HIVE Digital Announces Closing of $28.75 Million Bought Deal Private Placement Financing to “HODL” Our Bitcoin Production and Expand Green Mining Footprint - Seite 2

(i) the second business day following the date on which a final receipt is obtained from the British Columbia Securities Commission (the “BCSC”), as principal regulator and on behalf of the Ontario Securities Commission, for a (final) short form prospectus qualifying the distribution of the Unit Shares and Warrants to be issued upon exercise of the Special Warrants (the “Qualification Date”); and

(ii) 4:59 p.m. (Toronto time) on April 29, 2024, being the date, which is four months and a day following December 28, 2023 (the “Qualification Deadline”).

In the event the Qualification Date has not occurred on or before February 9, 2024 (the “Penalty Date”), each outstanding Special Warrant shall thereafter entitle the holder to receive, upon the exercise or deemed exercise of each Special Warrant, for no additional consideration, 1.1 Units (the “Penalty Provision”).

The Company anticipates the net proceeds of the Offering will be used to support the growth of its Bitcoin mining footprint, as well as for working capital and general corporate purposes. HIVE also anticipates being able to “HODL” all its Bitcoin until the upcoming Halving.

In consideration for their services, the Underwriters received a cash commission equal to 6.0% of the gross proceeds of the Offering plus that number of broker warrants as is equal to 6.0% of the aggregate number of Special Warrants issued pursuant to the Offering, with each such broker warrant entitling the holder to acquire one (1) common share at a price of CAD$5.00 per common share until December 28, 2026.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

About HIVE Digital Technologies Ltd.

HIVE Digital Technologies Ltd. went public in 2017 as the first cryptocurrency mining company listed for trading on the TSX Venture Exchange with a sustainable green energy focus.

HIVE is a growth-oriented technology stock in the emergent blockchain industry. As a company whose shares trade on a major stock exchange, we are building a bridge between the digital currency and blockchain sector and traditional capital markets. HIVE owns state-of-the-art, green energy-powered data centre facilities in Canada, Sweden, and Iceland, where we endeavour to source green energy to mine digital assets such as Bitcoin on the cloud. Since the beginning of 2021, HIVE has held in secure storage the majority of its treasury of ETH and BTC derived from mining rewards. Our shares provide investors with exposure to the operating margins of digital currency mining, as well as a portfolio of Bitcoin. Because HIVE also owns hard assets such as data centers and advanced multi-use servers, we believe our shares offer investors an attractive way to gain exposure to the cryptocurrency space.