HIVE Digital Technologies Ltd.

HIVE Digital Technologies Ltd. announced the closing of a private offering by its subsidiary, HIVE Bermuda 2026 Ltd., for $130 million aggregate principal amount of 0% exchangeable senior notes due 2031. The offering included the full exercise of the initial purchasers' option for an additional $15 million in notes. The notes are guaranteed by HIVE and will mature on July 1, 2031, with an initial exchange price of $4.83 per common share, representing a 27.5% premium. The company also entered into capped call transactions to minimize dilution, with a cap price of $8.5275 per share, costing approximately $15.7 million. Net proceeds of $124.5 million will be used for general corporate purposes, capital investment, and data center development, particularly for AI and HPC growth.

HIVE Digital Technologies Ltd. announced that its wholly-owned subsidiary, HIVE Bermuda 2026 Ltd., intends to offer US$100 million aggregate principal amount of 0% exchangeable senior notes due 2031 in a private offering. The initial purchasers will also have an option to buy up to an additional US$15 million in notes. The net proceeds are intended for general corporate purposes, capital investment, and data center development, with the notes guaranteed by HIVE Digital Technologies Ltd. The company also plans to enter into capped call transactions to mitigate potential dilution.

HIVE Digital Technologies Ltd. announced it has signed a non-binding Letter of Intent (LOI) with an investment-grade, sovereign Swedish technology company for a long-term co-location lease. The LOI covers HIVE's 32 megawatt Boden, Sweden facility for up to 10 years, with a usable critical IT load of approximately 25 MW. The company plans to retrofit the facility to support up to 10,000 GB300 GPUs and anticipates significant annual recurring revenue from this agreement, which is subject to a definitive contract.

HIVE Digital Technologies Ltd. announced a significant $220 million sovereign AI GPU contract through its subsidiary BUZZ HPC with Bell Canada and Cohere Inc., involving the deployment of 2,304 NVIDIA Grace Blackwell GPUs, expected to add $70 million in annual recurring revenue. Concurrently, HIVE is acquiring a 32 MW data center in Boden, Sweden, solidifying an eight-year partnership and investing over $100 million USD in the region. The company also reported that a Columbia University study validated the performance of its A40 GPUs in Paraguay, matching H100s in specific AI workloads, and provided an update on its 100 MW substation and new Tier-III data center construction in Yguazú, Paraguay. Additionally, HIVE amended its Equity Distribution Agreement, allowing it to sell up to $300 million in common stock.

HIVE Digital Technologies Ltd. is strategically transitioning its business model from primarily hashrate services to an AI and High-Performance Computing (HPC) infrastructure platform, primarily through its subsidiary BUZZ High Performance Computing Inc. The company leverages its existing Tier-I data centers, optimized for energy-efficient mining, to support high-density GPU workloads and aims to become a sovereign AI provider. As of April 30, 2026, HIVE reported a total installed hashrate of approximately 25.2 EH/s and a total power capacity of 464.4 MW across its global facilities.

HIVE Digital Technologies Ltd. announced its full-year financial results for FY2026, reporting a significant 158% increase in total revenue to $297.8 million, driven by strong growth in both digital currency mining and high-performance computing (HPC) hosting services. The company also highlighted the expansion of its HPC business, including the announcement of a major AI Gigafactory project in the Greater Toronto Area. Despite a GAAP net loss, the company reported positive Adjusted EBITDA and improved gross operating margins.

HIVE Digital Technologies Ltd., through its wholly owned subsidiary BUZZ High Performance Computing Inc., announced the acquisition of approximately 25 acres of land in the Greater Toronto Area for a total of $58 million. This contiguous site, benefiting from a 320 MW power allocation, will be developed into an industrial-scale AI infrastructure facility, or "AI gigafactory." The project is expected to become one of Canada's largest, designed to support over 100,000 GPUs at full build-out, with a target online date in the second half of 2027 and a capital investment of approximately CAD $3.5 billion.

HIVE Digital Technologies' subsidiary, BUZZ High Performance Computing, is investing approximately $3.1 million over five years to build a new fiber optic network at its Grand Falls Data Centre in New Brunswick. This upgrade is crucial for transforming the site into a 50 MW Tier III+ AI factory, offering high-capacity optical wavelength services starting Q3 2026. Additionally, HIVE amended its Articles of Incorporation to increase the shareholder meeting quorum to two persons owning at least 33 1/3% of common stock, ensuring compliance with Nasdaq rules.

HIVE Digital Technologies Ltd. announced it has received final approval for the listing of its common shares on the Toronto Stock Exchange (TSX), with trading set to begin on May 12, 2026. Concurrently, the company will be delisted from the TSX Venture Exchange. Additionally, HIVE provided an update on its at-the-market (ATM) offering, reporting the issuance of 14,983,561 common shares for gross proceeds of $41.1 million during the three months ended March 31, 2026.

HIVE Digital Technologies' wholly-owned subsidiary, HIVE Bermuda 2026 Ltd., issued $115 million in 0% exchangeable senior notes due 2031. The notes are fully and unconditionally guaranteed by HIVE Digital Technologies and will mature on April 15, 2031. Holders can exchange notes for cash, common shares, or a combination, at the Issuer's election, with an initial exchange price of approximately $2.57 per share.