<SEC-DOCUMENT>0001062993-25-016315.txt : 20251028
<SEC-HEADER>0001062993-25-016315.hdr.sgml : 20251028
<ACCEPTANCE-DATETIME>20251028075440
ACCESSION NUMBER:		0001062993-25-016315
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		9
CONFORMED PERIOD OF REPORT:	20251021
FILED AS OF DATE:		20251028
DATE AS OF CHANGE:		20251028

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HIVE Digital Technologies Ltd.
		CENTRAL INDEX KEY:			0001720424
		STANDARD INDUSTRIAL CLASSIFICATION:	FINANCE SERVICES [6199]
		ORGANIZATION NAME:           	09 Crypto Assets
		EIN:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-40398
		FILM NUMBER:		251421464

	BUSINESS ADDRESS:	
		STREET 1:		370-1095 WEST PENDER STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6E 2M6
		BUSINESS PHONE:		(604) 664-1078

	MAIL ADDRESS:	
		STREET 1:		370-1095 WEST PENDER STREET
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6E 2M6

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HIVE Blockchain Technologies Ltd.
		DATE OF NAME CHANGE:	20171023
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>form6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<html>

<head>
    <title>HIVE Digital Technologies Ltd.: Form 6-K - Filed by newsfilecorp.com</title>
</head>

<body style="font-size:10pt; font-family:'Times New Roman';">
    <hr width="100%" size="3" color="black" noshade="noshade"><a name="page_1"></a>
    <p style="text-align: center; margin-top: 10pt; margin-bottom: 10pt;"><font style="font-size: 18pt;"><b>UNITED STATES</b></font><br><font style="font-size: 18pt;"><b>SECURITIES AND EXCHANGE COMMISSION</b></font><br><b>Washington, D.C. 20549</b></p>
    <p style="text-align: center; margin-top: 10pt; margin-bottom: 10pt;"><font style="font-size: 18pt;"><b>FORM 6-K</b></font></p>
    <p style="text-align: center; margin-top: 10pt; margin-bottom: 10pt;">REPORT OF FOREIGN PRIVATE ISSUER<br>PURSUANT TO RULE 13a-16 OR 15d-16<br>UNDER THE SECURITIES EXCHANGE ACT OF 1934</p>
    <p style="text-align: center; margin-top: 10pt; margin-bottom: 10pt;">For the month of<u><b> October, 2025</b></u></p>
    <p style="text-align: center; margin-top: 10pt; margin-bottom: 10pt;">Commission File Number: <u><b>001-40398</b></u></p>
    <p style="text-align: center; margin-top: 10pt; margin-bottom: 10pt;"><font style="font-size: 18pt;"><u><b>HIVE Digital Technologies Ltd.</b></u></font><br>(Translation of registrant's name into English)</p>
    <p style="text-align: center; margin-top: 10pt; margin-bottom: 10pt;"><u><b>British Columbia, Canada</b></u><br>(Jurisdiction of incorporation or organization)</p>
    <p style="margin-bottom: 0pt; text-align: center; margin-top: 10pt;"><b>Suite 128, 7900 Callaghan Road </b></p>
    <p style="margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>San Antonio, Texas 78229 United States of America</b></p>
    <p style="margin-top: 0pt; text-align: center; margin-bottom: 10pt;">(Address of principal executive office)</p>
    <p style="text-align: center; margin-top: 10pt; margin-bottom: 10pt;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:</p>
    <p style="text-align: center; margin-top: 10pt; margin-bottom: 10pt;">[&#160; ] Form 20-F&#160; &#160; &#160; [X] Form 40-F</p>
    <p style="text-align: center; margin-top: 10pt; margin-bottom: 10pt;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [&#160; ]</p>
    <p style="text-align: center; margin-top: 10pt; margin-bottom: 10pt;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [&#160; ]</p>
    <hr style="page-break-after: always; text-align: center;" width="100%" size="5" color="black" noshade="noshade"><a name="page_2"></a>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Exhibits 99.1, 99.2, 99.3 and 99.4 are incorporated by reference into the Registration Statement on Form F-10 of the Registrant, which was originally filed with the Securities and Exchange Commission on September 30, 2024 (File No. 333-282395), as amended or supplemented.</p>
    <p style="text-align: center; margin-top: 10pt; margin-bottom: 10pt;"><b>EXHIBIT INDEX</b></p>
    <table style="width: 100%; border-collapse: collapse; font-size: 10pt;" cellspacing="0" cellpadding="0">
        <tr>
            <td style="width: 7.24%; vertical-align: top; background-color: #eeeeee;">
                <p style="text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><a href="exhibit99-1.htm">99.1</a></p>
            </td>
            <td style="vertical-align: top; background-color: #eeeeee;">
                <p style="text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><a href="exhibit99-1.htm">News Release dated October 21, 2025</a></p>
            </td>
        </tr>
        <tr>
            <td style="width: 7.24%; vertical-align: top;">
                <p style="text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><a href="exhibit99-2.htm">99.2</a></p>
            </td>
            <td style="vertical-align: top;">
                <p style="text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><a href="exhibit99-2.htm">Material Change Report dated October 21, 2025</a></p>
            </td>
        </tr>
        <tr>
            <td style="width: 7.24%; vertical-align: top; background-color: #eeeeee;">
                <p style="text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><a href="exhibit99-3.htm">99.3</a></p>
            </td>
            <td style="vertical-align: top; background-color: #eeeeee;">
                <p style="text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><a href="exhibit99-3.htm">News Release dated October 27, 2025</a></p>
            </td>
        </tr>
        <tr>
            <td style="width: 7.24%; vertical-align: top;">
                <p style="text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><a href="exhibit99-4.htm">99.4</a></p>
            </td>
            <td style="vertical-align: top;">
                <p style="text-align: justify; margin-top: 0pt; margin-bottom: 0pt;"><a href="exhibit99-4.htm">Material Change Report dated October 27, 2025</a></p>
            </td>
        </tr>
    </table>
    <p style="text-align: center; margin-top: 10pt; margin-bottom: 10pt;"><b>SIGNATURES</b></p>
    <table style="width: 100%; border-collapse: collapse; font-size: 10pt;" border="0" cellspacing="0" cellpadding="0">
        <tr>
            <td style="width: 50%;">&#160;</td>
            <td style="width: 5%;" colspan="2"><b>HIVE DIGITAL TECHNOLOGIES LTD.</b></td>
        </tr>
        <tr>
            <td style="width: 50%;">&#160;</td>
            <td style="width: 5%;">&#160;</td>
            <td style="width: 45%;">&#160;</td>
        </tr>
        <tr>
            <td style="width: 50%;">&#160;</td>
            <td style="width: 5%;">By:</td>
            <td style="width: 45%;"><u>/s/ Darcy Daubaras</u></td>
        </tr>
        <tr>
            <td style="width: 50%;">&#160;</td>
            <td style="width: 5%;">Name:</td>
            <td style="width: 45%;">Darcy Daubaras</td>
        </tr>
        <tr>
            <td style="width: 50%;">&#160;</td>
            <td style="width: 5%;">Title:</td>
            <td style="width: 45%;">Chief Financial Officer</td>
        </tr>
    </table>
    <p style="text-align: center; margin-top: 10pt; margin-bottom: 10pt;">&#160;</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Date: October 27, 2025</p>
    <hr width="100%" size="5" color="black" noshade="noshade">
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>exhibit99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>

<head>
    <title>HIVE Digital Technologies Ltd.: Exhibit 99.1 - Filed by newsfilecorp.com</title>
</head>

<body style="font-size:10pt; font-family:'Times New Roman';">
    <hr width="100%" size="3" color="black" noshade="noshade"><a name="page_1"></a>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><font style="font-size: 12pt;"><b>HIVE Digital Technologies Targets 35 EH/s in 2026 with Newly Signed 100 MW Hydroelectric Expansion in Paraguay and a 5x Growth in HPC and AI Operations Through Strategic Partnerships with Bell Canada</b></font></p>
    <p style="text-align: center; margin-left: 18.75pt; margin-top: 10pt; margin-bottom: 10pt;"><i>This news release constitutes a "designated news release" for the purposes of the Company's <br>amended and restated prospectus supplement dated May 14, 2025, to its short form base shelf <br>prospectus dated September 11, 2024.</i></p>
    <p style="text-align: justify; margin-bottom: 0pt; margin-top: 10pt;">San Antonio, Texas--(Newsfile Corp. - October 21, 2025) - HIVE Digital Technologies Ltd. (TSXV: HIVE)&#160;(NASDAQ: HIVE) (FSE: YO0) (the "Company" or "HIVE"), a diversified leader in sustainable blockchain and artificial intelligence ("AI") infrastructure, today announced it has signed a definitive agreement to develop an additional 100 megawatt ("MW") hydroelectric-powered data-center campus at its Yguaz&#250; site in Paraguay.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">This Phase 3 expansion will increase HIVE's total renewable capacity in Paraguay to 400 MW. Management expects this addition, also powered by renewable hydroelectric energy from the Itaip&#250; Dam, to be the largest facility of its kind in Paraguay, and to increase HIVE's global Bitcoin target to 35 Exahash per second ("EH/s") for 2026.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Strategic Expansion in Paraguay</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Phase 3 follows the successful completion of <font style="color: #0000ee;"><u>Phase 1</u></font> (April 2025) and <font style="color: #0000ee;"><u>Phase 2</u></font> (September 2025), bringing Yguaz&#250; to its designed 300 MW capacity powered by clean hydro electricity from the Itaip&#250; Dam.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">With civil and electrical infrastructure already engineered for 300 MW, construction of Phase 3 will begin in early 2026, with full commissioning targeted for Q3 2026. Once complete, HIVE's total renewable infrastructure footprint will reach 540 MW across three countries-400 MW in Paraguay and 140 MW across Canada and Sweden.</p>
    <p style="text-align: justify; margin-bottom: 0pt; margin-top: 10pt;">Frank Holmes, HIVE's Executive Chairman, commented: "Our expansion in Paraguay reinforces HIVE's</p>
    <p style="text-align: justify; margin-top: 0pt; margin-bottom: 10pt;">long-term vision: scaling sustainable, low-cost digital infrastructure powered entirely by renewable energy. Operating across nine time zones, five languages, and three nations, HIVE continues to execute with efficiency, innovation, and first-mover advantage. We've scaled Bitcoin mining from 6 EH/s at the start of the year to nearly 22 EH/s today, on track to reach 25 EH/s by year-end. With the advent of next generation ASIC miners, this additional 100 MW provides a path to a potential 35 EH/s in 2026-a milestone that reflects both our operational excellence and our global growth ambition."</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Aydin Kilic, President &amp; CEO, added: "This expansion strengthens both engines of our business model. Tier 1 Bitcoin mining drives robust cash flow and network share, while Tier 3 high-performance computing ("HPC") and AI-our BUZZ HPC division-builds diversified growth in next-generation computing. Led by Craig Tavares, BUZZ HPC is our center of excellence for sovereign AI cloud and GPU-accelerated workloads, developing Tier 3+ liquid-cooled data centers purpose-built for AI model training, inference, and scientific computing. Our strategic partnership with Bell Canada, through the Bell AI Fabric initiative, integrates BUZZ's AI infrastructure with Bell's national fiber network and data-centers to deliver one of Canada's most advanced sovereign AI ecosystems. This collaboration enables government, enterprise, and research clients to securely access BUZZ's GPU compute clusters all powered by clean energy. Through this partnership and our Toronto buildout, we expect to 5x our HPC capacity in 2026. HIVE's turbo-charged twin-engine model-Tier 1 for Bitcoin, Tier 3 for AI-positions us as a global digital-infrastructure leader at the intersection of blockchain and artificial intelligence."</p>
    <hr style="page-break-after: always;" width="100%" size="5" color="black" noshade="noshade"><a name="page_2"></a>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Gabriel Lamas, Country President of HIVE Paraguay, stated: "This additional 100 MW expansion brings Yguaz&#250; to full design capacity. Our engineering teams are ready-civil works and substation pads are complete. This milestone strengthens Paraguay's position as a regional hub for clean energy innovation and underscores HIVE's role as a trusted infrastructure partner in Latin America."</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>2026 Strategic Outlook</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">In 2026, HIVE expects to continue scaling both its Tier 1 Bitcoin and Tier 3 HPC divisions.</p>
    <ul>
        <li style="text-align: justify;"><b>Bitcoin Operations: </b>Targeting &gt; 35 EH/s global capacity, supported by next-generation ASIC technology and low-cost renewable power.</li>
        <li style="text-align: justify;"><b>HPC &amp; AI Cloud: </b>Targeting 5x processing growth, enabling large-language-model training, AI inference services, and sovereign AI compute for Canadian institutions and enterprise clients.</li>
    </ul>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Backed by strategic partnerships, renewable energy assets, and a proven record of operational excellence, HIVE Digital Technologies is uniquely positioned to lead the next era of sustainable digital infrastructure.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>About HIVE Digital Technologies Ltd.</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">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 Bitcoin and high- performance computing (HPC) clients. HIVE's twin-turbo engine infrastructure-driven by Bitcoin mining and NVIDIA GPU-accelerated AI computing-delivers scalable, environmentally responsible solutions for the digital economy.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">For more information, visit <font style="color: #0000ee;"><u>hivedigitaltech.com</u></font>, or connect with us on:</p>
    <p style="text-align: justify; margin-bottom: 0pt; margin-top: 10pt;">X: <u><font style="color: #0000ee;"><font style="color: #0000ee;">https://x.com/HIVEDigitalTech</font></font></u></p>
    <p style="text-align: justify; margin-top: 0pt; margin-bottom: 0pt;">YouTube: <font style="color: #0000ee;"><font style="color: #0000ee;"><u>https://www.youtube.com/@HIVEDigitalTech</u></font></font></p>
    <p style="text-align: justify; margin-top: 0pt; margin-bottom: 0pt;">Instagram: <font style="color: #0000ee;"><font style="color: #0000ee;"><u>https://www.instagram.com/hivedigitaltechnologies/</u></font></font></p>
    <p style="text-align: justify; margin-top: 0pt; margin-bottom: 10pt;">LinkedIn: <font style="color: #0000ee;"><font style="color: #0000ee;"><u>https://linkedin.com/company/hiveblockchain</u></font></font></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">On Behalf of HIVE Digital Technologies Ltd.</p>
    <p style="text-align: justify; margin-bottom: 0pt; margin-top: 10pt;"><i>"Frank Holmes"</i></p>
    <p style="text-align: justify; margin-top: 0pt; margin-bottom: 10pt;">Executive Chairman</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">For further information, please contact:</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Nathan Fast, Director of Marketing and Branding</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Frank Holmes, Executive Chairman</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Aydin Kilic, President &amp; CEO</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Tel: (604) 664-1078</p>
    <p style="text-align: justify; margin-bottom: 0pt; margin-top: 10pt;"><i>Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.</i></p>
    <hr style="page-break-after: always;" width="100%" size="5" color="black" noshade="noshade"><a name="page_3"></a>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><i><b>Forward-Looking Information</b></i></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><i>Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian and United States securities legislation and regulations that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes but is not limited to: the performance of the Comp[any's existing operations, the construction of the Company's facility in Yguazu, Paraguay and its potential specifications and performance upon completion, the timing of it becoming operational; business goals and objectives of the Company; the acquisition, deployment and optimization of the mining fleet and equipment; the continued viability of its existing Bitcoin mining operations; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.</i></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><i>Factors that could cause actual results to differ materially from those described in such forward- looking information include, but are not limited to: the inability to complete the construction of the Paraguay acquisition on an economic and timely basis and achieve the desired operational performance; the ongoing support and cooperation of local authorities and the Government of Paraguay; the volatility of the digital currency market; the Company's ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company's operations; the regulatory environment for cryptocurrency in Canada, the United States and the countries where our mining facilities are located; economic dependence on regulated terms of service and electricity rates; the speculative and competitive nature of the technology sector; dependency on continued growth in blockchain and cryptocurrency usage; lawsuits and other legal proceedings and challenges; government regulations; the global economic climate; dilution; future capital needs and uncertainty of additional financing, including the Company's ability to utilize the Company's ATM Program and the prices at which the Company may sell Common Shares in the ATM Program, as well as capital market conditions in general; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the need for continued technology change; the ability to maintain reliable and economical sources of power to run its cryptocurrency mining assets; the impact of energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; share dilution resulting from the ATM Program and from other equity issuances; the construction and operation of facilities may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of electricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power for the Company to operate cryptocurrency mining assets; the risks of an increase in the Company's electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and the adverse impact on the Company's profitability; the ability to complete current and future financings, any regulations or laws that will prevent the Company from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; an inability to predict and counteract the effects of pandemics on the business of the Company, including but not limited to the effects of pandemics on the price of digital currencies, capital market conditions, restriction on labour and international travel and supply chains; and, the adoption or expansion of any regulation or lawthat will prevent the Company from operating its business, or make it more costly to do so; and other related risks as more fully set out in the Company's disclosure documents under the Company's filings at <font style="color: #0000ee;"><u>www.sec.gov/EDGAR</u></font> and <font style="color: #0000ee;"><u>www.sedarplus.ca</u></font>.</i></p>
    <hr style="page-break-after: always;" width="100%" size="5" color="black" noshade="noshade"><a name="page_4"></a>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><i>The forward-looking information in this news release reflects the Company's current expectations, assumptions, and/or beliefs based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's objectives, goals or future plans, the timing thereof and related matters. The Company has also assumed that no significant events will occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance, and accordingly, undue reliance should not be put on such information due to its inherent uncertainty. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of newinformation, future events or otherwise, other than as required by law.</i></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><i><img src="exhibit99-1x4x1.jpg"></i></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">To view the source version of this press release, please visit <br><font style="color: #0000ee;"><u>https://www.newsfilecorp.com/release/271124</u></font></p>
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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>exhibit99-2.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
<html>

<head>
    <title>HIVE Digital Technologies Ltd.: Exhibit 99.2 - Filed by newsfilecorp.com</title>
</head>

<body style="font-size:10pt; font-family:'Times New Roman';">
    <hr width="100%" size="3" color="black" noshade="noshade"><a name="page_1"></a>
    <p style="margin-bottom: 0pt; text-align: center; margin-top: 10pt;"><b>FORM 51-102F3</b></p>
    <p style="margin-top: 0pt; text-align: center; margin-bottom: 10pt;"><b>MATERIAL CHANGE REPORT</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Item 1<font style="display: inline-block; width: 20pt;">&#160;</font>Name and Address of Company</b></p>
    <p style="text-align: justify; margin-bottom: 0pt; margin-top: 10pt;">HIVE Digital Technologies Ltd. ("HIVE" or the "Company")</p>
    <p style="text-align: justify; margin-top: 0pt; margin-bottom: 0pt;">#128, 7900 Callaghan Road</p>
    <p style="text-align: justify; margin-top: 0pt; margin-bottom: 10pt;">San Antonio, Texas 78229</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Item 2<font style="display: inline-block; width: 20pt;">&#160;</font>Date of Material Change</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">October 21, 2025.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Item 3<font style="display: inline-block; width: 20pt;">&#160;</font>News Release</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">The press release attached as Schedule "A" was released on October 21, 2025 by a newswire company in Canada.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Item 4<font style="display: inline-block; width: 20pt;">&#160;</font>Summary of Material Change</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">The material change is described in the press release attached as Schedule "A".</p>
    <p style="text-align: left; margin-top: 10pt; margin-bottom: 10pt;"><b>Item 5<font style="display: inline-block; width: 20pt;">&#160;</font></b><b>Full Description of Material Change</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">The material change is described in the press release attached as Schedule "A".</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Item 6<font style="display: inline-block; width: 20pt;">&#160;</font>Reliance of subsection 7.1(2) of National Instrument 51-102</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Not applicable.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Item 7<font style="display: inline-block; width: 20pt;">&#160;</font>Omitted Information</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Not applicable.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Item 8<font style="display: inline-block; width: 20pt;">&#160;</font>Executive Officer</b></p>
    <p style="text-align: justify; margin-bottom: 0pt; margin-top: 10pt;">Darcy Daubaras</p>
    <p style="text-align: justify; margin-top: 0pt; margin-bottom: 0pt;">Chief Financial Officer</p>
    <p style="text-align: justify; margin-top: 0pt; margin-bottom: 10pt;">T: 604-664-1078</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Item 9 Date of Report</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">October 21, 2025.</p>
    <hr style="page-break-after: always;" width="100%" size="5" color="black" noshade="noshade"><a name="page_2"></a>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><font style="font-size: 12pt;"><b>HIVE Digital Technologies Targets 35 EH/s in 2026 with Newly Signed 100 MW Hydroelectric Expansion in Paraguay and a 5x Growth in HPC and AI Operations Through Strategic Partnerships with Bell Canada</b></font></p>
    <p style="text-align: center; margin-left: 18.75pt; margin-top: 10pt; margin-bottom: 10pt;"><i>This news release constitutes a "designated news release" for the purposes of the Company's <br>amended and restated prospectus supplement dated May 14, 2025, to its short form base shelf <br>prospectus dated September 11, 2024.</i></p>
    <p style="text-align: justify; margin-bottom: 0pt; margin-top: 10pt;">San Antonio, Texas--(Newsfile Corp. - October 21, 2025) - HIVE Digital Technologies Ltd. (TSXV: HIVE)&#160;(NASDAQ: HIVE) (FSE: YO0) (the "Company" or "HIVE"), a diversified leader in sustainable blockchain and artificial intelligence ("AI") infrastructure, today announced it has signed a definitive agreement to develop an additional 100 megawatt ("MW") hydroelectric-powered data-center campus at its Yguaz&#250; site in Paraguay.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">This Phase 3 expansion will increase HIVE's total renewable capacity in Paraguay to 400 MW. Management expects this addition, also powered by renewable hydroelectric energy from the Itaip&#250; Dam, to be the largest facility of its kind in Paraguay, and to increase HIVE's global Bitcoin target to 35 Exahash per second ("EH/s") for 2026.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Strategic Expansion in Paraguay</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Phase 3 follows the successful completion of <font style="color: #0000ee;"><u>Phase 1</u></font> (April 2025) and <font style="color: #0000ee;"><u>Phase 2</u></font> (September 2025), bringing Yguaz&#250; to its designed 300 MW capacity powered by clean hydro electricity from the Itaip&#250; Dam.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">With civil and electrical infrastructure already engineered for 300 MW, construction of Phase 3 will begin in early 2026, with full commissioning targeted for Q3 2026. Once complete, HIVE's total renewable infrastructure footprint will reach 540 MW across three countries-400 MW in Paraguay and 140 MW across Canada and Sweden.</p>
    <p style="text-align: justify; margin-bottom: 0pt; margin-top: 10pt;">Frank Holmes, HIVE's Executive Chairman, commented: "Our expansion in Paraguay reinforces HIVE's</p>
    <p style="text-align: justify; margin-top: 0pt; margin-bottom: 10pt;">long-term vision: scaling sustainable, low-cost digital infrastructure powered entirely by renewable energy. Operating across nine time zones, five languages, and three nations, HIVE continues to execute with efficiency, innovation, and first-mover advantage. We've scaled Bitcoin mining from 6 EH/s at the start of the year to nearly 22 EH/s today, on track to reach 25 EH/s by year-end. With the advent of next generation ASIC miners, this additional 100 MW provides a path to a potential 35 EH/s in 2026-a milestone that reflects both our operational excellence and our global growth ambition."</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Aydin Kilic, President &amp; CEO, added: "This expansion strengthens both engines of our business model. Tier 1 Bitcoin mining drives robust cash flow and network share, while Tier 3 high-performance computing ("HPC") and AI-our BUZZ HPC division-builds diversified growth in next-generation computing. Led by Craig Tavares, BUZZ HPC is our center of excellence for sovereign AI cloud and GPU-accelerated workloads, developing Tier 3+ liquid-cooled data centers purpose-built for AI model training, inference, and scientific computing. Our strategic partnership with Bell Canada, through the Bell AI Fabric initiative, integrates BUZZ's AI infrastructure with Bell's national fiber network and data-centers to deliver one of Canada's most advanced sovereign AI ecosystems. This collaboration enables government, enterprise, and research clients to securely access BUZZ's GPU compute clusters all powered by clean energy. Through this partnership and our Toronto buildout, we expect to 5x our HPC capacity in 2026. HIVE's turbo-charged twin-engine model-Tier 1 for Bitcoin, Tier 3 for AI-positions us as a global digital-infrastructure leader at the intersection of blockchain and artificial intelligence."</p>
    <hr style="page-break-after: always;" width="100%" size="5" color="black" noshade="noshade"><a name="page_3"></a>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Gabriel Lamas, Country President of HIVE Paraguay, stated: "This additional 100 MW expansion brings Yguaz&#250; to full design capacity. Our engineering teams are ready-civil works and substation pads are complete. This milestone strengthens Paraguay's position as a regional hub for clean energy innovation and underscores HIVE's role as a trusted infrastructure partner in Latin America."</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>2026 Strategic Outlook</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">In 2026, HIVE expects to continue scaling both its Tier 1 Bitcoin and Tier 3 HPC divisions.</p>
    <ul>
        <li style="text-align: justify;"><b>Bitcoin Operations: </b>Targeting &gt; 35 EH/s global capacity, supported by next-generation ASIC technology and low-cost renewable power.</li>
        <li style="text-align: justify;"><b>HPC &amp; AI Cloud: </b>Targeting 5x processing growth, enabling large-language-model training, AI inference services, and sovereign AI compute for Canadian institutions and enterprise clients.</li>
    </ul>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Backed by strategic partnerships, renewable energy assets, and a proven record of operational excellence, HIVE Digital Technologies is uniquely positioned to lead the next era of sustainable digital infrastructure.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>About HIVE Digital Technologies Ltd.</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">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 Bitcoin and high- performance computing (HPC) clients. HIVE's twin-turbo engine infrastructure-driven by Bitcoin mining and NVIDIA GPU-accelerated AI computing-delivers scalable, environmentally responsible solutions for the digital economy.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">For more information, visit <font style="color: #0000ee;"><u>hivedigitaltech.com</u></font>, or connect with us on:</p>
    <p style="text-align: justify; margin-bottom: 0pt; margin-top: 10pt;">X: <u><font style="color: #0000ee;"><font style="color: #0000ee;">https://x.com/HIVEDigitalTech</font></font></u></p>
    <p style="text-align: justify; margin-top: 0pt; margin-bottom: 0pt;">YouTube: <font style="color: #0000ee;"><font style="color: #0000ee;"><u>https://www.youtube.com/@HIVEDigitalTech</u></font></font></p>
    <p style="text-align: justify; margin-top: 0pt; margin-bottom: 0pt;">Instagram: <font style="color: #0000ee;"><font style="color: #0000ee;"><u>https://www.instagram.com/hivedigitaltechnologies/</u></font></font></p>
    <p style="text-align: justify; margin-top: 0pt; margin-bottom: 10pt;">LinkedIn: <font style="color: #0000ee;"><font style="color: #0000ee;"><u>https://linkedin.com/company/hiveblockchain</u></font></font></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">On Behalf of HIVE Digital Technologies Ltd.</p>
    <p style="text-align: justify; margin-bottom: 0pt; margin-top: 10pt;"><i>"Frank Holmes"</i></p>
    <p style="text-align: justify; margin-top: 0pt; margin-bottom: 10pt;">Executive Chairman</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">For further information, please contact:</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Nathan Fast, Director of Marketing and Branding</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Frank Holmes, Executive Chairman</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Aydin Kilic, President &amp; CEO</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Tel: (604) 664-1078</p>
    <p style="text-align: justify; margin-bottom: 0pt; margin-top: 10pt;"><i>Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.</i></p>
    <hr style="page-break-after: always;" width="100%" size="5" color="black" noshade="noshade"><a name="page_4"></a>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><i><b>Forward-Looking Information</b></i></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><i>Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian and United States securities legislation and regulations that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes but is not limited to: the performance of the Comp[any's existing operations, the construction of the Company's facility in Yguazu, Paraguay and its potential specifications and performance upon completion, the timing of it becoming operational; business goals and objectives of the Company; the acquisition, deployment and optimization of the mining fleet and equipment; the continued viability of its existing Bitcoin mining operations; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.</i></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><i>Factors that could cause actual results to differ materially from those described in such forward- looking information include, but are not limited to: the inability to complete the construction of the Paraguay acquisition on an economic and timely basis and achieve the desired operational performance; the ongoing support and cooperation of local authorities and the Government of Paraguay; the volatility of the digital currency market; the Company's ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company's operations; the regulatory environment for cryptocurrency in Canada, the United States and the countries where our mining facilities are located; economic dependence on regulated terms of service and electricity rates; the speculative and competitive nature of the technology sector; dependency on continued growth in blockchain and cryptocurrency usage; lawsuits and other legal proceedings and challenges; government regulations; the global economic climate; dilution; future capital needs and uncertainty of additional financing, including the Company's ability to utilize the Company's ATM Program and the prices at which the Company may sell Common Shares in the ATM Program, as well as capital market conditions in general; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the need for continued technology change; the ability to maintain reliable and economical sources of power to run its cryptocurrency mining assets; the impact of energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; share dilution resulting from the ATM Program and from other equity issuances; the construction and operation of facilities may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of electricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power for the Company to operate cryptocurrency mining assets; the risks of an increase in the Company's electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and the adverse impact on the Company's profitability; the ability to complete current and future financings, any regulations or laws that will prevent the Company from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; an inability to predict and counteract the effects of pandemics on the business of the Company, including but not limited to the effects of pandemics on the price of digital currencies, capital market conditions, restriction on labour and international travel and supply chains; and, the adoption or expansion of any regulation or lawthat will prevent the Company from operating its business, or make it more costly to do so; and other related risks as more fully set out in the Company's disclosure documents under the Company's filings at <font style="color: #0000ee;"><u>www.sec.gov/EDGAR</u></font> and <font style="color: #0000ee;"><u>www.sedarplus.ca</u></font>.</i></p>
    <hr style="page-break-after: always;" width="100%" size="5" color="black" noshade="noshade"><a name="page_5"></a>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><i>The forward-looking information in this news release reflects the Company's current expectations, assumptions, and/or beliefs based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's objectives, goals or future plans, the timing thereof and related matters. The Company has also assumed that no significant events will occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance, and accordingly, undue reliance should not be put on such information due to its inherent uncertainty. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of newinformation, future events or otherwise, other than as required by law.</i></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><img src="exhibit99-2xu001.jpg" style="width: 235px;" height="69"></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">To view the source version of this press release, please visit <br><font style="color: #0000ee;"><u>https://www.newsfilecorp.com/release/271124</u></font></p>
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    <title>HIVE Digital Technologies Ltd.: Exhibit 99.3 - Filed by newsfilecorp.com</title>
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    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><font style="font-size: 12pt;"><b>HIVE Digital Technologies Surpasses 22 EH/s and Accelerates Conversion from Tier-1 to Tier-3 Data Centers for AI Cloud Expansion in Sweden</b></font></p>
    <p style="text-align: center; margin-left: 18.75pt; margin-top: 10pt; margin-bottom: 10pt;"><i>This news release constitutes a "designated news release" for the purposes of the Company's <br>amended and restated prospectus supplement dated May 14, 2025, to its short form base shelf <br>prospectus dated September 11, 2024.</i></p>
    <p style="text-align: justify; margin-bottom: 0pt; margin-top: 10pt;">San Antonio, Texas--(Newsfile Corp. - October 27, 2025) - HIVE Digital Technologies Ltd. (TSXV: HIVE)</p>
    <p style="text-align: justify; margin-top: 0pt; margin-bottom: 10pt;">(NASDAQ: HIVE) (FSE: YO0) (the "Company" or "HIVE"), a global leader in sustainable digital infrastructure, is pleased to announce it has surpassed 22 Exahash per second ("EH/s") in global Bitcoin-mining capacity - marking 267% year-to-date growth - while accelerating the conversion of Tier-1 data centers into Tier-3 high-performance computing ("HPC") facilities to expand its AI Cloud footprint in Sweden.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>HIVE Achieves Major Mining Milestone</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">HIVE's 22 EH/s milestone reflects the successful expansion of its hydro-powered Valenzuela facility in Paraguay, the Company's third 100-megawatt green campus in the country. The site draws renewable energy from the Itaipu Dam, one of the world's largest hydroelectric sources.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Current production has reached 9.5 Bitcoin per day with fleet efficiency of approximately 17.8 Joules per Terahash ("J/TH") and a 55% mining margin* after electricity costs at $47 Hashprice, demonstrating HIVE's operational efficiency across multiple countries and nine time zones.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">With additional ASIC miners coming online, HIVE expects to reach 25 EH/s by U.S. Thanksgiving, targeting fleet efficiency of 17.5 J/TH. Management reports EH/s growth as material to revenue and cash-flow expansion, noting that digital-infrastructure companies are typically valued at multiples of revenue and cash flow.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Accelerating AI Cloud Expansion in Sweden</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">HIVE is expanding its European AI Cloud operations by converting an existing Tier-1 data center in Boden, Sweden, into a Tier-3 liquid-cooled HPC facility - a strategy that provides a faster path to cash flow, typically 9 months versus 3 years for a greenfield build.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Engineering and design are complete, with construction commencing this quarter. The upgraded facility will deliver a robust critical load, supporting 2,000 NVIDIA GPUs for enterprise-grade AI and GPU cloud workloads across the European Union.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">This expansion builds on HIVE's AI operations in downtown Stockholm, active for the past two years, which have served early enterprise clients and validated demand for green, low-latency compute in Northern Europe.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Together with the BUZZ data center in Toronto-which will host an additional 2,000 GPUs in 2026-and planned growth in New Brunswick, HIVE has secured power and land at three strategic locations for next-generation, renewable-powered HPC operations.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Through its colocation partnership with Bell Canada, HIVE's BUZZ division can rapidly deploy AI Cloud GPU infrastructure, enabling flexible scaling to meet enterprise demand. Across its global pipeline, HIVE expects to operate approximately 6,000 GPUs by 2026, serving both AI training and inference workloads.</p>
    <hr style="page-break-after: always;" width="100%" size="5" color="black" noshade="noshade"><a name="page_2"></a>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Executive Commentary</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Frank Holmes, Co-Founder and Executive Chairman, stated: "Crossing 22 EH/s marks another major milestone for HIVE as we build one of the world's most efficient and sustainable Bitcoin-mining fleets. At the same time, our AI strategy accelerates the conversion of Tier-1 data centers into Tier-3 HPC facilities, positioning HIVE as a dual-engine digital-power company that bridges blockchain and the AI super cycle."</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Mr. Holmes continued: "It is now widely recognized that Bitcoin miners were the original builders of Tier- 1 digital-infrastructure networks-developing substations, fiber connectivity, and energy-optimization systems that laid the foundation for today's hyperscale AI data centers. This model is now being replicated globally, including in West Texas, where projects such as <font style="color: #0000ee;"><u>Stargate</u></font>, a US $500 billion HPC campus, mirror the pioneering work of early Bitcoin-mining companies that sourced stranded or surplus renewable energy."</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Aydin Kilic, President &amp; CEO, added: "Repurposing existing infrastructure allows HIVE to reach cash- flow generation much faster than greenfield projects. Our operational strength enables us to grow both Bitcoin mining and AI Cloud services in parallel, all powered by renewable energy."</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Johanna Thornblad, Sweden Country President, commented: "The Boden expansion reinforces Sweden's leadership in sustainable digital infrastructure. Building on our two years of AI operations in Stockholm, this conversion project will deliver enterprise-grade AI capacity to the EU market faster and more efficiently than traditional data-center builds."</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Outlook and Funding</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">All hardware for HIVE's Paraguay expansion is fully funded and delivered, supported by fixed-rate hydroelectric power ensuring predictable, scalable economics. The Company continues to model robust annual recurring revenue (ARR) potential from both Bitcoin production and AI Cloud contracts, consistent with non-GAAP industry standards.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">HIVE targets 25 EH/s by late 2025 and 35 EH/s during 2026, while scaling its HPC division five-fold over the same period.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><i>*</i><font style="width: 2.25pt; display: inline-block;">&#160;</font><i>As used herein, "Mining Margin" is calculated by dividing the mining profit (revenue generated from mining activities minus power costs related to those activities) by the total revenue generated from mining activities and expressed as a percentage. In mining, the most significant expense is power cost;, in this estimate we are assuming an average of USD 5 cents per kilowatt hour for indicative purposes. "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.</i></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>About HIVE Digital Technologies Ltd.</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">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 Bitcoin and high- performance computing (HPC) clients. HIVE's twin-turbo engine infrastructure-driven by Bitcoin mining and NVIDIA GPU-accelerated AI computing-delivers scalable, environmentally responsible solutions for the digital economy.</p>
    <hr style="page-break-after: always;" width="100%" size="5" color="black" noshade="noshade"><a name="page_3"></a>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">For more information, visit <font style="color: #0000ee;"><u>hivedigitaltech.com</u></font>, or connect with us on:</p>
    <p style="text-align: justify; margin-bottom: 0pt; margin-top: 10pt;">X: <u><font style="color: #0000ee;"><font style="color: #0000ee;">https://x.com/HIVEDigitalTech</font></font></u></p>
    <p style="text-align: justify; margin-top: 0pt; margin-bottom: 0pt;">YouTube: <font style="color: #0000ee;"><font style="color: #0000ee;"><u>https://www.youtube.com/@HIVEDigitalTech</u></font></font></p>
    <p style="text-align: justify; margin-top: 0pt; margin-bottom: 0pt;">Instagram: <font style="color: #0000ee;"><font style="color: #0000ee;"><u>https://www.instagram.com/hivedigitaltechnologies/</u></font></font></p>
    <p style="text-align: justify; margin-top: 0pt; margin-bottom: 10pt;">LinkedIn: <font style="color: #0000ee;"><font style="color: #0000ee;"><u>https://linkedin.com/company/hiveblockchain</u></font></font></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">On Behalf of HIVE Digital Technologies Ltd.</p>
    <p style="text-align: justify; margin-bottom: 0pt; margin-top: 10pt;"><i>"Frank Holmes"</i></p>
    <p style="text-align: justify; margin-top: 0pt; margin-bottom: 10pt;">Executive Chairman</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">For further information, please contact:</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Nathan Fast, Director of Marketing and Branding</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Frank Holmes, Executive Chairman</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Aydin Kilic, President &amp; CEO</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Tel: (604) 664-1078</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><i>Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.</i></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b><i>Forward-Looking Information</i></b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><i>Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian and United States securities legislation and regulations that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes but is not limited to: the performance of the Comp[any's existing operations, the construction of the Company's Phase 3 facility in Valenzuela, Paraguay and its potential specifications and performance upon completion, the timing of it becoming operational; business goals and objectives of the Company; the acquisition, deployment and optimization of the mining fleet and equipment; the continued viability of its existing Bitcoin mining operations; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.</i></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><i>Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to: the inability to complete the construction of the Paraguay acquisition on an economic and timely basis and achieve the desired operational performance; the ongoing support and cooperation of local authorities and the Government of Paraguay; the volatility of the digital currency market; the Company's ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company's operations; the regulatory environment for cryptocurrency in Canada, the United States and the countries where our mining facilities are located; economic dependence on regulated terms of service and electricity rates; the speculative and competitive nature of the technology sector; dependency on continued growth in blockchain and cryptocurrency usage; lawsuits and other legal proceedings and challenges; government regulations; the global economic climate; dilution; future capital needs and uncertainty of additional financing, including the Company's ability to utilize the Company's ATM Program and the prices at which the Company may sell Common Shares in the ATM Program, as well as capital market conditions in general; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the need for continued technology change; the ability to maintain reliable and economical sources of power to run its cryptocurrency mining assets; the impact of energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; share dilution resulting from the ATM Program and from other equity issuances; the construction and operation of facilities may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of electricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power for the Company to operate cryptocurrency mining assets; the risks of an increase in the Company's electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and the adverse impact on the Company's profitability; the ability to complete current and future financings, any regulations or laws that will prevent the Company from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; an inability to predict and counteract the effects of pandemics on the business of the Company, including but not limited to the effects of pandemics on the price of digital currencies, capital market conditions, restriction on labour and international travel and supply chains; and, the adoption or expansion of any regulation or law that will prevent the Company from operating its business, or make it more costly to do so; and other related risks as more fully set out in the Company's disclosure documents under the Company's filings at <font style="color: #0000ee;"><u>www.sec.gov/EDGAR</u></font> and <font style="color: #0000ee;"><u>www.sedarplus.ca</u></font>.</i></p>
    <hr style="page-break-after: always;" width="100%" size="5" color="black" noshade="noshade"><a name="page_4"></a>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><i>The forward-looking information in this news release reflects the Company's current expectations, assumptions, and/or beliefs based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's objectives, goals or future plans, the timing thereof and related matters. The Company has also assumed that no significant events will occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance, and accordingly, undue reliance should not be put on such information due to its inherent uncertainty. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of newinformation, future events or otherwise, other than as required by law.</i></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><i><img src="exhibit99-3x4x1.jpg"></i></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">To view the source version of this press release, please visit <br><font style="color: #0000ee;"><u>https://www.newsfilecorp.com/release/271906</u></font></p>
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    <title>HIVE Digital Technologies Ltd.: Exhibit 99.4 - Filed by newsfilecorp.com</title>
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    <p style="margin-bottom: 0pt; text-align: center; margin-top: 10pt;"><b>FORM 51-102F3</b></p>
    <p style="margin-top: 0pt; text-align: center; margin-bottom: 10pt;"><b>MATERIAL CHANGE REPORT</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Item 1<font style="display: inline-block; width: 30pt;">&#160;</font>Name and Address of Company</b></p>
    <p style="text-align: justify; margin-bottom: 0pt; margin-top: 10pt;">HIVE Digital Technologies Ltd. ("HIVE" or the "Company")</p>
    <p style="text-align: justify; margin-top: 0pt; margin-bottom: 0pt;">#128, 7900 Callaghan Road</p>
    <p style="text-align: justify; margin-top: 0pt; margin-bottom: 10pt;">San Antonio, Texas 78229</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Item 2<font style="display: inline-block; width: 30pt;">&#160;</font>Date of Material Change</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">October 27, 2025.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Item 3<font style="display: inline-block; width: 30pt;">&#160;</font>News Release</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">The press release attached as Schedule "A" was released on October 27, 2025 by a newswire company in Canada.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Item 4<font style="display: inline-block; width: 30pt;">&#160;</font>Summary of Material Change</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">The material change is described in the press release attached as Schedule "A".</p>
    <p style="text-align: left; margin-top: 10pt; margin-bottom: 10pt;"><b>Item 5<font style="display: inline-block; width: 30pt;">&#160;</font></b><b>Full Description of Material Change</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">The material change is described in the press release attached as Schedule "A".</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Item 6<font style="display: inline-block; width: 30pt;">&#160;</font>Reliance of subsection 7.1(2) of National Instrument 51-102</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Not applicable.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Item 7<font style="display: inline-block; width: 30pt;">&#160;</font>Omitted Information</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Not applicable.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Item 8<font style="display: inline-block; width: 30pt;">&#160;</font>Executive Officer</b></p>
    <p style="text-align: justify; margin-bottom: 0pt; margin-top: 10pt;">Darcy Daubaras</p>
    <p style="text-align: justify; margin-top: 0pt; margin-bottom: 0pt;">Chief Financial Officer</p>
    <p style="text-align: justify; margin-top: 0pt; margin-bottom: 10pt;">T: 604-664-1078</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Item 9<font style="display: inline-block; width: 30pt;">&#160;</font>Date of Report</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">October 27, 2025.</p>
    <hr style="page-break-after: always;" width="100%" size="5" color="black" noshade="noshade"><a name="page_2"></a>
    <p style="margin-top: 10pt; margin-bottom: 10pt; text-align: center;"><font style="font-size: 12pt;">Schedule "A"</font></p>
    <p style="margin-top: 10pt; margin-bottom: 10pt; text-align: center;"><font style="font-size: 12pt;"><img src="exhibit99-4xu001.jpg"></font></p>
    <p style="margin-top: 10pt; margin-bottom: 10pt; text-align: center;"><font style="font-size: 12pt;"><b>HIVE DIGITAL TECHNOLOGIES LTD.</b></font></p>
    <p style="margin-bottom: 0pt; margin-top: 10pt; text-align: center;"><font style="font-size: 14pt;"><b>HIVE Digital Technologies Surpasses 22 EH/s and Accelerates </b></font><font style="font-size: 14pt;"><b>Conversion from Tier-1 to Tier-3 Data Centers for AI Cloud Expansion </b></font><font style="font-size: 14pt;"><b>in Sweden</b></font></p>
    <p style="margin-left: 6pt; margin-bottom: 0pt; text-indent: -1.5pt; margin-top: 10pt; text-align: center;"><i><font style="color: #333333;">This news release constitutes a "designated news release" for the purposes of the Company's amended and restated prospectus supplement dated May 14, 2025, to its short form base shelf prospectus dated </font></i><i><font style="color: #333333;">September 11, 2024</font></i><font style="color: #333333;"><i><font style="color: #333333;">.</font></i></font></p>
    <p style="text-align: justify; margin-bottom: 0pt; margin-top: 10pt;"><b>San Antonio, Texas, October 27, 2025 </b>- HIVE Digital Technologies Ltd. (TSX.V: HIVE) (Nasdaq: HIVE) (FSE: YO0) (the "Company" or "HIVE"), a global leader in sustainable digital infrastructure, is pleased to announce it has surpassed 22 Exahash per second ("EH/s") in global Bitcoin-mining capacity - marking 267% year-to-date growth - while accelerating the conversion of Tier-1 data centers into Tier-3 high-performance computing ("HPC") facilities to expand its AI Cloud footprint in Sweden.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>HIVE Achieves Major Mining Milestone</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">HIVE's 22 EH/s milestone reflects the successful expansion of its hydro-powered Valenzuela facility in Paraguay, the Company's third 100-megawatt green campus in the country. The site draws renewable energy from the Itaipu Dam, one of the world's largest hydroelectric sources.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Current production has reached 9.5 Bitcoin per day with fleet efficiency of approximately 17.8 Joules per Terahash ("J/TH") and a 55% mining margin* after electricity costs at $47 Hashprice, demonstrating HIVE's operational efficiency across multiple countries and nine time zones.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">With additional ASIC miners coming online, HIVE expects to reach 25 EH/s by U.S. Thanksgiving, targeting fleet efficiency of 17.5 J/TH. Management reports EH/s growth as material to revenue and cash-flow expansion, noting that digital-infrastructure companies are typically valued at multiples of revenue and cash flow.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Accelerating AI Cloud Expansion in Sweden</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">HIVE is expanding its European AI Cloud operations by converting an existing Tier-1 data center in Boden, Sweden, into a Tier-3 liquid-cooled HPC facility - a strategy that provides a faster path to cash flow, typically 9 months versus 3 years for a greenfield build.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Engineering and design are complete, with construction commencing this quarter. The upgraded facility will deliver a robust critical load, supporting 2,000 NVIDIA GPUs for enterprise-grade AI and GPU cloud workloads across the European Union.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">This expansion builds on HIVE's AI operations in downtown Stockholm, active for the past two years, which have served early enterprise clients and validated demand for green, low-latency compute in Northern Europe.</p>
    <hr style="page-break-after: always;" width="100%" size="5" color="black" noshade="noshade"><a name="page_3"></a>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Together with the BUZZ data center in Toronto-which will host an additional 2,000 GPUs in 2026-and planned growth in New Brunswick, HIVE has secured power and land at three strategic locations for next-generation, renewable-powered HPC operations.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Through its colocation partnership with Bell Canada, HIVE's BUZZ division can rapidly deploy AI Cloud GPU infrastructure, enabling flexible scaling to meet enterprise demand. Across its global pipeline, HIVE expects to operate approximately 6,000 GPUs by 2026, serving both AI training and inference workloads.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Executive Commentary</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Frank Holmes, Co-Founder and Executive Chairman, stated: "Crossing 22 EH/s marks another major milestone for HIVE as we build one of the world's most efficient and sustainable Bitcoin-mining fleets. At the same time, our AI strategy accelerates the conversion of Tier-1 data centers into Tier-3 HPC facilities, positioning HIVE as a dual-engine digital-power company that bridges blockchain and the AI super cycle."</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Mr. Holmes continued: "It is now widely recognized that Bitcoin miners were the original builders of Tier-1 digital-infrastructure networks-developing substations, fiber connectivity, and energy-optimization systems that laid the foundation for today's hyperscale AI data centers. This model is now being replicated globally, including in West Texas, where projects such as <font style="color: #0000ff;"><u>Stargate</u></font>, a US $500 billion HPC campus, mirror the pioneering work of early Bitcoin-mining companies that sourced stranded or surplus renewable energy".</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Aydin Kilic, President &amp; CEO, added: "Repurposing existing infrastructure allows HIVE to reach cash-flow generation much faster than greenfield projects. Our operational strength enables us to grow both Bitcoin mining and AI Cloud services in parallel, all powered by renewable energy."</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Johanna Thornblad, Sweden Country President, commented: "The Boden expansion reinforces Sweden's leadership in sustainable digital infrastructure. Building on our two years of AI operations in Stockholm, this conversion project will deliver enterprise-grade AI capacity to the EU market faster and more efficiently than traditional data-center builds."</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Outlook and Funding</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">All hardware for HIVE's Paraguay expansion is fully funded and delivered, supported by fixed-rate hydroelectric power ensuring predictable, scalable economics. The Company continues to model robust annual recurring revenue (ARR) potential from both Bitcoin production and AI Cloud contracts, consistent with non-GAAP industry standards.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">HIVE targets 25 EH/s by late 2025 and 35 EH/s during 2026, while scaling its HPC division five-fold over the same period.</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><i>*</i><font style="width: 2.25pt; display: inline-block;">&#160;</font><i>As used herein, "Mining Margin" is calculated by dividing the mining profit (revenue generated from mining activities minus power costs related to those activities) by the total revenue generated from mining activities and expressed as a percentage. In mining, the most significant expense is power cost;, in this estimate we are assuming an average of USD 5 cents per kilowatt hour for indicative purposes. "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.</i></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>About HIVE Digital Technologies Ltd.</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">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 Bitcoin and high-performance computing (HPC) clients. HIVE's twin-turbo engine infrastructure-driven by Bitcoin mining and NVIDIA GPU-accelerated AI computing-delivers scalable, environmentally responsible solutions for the digital economy.</p>
    <hr style="page-break-after: always;" width="100%" size="5" color="black" noshade="noshade"><a name="page_4"></a>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">For more information, visit <font style="color: #0000ff;"><u>hivedigitaltech.com</u></font>, or connect with us on:</p>
    <p style="text-align: justify; margin-bottom: 0pt; margin-top: 10pt;">X:<font style="width: 2.25pt; display: inline-block;">&#160;</font><font style="color: #0000ff;"><u><font style="color: #0000ff;">https://x.com/HIVEDigitalTech</font></u></font></p>
    <p style="text-align: justify; margin-top: 0pt; margin-bottom: 0pt;">YouTube: <font style="color: #0000ff;"><font style="color: #0000ff;"><u>https://www.youtube.com/@HIVEDigitalTech</u></font></font></p>
    <p style="text-align: justify; margin-top: 0pt; margin-bottom: 0pt;">Instagram: <font style="color: #0000ff;"><font style="color: #0000ff;"><u>https://www.instagram.com/hivedigitaltechnologies/</u></font></font></p>
    <p style="text-align: justify; margin-top: 0pt; margin-bottom: 10pt;">LinkedIn: <font style="color: #0000ff;"><font style="color: #0000ff;"><u>https://linkedin.com/company/hiveblockchain</u></font></font></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">On Behalf of HIVE Digital Technologies Ltd.</p>
    <p style="text-align: justify; margin-bottom: 0pt; margin-top: 10pt;"><i>"Frank Holmes"</i></p>
    <p style="text-align: justify; margin-top: 0pt; margin-bottom: 10pt;">Executive Chairman</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">For further information, please contact:</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Nathan Fast, Director of Marketing and Branding</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Frank Holmes, Executive Chairman</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b>Aydin Kilic, President &amp; CEO</b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;">Tel: (604) 664-1078</p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><i>Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.</i></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><b><i>Forward-Looking Information</i></b></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><i>Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian and United States securities legislation and regulations that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes but is not limited to: the performance of the Comp[any's existing operations, the construction of the Company's Phase 3 facility in Valenzuela, Paraguay and its potential specifications and performance upon completion, the timing of it becoming operational; business goals and objectives of the Company; the acquisition, deployment and optimization of the mining fleet and equipment; the continued viability of its existing Bitcoin mining operations; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.</i></p>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><i>Factors that could cause actual results to differ materially from those described in such forward looking information include, but are not limited to: the inability to complete the construction of the Paraguay acquisition on an economic and timely basis and achieve the desired operational performance; the ongoing support and cooperation of local authorities and the Government of Paraguay; the volatility of the digital currency market; the Company's ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company's operations; the regulatory environment for cryptocurrency in Canada, the United States and the countries where our mining facilities are located; economic dependence on regulated terms of service and electricity rates; the speculative and competitive nature of the technology sector; dependency on continued growth in blockchain and cryptocurrency usage; lawsuits and other legal proceedings and challenges; government regulations; the global economic climate; dilution; future capital needs and uncertainty of additional financing, including the Company's ability to utilize the Company's ATM Program and the prices at which the Company may sell Common Shares in the ATM Program, as well as capital market conditions in general; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the need for continued technology change; the ability to maintain reliable and economical sources of power to run its cryptocurrency mining assets; the impact of energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; share dilution resulting from the ATM Program and from other equity issuances; the construction and operation of facilities may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of electricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power for the Company to operate cryptocurrency mining assets; the risks of an increase in the Company's electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and the adverse impact on the Company's profitability; the ability to complete current and future financings, any regulations or laws that will prevent the Company from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; an inability to predict and counteract the effects of pandemics on the business of the Company, including but not limited to the effects of pandemics on the price of digital currencies, capital market conditions, restriction on labour and international travel and supply chains; and, the adoption or expansion of any regulation or law that will prevent the Company from operating its business, or make it more costly to do so; and other related risks as more fully set out in the Company's disclosure documents under the Company's filings at <u>www.sec.gov/EDGAR</u> and <u>www.sedarplus.ca</u>.</i></p>
    <hr style="page-break-after: always;" width="100%" size="5" color="black" noshade="noshade"><a name="page_5"></a>
    <p style="text-align: justify; margin-top: 10pt; margin-bottom: 10pt;"><i>The forward-looking information in this news release reflects the Company's current expectations, assumptions, and/or beliefs based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's objectives, goals or future plans, the timing thereof and related matters. The Company has also assumed that no significant events will occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance, and accordingly, undue reliance should not be put on such information due to its inherent uncertainty. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, other than as required by law.</i></p>
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M4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1
I110 4444 %%%% !1110 4444 %%%% !1110 4444 %%%% !1110!_]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
