This press launch constitutes a “designated press launch” for the needs of the Firm’s prospectus complement dated October 3, 2024 to its brief kind base shelf prospectus dated September 11, 2024.
Vancouver, British Columbia and San Antonio, Texas–(Newsfile Corp. – January 2, 2025) – HIVE Digital Applied sciences Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (known as the “Firm” or “HIVE”), a world chief in sustainable blockchain infrastructure, introduced that it has achieved 6.0 Exahashes per second (“EH/s”) of operational hashrate, i.e. a price of 47%. year-on-year development from 4.08 EH/s as of December 31, 2023.
This important milestone was achieved by upgrading the corporate’s mining fleet with state-of-the-art Avalon machines bought from Canaan Inc. (NASDAQ:)., rising each the effectivity and capability of its operations.
Moreover, HIVE is proud to have achieved extremely aggressive vitality costs in Sweden, strengthening its hedged place with electrical energy prices beneath 2 cents per kilowatt hour and highlighting its dedication to bettering operational profitability and profitability .
The Firm plans to attain 15 EH/s of worldwide hashrate capability by the top of 2025, with a blended fleet effectivity of 17 joules per terahash (“J/TH”) following the complete deployment of its strategic hydropower growth of 100 MW in Paraguay.
Government commentary:
Frank Holmes, Government Chairman of HIVE, mentioned: “Having efficiently participated in our second Bitcoin Halving occasion as an organization, HIVE is setting a brand new customary for effectivity and innovation in Bitcoin mining. By optimizing our present fleet and making certain enticing pricing for our operations in Sweden, we’re not solely lowering Bitcoin manufacturing prices, but in addition bettering ROI and paving the way in which for transformative development in 2025.”
About HIVE Digital Applied sciences Ltd.
HIVE Digital Applied sciences Ltd. is a pioneering expertise firm advancing sustainable blockchain and AI infrastructure powered by inexperienced vitality. As the primary cryptocurrency miner to go public on the TSX Enterprise Change in 2017, HIVE has turn out to be a world chief in digital asset mining and AI computing. Current in Canada, Sweden and shortly in Paraguay, HIVE continues to innovate whereas lowering its environmental footprint.
For extra data, go to hivedigitaltech.com or join with us on:
X: https://x.com/HIVEDigitalTech
YouTube: https://www.youtube.com/@HIVEDigitalTech
Instagram: https://www.instagram.com/hivedigitaltechnologies/
LinkedIn: https://linkedin.com/firm/hiveblockchain
On behalf of HIVE Digital Applied sciences Ltd.
“Frank Holmes”
Government Chairman
For extra data, please contact:
Neither the TSX Enterprise Change nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts duty for the adequacy or accuracy of this press launch.
Ahead-looking data
Aside from statements of historic truth, this press launch incorporates “forward-looking data” throughout the which means of relevant securities legal guidelines and rules in Canada and the USA, that are based mostly on expectations, estimates and projections as of the date of this press launch. “Ahead-looking data” contained on this press launch contains, however just isn’t restricted to: the Firm’s enterprise targets and targets; the acquisition, deployment and optimization of the mining fleet and gear; the continued viability of its present Bitcoin mining operations; and different forward-looking data concerning the intentions, plans and future actions of the events to the transactions described herein and the phrases associated thereto.
Components that would trigger precise outcomes to vary materially from these described in such forward-looking data embrace, however are usually not restricted to, volatility within the digital foreign money market; the Firm’s means to efficiently mine digital foreign money; the Firm could not have the ability to profitably liquidate its present digital foreign money stock as required, or in any respect; a big decline within the costs of digital currencies may have a fabric damaging influence on the Firm’s operations; the regulatory atmosphere for cryptocurrencies in Canada, the USA and the international locations the place our mining amenities are situated; financial dependence on regulated circumstances of service and electrical energy charges; the speculative and aggressive nature of the expertise sector; reliance on continued development in the usage of blockchain and cryptocurrencies; lawsuits and different authorized proceedings and challenges; authorities rules; the worldwide financial local weather; dilution; future capital necessities and uncertainty concerning extra financing, together with the Firm’s means to make the most of the Firm’s A™ Program and the costs at which the Firm could promote shares of its widespread inventory beneath the A™ Program, in addition to as monetary market circumstances usually; dangers associated to the technique of sustaining and rising Bitcoin holdings and the influence of Bitcoin value depreciation on working capital; the aggressive nature of the business; foreign money dangers; the necessity for the Firm to handle its anticipated development and growth; the consequences of product growth and the necessity for continued technological change; the flexibility to keep up dependable and economical sources of vitality to handle its cryptocurrency mining property; the influence of vitality reductions or regulatory adjustments in vitality regimes within the jurisdictions by which the Firm operates; safety of property rights; the impact of presidency regulation and compliance on the Firm and the business; community safety dangers; the Firm’s means to keep up correctly functioning programs; the usage of key personnel; deterioration within the international financial system and monetary markets that hinders entry to capital or will increase the price of capital; inventory dilution ensuing from the A™ Program and different inventory issuances; building and operation of the amenities could not happen as at present deliberate, or in any respect; the growth could not materialize as at present deliberate, if in any respect; the digital foreign money market; the flexibility to efficiently mine digital foreign money; revenues could not enhance as at present anticipated, if in any respect; it might not be doable to profitably liquidate the present stock of digital foreign money, if in any respect; a decline within the costs of digital currencies could have a fabric damaging influence on operations; a rise in community issue could have a fabric damaging influence on operations; the volatility of digital foreign money costs; the anticipated development and sustainability of electrical energy for cryptocurrency mining functions in relevant jurisdictions; the lack to keep up dependable and economical sources of vitality for the Firm to function cryptocurrency mining property; dangers of will increase within the Firm’s electrical energy prices, price of electrical energy, adjustments in trade charges, vitality reductions or regulatory adjustments in vitality regimes within the jurisdictions by which the Firm operates and the damaging influence on the profitability of the Firm; the flexibility to finish present and future financing, any rules or legal guidelines that can forestall the Firm from finishing up its actions; historic costs of digital currencies and the flexibility to mine digital currencies that can be in step with historic costs; an lack of ability to foretell and counter the consequences of pandemics on the Firm’s enterprise, together with, however not restricted to, the consequences of pandemics on the worth of digital currencies, capital market circumstances, restrictions on the labor and worldwide journey and provide chains; and the adoption or growth of any regulation or regulation that may forestall the Firm from carrying on its enterprise or make it extra pricey to take action; and different associated dangers, as extra totally mentioned within the Firm’s disclosure paperwork filed at www.sec.gov/EDGAR and www.sedarplus.ca.
The forward-looking data contained on this press launch displays the Firm’s present expectations, assumptions and/or beliefs based mostly on data at present out there to the Firm. In reference to the forward-looking data contained on this press launch, the Firm has made assumptions concerning its targets, targets or future plans, the timing of their achievement and associated issues. The Firm additionally assumed that no materials occasions occurred outdoors the traditional course of its enterprise. Though the Firm believes that the assumptions inherent within the forward-looking data are affordable, forward-looking data just isn’t a assure of future efficiency and, due to this fact, undue reliance shouldn’t be positioned on such data as a result of its inherent uncertainty. The Firm disclaims any intention or obligation to replace or revise any forward-looking data, whether or not on account of new data, future occasions or in any other case, besides as required by regulation.
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