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Off the Wire Press Releases SAN ANTONIO, Texas, Oct. 28, 2026 — HIVE Digital Technologies Ltd., through its wholly owned subsidiary BUZZ High Performance Computing Inc. (BUZZ HPC), has announced that BUZZ Alpha Cloud Inc., an indirect subsidiary of the Company, has entered into a Loan and Security Agreement with an institutional lender for a single-digit, fixed-rate credit facility of approximately $129 million USD. Proceeds from the Facility will be used to buy an advanced sovereign AI GPU cluster and related infrastructure, including NVIDIA GB200 NVL72 systems, to be deployed for the Cohere 3-year fixed-term sovereign AI customer contract announced on June 18, 2026. Fixed-Rate Capital Anchored to Contracted Demand The Facility bears a fixed interest rate of 9.0% per annum over a three-year term, with principal and interest amortizing over the life of the loan. It is secured by the GPUs and related assets of BUZZ Alpha Cloud and supported by a limited recourse guarantee from BUZZ HPC and a pledge of BUZZ HPC’s equity in BUZZ Alpha Cloud. At the end of the term, HIVE will own the GPUs outright with no residual payment. BUZZ HPC is not otherwise liable under the Facility, which includes customary terms, conditions and covenants, including required debt-service coverage ratios. Growth Funded by the Infrastructure It Builds Held at the project level and secured by the infrastructure it funds, the Facility aligns the obligation with the assets and contracted revenue of the deployment it supports. BUZZ Alpha Cloud intends to repay the Facility from contract revenue over a fixed amortization schedule. Because the Facility is structured as debt, no common shares of the Company are issued in connection with it. Sovereign Compute for Canada’s AI Future Canada has a long record of world-changing breakthroughs, and its researchers helped pioneer the science behind modern artificial intelligence. Historically, much of the industrial infrastructure needed to turn that research into products and services at scale has been built outside the country. Canada’s federal AI strategy sets a clear direction: invest in Canadian technology sovereignty and keep Canadian data secure under Canadian control. As AI moves from the research lab into everyday use across government, healthcare, finance and industry, organizations increasingly want to know where their data lives, where their models run and where their compute comes from. The infrastructure funded by the Facility will keep compute within Canadian borders. BUZZ HPC believes capacity like this can help Canadian enterprises, researchers and public institutions build and run advanced AI at home, on terms they control. A Foundation Nine Years in the Making Since 2017, HIVE has been building a foundation of renewable power and digital infrastructure that now spans three continents, five languages and nine time zones, with data centres in Canada, Sweden and Paraguay. BUZZ HPC builds on that experience, designing and operating sovereign AI infrastructure from power through cloud so customers can run their own models and applications with their data and compute kept in the jurisdiction they choose. HIVE and BUZZ HPC believe infrastructure should strengthen the communities around it. That has meant supporting local hockey in Boden, Sweden, and upgrading schools and lighting city streets near HIVE’s operations in Paraguay. As an original signatory of Canada’s Responsible Data Centre Development Principles, BUZZ HPC puts community-first design at the centre of how it develops infrastructure, guided by one purpose: transforming clean energy into compute to accelerate discovery. Executive Commentary Frank Holmes, Executive Chairman, HIVE Digital Technologies, said: “We believe sovereignty in the AI era will depend on where compute lives and who controls it. Canada has the research talent, the clean energy and the institutions to help lead that future, and our vision is to build AI infrastructure that will serve humanity. This financing allows BUZZ HPC to put more of that infrastructure to work in Canada while keeping our capital structure disciplined, which we believe is how lasting value is built.” Aydin Kilic, President & CEO, HIVE Digital Technologies, commented: “We have signed $600 million of TCV for GPU cloud deals this year, across three GPU off-take contracts. Notably, the $129 million financing is applied towards the purchase of a $165 million cluster of NVIDIA GB200 GPUs, which the Company announced are being contracted on a 3-year fixed $225 million TCV with Cohere, which includes GPU compute and additional revenue attributed to connectivity and storage¹. This represents an approximate 80% loan-to-cost, at a fixed interest rate of 9.0%. The equity contribution from the Company towards the balance of the GPU cluster and associated hardware and software cost is being funded from the proceeds of the 0% interest convertible bonds issued earlier this year.” The Company notes it has issued 0% interest convertible bonds for total gross proceeds of $245 million, with net proceeds of approximately $200 million after capped calls. The Company notes that it believes the $165 million price for 2,303 NVIDIA GB200 GPUs reflects a very attractive price for NVIDIA GPUs in today’s market, as NVIDIA hardware has risen in price substantially over the last 6 months. Securing fixed-interest debt, in a market where many peers have borrowed on variable rates, puts HIVE in a strong position to have predictable contracted cash flow in the three years following the deployment of these GPUs. Currently, delivery of these GB200 GPUs is expected to occur towards the end of Q4 2026. About HIVE Digital Technologies Ltd. HIVE Digital Technologies Ltd. (TSX: HIVE) (Nasdaq: HIVE) (BVC: HIVECO) is a global leader in sustainable digital infrastructure, building and operating renewable energy-powered data centres. Through its wholly owned subsidiary, BUZZ High Performance Computing Inc., HIVE delivers sovereign AI cloud infrastructure and enterprise GPU computing services powered by next-generation accelerated computing. HIVE’s dual-engine strategy combines long-life digital infrastructure assets with renewable energy to generate diversified, long-term cash flows across AI infrastructure and digital asset mining. Source: HIVE Digital Technologies Ltd.
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