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San Antonio, Texas, November 17, 2025 — HIVE Digital Technologies Ltd. (TSX.V: HIVE)(Nasdaq: HIVE) (FSE: YO0) (the “Company” or “HIVE”), a diversified multinational digital infrastructure company, through its wholly owned subsidiary BUZZ High Performance Computing (“BUZZ”), today announced an agreement with Dell Technologies to deploy its next wave of AI Infrastructure (all amounts in US dollars, unless otherwise indicated).
Additionally, BUZZ and HIVE are pleased to announce the operating agreements are executed for the commencement of the first phase of the BUZZ and Bell AI Fabric deployment.
BUZZ will be deploying a 63 node cluster of liquid-cooled Dell PowerEdge XE9680L servers operating 504 of the latest generation GPUs optimized for AI compute, delivered through Dell Integrated Rack Scalable Systems (IRSS). Delivery and installation of the fully-integrated Dell IR5000 racks will be in the Bell AI Fabric data center. This builds on BUZZ’s existing partnership with Bell, enabling the expansion of its sovereign AI Cloud.
Scaling for the AI Future
BUZZ recently achieved Bronze status in the Semi-Analysis ClusterMax™ rankings—surpassing numerous publicly traded peers in the AI cloud sector and validating its technical leadership.
In addition to the Bell AI Fabric facility, BUZZ has proprietary high-efficiency liquid-cooled data center designs in Canada and Sweden, and BUZZ is procuring long-lead components for go-live in the second half of calendar 2026. Each Canadian and Swedish site, alongside the Bell AI Fabric facility, will support 2,000 additional latest generation GPUs to expand the BUZZ AI Cloud for 2026.
In total, BUZZ targets a fleet of over 6,000 latest generation GPUs for AI cloud by the end of2026. This is projected to generate an additional $120 million in annual run-rate revenue (“ARR”), with an operating margin of 80% after electrical and datacenter costs, for BUZZ’s AI Cloud business once deployed.
This estimated increase is in addition to the Company’s current $20 million ARR.
Combined with over 5,000 GPUs already in operation, this would bring the BUZZ AI Cloud to a total of over 11,000 GPUs by the end of 2026.
Furthermore, the HIVE 70 megawatt (“MW”) operation Tier I data center in Grand Falls, New Brunswick, with 32.5 acres of land enables BUZZ to upgrade the facility for hyperscaler colocation in a Tier III+ (PUE <1.3) data center, which can provide capacity for over 25,000 latest generation GPUs, based on reference architecture.
BUZZ’s HPC capacity footprint is positioned to make major contributions to advancing Canada’s position in the global AI race.
* As used herein, “Operating Margin” is calculated by dividing the HPC profit (revenue generated from HPC activities minus electrical and data center costs related to those activities) by the total revenue generated from HPC activities and expressed as a percentage. “ARR”, as a metric, represents revenue only, and does not represent profitability. ARR is presented here as a measure of growth. These non-GAAP measures should be read in conjunction with and should not be viewed as alternatives to or replacements for measures of operating results and liquidity presented in accordance with GAAP in HIVE’s quarterly and annual financial statements. All financial projections reflect current market sentiment and public disclosures as of September 2025; actual outcomes may vary. Investors should conduct their own due diligence.
About HIVE Digital Technologies Ltd.
Founded in 2017, HIVE Digital Technologies Ltd.is the first publicly listed company to mine digital assets powered exclusively by green energy. Today, HIVE builds and operates next-generation blockchain and AI data centers across Canada, Sweden, and Paraguay, serving both blockchain and high-performance computing (HPC) clients. HIVE’s twin-turbo engine infrastructure—driven by blockchain and accelerated AI computing—delivers scalable, environmentally responsible solutions for the digital economy.
About BUZZ High Performance Computing
BUZZ, a wholly owned subsidiary of HIVE, specializes in AI Cloud and HPC data center services. With facilities in North America and Europe, BUZZ is engineered to support Canada’s ambition in the global AI economy.