HIVE Digital Technologies Completes Acquisition of 7.2 MW Toronto Data Center to Fuel BUZZ's HPC and AI Expansion in Canada

Rhea-AI Summary

HIVE Digital Technologies (NASDAQ: HIVE) has acquired a 7.2 MW data center in Toronto through its subsidiary BUZZ High Performance Computing. The acquisition, valued at CAD$17.25 million, was completed through a combination of CAD$12 million cash payment and 1 million common shares at CAD$5.25 per share.

The facility will be upgraded from Tier 1 to Tier 3 standards to support BUZZ's expansion in AI and HPC services. This strategic move aligns with HIVE's dual-growth strategy, which includes Bitcoin mining operations currently at 18 EH/s with plans to reach 25 EH/s by end of 2025. The acquisition complements BUZZ's existing partnership with Bell Canada and strengthens HIVE's position in the Canadian digital infrastructure market.

Positive

• Strategic acquisition of 7.2 MW Toronto data center expanding AI and HPC capabilities
• Bitcoin mining operations reached 18 EH/s with funded plans to reach 25 EH/s by end-2025
• Facility upgrade from Tier 1 to Tier 3 standards enhancing service capabilities
• Strengthened partnership with Bell Canada in Canadian market

Negative

• CAD$12 million cash expenditure for acquisition
• 1 million share issuance causing potential dilution
• Four-month hold period restriction on issued shares
• Pending TSXV approval requirement for the acquisition

Insights

Technology Infrastructure Specialist

HIVE's $17.25M acquisition of a Toronto data center strengthens its dual-growth strategy in Bitcoin mining and AI/HPC infrastructure.

HIVE Digital Technologies has made a strategic move by acquiring a 7.2 MW data center in Toronto for CAD$17.25 million, paid through a combination of CAD$12 million cash and 1 million shares valued at CAD$5.25 million. This acquisition directly advances HIVE's two-pronged growth strategy.

The company is methodically transforming from a pure Bitcoin mining operation into a diversified digital infrastructure provider. Through its BUZZ subsidiary, HIVE is repurposing former Bitcoin mining facilities into higher-value Tier 3 data centers optimized for AI and high-performance computing workloads. The planned upgrade from Tier 1 to Tier 3 standards is significant - this represents a substantial improvement in infrastructure reliability, from basic power and cooling to redundant systems with 99.982% uptime capabilities.

This acquisition strengthens BUZZ's partnership with Bell Canada, creating synergies in the Canadian market. For investors, this represents a diversification play that hedges against Bitcoin mining volatility while positioning for growth in the AI infrastructure sector.

On the Bitcoin mining front, HIVE has already reached 18 exahashes per second and plans to reach 25 EH/s by year-end. This puts HIVE among the top-tier Bitcoin mining operations globally. The dual focus on traditional Bitcoin mining alongside AI infrastructure development presents a balanced approach to digital asset infrastructure that leverages existing expertise while expanding into higher-margin business lines.

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.

San Antonio, Texas--(Newsfile Corp. - September 17, 2025) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the "Company" or "HIVE"), a diversified multinational digital infrastructure company, today announced the successful acquisition of a 7.2 megawatt (MW) data center in Toronto, Canada, through its wholly owned subsidiary, BUZZ High Performance Computing ("BUZZ").

The Toronto facility will be upgraded from Tier 1 to Tier 3 standards, significantly expanding BUZZ's Canadian footprint and reinforcing its role as HIVE's dedicated platform for High Performance Computing (HPC) and artificial intelligence (AI) growth. This strategic acquisition positions BUZZ to address the growing demand for AI, machine learning, and enterprise cloud solutions with energy-efficient infrastructure.

The acquisition also complements BUZZ's preferred partnership with Bell Canada, as announced on August 19, 2025, further strengthening HIVE's presence in the Canadian digital infrastructure market.

Frank Holmes, Executive Chairman of HIVE, stated:

"BUZZ is driving our HPC and AI strategy forward, and this acquisition marks a pivotal step in expanding our Canadian data center portfolio. By transforming former Bitcoin mining facilities into Tier 3, AI-ready infrastructure, we are capitalizing on one of the most exciting opportunities in the digital economy. HIVE's investment in BUZZ underscores our commitment to leading this transformation."

HIVE's Dual-Engine Growth Strategy

• Bitcoin Mining: Achieved 18 exahashes per second (EH/s) on September 2, 2025, with a fully funded plan to reach 25 EH/s by the end of 2025.

• High Performance Computing: Scaling BUZZ's Tier 3 data centers and deploying advanced GPU infrastructure to meet the demand for AI and HPC workloads.

Transaction Details

In consideration for the Acquisition, HIVE paid to the Vendor CAD$12 million and issued 1 million common shares in the capital of the Company (the "HIVE Shares") at a deemed price of CAD$5.25 million (CAD$5.25 per HIVE Share) for an aggregate acquisition price of CAD$17.25 million.

All of the HIVE Shares issued in connection with the Acquisition are subject to a hold period of four months and one day from the date of issuance. The Acquisition is subject to acceptance of the TSX Venture Exchange (the "TSXV") as an "expedited acquisition" in accordance with TSXV Policy 5.3 - Acquisitions and Dispositions of Non-Cash Assets. Each of the Vendor and the Principal is an arm's length party to the Company.

About HIVE Digital Technologies Ltd.

HIVE Digital Technologies Ltd. is a global pioneer in green digital infrastructure. Established in Canada in 2017 as the first TSX-V listed publicly traded crypto-miner powered by renewable energy, HIVE has evolved into a diversified technology company with two core pillars: Bitcoin mining and HPC through its BUZZ HPC subsidiary.

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 applicable Canadian securities laws, which may include but is not limited to statements regarding: the expected deployment, timing, capacity, and expansion of BUZZ HPC's NVIDIA-accelerated infrastructure; the potential impact on Canadian AI innovation, competitiveness, and economic growth; compliance with privacy, cybersecurity, and data residency regulations; the use of renewable energy; and any other future-oriented statements. Forward-looking information is based on current expectations, estimates, forecasts, and projections, as well as management's beliefs and assumptions, including that the partnership will proceed as planned, infrastructure will be deployed on the expected timelines and within budget, demand for AI computing will continue to grow, and regulatory requirements will remain consistent with current expectations, 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.

Forward-looking information involves known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: the risk that deployment timelines may change; that costs may exceed expectations; that demand for AI infrastructure may be lower than anticipated; that partnerships or regulatory approvals may not materialize as expected; and the risk factors described in the Company's continuous disclosure documents available on SEDAR+ at www.sedarplus.ca. Readers are cautioned not to place undue reliance on forward-looking information. The Company disclaims any obligation to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/266898

FAQ

What is the value of HIVE Digital Technologies' Toronto data center acquisition?

The total acquisition value is CAD$17.25 million, comprising CAD$12 million in cash and 1 million common shares at CAD$5.25 per share.

How many exahashes per second (EH/s) does HIVE currently achieve in Bitcoin mining?

HIVE achieved 18 EH/s as of September 2, 2025, with plans to reach 25 EH/s by the end of 2025.

What is the capacity of HIVE's newly acquired Toronto data center?

The newly acquired Toronto data center has a capacity of 7.2 megawatts (MW) and will be upgraded from Tier 1 to Tier 3 standards.

How does the Toronto data center acquisition align with HIVE's strategy?

The acquisition supports HIVE's dual-engine growth strategy by expanding BUZZ's HPC and AI capabilities while complementing their Bitcoin mining operations and partnership with Bell Canada.

What are the terms for HIVE shares issued in the Toronto data center acquisition?

The 1 million HIVE shares issued are subject to a four-month and one-day hold period from the issuance date, with a deemed price of CAD$5.25 per share.