# EDGAR Filing Document

**Accession Number:** 0001720424
**File Stem:** 0001062993-25-017359
**Filing Date:** 2025-12
**Character Count:** 40656
**Document Hash:** 3f4e1792563d3f26b9233f91ed2986a5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001062993-25-017359.hdr.sgml**: 20251216

**ACCESSION NUMBER**: 0001062993-25-017359

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 7

**CONFORMED PERIOD OF REPORT**: 20251210

**FILED AS OF DATE**: 20251216

**DATE AS OF CHANGE**: 20251216

**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:** 251575723

**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

------

**UNITED STATES**<br>**SECURITIES AND EXCHANGE COMMISSION**<br>**Washington, D.C. 20549**

**FORM 6-K**

REPORT OF FOREIGN PRIVATE ISSUER<br>PURSUANT TO RULE 13a-16 OR 15d-16<br>UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of <u>**December, 2025**</u>

Commission File Number: <u>**001-40398**</u>

<u>**HIVE Digital Technologies Ltd.**</u><br>(Translation of registrant's name into English)

<u>**British Columbia, Canada**</u><br>(Jurisdiction of incorporation or organization)

**Suite 128, 7900 Callaghan Road** 

<u>**San Antonio, Texas 78229 United States of America**</u>

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

[ ] Form 20-F [X] Form 40-F

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): [ ]

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): [ ]

------

Exhibits 99.1, 99.2, and 99.3 are hereby incorporated by reference into the Registrant's Registration Statement on Form F-3 (Registration Number 333-291676) and into each prospectus outstanding under the foregoing registration statement, to the extent not superseded by documents or reports subsequently filed or furnished by the Company under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended.

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| [99.1](exhibit99-1.htm) | [News Release dated December 10, 2025](exhibit99-1.htm) |
| [99.2](exhibit99-2.htm) | [Material Change Report dated December 10, 2025](exhibit99-2.htm) |
| [99.3](exhibit99-3.htm) | [News Release dated December 11, 2025](exhibit99-3.htm) |

---

---

| | |
|:---|:---|
| **SIGNATURES** | **SIGNATURES** |
| **HIVE DIGITAL TECHNOLOGIES LTD.** | **HIVE DIGITAL TECHNOLOGIES LTD.** |
| By: | <u>/s/ Darcy Daubaras</u> |
|  | Name: Darcy Daubaras |
|  | Title: Chief Financial Officer |

---

Date: December 15, 2025

------

## Exhibit 99.1

------

**HIVE Digital Technologies Reports November Production of 290 BTC, Achieves 25 EH/s as Tier III+ AI Data Center Growth Accelerates into 2026**

**This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated November 25, 2025 to its short form base shelf prospectus dated October 31, 2025.**

San Antonio, Texas--(Newsfile Corp. - December 10, 2025) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the "Company" or "HIVE"), a diversified multinational digital infrastructure company, reports November 2025 Bitcoin production results, highlighted by year-to-date highs in Bitcoin output and all-time highs in global mining capacity, supported by 300 megawatts ("MW") of capacity in Paraguay.

**November 2025 Production Highlights**

* **Bitcoin Produced:** 290 BTC (up 182% year-over-year from 103 BTC in November 2024)

* **Average Daily Production:** 9.7 BTC/day

* **Hashrate:** Averaged 23.5 Exahash per Second ("EH/s"), peaking at 25.4 EH/s

* **Fleet Efficiency:** 17.5 Joules per Terahash ("J/TH")

* **BTC per EH/s:** 12.3 BTC

HIVE's network share continues to exceed 2% of the <u>global Bitcoin network</u>, reinforcing its position as one of the world's most efficient and sustainable digital-asset operators.

**Full Deployment in Paraguay Achieved**

In November, two weeks ahead of schedule, the Company commissioned the final ASICs at its Phase 3 Valenzuela campus, bringing the full 300 MW of Paraguay capacity online. This milestone represents 25 EH/s of installed global Bitcoin mining capacity with an average efficiency of approximately 17.5 J/TH.

November highlights include:

* **7% Hashrate Growth:** Increasing from 21.9 EH/s in October to 23.5 EH/s in November.

* **Record Production:** 290 BTC, a year-to-date high.

Building on this momentum, HIVE plans to develop an additional 100 MW hydroelectric-powered data center at its Yguazú campus in early 2026, with full commissioning targeted for calendar Q3 2026. The Company will evaluate the optimal return-on-invested-capital ("ROIC") strategy for this new capacity as it comes online. Once complete, HIVE's total renewable infrastructure footprint will reach 540 MW across three continents, including 400 MW in Paraguay and 140 MW across Canada and Sweden.

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Location** | **Installed Hash** | **Pipeline Hash** | **MW Capacity** | **Status** |
| New Brunswick, Canada | 3.2 EH/s | 3.2 EH/s | 65 MW | Online |
| Lachute, Canada | 1.4 EH/s | 1.4 EH/s | 35 MW | Online |
| Sweden | 1.9 EH/s | 1.9 EH/s | 40 MW | Online |
| Valenzuela | 6.7 EH/s | 6.7 EH/s | 100 MW | Online |
| Yguazú Phase 1 | 5.1 EH/s | 5.1 EH/s | 100 MW | Online |
| Yguazú Phase 2 | 6.7 EH/s | 6.7 EH/s | 100 MW | Online |
| Yguazú Phase 3 |  |  | 100 MW | Calendar Q3 2026 |
| **Total** | **25.0 EH/s** |  | **540 MW** |  |

---

**Fast-Tracking HPC Infrastructure for the AI Supercycle**

In November, HIVE's subsidiary BUZZ High Performance Computing Inc. ("BUZZ HPC"), a Canadian-based leader in high-performance computing, <u>ranked number one worldwide for network download speed</u> in the latest SemiAnalysis ClusterMAX™ 2.0 report, a trusted independent benchmark for GPU cloud platforms.

To meet the global surge in compute demand, the Company is accelerating hyperscaler-ready AI and HPC infrastructure on a renewable-energy backbone as record cash flows from Bitcoin mining are funding Tier I to Tier III+ upgrades across its global footprint.

In Toronto, BUZZ HPC is upgrading its 7.2 MW facility for Tier III+ sovereign AI applications, keeping data and compute domestic through operating 2,000 next-generation GPUs. Parallel upgrades in Boden, Sweden, expand Tier III+ capacity to operate an additional 2,000 GPUs for BUZZ HPC operations. This is further complemented by the 2,000 next-generation GPUs that are coming online in BUZZ's partnership with Bell Canada, with the first shipment of 504 GPUs expected to be operational in calendar Q1 2026.

These strategic expansions position HIVE at the forefront of green-energy AI infrastructure, delivering large-scale, high-efficiency compute across North America and Europe. Plans to convert the HIVE New Brunswick Tier I facility to Tier III+ for hyperscaler co-location are also being advanced, with design development and site planning moving forward.

**Management Insights**

"As we prepare to enter calendar 2026, there is a <u>global arms race</u> as the demand for compute continues to accelerate," said Executive Chairman Frank Holmes. "Our renewable campuses enable low-cost, rapid deployment in months - not years. With Bitcoin's next cycle and AI demand surging, our dual engine model is positioned to capture both supercycles in real time with cash flow from Bitcoin operations driving exponential HPC growth."

Aydin Kilic, President & CEO, added: "HIVE's Paraguay buildout, expanding our global footprint from 6 to 25 EH/s in just six months, has become our model for future growth and our playbook for creating large-scale, renewable digital infrastructure. With one of the world's most efficient Bitcoin mining fleets at 17.5 J/TH and BUZZ HPC ranked number one globally for AI cloud network download speed, we have created a growth flywheel poised to accelerate even further in 2026 and beyond. Our dual engines of growth in data center development for both Tier I Bitcoin mining and Tier III+ HPC conversion compliment our strategy to maximize ROIC in capital deployment."

**About HIVE Digital Technologies Ltd.**

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.

------

For more information, visit <u>hivedigitaltech.com</u>, or connect with us on:

<u>X:</u> <u>https://x.com/HIVEDigitalTech</u>

YouTube: <u>https://www.youtube.com/@HIVEDigitalTech</u>

Instagram: <u>https://www.instagram.com/hivedigitaltechnologies/</u>

LinkedIn: <u>https://linkedin.com/company/hiveblockchain</u>

On Behalf of HIVE Digital Technologies Ltd.

*"Frank Holmes"*

Executive Chairman

For further information, please contact:

**Nathan Fast, Director of Marketing and Branding**

**Frank Holmes, Executive Chairman**

**Aydin Kilic, President & CEO**

Tel: (604) 664-1078

*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.*

***Forward-Looking Information***

*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 construction of the Company's site in Yguazu, Paraguay and its potential specifications and performance upon completion, the timing of it becoming operational; hash rash growth projections; 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; the prospectivity of the BUZZ HPC operations and the ability of the Company to successfully expand the infrastructure and operate in this sector, the receipt of government consents; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.*

------

*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 possibility of flaws in the implementation of the Paraguay build-out and energization; 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; an inability to apply the Company's data centers to HPC/AI opportunities on a profitable basis; a failure to secure long-term contracts associated with HPC/AI customers on terms which are economic or at all; 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 <u>www.sec.gov/EDGAR</u> and <u>www.sedarplus.ca</u> .*

*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.*

------

![](exhibit99-1x4x1.jpg)

To view the source version of this press release, please visit <u>https://www.newsfilecorp.com/release/277551</u>

------

## Exhibit 99.2

------

**FORM 51-102F3**

**MATERIAL CHANGE REPORT**

**Item 1 Name and Address of Company**

HIVE Digital Technologies Ltd. ("HIVE" or the "Company")

#128, 7900 Callaghan Road

San Antonio, Texas 78229

**Item 2 Date of Material Change**

December 10, 2025.

**Item 3 News Release**

The press release attached as Schedule "A" was released on December 10, 2025 by a newswire company in Canada.

**Item 4 Summary of Material Change**

The material change is described in the press release attached as Schedule "A".

**Item 5 Full Description of Material Change**

The material change is described in the press release attached as Schedule "A".

**Item 6 Reliance of subsection 7.1(2) of National Instrument 51-102**

Not applicable.

**Item 7 Omitted Information**

Not applicable.

**Item 8 Executive Officer**

Darcy Daubaras

Chief Financial Officer

T: 604-664-1078

**Item 9 Date of Report**

December 10, 2025.

------

"Schedule A"

**HIVE Digital Technologies Reports November Production of 290 BTC, Achieves 25 EH/s as Tier III+ AI Data Center Growth Accelerates into 2026**

**This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated November 25, 2025 to its short form base shelf prospectus dated October 31, 2025.**

San Antonio, Texas--(Newsfile Corp. - December 10, 2025) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the "Company" or "HIVE"), a diversified multinational digital infrastructure company, reports November 2025 Bitcoin production results, highlighted by year-to-date highs in Bitcoin output and all-time highs in global mining capacity, supported by 300 megawatts ("MW") of capacity in Paraguay.

**November 2025 Production Highlights**

* **Bitcoin Produced:** 290 BTC (up 182% year-over-year from 103 BTC in November 2024)

* **Average Daily Production:** 9.7 BTC/day

* **Hashrate:** Averaged 23.5 Exahash per Second ("EH/s"), peaking at 25.4 EH/s

* **Fleet Efficiency:** 17.5 Joules per Terahash ("J/TH")

* **BTC per EH/s:** 12.3 BTC

HIVE's network share continues to exceed 2% of the <u>global Bitcoin network</u>, reinforcing its position as one of the world's most efficient and sustainable digital-asset operators.

**Full Deployment in Paraguay Achieved**

In November, two weeks ahead of schedule, the Company commissioned the final ASICs at its Phase 3 Valenzuela campus, bringing the full 300 MW of Paraguay capacity online. This milestone represents 25 EH/s of installed global Bitcoin mining capacity with an average efficiency of approximately 17.5 J/TH.

November highlights include:

* **7% Hashrate Growth:** Increasing from 21.9 EH/s in October to 23.5 EH/s in November.

* **Record Production:** 290 BTC, a year-to-date high.

Building on this momentum, HIVE plans to develop an additional 100 MW hydroelectric-powered data center at its Yguazú campus in early 2026, with full commissioning targeted for calendar Q3 2026. The Company will evaluate the optimal return-on-invested-capital ("ROIC") strategy for this new capacity as it comes online. Once complete, HIVE's total renewable infrastructure footprint will reach 540 MW across three continents, including 400 MW in Paraguay and 140 MW across Canada and Sweden. <br>

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Location** | **Installed Hash** | **Pipeline Hash** | **MW Capacity** | **Status** |
| New Brunswick, Canada | 3.2 EH/s | 3.2 EH/s | 65 MW | Online |
| Lachute, Canada | 1.4 EH/s | 1.4 EH/s | 35 MW | Online |
| Sweden | 1.9 EH/s | 1.9 EH/s | 40 MW | Online |
| Valenzuela | 6.7 EH/s | 6.7 EH/s | 100 MW | Online |
| Yguazú Phase 1 | 5.1 EH/s | 5.1 EH/s | 100 MW | Online |
| Yguazú Phase 2 | 6.7 EH/s | 6.7 EH/s | 100 MW | Online |
| Yguazú Phase 3 |  |  | 100 MW | Calendar Q3 2026 |
| **Total** | **25.0 EH/s** |  | **540 MW** |  |

---

**Fast-Tracking HPC Infrastructure for the AI Supercycle**

In November, HIVE's subsidiary BUZZ High Performance Computing Inc. ("BUZZ HPC"), a Canadian- based leader in high-performance computing, <u>ranked number one worldwide for network download speed</u> in the latest SemiAnalysis ClusterMAX™ 2.0 report, a trusted independent benchmark for GPU cloud platforms.

To meet the global surge in compute demand, the Company is accelerating hyperscaler-ready AI and HPC infrastructure on a renewable-energy backbone as record cash flows from Bitcoin mining are funding Tier I to Tier III+ upgrades across its global footprint.

In Toronto, BUZZ HPC is upgrading its 7.2 MW facility for Tier III+ sovereign AI applications, keeping data and compute domestic through operating 2,000 next-generation GPUs. Parallel upgrades in Boden, Sweden, expand Tier III+ capacity to operate an additional 2,000 GPUs for BUZZ HPC operations. This is further complemented by the 2,000 next-generation GPUs that are coming online in BUZZ's partnership with Bell Canada, with the first shipment of 504 GPUs expected to be operational in calendar Q1 2026.

These strategic expansions position HIVE at the forefront of green-energy AI infrastructure, delivering large-scale, high-efficiency compute across North America and Europe. Plans to convert the HIVE New Brunswick Tier I facility to Tier III+ for hyperscaler co-location are also being advanced, with design development and site planning moving forward.

**Management Insights**

"As we prepare to enter calendar 2026, there is a <u>global arms race</u> as the demand for compute continues to accelerate," said Executive Chairman Frank Holmes. "Our renewable campuses enable low-cost, rapid deployment in months - not years. With Bitcoin's next cycle and AI demand surging, our dual engine model is positioned to capture both supercycles in real time with cash flow from Bitcoin operations driving exponential HPC growth."

Aydin Kilic, President & CEO, added: "HIVE's Paraguay buildout, expanding our global footprint from 6 to 25 EH/s in just six months, has become our model for future growth and our playbook for creating large-scale, renewable digital infrastructure. With one of the world's most efficient Bitcoin mining fleets at 17.5 J/TH and BUZZ HPC ranked number one globally for AI cloud network download speed, we have created a growth flywheel poised to accelerate even further in 2026 and beyond. Our dual engines of growth in data center development for both Tier I Bitcoin mining and Tier III+ HPC conversion compliment our strategy to maximize ROIC in capital deployment."

**About HIVE Digital Technologies Ltd.**

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.

------

For more information, visit <u>hivedigitaltech.com</u>, or connect with us on:

<u>X:</u> <u>https://x.com/HIVEDigitalTech</u>

YouTube: <u>https://www.youtube.com/@HIVEDigitalTech</u>

Instagram:<u>https://www.instagram.com/hivedigitaltechnologies/</u>

LinkedIn: <u>https://linkedin.com/company/hiveblockchain</u>

On Behalf of HIVE Digital Technologies Ltd.

*"Frank Holmes"*

Executive Chairman

For further information, please contact:

**Nathan Fast, Director of Marketing and Branding**

**Frank Holmes, Executive Chairman**

**Aydin Kilic, President & CEO**

Tel: (604) 664-1078

*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.*

***Forward-Looking Information***

*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 construction of the Company's site in Yguazu, Paraguay and its potential specifications and performance upon completion, the timing of it becoming operational; hash rash growth projections; 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; the prospectivity of the BUZZ HPC operations and the ability of the Company to successfully expand the infrastructure and operate in this sector, the receipt of government consents; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.*

------

*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 possibility of flaws in the implementation of the Paraguay build-out and energization; 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; an inability to apply the Company's data centers to HPC/AI opportunities on a profitable basis; a failure to secure long-term contracts associated with HPC/AI customers on terms which are economic or at all; 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> .*

*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.*

------

To view the source version of this press release, please visit <u>https://www.newsfilecorp.com/release/277551</u>

------

## Exhibit 99.3

------

**HIVE Digital Technologies Enters Colombia's Deep Andean Capital Markets With Colombia Listing, Advancing Its Role as Latin America's Emerging Leader in Green AI and Bitcoin Infrastructure**

**This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated November 25, 2025 to its short form base shelf prospectus dated October 31, 2025.**

San Antonio, Texas--(Newsfile Corp. - December 11, 2025) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (BVC: HIVECO) (the "Company" or "HIVE"), a diversified multinational digital infrastructure company, is expanding its Latin American capital-markets presence with a new listing on the Colombian Stock Exchange-one of the region's deepest, broadest, and most institutionally connected exchanges. As part of the integrated Andean marketplace linking Colombia, Peru, and Chile, the exchange provides regional investors with enhanced access and cross-border liquidity.

By joining this platform, HIVE becomes <u>the first</u> <u>Bitcoin-and-AI</u> <u>infrastructure company</u> to list in Colombia, reinforcing its position as a major renewable-powered data center operator in Latin America and complementing its long-standing listings in Canada, Germany, and on Nasdaq.

This milestone strengthens HIVE's visibility among investors seeking exposure to sustainable high-performance computing, Bitcoin mining, and next-generation AI infrastructure across the Americas. It also aligns with Colombia's emergence as a regional technology hub and its <u>growing participation in global AI governance frameworks</u>.

**The AI Industrial Revolution: How Bitcoin Miners Became the Early Pioneers**

The world is entering a massive AI industrial revolution, with <u>global demand for compute power far outpacing traditional</u> <u>data-center</u> <u>capacity</u>. Industrial AI requires enormous energy throughput, advanced cooling, and highly scalable digital infrastructure-conditions that few industries were prepared to meet.

Bitcoin miners were <u>among the first</u> to solve these problems.

Long before AI hyperscalers began competing for power and GPUs, Bitcoin miners built:

* large-scale compute clusters

* on surplus or stranded energy

* with high uptime requirements

* across remote and renewable energy markets

This early pioneering work demonstrated that renewable, low-cost, underutilized energy could support mission-critical digital infrastructure at industrial scale. That foundation is now enabling the rise of Tier III+ HPC data centers stacked with GPU clusters, the new backbone of global AI computing.

HIVE was among the first to recognize this convergence-and is now executing one of the industry's clearest transitions from Tier I Bitcoin mining to Tier III AI and HPC cloud infrastructure.

------

**Tiered Data Center Growth Strategy: From Tier I Surplus Energy to Tier III AI Compute**

* **Foundational Tier I Buildout in Paraguay**: HIVE has developed large-scale Tier I data centers in Paraguay powered entirely by hydroelectricity. These facilities support more than 25 Exahash per Second ("EH/s") of Bitcoin mining capacity, generating stable, recurring cash flow. Bitcoin miners like HIVE proved early on that large compute clusters could monetize stranded and surplus energy, paving the way for today's AI-driven data-center expansion.

* **Upgrading to Advanced Tier III+ HPC:** Building on this foundation, HIVE is converting key locations-including operations in Sweden and Canada-from Bitcoin-only Tier I sites into Tier III+ liquid-cooled HPC data centers. These facilities can host next-generation GPUs and hyperscale AI workloads, materially expanding HIVE's addressable market and accelerating time to revenue from enterprise AI and HPC cloud customers.

* **Scaling GPU Capacity Across Renewable Power:** HIVE's long-term roadmap includes deploying over 36,000 GPUs dedicated to AI and HPC cloud services. Each expansion phase is engineered around renewable, surplus, or stranded energy sources to maximize sustainability, resilience, and low-cost performance for compute-intensive applications.

**Multinational Operations and Latin America Expansion**

HIVE now operates across nine time zones and five languages, with teams and infrastructure spanning Canada, Sweden and Paraguay. This global footprint strengthens regulatory agility, operational resilience, and local market development.

**Paraguay as the Regional Blueprint**

HIVE's Paraguay expansion-scaling toward 400 MW of renewable capacity-serves as its blueprint for community-focused digital infrastructure. The initiative includes local hiring, educational partnerships, and green-energy programs that support economic development and digital skills across the region.

**A Strategic Inflection Point for Andean Investors**

The Bogotá listing marks a strategic inflection point, opening a new, efficient capital-markets channel for investors across the interconnected Andean exchanges of Colombia, Peru, and Chile. It reinforces HIVE's long-term commitment to building responsible, sustainable digital infrastructure in Latin America at a time when the region is expanding its technology footprint and deepening its role in global AI transformation.

**Revenue Momentum and Strategic Positioning**

HIVE <u>recently reported</u> record quarterly revenue of $87.3 million, representing approximately 285% year-over-year growth, and gross operating margin of $42.4 million (49%), driven by strong Bitcoin production and rapidly rising demand for the company's BUZZ HPC cloud platform.

HIVE is executing a dual-engine strategy:

&nbsp;&nbsp;&nbsp;&nbsp;1. High-efficiency Bitcoin mining provides recurring cash flow.

&nbsp;&nbsp;&nbsp;&nbsp;2. Cash flow is reinvested into Tier III+ AI-ready data center buildouts, powering long-cycle HPC and AI infrastructure growth.

This flywheel positions HIVE to benefit from both Bitcoin's global adoption and the growth of industrial AI computing.

------

**A New Convergence: Bitcoin Mining Meets Industrial AI**

HIVE's evolution from Tier I mining assets to advanced Tier III AI data centers reflects a global convergence between digital-asset computation and industrial artificial intelligence. Bitcoin miners were <u>among the first</u> to demonstrate that massive, energy-intensive compute clusters could thrive on renewable, surplus, or stranded energy. Today, that expertise is driving the rise of GPU-dense HPC centers, enabling scientific computing, enterprise AI, and hyperscale cloud workloads.

As the AI super-cycle accelerates, HIVE is positioning itself at this intersection-bridging renewable energy, high-performance computing, and next-generation digital services. With its new listing on the Colombian Stock Exchange, HIVE now provides Latin American investors direct access to this transformation and to the industrial AI revolution reshaping global computing.

**About HIVE Digital Technologies Ltd.**

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.

For more information, visit <u>hivedigitaltech.com</u>, or connect with us on:

<u>X:</u> <u>https://x.com/HIVEDigitalTech</u>

YouTube:<u>https://www.youtube.com/@HIVEDigitalTech</u>

Instagram: <u>https://www.instagram.com/hivedigitaltechnologies/</u>

LinkedIn:<u> </u><u>https://linkedin.com/company/hiveblockchain</u>

On Behalf of HIVE Digital Technologies Ltd.

*"Frank Holmes"*

Executive Chairman

For further information, please contact:

**Nathan Fast, Director of Marketing and Branding**

**Frank Holmes, Executive Chairman**

**Aydin Kilic, President & CEO**

Tel: (604) 664-1078

*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.*

To view the source version of this press release, please visit <u>https://www.newsfilecorp.com/release/277531</u>

------