This information launch constitutes a “designated information launch” for functions of the Firm's amended and restated prospectus complement dated August 17, 2023 to its quick type base stock prospectus dated Could 1, 2023.

HIVE Digital Applied sciences Ltd. (HIVE) proudly releases its unaudited manufacturing figures for Could 2024. In Could, the corporate mined 119 Bitcoin, growing its Bitcoin holdings by 3%, for a complete of two,451 Bitcoin now on its steadiness sheet. HIVE maintained a median Bitcoin mining capability of over 4.9 Exahashes (“EH/s”) in Could 2024 (All quantities are in US {Dollars} until in any other case said.).

Could 2024 highlights:

• manufacturing: In Could 2024, 119 Bitcoins have been mined.
• Elevated mining capability: We ended Could with 5.0 EH/s of ASIC mining capability.
• HODL Place: It elevated 3% from the earlier month to 2,451 BTC as Bitcoin hit a brand new all-time excessive.
• Mining Effectivity: We achieved a median of 24.5 Bitcoins per exahash, ending Could at 5.0 EH/s. The common hashrate for the entire of Could was 4.9 EH/s.
• Every day manufacturing: We achieved a median manufacturing of three.8 BTC per day, demonstrating operational effectivity and powerful mining capability.

Strategic HODL Enhance:

As of June 9, 2024, HIVE's HODL place has additional elevated to 2,468 BTC from 2,451 BTC on the finish of Could 2024.

The corporate factors out that with Bitcoin HODL worth exceeding $170 million as of June 9, 2024, the corporate's valuation may be very enticing in comparison with its friends.

Government Insights:

Commenting on the corporate's strategic imaginative and prescient, Chairman of the Board Frank Holmes mentioned:

“We now have overcome quite a few challenges over the previous 4 years and efficiently weathered the second Bitcoin halving occasion. Our group has demonstrated distinctive abilities in driving excessive efficiencies and retaining working money move constructive, even amid the 2022 market downturn and Ethereum's unlucky transition from Proof of Work to Proof of Stake. Regardless of important macroeconomic headwinds, HIVE has remained resilient and constantly generated constructive working margins. We proceed to guage progress alternatives with a deal with lean operations, worthwhile mining, important inexperienced vitality sourcing, and maximizing return on invested capital per share (CFROIC) for our shareholders. I’m extraordinarily happy with our group and their unwavering dedication.”

Operational Updates:

President and CEO Aydin Kilic highlighted the corporate's technological stability, stating: “We completed Could at 5.0 EH/s and are on observe to attain our intermediate purpose of 5.5 EH/s and a worldwide common fleet effectivity of 25 Joules per Terahash (J/TH) as soon as the remaining S21 Antminers (“S21″) are shipped. To this point, 6,495 S21s have been shipped and put in out of a complete order of 8,165 S21s. Of the remaining 1,670 S21s, 428 S21s have been shipped this week and the remaining 1,242 S21s from the June batch are anticipated to ship shortly.”

We now have additionally strategically optimized the firmware in our fleet to enhance the effectivity of our 30 J/TH ASICs and convey them beneath 30 J/TH in effectivity, which has lowered the full hashrate of those machines throughout the fleet by roughly 120 petahashes per second, however has elevated effectivity, improved unit economics, and elevated profitability in {dollars} per kilowatt-hour.

Chief Working Officer Luke Rossy added: “We’re happy to announce the acquisition of 1,000 Bitmain S21 Professional Antminers, the latest and most effective machines in the marketplace, with a hashrate of 234 terahashes per second and effectivity of 15 J/TH. These items are attributable to ship this month and are integral to our technique of frequently upgrading our fleet whereas increasing our HODL positions.”