UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 6-K

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

For the month of June, 2025

Commission File Number: 001-40398

HIVE Digital Technologies Ltd.
(Translation of registrant's name into English)

British Columbia, Canada
(Jurisdiction of incorporation or organization)

Suite 128, 7900 Callaghan Road

San Antonio, Texas 78229 United States of America

(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, 99.3, 99.4, 99.5 and 99.6 to this Report on Form 6-K 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.

EXHIBIT INDEX

SIGNATURES

Date: June 24, 2025

HIVE Digital Technologies Surpasses 11 EH/s Bitcoin Hashrate Milestone as 100 MW Phase 1 in Paraguay Completed Ahead of Schedule - Company on Track to Reach 25 EH/s by Thanksgiving

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 September 11, 2024.

San Antonio, Texas--(Newsfile Corp. - June 20, 2025) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the "Company" or "HIVE"), a global leader in sustainable digital infrastructure, is pleased to announce it has surpassed 11 Exahash per second (EH/s) of global Bitcoin mining hashrate, achieving an operational hashrate of 11.4 EH/s. This milestone marks the early and successful completion of Phase 1 (100 MW) of HIVE's Yguazú site in Paraguay - a pivotal step in its mission to scale to 25 EH/s by American Thanksgiving 2025.

Over the past five weeks, HIVE has steadily increased its installed hashrate by approximately 1 EH/s per week, reaching 11 EH/s last week. The Company has since grown to 11.5 EH/s and expects to maintain this level under typical operating conditions. As summer temperatures rise across HIVE's Canadian data centers, minor fluctuations in daily hashrate are expected as the Company optimizes ASIC performance for seasonal conditions.

A Strategic, Sustainable Expansion

HIVE's expansion into Paraguay reflects its long-term vision of harnessing low-cost, 100% renewable hydroelectricity in nations aligned with U.S. interests and committed to sustainable growth. The Company has fully funded its expansion and is making significant progress with Phase 2 of its Paraguay build-out. New Bitmain S21+ Hydro ASICs have arrived and are being prepared for deployment in state-of-the-art hydro containers, with an expected ramp-up to 18 EH/s by late summer.

Photo: Momentum builds as HIVE prepares to launch its second 100 MW facility in Yguazú.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/5335/256228_b7dbb46a34656a00_001full.jpg

Delivering Value for Stakeholders and Communities Alike

HIVE's investment in Paraguay goes beyond digital infrastructure - it's an investment in communities. In partnership with local authorities, HIVE has:

• Created hundreds of construction jobs, supporting the expansion of Paraguay's electrical grid infrastructure.
• Funded and implemented the installation of air conditioning units in junior schools, providing a better learning environment for children.
• Supported the installation of new night lighting across the streets of Valenzuela, enhancing public safety and quality of life.
• Committed to long-term economic benefits by paying for energy in U.S. dollars, reinforcing the local currency and promoting economic stability.

Photo: President and CEO Aydin Kilic, Operations Manager Carlos Torres, and Country President Gabriel Lamas at HIVE's Yguazú site.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/5335/256228_b7dbb46a34656a00_002full.jpg

Leadership Commentary

Frank Holmes, Co-Founder and Executive Chairman of HIVE, stated: "Reaching 11 EH/s more than two weeks ahead of schedule demonstrates HIVE's ability to rapidly scale and operate at the highest levels. We're proud to build this state-of-the-art infrastructure in Paraguay - a nation that shares our long-term vision and embraces the benefits of sustainable digital infrastructure. Our expansion benefits both our shareholders and the local communities that host and support our facilities. We are well-positioned to continue this growth trajectory and are fully committed to reaching 25 EH/s by American Thanksgiving 2025."

Aydin Kilic, President and CEO of HIVE, added: "Having recently toured our sites in Paraguay, I'm deeply impressed by the quality, efficiency, and professionalism of our operations. Our data centers in Yguazú and Valenzuela are truly world-class facilities - a testament to the hard work of our team and the strong collaboration with local partners. We're on schedule to ramp to 18 EH/s this summer, and remain confident in achieving 25 EH/s by American Thanksgiving. Together, we're building a future where digital infrastructure and sustainable growth go hand-in-hand."

Photo: Aerial viewof HIVE's growing Yguazú campus.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/5335/256228_b7dbb46a34656a00_003full.jpg

Upcoming Earnings Call

HIVE will release its fiscal Q4 and full-year results for the period ended March 31, 2025, on Thursday, June 26, 2025, before market open. An earnings conference call and webcast will follow at 8:00 AM EST.

Click here to register and participate.

About HIVE Digital Technologies Ltd.

Founded in 2017 as the first publicly-traded crypto miner on the TSX Venture Exchange, HIVE Digital Technologies Ltd. builds and operates sustainable blockchain and AI infrastructure powered exclusively by renewable hydroelectric energy. With a global footprint across Canada, Sweden, and Paraguay, HIVE is committed to operational excellence, green energy leadership, and creating long-term value for its shareholders and host communities.

For more information, visit hivedigitaltech.com, or connect with us on:

X: https://x.com/HIVEDigitalTech

YouTube: https://www.youtube.com/@HIVEDigitalTech

Instagram: https://www.instagram.com/hivedigitaltechnologies/

LinkedIn: https://linkedin.com/company/hiveblockchain

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 acquisition of the newsite in Paraguay and its potential, 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; 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 enter into a binding agreement and complete the acquisition of the Paraguay site on the terms as announced or at all; 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 www.sec.gov/EDGAR and www.sedarplus.ca.

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 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.

To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/256228

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

June 20, 2025.

Item 3 News Release

The press release attached as Schedule "A" was released on June 20, 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

June 20, 2025.

SCHEDULE A

HIVE Digital Technologies Surpasses 11 EH/s Bitcoin Hashrate Milestone as 100 MW Phase 1 in Paraguay Completed Ahead of Schedule - Company on Track to Reach 25 EH/s by Thanksgiving

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 September 11, 2024.

San Antonio, Texas--(Newsfile Corp. - June 20, 2025) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the "Company" or "HIVE"), a global leader in sustainable digital infrastructure, is pleased to announce it has surpassed 11 Exahash per second (EH/s) of global Bitcoin mining hashrate, achieving an operational hashrate of 11.4 EH/s. This milestone marks the early and successful completion of Phase 1 (100 MW) of HIVE's Yguazú site in Paraguay - a pivotal step in its mission to scale to 25 EH/s by American Thanksgiving 2025.

Over the past five weeks, HIVE has steadily increased its installed hashrate by approximately 1 EH/s per week, reaching 11 EH/s last week. The Company has since grown to 11.5 EH/s and expects to maintain this level under typical operating conditions. As summer temperatures rise across HIVE's Canadian data centers, minor fluctuations in daily hashrate are expected as the Company optimizes ASIC performance for seasonal conditions.

A Strategic, Sustainable Expansion

HIVE's expansion into Paraguay reflects its long-term vision of harnessing low-cost, 100% renewable hydroelectricity in nations aligned with U.S. interests and committed to sustainable growth. The Company has fully funded its expansion and is making significant progress with Phase 2 of its Paraguay build-out. New Bitmain S21+ Hydro ASICs have arrived and are being prepared for deployment in state-of-the-art hydro containers, with an expected ramp-up to 18 EH/s by late summer.

Photo: Momentum builds as HIVE prepares to launch its second 100 MW facility in Yguazú.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/5335/256228_b7dbb46a34656a00_001full.jpg

Delivering Value for Stakeholders and Communities Alike

HIVE's investment in Paraguay goes beyond digital infrastructure - it's an investment in communities. In partnership with local authorities, HIVE has:

• Created hundreds of construction jobs, supporting the expansion of Paraguay's electrical grid infrastructure.
• Funded and implemented the installation of air conditioning units in junior schools, providing a better learning environment for children.
• Supported the installation of new night lighting across the streets of Valenzuela, enhancing public safety and quality of life.
• Committed to long-term economic benefits by paying for energy in U.S. dollars, reinforcing the local currency and promoting economic stability.

Photo: President and CEO Aydin Kilic, Operations Manager Carlos Torres, and Country President Gabriel Lamas at HIVE's Yguazú site.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/5335/256228_b7dbb46a34656a00_002full.jpg

Leadership Commentary

Frank Holmes, Co-Founder and Executive Chairman of HIVE, stated: "Reaching 11 EH/s more than two weeks ahead of schedule demonstrates HIVE's ability to rapidly scale and operate at the highest levels. We're proud to build this state-of-the-art infrastructure in Paraguay - a nation that shares our long-term vision and embraces the benefits of sustainable digital infrastructure. Our expansion benefits both our shareholders and the local communities that host and support our facilities. We are well-positioned to continue this growth trajectory and are fully committed to reaching 25 EH/s by American Thanksgiving 2025."

Aydin Kilic, President and CEO of HIVE, added: "Having recently toured our sites in Paraguay, I'm deeply impressed by the quality, efficiency, and professionalism of our operations. Our data centers in Yguazú and Valenzuela are truly world-class facilities - a testament to the hard work of our team and the strong collaboration with local partners. We're on schedule to ramp to 18 EH/s this summer, and remain confident in achieving 25 EH/s by American Thanksgiving. Together, we're building a future where digital infrastructure and sustainable growth go hand-in-hand."

Photo: Aerial viewof HIVE's growing Yguazú campus.

To view an enhanced version of this graphic, please visit:

https://images.newsfilecorp.com/files/5335/256228_b7dbb46a34656a00_003full.jpg

Upcoming Earnings Call

HIVE will release its fiscal Q4 and full-year results for the period ended March 31, 2025, on Thursday, June 26, 2025, before market open. An earnings conference call and webcast will follow at 8:00 AM EST.

Click here to register and participate.

About HIVE Digital Technologies Ltd.

Founded in 2017 as the first publicly-traded crypto miner on the TSX Venture Exchange, HIVE Digital Technologies Ltd. builds and operates sustainable blockchain and AI infrastructure powered exclusively by renewable hydroelectric energy. With a global footprint across Canada, Sweden, and Paraguay, HIVE is committed to operational excellence, green energy leadership, and creating long-term value for its shareholders and host communities.

For more information, visit hivedigitaltech.com, or connect with us on:

X: https://x.com/HIVEDigitalTech

YouTube: https://www.youtube.com/@HIVEDigitalTech

Instagram: https://www.instagram.com/hivedigitaltechnologies/

LinkedIn: https://linkedin.com/company/hiveblockchain

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 acquisition of the newsite in Paraguay and its potential, 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; 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 enter into a binding agreement and complete the acquisition of the Paraguay site on the terms as announced or at all; 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 www.sec.gov/EDGAR and www.sedarplus.ca.

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 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.

To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/256228

HIVE Digital Technologies Announces the Acquisition of 7.2 MW Toronto Data Center for Future BUZZ HPC and Sovereign AI Development

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 September 11, 2024.

San Antonio, Texas--(Newsfile Corp. - June 23, 2025) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) ("HIVE" or the "Company"), a global leader in sustainable digital infrastructure, is pleased to announce the signing of a purchase and sale agreement to acquire a facility and its property with a total installed capacity of approximately 7.2 megawatts, located in Toronto, Canada. This strategic move marks a significant milestone in HIVE's mission to scale high-performance computing ("HPC") infrastructure and accelerate the development of a sovereign Canadian AI ecosystem through its wholly owned subsidiary, BUZZ High Performance Computing Inc. ("BUZZ HPC").

Situated in Canada's largest tech hub, this facility will serve as a foundational pillar for BUZZ HPC's next phase of growth. The acquisition will enable BUZZ HPC to deploy highly dense, liquid-cooled advanced compute infrastructure to support sovereign workloads, including large-scale AI training, inference, and cloud services tailored for Canadian enterprises, government initiatives, and AI innovators.

"This acquisition positions BUZZ HPC at the forefront of Canada's digital infrastructure evolution," said Craig Tavares, President and COO of BUZZ HPC. "Toronto is not only the largest city in Canada, but also the country's most important center for higher education, AI research, and dense fiber optic connectivity. With the explosion of demand for HPC and AI compute capacity, this Toronto site gives us a critical footprint to develop a sovereign AI data center - owned and operated in Canada by a Canadian public company - ensuring data residency, security, and national innovation leadership."

The Toronto data center provides a strategic platform to support HIVE's long-term vision of building Canada's next-generation compute infrastructure. As the world witnesses an Olympics-style competition to build sovereign data centers to meet the epic growth in AI - as seen and reported by OpenAI's hyper-growth to a $10 billion run rate in just a couple of years and over 400 million active users - HIVE is proud to contribute to a future where Canadian data, AI models, and intellectual property can be developed and hosted on Canadian soil.

This acquisition also reinforces HIVE's commitment to sustainable digital infrastructure, with the opportunity to integrate green energy sources as part of our broader green-focused goals.

Frank Holmes, Executive Chairman of BUZZ HPC and HIVE, added, "As HIVE continues to scale, so now does BUZZ announce its scale, launching our Canadian sovereign strategy. This site will be BUZZ's first owned and operated Tier 3 data center, which will be strategically aligned with sovereign incentives. We will lead Canadian technology standards in the data center industry, as we will upgrade this site to liquid-cooled Tier 3 standards to power the next generation of GPUs for AI compute. We expect, once the upgrade is complete, this facility can operate a GPU cloud of up to 5,000 next generation GPUs for AI compute."

Aydin Kilic, President and CEO of HIVE, stated, "We enthusiastically take this next step forward to drive value for HIVE shareholders through BUZZ HPC. Craig Tavares has hit the ground running and is accelerating our vision to position HIVE and BUZZ HPC as leaders in Canada's high-performance computing data center industry. His deep expertise and leadership are helping us seize this opportunity to build sovereign, Tier 3 liquid-cooled infrastructure that will power the next generation of AI and HPC workloads. With Craig at the helm of BUZZ HPC and the proven skill set of our team, we are confident in our ability to innovate and scale."

About HIVE Digital Technologies Ltd.

Founded in 2017 as the first publicly-traded crypto miner on the TSX Venture Exchange, HIVE Digital Technologies Ltd. builds and operates sustainable blockchain and AI infrastructure powered exclusively by renewable hydroelectric energy. With a global footprint across Canada, Sweden, and Paraguay, HIVE is committed to operational excellence, green energy leadership, and creating long-term value for its shareholders and host communities.

For more information, visit hivedigitaltech.com, or connect with us on:

X: https://x.com/HIVEDigitalTech

YouTube: https://www.youtube.com/@HIVEDigitalTech

Instagram: https://www.instagram.com/hivedigitaltechnologies/

LinkedIn: https://linkedin.com/company/hiveblockchain

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 acquisition of the data center facility located in Toronto, Canada on the terms as announced or at all, its potential, the timing of it becoming operational; business goals and objectives of the Company; the results of operations; the acquisition, deployment and optimization of the mining fleet and equipment, and their efficiency and aggregate computational power; the continued viability of its existing Bitcoin mining operations; 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 configure the facility in Toronto, Canada on an economic and timely basis and achieve the desired operational performance; 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 www.sec.gov/EDGAR and www.sedarplus.ca.

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 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.

To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/256446

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

June 23, 2025.

Item 3 News Release

The press release attached as Schedule "A" was released on June 23, 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

June 23, 2025.

SCHEDULE A

HIVE Digital Technologies Announces the Acquisition of 7.2 MW Toronto Data Center for Future BUZZ HPC and Sovereign AI Development

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 September 11, 2024.

San Antonio, Texas--(Newsfile Corp. - June 23, 2025) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) ("HIVE" or the "Company"), a global leader in sustainable digital infrastructure, is pleased to announce the signing of a purchase and sale agreement to acquire a facility and its property with a total installed capacity of approximately 7.2 megawatts, located in Toronto, Canada. This strategic move marks a significant milestone in HIVE's mission to scale high-performance computing ("HPC") infrastructure and accelerate the development of a sovereign Canadian AI ecosystem through its wholly owned subsidiary, BUZZ High Performance Computing Inc. ("BUZZ HPC").

Situated in Canada's largest tech hub, this facility will serve as a foundational pillar for BUZZ HPC's next phase of growth. The acquisition will enable BUZZ HPC to deploy highly dense, liquid-cooled advanced compute infrastructure to support sovereign workloads, including large-scale AI training, inference, and cloud services tailored for Canadian enterprises, government initiatives, and AI innovators.

"This acquisition positions BUZZ HPC at the forefront of Canada's digital infrastructure evolution," said Craig Tavares, President and COO of BUZZ HPC. "Toronto is not only the largest city in Canada, but also the country's most important center for higher education, AI research, and dense fiber optic connectivity. With the explosion of demand for HPC and AI compute capacity, this Toronto site gives us a critical footprint to develop a sovereign AI data center - owned and operated in Canada by a Canadian public company - ensuring data residency, security, and national innovation leadership."

The Toronto data center provides a strategic platform to support HIVE's long-term vision of building Canada's next-generation compute infrastructure. As the world witnesses an Olympics-style competition to build sovereign data centers to meet the epic growth in AI - as seen and reported by OpenAI's hyper-growth to a $10 billion run rate in just a couple of years and over 400 million active users - HIVE is proud to contribute to a future where Canadian data, AI models, and intellectual property can be developed and hosted on Canadian soil.

This acquisition also reinforces HIVE's commitment to sustainable digital infrastructure, with the opportunity to integrate green energy sources as part of our broader green-focused goals.

Frank Holmes, Executive Chairman of BUZZ HPC and HIVE, added, "As HIVE continues to scale, so now does BUZZ announce its scale, launching our Canadian sovereign strategy. This site will be BUZZ's first owned and operated Tier 3 data center, which will be strategically aligned with sovereign incentives. We will lead Canadian technology standards in the data center industry, as we will upgrade this site to liquid-cooled Tier 3 standards to power the next generation of GPUs for AI compute. We expect, once the upgrade is complete, this facility can operate a GPU cloud of up to 5,000 next generation GPUs for AI compute."

Aydin Kilic, President and CEO of HIVE, stated, "We enthusiastically take this next step forward to drive value for HIVE shareholders through BUZZ HPC. Craig Tavares has hit the ground running and is accelerating our vision to position HIVE and BUZZ HPC as leaders in Canada's high-performance computing data center industry. His deep expertise and leadership are helping us seize this opportunity to build sovereign, Tier 3 liquid-cooled infrastructure that will power the next generation of AI and HPC workloads. With Craig at the helm of BUZZ HPC and the proven skill set of our team, we are confident in our ability to innovate and scale."

About HIVE Digital Technologies Ltd.

Founded in 2017 as the first publicly-traded crypto miner on the TSX Venture Exchange, HIVE Digital Technologies Ltd. builds and operates sustainable blockchain and AI infrastructure powered exclusively by renewable hydroelectric energy. With a global footprint across Canada, Sweden, and Paraguay, HIVE is committed to operational excellence, green energy leadership, and creating long-term value for its shareholders and host communities.

For more information, visit hivedigitaltech.com, or connect with us on:

X: https://x.com/HIVEDigitalTech

YouTube: https://www.youtube.com/@HIVEDigitalTech

Instagram: https://www.instagram.com/hivedigitaltechnologies/

LinkedIn: https://linkedin.com/company/hiveblockchain

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 acquisition of the data center facility located in Toronto, Canada on the terms as announced or at all, its potential, the timing of it becoming operational; business goals and objectives of the Company; the results of operations; the acquisition, deployment and optimization of the mining fleet and equipment, and their efficiency and aggregate computational power; the continued viability of its existing Bitcoin mining operations; 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 configure the facility in Toronto, Canada on an economic and timely basis and achieve the desired operational performance; 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 www.sec.gov/EDGAR and www.sedarplus.ca.

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 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.

To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/256446

BUZZ HPC Launches Another NVIDIA Hopper GPU Cluster, as One of Canada's Leading Sovereign AI Clouds

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 September 11, 2024.

Toronto, Ontario--(Newsfile Corp. - June 24, 2025) - BUZZ High Performance Computing ("BUZZ HPC"), a wholly owned subsidiary of HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (referred to as the "Company" or "HIVE"), today announced the launch of another NVIDIA Hopper GPU cluster in Quebec - one of three supercomputing clusters it operates across Canada and Sweden. As a NVIDIA Cloud Partner, BUZZ HPC is one of the few Canadian sovereign artificial intelligence ("AI") platforms operating at scale, supporting national innovation through secure, high-performance infrastructure based in Canada. The new cluster featuring NVIDIA Hopper GPUs and scaled with the high-performance NVIDIA Quantum-2 InfiniBand networking platform, is operating near full utilization since launch. BUZZ HPC is rapidly expanding its capacity.

Since 2023, BUZZ HPC has been developing its high-performance computing ("HPC") infrastructure in Canada through the establishment of HPC data centres spanning multiple time zones and languages, through its facilities located in the Provinces of Quebec and New Brunswick. Consequently, management believes that it has positioned itself as a key pillar of Canada's AI ecosystem. BUZZ HPC proudly supports a global community including venture-backed startups, universities, and research teams who are advancing the frontiers of AI and HPC applications. BUZZ HPC's customers rely on BUZZ HPC for flexible and scalable on-demand access to GPU clusters, whether by the hour or through long-term fixed contracts.

Built for Scale. Proven Experience. Canadian Sovereignty.

Our origin as HIVE began with a deployment of approximately 130,000 GPUs in 2018 and has since evolved to operate advanced, large-scale NVIDIA GPU clusters for AI applications, composed of NVIDIA Ampere, NVIDIA Hopper, and very soon, NVIDIA Blackwell GPUs. These GPUs accelerate everything from academic research to enterprise AI applications.

Well before the current wave of AI investment, BUZZ HPC was focused on the inclusion of renewable energy and digital services. Its infrastructure supports both early-stage startups and global enterprises, with the benefit of data residency remaining in Canada.

"Amid what Management believes is growing demand for domestic AI capacity, this latest cluster supports key sectors such as generative AI, autonomous systems, legal tech, genomic medicine, customer service automation, and research institutions focused on machine learning and health sciences," said Frank Holmes, Executive Chairman of HIVE.

Why BUZZ HPC Stands Apart:

• Sovereign AI Cloud: All infrastructure and data remain within jurisdictions of Canada.
• AI-Ready Infrastructure: Cutting-edge accelerated computing infrastructure optimized for large-scale AI workloads.
• Academic & Commercial Focus: Trusted by universities, startups, and enterprise clients.
• Nationwide Economic Impact: Enabling local innovation with global reach.
• A Focus on Renewable Energy: BUZZ HPC bridges the gap between AI and renewable energy sources by fueling 100% of its datacenters with hydroelectric power.

Supporting Canada's AI Future

"BUZZ HPC delivers a sovereign AI solution rooted in Canada-with global capability," said Craig Tavares, President and COO. "We empower Canadian innovators while supporting international partners who share our vision for secure, scalable AI."

BUZZ HPC is already driving advancements in AI. Its next-generation infrastructure is a cornerstone of Canada's AI sovereignty and global competitiveness. Through its website, buzzhpc.ai, BUZZ HPC is now offering free and subsidized HPC credits to Canadian companies, research institutions, and startups to help reduce the financial and technical barriers to accessing cutting-edge computing power for AI.

BUZZ HPC: Canada's AI Cloud. Sovereign. Scalable. Ready.

To learn more or partner with BUZZ HPC, visit buzzhpc.ai or contact info@buzzhpc.ai.

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 business goals and objectives, corporate strategies and progress of BUZZ HPC; and other forward-looking information concerning the intentions, plans and future actions of BUZZ HPC and HIVE in general.

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 scale the HPC business of BUZZ HPC on an economic and timely basis and achieve the desired operational performance; a failure to secure long-term contracts associated with HPC customers on terms which are economic or at all; the construction and operation of newBUZZ HPC facilities may not occur as currently planned, or at all; expansion of existing BUZZ HPC facilities may not materialize as currently anticipated, or at all; the volatility of the digital currency market in respect of HIVE's operations; 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 www.sec.gov/EDGAR and www.sedarplus.ca.

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 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.

To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/256589

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

June 24, 2025.

Item 3 News Release

The press release attached as Schedule "A" was released on June 24, 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

June 24, 2025.

SCHEDULE A

BUZZ HPC Launches Another NVIDIA Hopper GPU Cluster, as One of Canada's Leading Sovereign AI Clouds

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 September 11, 2024.

Toronto, Ontario--(Newsfile Corp. - June 24, 2025) - BUZZ High Performance Computing ("BUZZ HPC"), a wholly owned subsidiary of HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (referred to as the "Company" or "HIVE"), today announced the launch of another NVIDIA Hopper GPU cluster in Quebec - one of three supercomputing clusters it operates across Canada and Sweden. As a NVIDIA Cloud Partner, BUZZ HPC is one of the few Canadian sovereign artificial intelligence ("AI") platforms operating at scale, supporting national innovation through secure, high-performance infrastructure based in Canada. The new cluster featuring NVIDIA Hopper GPUs and scaled with the high-performance NVIDIA Quantum-2 InfiniBand networking platform, is operating near full utilization since launch. BUZZ HPC is rapidly expanding its capacity.

Since 2023, BUZZ HPC has been developing its high-performance computing ("HPC") infrastructure in Canada through the establishment of HPC data centres spanning multiple time zones and languages, through its facilities located in the Provinces of Quebec and New Brunswick. Consequently, management believes that it has positioned itself as a key pillar of Canada's AI ecosystem. BUZZ HPC proudly supports a global community including venture-backed startups, universities, and research teams who are advancing the frontiers of AI and HPC applications. BUZZ HPC's customers rely on BUZZ HPC for flexible and scalable on-demand access to GPU clusters, whether by the hour or through long-term fixed contracts.

Built for Scale. Proven Experience. Canadian Sovereignty.

Our origin as HIVE began with a deployment of approximately 130,000 GPUs in 2018 and has since evolved to operate advanced, large-scale NVIDIA GPU clusters for AI applications, composed of NVIDIA Ampere, NVIDIA Hopper, and very soon, NVIDIA Blackwell GPUs. These GPUs accelerate everything from academic research to enterprise AI applications.

Well before the current wave of AI investment, BUZZ HPC was focused on the inclusion of renewable energy and digital services. Its infrastructure supports both early-stage startups and global enterprises, with the benefit of data residency remaining in Canada.

"Amid what Management believes is growing demand for domestic AI capacity, this latest cluster supports key sectors such as generative AI, autonomous systems, legal tech, genomic medicine, customer service automation, and research institutions focused on machine learning and health sciences," said Frank Holmes, Executive Chairman of HIVE.

Why BUZZ HPC Stands Apart:

• Sovereign AI Cloud: All infrastructure and data remain within jurisdictions of Canada.
• AI-Ready Infrastructure: Cutting-edge accelerated computing infrastructure optimized for large-scale AI workloads.
• Academic & Commercial Focus: Trusted by universities, startups, and enterprise clients.
• Nationwide Economic Impact: Enabling local innovation with global reach.
• A Focus on Renewable Energy: BUZZ HPC bridges the gap between AI and renewable energy sources by fueling 100% of its datacenters with hydroelectric power.

Supporting Canada's AI Future

"BUZZ HPC delivers a sovereign AI solution rooted in Canada-with global capability," said Craig Tavares, President and COO. "We empower Canadian innovators while supporting international partners who share our vision for secure, scalable AI."

BUZZ HPC is already driving advancements in AI. Its next-generation infrastructure is a cornerstone of Canada's AI sovereignty and global competitiveness. Through its website, buzzhpc.ai, BUZZ HPC is now offering free and subsidized HPC credits to Canadian companies, research institutions, and startups to help reduce the financial and technical barriers to accessing cutting-edge computing power for AI.

BUZZ HPC: Canada's AI Cloud. Sovereign. Scalable. Ready.

To learn more or partner with BUZZ HPC, visit buzzhpc.ai or contact info@buzzhpc.ai.

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 business goals and objectives, corporate strategies and progress of BUZZ HPC; and other forward-looking information concerning the intentions, plans and future actions of BUZZ HPC and HIVE in general.

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 scale the HPC business of BUZZ HPC on an economic and timely basis and achieve the desired operational performance; a failure to secure long-term contracts associated with HPC customers on terms which are economic or at all; the construction and operation of newBUZZ HPC facilities may not occur as currently planned, or at all; expansion of existing BUZZ HPC facilities may not materialize as currently anticipated, or at all; the volatility of the digital currency market in respect of HIVE's operations; 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 www.sec.gov/EDGAR and www.sedarplus.ca.

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 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.

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