HIVE Digital Technologies Ltd.
For the period ended Aug 15, 2026. Filed Aug 17, 2026.
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Aug 15, 2026 · Filed Aug 17, 2026
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Contents
EX-99.1 · Forward-Looking Information
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, and are covered by safe harbors under Canadian and US securities laws. "Forward-looking information" in this news release includes but is not limited to: the expansion of our HPC pipeline in New Brunswick, Sweden, and Toronto, their potential, the timing of becoming operational; the planned expansion in Paraguay; business goals and objectives of the Company, including its target hashrate and HPC ARR milestones and the costs to achieve the milestones; the results of operations for the three months ended June 30, 2026; the expected costs of maintaining and growing its operations; financial information related to annualized run rate; the acquisition, deployment and optimization of the hashrate fleet and equipment; the continued viability of its existing hashrate services 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 expansion of the Paraguay facilities 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 earn digital currency; the outcome of the tax dispute in Sweden; our dependence on significant customers for our HPC operations; the Company may not be able to profitablyliquidate its current digital currency inventory as required, or at all; a material decline in digital currency pricesmay 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 hashrate 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; including the rapidly evolving regulatory landscape surrounding HPC, AI and hashrate services; 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; currency exchange risks; the ability of the Company to manage its planned growth and expansion; the ability to maintain reliable and economical sources of power to operate its facilities; the impact of energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates; protection of proprietary rights; 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; revenue may not increase as currently anticipated, or at all; an increase in network difficulty may have a significant negative impact on operations; 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; 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 labor 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 atwww.sec.gov/EDGAR andwww.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-lookinginformation contained in this news release, the Company has made assumptions about the Company'sobjectives, 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 new information, future events or otherwise, other than as required by law.
HIVE Digital Technologies Ltd.Condensed Interim Consolidated Balance Sheets (expressed in thousands of United States dollars)(Unaudited)
| As at | June 30, 2026 | March 31, 2026 |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $208,039 | $23,113 |
| Amounts receivable and prepaids, net | 18,887 | 15,566 |
| Derivative asset | 30,994 | 606 |
| Investments | 10,858 | 9,741 |
| Digital currencies | 11,248 | 10,822 |
| Total current assets | 280,026 | 59,848 |
| Property, plant and equipment, net | 453,154 | 480,476 |
| Long term receivables, net | 2,051 | 2,147 |
| Deposits, net | 82,998 | 53,579 |
| Right of use assets | 106,411 | 43,096 |
| Total assets | $924,640 | $639,146 |
| Liabilities | ||
| Current liabilities | ||
| Accounts payable and accrued liabilities | $118,403 | $27,045 |
| Current portion of lease liability | 12,216 | 12,368 |
| Current portion of loans payable | 1,460 | 1,460 |
| Term loan | 1,600 | 2,038 |
| Current portion of mortgage payable | 162 | 143 |
| Warrant liability | 2,154 | 413 |
| Current income tax liability | 7,059 | 10,968 |
| Total current liabilities | 143,054 | 54,435 |
| Convertible loan - liability component | 234,872 | - |
| Loans payable | 9,457 | 9,497 |
| Lease liability | 96,237 | 31,212 |
| Mortgage payable | 18,300 | 14,348 |
| Deferred tax liability | 21 | 295 |
| Total liabilities | 501,941 | 109,787 |
| Equity | ||
| Share capital | - | - |
| Additional paid in capital | 981,154 | 944,048 |
| Accumulated other comprehensive income | 6,762 | 7,621 |
| Accumulated deficit | (565,217) | (422,310) |
| Total equity | 422,699 | 529,359 |
| Total liabilities and equity | $924,640 | $639,146 |
HIVE Digital Technologies Ltd.Condensed Interim Consolidated Statements of(Loss) Income and Comprehensive (Loss) Income (expressed in thousands of United States dollars except per share amounts)(Unaudited)
| Three months ended | ||
|---|---|---|
| For the | June 30, 2026 | June 30, 2025 |
| Revenue from digital currency mining | $72,060 | $40,797 |
| High performance computing | 7,060 | 4,814 |
| 79,120 | 45,611 | |
| Cost of sales | ||
| Operating and maintenance costs | (53,877) | (28,983) |
| High performance computing service fees | (1,055) | (809) |
| Depreciation | (53,678) | (22,011) |
| (29,490) | (6,192) | |
| Net realized and unrealized (loss) gain on digital currencies | (809) | 23,161 |
| Operating expenses | ||
| Selling, general, administrative expenses | (9,021) | (5,750) |
| Foreign exchange (loss) gain | (2,874) | 2,872 |
| Stock-based compensation | (7,082) | (5,750) |
| Total operating expenses | (18,977) | (8,628) |
| Unrealized gain on investments | 1,277 | 8,172 |
| Change in fair value of derivatives | (7,062) | 16,436 |
| Non-cash provision for regulatory liabilities | (84,650) | - |
| Recovery of sales tax receivables | - | 1,367 |
| (Loss) gain on sale of equipment | (960) | 1,312 |
| Other income | 675 | 325 |
| Finance expense | (1,336) | (288) |
| (Loss) income from operations | (141,332) | 35,665 |
| Tax expense | (1,575) | (649) |
| Net (loss) income after tax | (142,907) | 35,016 |
| Other comprehensive income (loss) | ||
| Translation adjustment | (859) | 1,856 |
| Net (loss) income and comprehensive (loss) income | $(143,766) | $36,872 |
| Basic (loss) income per share | $(0.54) | $0.19 |
| Diluted (loss) income per share | $(0.54) | $0.18 |
| Weighted average number of common shares outstanding | ||
| Basic | 266,251,300 | 182,007,767 |
| Diluted | 266,251,300 | 192,827,179 |
HIVE Digital Technologies Ltd.Condensed Interim Consolidated Statements ofCash Flows (expressed in thousands of United States dollars)(Unaudited)
| Three months ended | ||
|---|---|---|
| As at | June 30, 2026 | June 30, 2025 |
| Cash flows from operating activities | ||
| Net (loss) income for the period | $(142,907) | $35,016 |
| Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities | ||
| Revenue recognized from digital currency mined | (72,060) | (40,797) |
| Proceeds from sale of digital currency | 65,803 | 66,447 |
| Revaluation of digital currency | 809 | (23,161) |
| Depreciation | 53,678 | 22,011 |
| Non-cash lease expense | 4,966 | 2,484 |
| Unrealized gain on investments | (1,277) | (8,172) |
| Change in fair value of derivatives | 7,062 | (16,436) |
| Non-cash provision for regulatory liabilities | 84,650 | - |
| Recovery of sales tax receivables | - | (1,367) |
| Loss (gain) on sale of mining assets | 960 | (1,312) |
| Income tax expense | 1,575 | 649 |
| Accretion on convertible debt | 211 | 138 |
| Share-based compensation | 7,082 | 5,750 |
| Interest expense | 438 | 72 |
| Unrealized foreign exchange | (540) | (2,832) |
| Lease payments on operating leases | (4,120) | (867) |
| Changes in non-working capital items | ||
| Amounts receivable and prepaids | (3,225) | (17,941) |
| Accounts payable and accrued liabilities | 952 | (9,454) |
| Net cash provided by operating activities | 4,057 | 10,228 |
| Cash flows from investing activities | ||
| Deposits on equipment | (27,527) | (15,978) |
| Purchases of investments | - | (126) |
| Proceeds on disposal of equipment | 1,574 | 1,475 |
| Purchase of equipment | (3,456) | (31,379) |
| Purchase of property | (14,745) | - |
| Payment of security deposits | (3,964) | (15,948) |
| Net cash used in investing activities | (48,118) | (61,956) |
| Cash flows from financing activities | ||
| Proceeds from exercise of options | - | 738 |
| Term loan payments | (411) | (410) |
| Shares offering | 30,026 | 68,024 |
| Repayment of loans | (216) | - |
| Repayment of acquisition loan payable | - | (15,500) |
| Issuance of debentures | 199,163 | - |
| Net cash provided by financing activities | 228,562 | 52,852 |
| Effects of exchange rate changes on cash | 425 | 102 |
| Net change in cash during the period | $184,926 | $1,226 |
| Cash and cash equivalents | ||
| Beginning of the period | 23,113 | 23,375 |
| End of the period | $208,039 | $24,601 |
The accompanying notes are an integral part of these condensed interim consolidated financial statements.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.