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April 12, 2024
Blockchain Technology

HIVE Digital Technologies Tops 2024 TSX Venture 50 in Technology, Leading In Blockchain and AI Infrastructure

This information launch constitutes a “designated information launch” for the needs of the Firm’s amended and restated prospectus complement dated August 17, 2023, to its brief kind base shelf prospectus dated Might 1, 2023.

Vancouver, British Columbia–(Newsfile Corp. – March 1, 2024) – HIVE Digital Applied sciences Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the “Firm” or “HIVE”), a worldwide chief in inexperienced power centered blockchain expertise and AI infrastructure, introduced right this moment that it has ranked primary within the Know-how Class on the 2024 TSX Enterprise 50 record. A rating of the highest performers on the TSX Enterprise Alternate during the last yr, the TSX Enterprise 50 record is comprised of fifty corporations from 5 completely different business sectors, chosen primarily based on three equally weighted standards (all quantities in US {dollars}, except in any other case indicated).

HIVE was the primary cryptocurrency mining firm to go public on the TSX Enterprise Alternate in 2017. With its information facilities positioned in Canada, Sweden and Iceland, HIVE is dedicated to using low-cost, renewable power for mining digital belongings like Bitcoin on the cloud. By combining its experience from excessive density GPU-based information heart administration, HIVE is fueling the development of synthetic intelligence (AI) and high-performance computing (HPC).

Fastidiously vetted on a wide range of equally weighted standards, the TSX Enterprise 50 record represents probably the most highly effective and high-performing publicly traded corporations. HIVE was glad to report a profitable near calendar 2023 and a promising begin to the brand new yr. That is highlighted in manufacturing totaling 3,260 Bitcoin mined, and hashrate growing by 100% within the 2023 calendar yr, from 2 Exahash per second (“EH/s”) on the finish of December 2022 to 4 EH/s on the finish of December 2023. As well as, the Firm’s rising GPU-powered AI enterprise unit realized over $5 million of revenues on an annualized run fee foundation, as of December 31, 2023, successfully representing 5X development through the 2023 calendar yr.

“We’re honored to be acknowledged amongst key business leaders on the TSX Enterprise 50 record. That is the second time HIVE has been a high efficiency on the TSX.V. Within the yr 2020, previous to itemizing on Nasdaq and through the yr of the final halving occasion, the Firm was probably the most liquid inventory on the TSX.V, buying and selling over 1.7 billion shares,” provides Frank Holmes, Govt Chairman of HIVE Digital Applied sciences, who has 40 years of capital markets expertise.

“HIVE was a primary mover within the digital asset area, changing into the primary cryptocurrency miner to go public in 2017. Seven years after HIVE launched, the primary spot Bitcoin ETFs have been permitted, which means we took the chance early on and it has paid off. I am extraordinarily pleased with our group who’ve labored so onerous to get us the place we’re right this moment. We additionally wish to thank our loyal shareholders for believing in our imaginative and prescient. We’re wanting ahead to all of the alternatives that lie forward, notably within the build-out of our AI enterprise.”

“2024 is off to an thrilling begin for HIVE Digital Applied sciences. Past the inventory’s efficiency and earnings in 2023, what is really thrilling is the analysis and developments we have made in working with tech leaders throughout the business. Our group has made breakthroughs on the intersection of HPC infrastructure, AI, and LLM efficiency on our GPU fleets. We have now laid the bricks to scale what, we imagine, will likely be an enormous AI ‘picks and shovel’ enterprise,” shares Aydin Kilic, CEO and President of HIVE Digital Applied sciences. “HIVE’s recognition by the TSX Enterprise is just the start of the issues we want to accomplish in 2024 and is a testomony to our devoted group. I am excited to see what’s subsequent for us.”

In 2023, the Firm rebranded, strategically altering its identify from HIVE Blockchain Applied sciences to HIVE Digital Applied sciences. The change indicators a big strategic growth to harness the potential of its green-energy information facilities and GPU cloud compute expertise, an important instrument on the earth of AI, machine studying and superior information evaluation for the reason that launch of ChatGPT. HIVE’s placement on the TSX Enterprise 50 record additional affirms its strategic rebrand as a considerate, purpose-driven transfer.

HIVE is thrilled to be ranked primary within the Know-how class on the 2024 TSX Enterprise 50 and to proceed to be on the forefront of driving change and innovation throughout the dynamic world of cryptocurrency and AI infrastructure. The group is devoted to exploring new potentialities, fostering development and creating impactful options that form the way forward for decentralized applied sciences and AI.

To learn the TSX Enterprise 50 Listing press launch, click on right here.

About HIVE Digital Applied sciences Ltd.

HIVE Digital Applied sciences Ltd. went public in 2017 as the primary cryptocurrency mining firm listed for buying and selling on the TSX Enterprise Alternate with a sustainable inexperienced power focus.

HIVE is a growth-oriented expertise inventory within the emergent blockchain and high-performance computing business. As an organization whose shares commerce on main inventory exchanges, we’re constructing a bridge between the digital forex and blockchain sectors and conventional capital markets. HIVE owns inexperienced energy-powered information heart amenities in Canada, Sweden, and Iceland, the place we endeavour to supply geothermal and hydroelectric power to mine digital belongings resembling Bitcoin on the cloud. For the reason that starting of 2021, HIVE has held in safe storage the vast majority of its treasury of BTC derived from mining rewards. Our shares present buyers with publicity to the working margins of digital forex mining, in addition to a portfolio of Bitcoin. As a result of HIVE additionally owns onerous belongings resembling information facilities and superior multi-use servers, we imagine our shares provide buyers a pretty approach to acquire publicity to the cryptocurrency and high-performance computing area.

We encourage you to go to HIVE’s YouTube channel right here to be taught extra about HIVE.

For extra info and to register to HIVE’s mailing record, please go to https://hivedigitaltechnologies.com/. Comply with @HIVEDigitalTech on X and subscribe to HIVE’s YouTube channel.

On Behalf of HIVE Digital Applied sciences Ltd.
“Frank Holmes”
Govt Chairman

For additional info please contact:
Frank Holmes

Neither the TSX Enterprise Alternate nor its Regulation Providers Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Alternate) accepts duty for the adequacy or accuracy of this information launch

To view the supply model of this press launch, please go to https://www.newsfilecorp.com/launch/199986

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