Latest news with #HIVEDigitalTechnologies
Yahoo
3 days ago
- Business
- Yahoo
HIVE hits $115.3M revenue in FY2025 as AI cloud earnings triple
HIVE hits $115.3M revenue in FY2025 as AI cloud earnings triple originally appeared on TheStreet. HIVE Digital Technologies Ltd. (Nasdaq: HIVE), a prominent crypto mining company, announced total revenue of $115.3 million for fiscal year 2025, which was driven by a solid year of revenue-generating Bitcoin mining and explosive growth in the AI cloud operations. As per the latest financial report, HIVE faced challenges similar to those faced by many others in the industry, related to the April 2024 Bitcoin halving and hash rate difficulty in the mining environment. However, HIVE revealed that digital currency mining revenue was $105.2 million in FY2025, 5.2% lower than the previous year. Join the discussion with Coach K Crypto The company was able to address several of these concerns due to a 40% increase in mining hashrate, which rose from 4.5 EH/s to 6.3 EH/s throughout the year, and upward price action of Bitcoin. HIVE mined a total of 1,414 BTC, and the combined total number of digital assets was 2,201 BTC, representing a value of approximately $181.1 million. HIVE's high-performance computing (HPC) and AI cloud segment contributed to $10.1 million in revenue in FY2025, nearly 3 times the $3.4 million revenue in FY2024. The company's growth can be attributed to a surge in AI demand, as HIVE scaled its GPU fleet to 5,000 GPUs under its BUZZ HPC business. Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) was $56.2 million or 48.7% of total revenue, with $25.1 million (21.8%) in gross operating margins. Generally Accepted Accounting Principles (GAAP) net loss was $3 million, partly due to increasing general and administrative expenses, to $16.6 million due to increased general infrastructure, especially in Paraguay, where HIVE ramped its capacity from 140 MW to 440 MW. HIVE co-founder and executive chairman Frank Holmes highlighted the firm's "disciplined growth" and strategic positioning in its Bitcoin mining and AI infrastructure. HIVE hits $115.3M revenue in FY2025 as AI cloud earnings triple first appeared on TheStreet on Jun 26, 2025 This story was originally reported by TheStreet on Jun 26, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
4 days ago
- Business
- Globe and Mail
RETRANSMISSION: HIVE Achieves FY2025 Total Revenue of $115.3 Million and $56.2 Million Adjusted EBITDA with 1,414 Bitcoin Mined and 3x Growth in AI GPU Revenue
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. - June 26, 2025) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (referred to as the "Company" or "HIVE"), a global leader in sustainable data center infrastructure, announces its results for the full year ended March 31, 2025 (all amounts in US dollars, unless otherwise indicated). FY2025 Financial Highlights: Total Revenue: $115.3 million, from digital currency mining and high-performance computing (HPC) hosting services. Digital currency mining revenue: $105.2 million, down 5.2% year-over-year mainly due to the April 2024 Bitcoin Halving and increased hash rate difficulty, mostly offset by 40% higher digital currency mining hashrate (from 4.5 EH/s at end of March 2024 to 6.3 EH/s at end of March 2025) and higher Bitcoin prices. HPC/AI Cloud Revenue: $10.1 million, representing approximately 3x growth year-over-year ($3.4 million FY2024), mainly due to expansion of GPU fleet earning AI Compute revenue, driven by strong demand for high-performance computing markets. Bitcoin Production: Mined 1,414 Bitcoin during the fiscal year, which contributed to HIVE's HODL position. Gross Operating Margins: $25.1 million in gross operating margin or 21.8%. G&A: $16.6 million, up from $13.2 million in FY2024 primarily as a result of increased staff to support HIVE's global expansion in digital currency mining, particularly in Paraguay (representing 3x growth from 140 megawatts ("MW") to 440 MW of digital asset infrastructure), and the growth of its BUZZ HPC business (with the number of GPUs growing to over 5,000). Net Income: US GAAP net loss of $3.0 million. Adjusted EBITDA 1: $56.2 million in Adjusted EBITDA or 48.7% of total revenue. Digital Assets: Total digital currency assets valued at $181.1 million at the ended the fiscal year on March 31, 2025, including 2,201 Bitcoin. Management Insights Frank Holmes, Co-Founder and Executive Chairman of HIVE, commented, "In Fiscal 2025, we continued our track record of disciplined growth. We expanded our operational hashrate from approximately 4.5 EH/s in March 31, 2024 to 6.3 EH/s in March 31 2025—a 40% increase achieved even as the post-halving landscape compressed industry economics. Further, we acquired 300 MW of hydro-powered green-energy sites in Paraguay that management believes has deepened our leadership bench with visionaries like Lieutenant General (Ret.) John R. Evans Jr, Gabriel Lamas, and cloud-computing pioneer Craig Tavares and will transform HIVE's growth in both the mining and HPC businesses. We are extremely excited about the remainder of this year as we scale our Bitcoin mining business to the Company's goal of 25 EH/s by December 31, 2025 and continue the strong growth in our Buzz HPC Business. I'd like to thank our dedicated employees and shareholders for their continued support. Looking forward, our mandate remains the same as it always has been: compound strong shareholder value through disciplined, high-return on invested capital ("ROIC") growth powered by green energy." Aydin Kilic, President & CEO of HIVE, stated, "The foundation we set in Fiscal 2025 with the acquisition of our 100 MW site in Valenzuela, Paraguay and the 200 MW site in Yguazú, Paraguay has set the stage for what management believes will be the most transformative chapter in HIVE's history. Since the end of Fiscal 2025, HIVE commissioned the first 100 MW at Yguazú two weeks ahead of its projected schedule, which nearly doubled our hashrate to 11.5 EH/s as of today, with 5.5 Bitcoin being produced daily. The announced exahash growth with the Paraguay expansions and the continued growth path for our Buzz HPC division, gives HIVE two high-revenue engines of growth. With Paraguay ramping weekly, new Bitmain S21+ Hydro machines, and our diversified infrastructure strategy firmly in place, management's focuses are driving lower production costs, expanding cash flow, and delivering sustainable long-term value for our shareholders, all while maintaining our green energy focused strategy. We have been strong in the sector when it comes to ROIC as well, with 22% ROIC achieved over the past 12 months, while keeping low general and administrative expenses per Bitcoin mined as well. I am incredibly proud of our team. 2025 is a transformative year for HIVE." Darcy Daubaras, CFO of HIVE, added, "This reporting period marks a significant milestone for our Company as we have transitioned our financial reporting framework from IFRS to US GAAP. This change aligns with our strategic objectives, enhances comparability with U.S.-listed peers, and supports our potential growth ambitions in U.S. capital markets. We remain committed to transparency and will continue to provide clear, consistent reporting as we move forward. With every megawatt and associated mining hardware for our 300 MW Paraguay expansion now fully funded, we are excited to be on track to deliver our target of 25 EH/s by US Thanksgiving—more than quadrupling our hashrate from March 2025. We believe the scale and efficiency gains from this expansion will significantly enhance our unit economics and drive significant shareholder returns. The initiatives launched in Fiscal 2025 represent the beginning of HIVE's transformation from a modest digital mining company into a globally scaled, sustainability-focused leader in Bitcoin infrastructure." The Company's Consolidated Financial Statements and Management's Discussion and Analysis (MD&A) thereon for the three months and year ended March 31, 2025 will be accessible on SEDAR+ at under HIVE's profile and on the Company's website at Q4 FY2025 Financial Highlights: Total Revenue: $31.2 million, from digital currency mining and high-performance computing (HPC) hosting services. Digital currency mining revenue: $28.1 million, up 5.5% sequentially from fiscal Q3 2025 mainly due higher average digital currency mining hashrate (from 5.4 EH/s in fiscal Q3 2025 to 5.9 EH/s in fiscal Q4 2025) and slightly higher Bitcoin prices. G&A: $5.3 million, up slightly from $4.6 million in Q3 FY2025 primarily as a result of increased staff to support HIVE's global expansion in digital currency mining, particularly in Paraguay, and the growth of its BUZZ HPC business. Bitcoin Production: Mined 303 Bitcoin, down 6% sequentially from fiscal Q3 2025 due to increased hashrate difficulty. HPC Revenue: Buzz HPC revenue was a record $3.0 million during the quarter, up 18.5% sequentially, driven by strong demand for high-performance computing markets. Gross Operating Margins: $8.8 million in gross operating margin or 28.2%. Net Income: GAAP net loss of $52.9 million. Adjusted EBITDA 1: ($30.7) million in Adjusted EBITDA primarily due to quarter end non-cash revaluation 2 of ($26.4) million digital currencies held on balance sheet as a result of lower quarter end spot Bitcoin price. Since March 31, 2025, Bitcoin price has recovered to approximately $101,000 as of the date of this report. In addition, the Company recorded a $6.7 million non-cash, unrealized loss related to its equity investments. Financial Statements and MD&A The Company's Consolidated Financial Statements and Management's Discussion and Analysis (MD&A) thereon for the year ended March 31, 2025 will be accessible on SEDAR+ at under HIVE's profile and on the Company's website at About HIVE Digital Technologies Ltd. Founded in 2017, HIVE Digital Technologies Ltd. builds and operates sustainable blockchain and AI infrastructure powered by renewable hydroelectric energy. With a global footprint across Canada, Sweden, and Paraguay, HIVE is committed to operational excellence, green energy leadership, and creating long-term value for its shareholders and host communities. For more information, visit or connect with us on: X: YouTube: Instagram: LinkedIn: On Behalf of HIVE Digital Technologies Ltd. "Frank Holmes" Executive Chairman 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 acquisition of the new site in Paraguay and its potential, the timing of it becoming operational; business goals and objectives of the Company; the results of operations for the three months and year ended March 31, 2025; the acquisition, deployment and optimization of the mining fleet and equipment; the continued viability of its existing Bitcoin mining operations; 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 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; 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 and 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 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.
Globe and Mail
4 days ago
- Business
- Globe and Mail
HIVE Achieves FY2025 Total Revenue of $115.3 Million and $56.2 Million Adjusted EBITDA with 1,414 Bitcoin Mined and 3x Growth in AI GPU Revenue
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. - June 26, 2025) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (referred to as the "Company" or "HIVE"), a global leader in sustainable data center infrastructure, announces its results for the full year ended March 31, 2025 (all amounts in US dollars, unless otherwise indicated). FY2025 Financial Highlights: Total Revenue: $115.3 million, from digital currency mining and high-performance computing (HPC) hosting services. Digital currency mining revenue: $105.2 million, down 5.2% year-over-year mainly due to the April 2024 Bitcoin Halving and increased hash rate difficulty, mostly offset by 40% higher digital currency mining hashrate (from 4.5 EH/s at end of March 2024 to 6.3 EH/s at end of March 2025) and higher Bitcoin prices. HPC/AI Cloud Revenue: $10.1 million, representing approximately 3x growth year-over-year ($3.4 million FY2024), mainly due to expansion of GPU fleet earning AI Compute revenue, driven by strong demand for high-performance computing markets. Bitcoin Production: Mined 1,414 Bitcoin during the fiscal year, which contributed to HIVE's HODL position. Gross Operating Margins: $25.1 million in gross operating margin or 21.8%. G&A: $16.6 million, up from $13.2 million in FY2024 primarily as a result of increased staff to support HIVE's global expansion in digital currency mining, particularly in Paraguay (representing 3x growth from 140 megawatts ("MW") to 440 MW of digital asset infrastructure), and the growth of its BUZZ HPC business (with the number of GPUs growing to over 5,000). Net Income: US GAAP net loss of $3.0 million. Adjusted EBITDA 1: $56.2 million in Adjusted EBITDA or 48.7% of total revenue. Digital Assets: Total digital currency assets valued at $181.1 million at the ended the fiscal year on March 31, 2025, including 2,201 Bitcoin. Management Insights Frank Holmes, Co-Founder and Executive Chairman of HIVE, commented, "In Fiscal 2025, we continued our track record of disciplined growth. We expanded our operational hashrate from approximately 4.5 EH/s in March 31, 2024 to 6.3 EH/s in March 31 2025—a 40% increase achieved even as the post-halving landscape compressed industry economics. Further, we acquired 300 MW of hydro-powered green-energy sites in Paraguay that management believes has deepened our leadership bench with visionaries like Lieutenant General (Ret.) John R. Evans Jr, Gabriel Lamas, and cloud-computing pioneer Craig Tavares and will transform HIVE's growth in both the mining and HPC businesses. We are extremely excited about the remainder of this year as we scale our Bitcoin mining business to the Company's goal of 25 EH/s by December 31, 2025 and continue the strong growth in our Buzz HPC Business. I'd like to thank our dedicated employees and shareholders for their continued support. Looking forward, our mandate remains the same as it always has been: compound strong shareholder value through disciplined, high-return on invested capital ("ROIC") growth powered by green energy." Aydin Kilic, President & CEO of HIVE, stated, "The foundation we set in Fiscal 2025 with the acquisition of our 100 MW site in Valenzuela, Paraguay and the 200 MW site in Yguazú, Paraguay has set the stage for what management believes will be the most transformative chapter in HIVE's history. Since the end of Fiscal 2025, HIVE commissioned the first 100 MW at Yguazú two weeks ahead of its projected schedule, which nearly doubled our hashrate to 11.5 EH/s as of today, with 5.5 Bitcoin being produced daily. The announced exahash growth with the Paraguay expansions and the continued growth path for our Buzz HPC division, gives HIVE two high-revenue engines of growth. With Paraguay ramping weekly, new Bitmain S21+ Hydro machines, and our diversified infrastructure strategy firmly in place, management's focuses are driving lower production costs, expanding cash flow, and delivering sustainable long-term value for our shareholders, all while maintaining our green energy focused strategy. We have been strong in the sector when it comes to ROIC as well, with 22% ROIC achieved over the past 12 months, while keeping low general and administrative expenses per Bitcoin mined as well. I am incredibly proud of our team. 2025 is a transformative year for HIVE." Darcy Daubaras, CFO of HIVE, added, "This reporting period marks a significant milestone for our Company as we have transitioned our financial reporting framework from IFRS to US GAAP. This change aligns with our strategic objectives, enhances comparability with U.S.-listed peers, and supports our potential growth ambitions in U.S. capital markets. We remain committed to transparency and will continue to provide clear, consistent reporting as we move forward. With every megawatt and associated mining hardware for our 300 MW Paraguay expansion now fully funded, we are excited to be on track to deliver our target of 25 EH/s by US Thanksgiving—more than quadrupling our hashrate from March 2025. We believe the scale and efficiency gains from this expansion will significantly enhance our unit economics and drive significant shareholder returns. The initiatives launched in Fiscal 2025 represent the beginning of HIVE's transformation from a modest digital mining company into a globally scaled, sustainability-focused leader in Bitcoin infrastructure." The Company's Consolidated Financial Statements and Management's Discussion and Analysis (MD&A) thereon for the three months and year ended March 31, 2025 will be accessible on SEDAR+ at under HIVE's profile and on the Company's website at Q4 FY2025 Financial Highlights: Total Revenue: $31.2 million, from digital currency mining and high-performance computing (HPC) hosting services. Digital currency mining revenue: $28.1 million, up 5.5% sequentially from fiscal Q3 2025 mainly due higher average digital currency mining hashrate (from 5.4 EH/s in fiscal Q3 2025 to 5.9 EH/s in fiscal Q4 2025) and slightly higher Bitcoin prices. G&A: $5.3 million, up slightly from $4.6 million in Q3 FY2025 primarily as a result of increased staff to support HIVE's global expansion in digital currency mining, particularly in Paraguay, and the growth of its BUZZ HPC business. Bitcoin Production: Mined 303 Bitcoin, down 6% sequentially from fiscal Q3 2025 due to increased hashrate difficulty. HPC Revenue: Buzz HPC revenue was a record $3.0 million during the quarter, up 18.5% sequentially, driven by strong demand for high-performance computing markets. Gross Operating Margins: $8.8 million in gross operating margin or 28.2%. Net Income: GAAP net loss of $52.9 million. Adjusted EBITDA 1: ($30.7) million in Adjusted EBITDA primarily due to quarter end non-cash revaluation 2 of ($26.4) million digital currencies held on balance sheet as a result of lower quarter end spot Bitcoin price. Since March 31, 2025, Bitcoin price has recovered to approximately $101,000 as of the date of this report. In addition, the Company recorded a $6.7 million non-cash, unrealized loss related to its equity investments. Financial Statements and MD&A The Company's Consolidated Financial Statements and Management's Discussion and Analysis (MD&A) thereon for the year ended March 31, 2025 will be accessible on SEDAR+ at under HIVE's profile and on the Company's website at About HIVE Digital Technologies Ltd. Founded in 2017, HIVE Digital Technologies Ltd. builds and operates sustainable blockchain and AI infrastructure powered by renewable hydroelectric energy. With a global footprint across Canada, Sweden, and Paraguay, HIVE is committed to operational excellence, green energy leadership, and creating long-term value for its shareholders and host communities. For more information, visit or connect with us on: X: YouTube: Instagram: LinkedIn: On Behalf of HIVE Digital Technologies Ltd. "Frank Holmes" Executive Chairman 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 acquisition of the new site in Paraguay and its potential, the timing of it becoming operational; business goals and objectives of the Company; the results of operations for the three months and year ended March 31, 2025; the acquisition, deployment and optimization of the mining fleet and equipment; the continued viability of its existing Bitcoin mining operations; 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 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; 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 and 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 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.
Globe and Mail
6 days ago
- Business
- Globe and Mail
BUZZ HPC Launches Another NVIDIA Hopper GPU Cluster, as One of Canada's Leading Sovereign AI Clouds
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. Toronto, Ontario--(Newsfile Corp. - June 24, 2025) - BUZZ High Performance Computing ("BUZZ HPC"), a wholly owned subsidiary of HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (referred to as the "Company" or "HIVE"), today announced the launch of another NVIDIA Hopper GPU cluster in Quebec - one of three supercomputing clusters it operates across Canada and Sweden. As a NVIDIA Cloud Partner, BUZZ HPC is one of the few Canadian sovereign artificial intelligence ("AI") platforms operating at scale, supporting national innovation through secure, high-performance infrastructure based in Canada. The new cluster featuring NVIDIA Hopper GPUs and scaled with the high-performance NVIDIA Quantum-2 InfiniBand networking platform, is operating near full utilization since launch. BUZZ HPC is rapidly expanding its capacity. Since 2023, BUZZ HPC has been developing its high-performance computing (" HPC") infrastructure in Canada through the establishment of HPC data centres spanning multiple time zones and languages, through its facilities located in the Provinces of Quebec and New Brunswick. Consequently, management believes that it has positioned itself as a key pillar of Canada's AI ecosystem. BUZZ HPC proudly supports a global community including venture-backed startups, universities, and research teams who are advancing the frontiers of AI and HPC applications. BUZZ HPC's customers rely on BUZZ HPC for flexible and scalable on-demand access to GPU clusters, whether by the hour or through long-term fixed contracts. Built for Scale. Proven Experience. Canadian Sovereignty. Our origin as HIVE began with a deployment of approximately 130,000 GPUs in 2018 and has since evolved to operate advanced, large-scale NVIDIA GPU clusters for AI applications, composed of NVIDIA Ampere, NVIDIA Hopper, and very soon, NVIDIA Blackwell GPUs. These GPUs accelerate everything from academic research to enterprise AI applications. Well before the current wave of AI investment, BUZZ HPC was focused on the inclusion of renewable energy and digital services. Its infrastructure supports both early-stage startups and global enterprises, with the benefit of data residency remaining in Canada. "Amid what Management believes is growing demand for domestic AI capacity, this latest cluster supports key sectors such as generative AI, autonomous systems, legal tech, genomic medicine, customer service automation, and research institutions focused on machine learning and health sciences," said Frank Holmes, Executive Chairman of HIVE. Why BUZZ HPC Stands Apart: Sovereign AI Cloud: All infrastructure and data remain within jurisdictions of Canada. AI-Ready Infrastructure: Cutting-edge accelerated computing infrastructure optimized for large-scale AI workloads. Academic & Commercial Focus: Trusted by universities, startups, and enterprise clients. Nationwide Economic Impact: Enabling local innovation with global reach. A Focus on Renewable Energy: BUZZ HPC bridges the gap between AI and renewable energy sources by fueling 100% of its datacenters with hydroelectric power. Supporting Canada's AI Future "BUZZ HPC delivers a sovereign AI solution rooted in Canada-with global capability," said Craig Tavares, President and COO. "We empower Canadian innovators while supporting international partners who share our vision for secure, scalable AI." BUZZ HPC is already driving advancements in AI. Its next-generation infrastructure is a cornerstone of Canada's AI sovereignty and global competitiveness. Through its website, BUZZ HPC is now offering free and subsidized HPC credits to Canadian companies, research institutions, and startups to help reduce the financial and technical barriers to accessing cutting-edge computing power for AI. BUZZ HPC: Canada's AI Cloud. Sovereign. Scalable. Ready. To learn more or partner with BUZZ HPC, visit or contact info@ 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 business goals and objectives, corporate strategies and progress of BUZZ HPC; and other forward-looking information concerning the intentions, plans and future actions of BUZZ HPC and HIVE in general. 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 scale the HPC business of BUZZ HPC on an economic and timely basis and achieve the desired operational performance; a failure to secure long-term contracts associated with HPC customers on terms which are economic or at all; the construction and operation of new BUZZ HPC facilities may not occur as currently planned, or at all; expansion of existing BUZZ HPC facilities may not materialize as currently anticipated, or at all; the volatility of the digital currency market in respect of HIVE's operations; 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; 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 and 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 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.
Yahoo
6 days ago
- Business
- Yahoo
HIVE Digital to Launch Canadian AI Data Hub With 7.2 MW Toronto Site Purchase
HIVE Digital Technologies (HIVE) has signed an agreement to buy a 7.2-megawatt data center in Toronto, Canada, aiming to transform it into a cornerstone for artificial intelligence (AI) infrastructure through its subsidiary BUZZ HPC. The facility is expected to become BUZZ HPC's first Tier 3 data center. It will be upgraded to support liquid cooling and host up to 5,000 next-generation GPUs, enabling large-scale AI model training and inference. The company says the infrastructure will also support Canadian enterprise and government workloads, reinforcing the country's digital sovereignty. 'With the explosion of demand for HPC and AI compute capacity, this Toronto site gives us a critical footprint to develop a sovereign AI data center — owned and operated in Canada by a Canadian public company — ensuring data residency, security, and national innovation leadership,' said Craig Tavares, president and chief operating officer of BUZZ HPC. The move comes amid a global race to build national AI infrastructure, with countries vying for compute capacity to keep up with the breakneck pace of generative AI development. The acquisition also signals BUZZ HPC's first major step into operating its own facility. HIVE, which started as a crypto mining company, continues to shift toward AI and cloud services, with a particular focus on renewable-powered infrastructure. Other bitcoin miners such as Core Scientific (CORZ) have similarly diversified into the AI sector to boost their revenue stream. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
