HIVE Digital Technologies Reaches Key Milestones in Bitcoin Mining and HPC Expansion
HIVE Digital Technologies Ltd. has announced a significant achievement in its global Bitcoin-mining capacity, reaching 23 Exahash per second (EH/s). This positions the Company among industry leaders in 2025 with a remarkable 283% year-to-date growth. In parallel, HIVE has finalized the acquisition of an additional 32.5 acres in Grand Falls, New Brunswick. This expansion is set to transform the site into a cornerstone for Tier III+ High-Performance Computing (HPC) development, capable of scaling to over 25,000 next-generation GPUs. As the AI industrial revolution escalates, HIVE's renewable-energy infrastructure is rapidly deploying hyperscaler-ready facilities to meet the surging global demand for compute power.
The Critical Role of HPC Data Centers in the AI Super Cycle
The current AI super cycle, fueled by advancements in generative AI, machine learning, and real-time data processing, demands an unprecedented level of computational power. Traditional data centers are finding it increasingly challenging to meet these evolving requirements. Global demand for HPC is projected to experience substantial growth as companies, from startups to Fortune 500 corporations, seek liquid-cooled, high-density facilities to deploy the most powerful GPU chips available.
“HIVE is a pioneer in repurposing stranded and surplus renewable energy for digital infrastructure, and is now turbocharging the transition from Bitcoin mining Tier I to Tier III+ HPC data centers in Canada and Sweden. Its Tier III+ HPC expansions aren’t just additions—they are strategic accelerators, delivering scalable, green-powered compute that slashes deployment timelines and costs for hyperscalers chasing the AI edge. HIVE’s wholly owned HPC/AI subsidiary BUZZ HPC plans to scale its HPC data center capacity to support over 30,000 high-performance GPUs for AI cloud.”
HIVE Strengthens Canadian Presence for AI-Driven HPC Growth
HIVE has successfully completed its strategic land acquisition in Grand Falls, New Brunswick, adding 32.5 acres adjacent to its existing 6-acre property. This acquisition, costing CAD $2.3 million, lays the foundation for HIVE’s first Tier III+ AI and HPC data center in Atlantic Canada. The facility is strategically located near the Maine border, positioning it as a key hub within the region's clean-energy ecosystem.
The Grand Falls facility currently leverages abundant renewable hydroelectric power to operate 70 megawatts (MW) of Bitcoin mining. It features an on-site 80 MW substation, with all infrastructure, including buildings, fully owned by HIVE. This expansion significantly enhances the potential for HPC growth, enabling HIVE's BUZZ subsidiary to scale its HPC data center capacity to support over 30,000 GPUs. Its proximity to the Maine border makes it an attractive location for hyperscaler colocation, effectively bridging North American AI infrastructure needs with high efficiency.
Executive Insights on Pioneering the AI Industrial Revolution
Craig Tavares, President & COO of BUZZ HPC, highlighted the strategic advantages of the Grand Falls location. He stated, “Grand Falls offers the ideal convergence of Tier I and Tier III+ HPC data centers with clean power, scalability, and community partnership. Our vision is to transform this site into one of Canada’s most advanced Tier III+ AI HPC data centers, capable of hosting tens of thousands of GPUs for AI and HPC workloads. This marks an important step for BUZZ HPC, HIVE’s Canadian company with a mission to deliver sustainable, high-density compute that fuels the AI industrial revolution.”
Aydin Kilic, President & CEO of HIVE, emphasized the company's unique position in the AI super cycle. He remarked, “Bitcoin miners like HIVE were early visionaries, sourcing stranded or surplus energy to build the foundational infrastructure that now fast-tracks hyperscalers in the AI industrial revolution. We’re not just adapting—we’re turbocharging a double-engine data-center machine, seamlessly building and upgrading Tier I and Tier III+ HPC facilities to unleash the most powerful GPU chips for AI workloads. With 23 EH/s already secured, we’re generating robust cash flows today while scaling green HPC tomorrow in Canada and Paraguay, positioning HIVE as the go-to partner for the compute demands of this era.”
Luke Rossy, HIVE’s COO, added perspective on the operational progress. He noted, “Our Valenzuela facility continues to scale ahead of schedule, with new ASICs driving increased Bitcoin production and generating incremental cash flow to support strategic growth across HIVE’s dual engines of Bitcoin mining and AI cloud computing. This approach maximizes return on invested capital, creates diversified value for shareholders, and reinforces HIVE’s position as a renewable-powered, high-performance digital-infrastructure leader in the AI era.”
HIVE Reaches 23 EH/s Amidst Soaring AI Compute Demand
HIVE's achievement of 23 EH/s underscores the resilience of its global renewable energy portfolio, which boasts an average efficiency of 17.7 J/TH. This occurred even as Bitcoin difficulty reached a record 156T and prices hovered near $108,000, enabling over 50% mining margins post-electricity costs.
The company has completed the deployment of all ASICs and hydro-cooling containers at its third 100 MW green campus in Valenzuela, Paraguay. This facility is powered by the Itaipú Dam, the largest hydroelectric facility in the Western Hemisphere. With commissioning underway, HIVE anticipates reaching 25 EH/s by U.S. Thanksgiving, targeting 17.5 J/TH efficiency and meeting its full 2025 hashrate goals on schedule.
This operational momentum is intrinsically linked to the AI super cycle. The infrastructure developed for Bitcoin mining provides immediate revenue streams that fund HPC upgrades, creating a symbiotic relationship where surplus energy supports both proof-of-work security and the increasing data demands of AI.
Dual-Engine Strategy: Integrating Bitcoin Mining and AI for Scaled Growth
HIVE is progressing with its Tier III+ HPC roadmap, undertaking a conversion of its Boden, Sweden facility from Tier I to a liquid-cooled powerhouse. This retrofit utilizes existing assets to reduce deployment timelines to 9–12 months, significantly faster than greenfield builds. Upon launch, this facility will offer 2,000 high-performance GPUs for EU-based AI workloads.
Complementing this initiative, HIVE's BUZZ data center acquisition in Toronto is slated to house 2,000 GPUs for AI operations in 2026. Additionally, a Bell colocation partnership will add another 2,000 GPUs over the next nine months. By the end of 2026, HIVE projects a total of 6,000 next-generation high-performance GPUs operational in these new facilities, in addition to its current fleet of 5,000 GPUs. Factoring in the conversion of the Grand Falls site from mining to HPC, with a Power Usage Effectiveness (PUE) of 1.3, this location alone could support an additional 25,000 GPUs. This brings HIVE’s long-term HPC data center capacity to approximately 36,000 GPUs.
This strategic expansion accelerates HIVE's growth within the AI super cycle, where HPC data centers are essential engines of innovation.
Operational Momentum and Shareholder Alignment
As previously disclosed, the full hardware rollout at Valenzuela is funded and on-site. Each incremental EH/s contributes to increased Bitcoin output under stable, fixed-rate hydro costs. While results will fluctuate with network dynamics and market prices, HIVE's model demonstrates a strong capacity for scaling while maintaining efficiency across its data centers in Canada, Sweden, and Paraguay.
To recognize the contributions of its team in this AI-driven expansion, HIVE is granting 2,720,900 Restricted Share Units (RSUs) to employees, officers, directors, and consultants. These RSUs are subject to a mandatory one-year TSX Venture Exchange vesting period, aligning management with investors for long-term value creation. These milestone-based awards are designed to foster innovation and retention, aligning global talent with HIVE's vision for sustainable growth and minimal dilution.
HIVE has distributed these RSUs to all employees, both new and long-serving, to maintain its distinct culture focused on efficiency and return on invested capital. The company now operates across nine time zones and five languages.
Quarterly ATM Sales Report
For the three-month period ending September 30, 2025, HIVE Digital Technologies Ltd. issued 30,174,046 common shares under its at-the-market offering program, which commenced in October 2024 and continued in May 2025. These shares generated gross proceeds of C$100.2 million ($73.1 million). The shares were sold at prevailing market prices, averaging C$3.32 per share. A cash commission of $1.9 million was paid to the sales agents for their services under the program.
About HIVE Digital Technologies Ltd.
Founded in 2017, HIVE Digital Technologies Ltd. is a pioneer in the digital asset mining sector, being the first publicly listed company to exclusively utilize green energy. Currently, HIVE operates next-generation blockchain and AI data centers across Canada, Sweden, and Paraguay, serving both Bitcoin and high-performance computing (HPC) clients. HIVE's dual-engine infrastructure, powered by Bitcoin mining and NVIDIA GPU-accelerated AI computing, delivers scalable and environmentally responsible solutions for the digital economy.