securities legislation and regulations that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes but is not limited to: the construction of the Company's site in Yguazú, Paraguay and its potential specifications and performance upon completion, the timing of it becoming operational; hash rash growth projections; business goals and objectives of the Company; the results of operations for January 2026; the acquisition, deployment and optimization of the mining fleet and equipment; the continued viability of its existing Bitcoin mining operations; the prospectivity of the BUZZ HPC operations and the ability of the Company to successfully expand the infrastructure and operate in this sector, the receipt of government consents; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.

Factors that could cause actual results to differ materially from those described in such forward looking information include, but are not limited to: the inability to complete the construction of the Paraguay acquisition on an economic and timely basis and achieve the desired operational performance; the possibility of flaws in the implementation of the Paraguay build-out and energization; the ongoing support and cooperation of local authorities and the Government of Paraguay; the volatility of the digital currency market; the Company's ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company's operations; the regulatory environment for cryptocurrency in Canada, the United States and the countries where our mining facilities are located; an inability to apply the Company's data centers to HPC/AI opportunities on a profitable basis; a failure to secure long-term contracts associated with HPC/AI customers on terms which are economic or at all; economic dependence on regulated terms of service and electricity rates; the speculative and competitive nature of the technology sector; dependency on continued growth in blockchain and cryptocurrency usage; lawsuits and other legal proceedings and challenges; government regulations; the global economic climate; dilution; future capital needs and uncertainty of additional financing, including the Company's ability to utilize the Company's ATM Program and the prices at which the Company may sell Common Shares in the ATM Program, as well as capital market conditions in general; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the need for continued technology change; the ability to maintain reliable and economical sources of power to run its cryptocurrency mining assets; the impact of energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; share dilution resulting from the ATM Program and from other equity issuances; the construction and operation of facilities may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of electricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power for the Company to operate cryptocurrency mining assets; the risks of an increase in the Company's electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and the adverse impact on the Company's profitability; the ability to complete current and future financings, any regulations or laws that will prevent the Company from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; an inability to predict and counteract the effects of pandemics on the business of the Company, including but not limited to the effects of pandemics on the price of digital currencies, capital market conditions, restriction on labour and international travel and supply chains; and, the adoption or expansion of any regulation or law that will prevent the Company from operating its business, or make it more costly to do so; and other related risks as more fully set out in the Company's disclosure documents under the Company's filings at www.sec.gov/EDGAR and www.sedarplus.ca.

The forward-looking information in this news release reflects the Company's current expectations, assumptions, and/or beliefs based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's objectives, goals or future plans, the timing thereof and related matters. The Company has also assumed that no significant events will occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance, and accordingly, undue reliance should not be put on such information due to its inherent uncertainty. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, other than as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/282813

FAQ

How much did HIVE (HIVE) grow its hashrate in January 2026?

HIVE reported a 290% year-over-year hashrate increase in January 2026. According to the company, hashrate averaged 22.2 EH/s and peaked at 23.7 EH/s, up from 5.7 EH/s in January 2025.

What were HIVE's Bitcoin production and daily output in January 2026 (HIVE)?

HIVE produced 297 BTC in January 2026, averaging 9.6 BTC per day. According to the company, this represents a 191% year-over-year increase versus January 2025, when production was 102 BTC.

How will the new Bitmain S21 XP miners affect HIVE's fleet and efficiency (HIVE)?

The new Bitmain S21 XP units are expected to raise installed hashrate to 25.5 EH/s and improve fleet efficiency to ~17 J/TH. According to the company, 2,667 units arrived in Paraguay and are being installed this week.

What is HIVE's current and planned renewable energy capacity (HIVE)?

HIVE currently operates 440 MW of renewable-powered capacity and has 100 MW contracted for deployment in Q3 2026. According to the company, total portfolio capacity will reach 540 MW after deployment.

Did HIVE disclose risks from network difficulty or pledge activity in January 2026 (HIVE)?

Yes. HIVE noted network difficulty rose by 30% year-over-year in January 2026 and that certain pledge redemption timelines were extended. According to the company, cashless exercises preserved treasury flexibility and no cash calls are required.