{"success":true,"data":{"pressRelease":{"id":"139827","rtpr_id":"nNFC1JfYJZ-20260910","ticker":"HIVE","exchange":"NASDAQ","all_tickers":["HIVE"],"title":"HIVE's BUZZ HPC Appoints AI and HPC Veteran Mark Volk as Senior Vice President, Revenue; HIVE Surpasses $1 Million in Average Daily Revenue","author":"Newsfile Corp","published_at":"2026-09-10T05:00:17.433Z","article_body":"Appointment strengthens BUZZ HPC's commercial leadership as HIVE scales its\nglobal AI infrastructure platform and advances its dual-engine strategy across\nAI/HPC and Bitcoin mining.\n\nThis news release constitutes a \"designated news release\" for the purposes of\nthe Company's amended and restated prospectus supplement dated June 16, 2026\nto its short form base shelf prospectus dated October 31, 2025.\n\nSan Antonio, Texas--(Newsfile Corp. - September 10, 2026) - HIVE Digital\nTechnologies Ltd. (TSX: HIVE) (NASDAQ: HIVE) (BVC: HIVECO) (the \"Company\" or\n\"HIVE\"), through its wholly owned subsidiary BUZZ High Performance Computing\nInc. (\"BUZZ HPC\"), today announced the appointment of Mark Volk as Senior Vice\nPresident, Revenue. Unless otherwise indicated, all dollar amounts in this\nrelease are expressed in US dollars.\n\nAI infrastructure is scaling rapidly, and success increasingly depends on\nthree critical capabilities: power, compute and commercial execution.\n\nHIVE has spent years building the first two.\n\nWith the appointment of Mark Volk, BUZZ is strengthening the commercial\nrelationship required to scale the third.\n\nMr. Volk brings nearly three decades of experience building and\ncommercializing AI, high-performance computing (\"HPC\"), cloud and enterprise\ninfrastructure businesses. As Senior Vice President, Revenue, he will lead\nBUZZ HPC's global go-to-market strategy across enterprise, government,\nsovereign AI, hyperscale, research and academic markets.\n\nHis mandate is straightforward: build the revenue engine and scale it\nglobally.\n\nMr. Volk will lead commercialization of BUZZ HPC's GPU-powered AI\ninfrastructure, including sovereign AI cloud, GPU-as-a-Service (\"GPUaaS\"),\ncolocation and hybrid AI solutions, as well as strategic partnerships and\nchannel development.\n\nHe reports to Craig Tavares, President and Chief Operating Officer of BUZZ\nHPC.\n\nBuilding the Team to Scale\n\nMr. Volk has spent his career at the intersection of compute and\ncommercialization.\n\nBefore joining BUZZ HPC, he served as CEO of CiphexAI Corporation, where he\nled the commercialization of AI technologies and infrastructure.\n\nPreviously, Mr. Volk spent five years at Hewlett Packard Enterprise (\"HPE\"),\nfirst as Vice President of Federal for Canada and later as General Manager of\nHPC & AI Commercial for the Americas. During his commercial leadership, HPE's\nHPC and AI business grew approximately 425% to more than $2 billion in\nrevenue, serving government, enterprise, research and academic customers\nacross the Americas.\n\nAt IBM, Mr. Volk held worldwide leadership roles and managed a portfolio of\napproximately $1.2 billion. He also helped launch IBM's first HPC Cloud SaaS\noffering, growing that business approximately 200% in less than two years.\n\nBefore IBM, he served as Director of Worldwide HPC Sales and Marketing at\nPlatform Computing, where he helped grow the business from approximately $25\nmillion to more than $60 million before its acquisition by IBM.\n\nHis career also includes leadership roles at Corel, N-able, Tomoye and Entrust\nacross software, SaaS, cybersecurity and enterprise infrastructure.\n\nMr. Volk holds an MBA from the University of Ottawa's Telfer School of\nManagement and has a background in business administration and computer\nscience.\n\nHIVE Surpasses $1 Million in Average Daily Revenue\n\nHIVE is also pleased to provide an update on the continued scaling of its\nglobal digital infrastructure platform. The operating results below are based\non preliminary, unaudited management estimates as of the date of this release.\n\nOn August 21, 2026, the Company exceeded $1 million in daily revenue from the\ncombined production of hashrate services and GPU cloud services.\n\nSince August 21, 2026, HIVE has produced an average of approximately 12\nBitcoin per day, representing approximately 2% of global Bitcoin network\nproduction, while its GPU cloud operations have generated approximately\n$100,000 in average daily revenue.\n\nBased on prevailing Bitcoin prices, network difficulty and current operating\nconditions, these businesses have generated combined average daily revenue\nexceeding $1 million.\n\nThis is the HIVE model in action:\n\nRenewable energy → digital infrastructure → compute → revenue. The\nCompany converts electrons into compute and then exports the compute.\n\nBitcoin mining provides a high-velocity cash-generating foundation, while BUZZ\nHPC is building a recurring, contracted AI infrastructure business on top of\nthe Company's power, data-center and technical expertise.\n\nRepurposing Infrastructure for the AI Era\n\nHIVE continues to optimize its global infrastructure portfolio around its\nhighest-return opportunities.\n\nThe Company's Swedish Bitcoin mining operations, which HIVE has previously\ndiscussed, represented less than 5% of the Company's global daily revenue\nduring August.\n\nHIVE intends to wind down Bitcoin mining at these facilities as it evaluates\nthe repurposing of existing infrastructure toward higher-value HPC and AI\napplications.\n\nThe objective is simple: put every megawatt to its highest and best use.\n\nManagement Commentary\n\nFrank Holmes, Executive Chairman of HIVE Digital Technologies, said:\n\n\"Great companies are built by great teams. We spent years securing renewable\npower, building data centers and developing the technical expertise required\nto operate compute infrastructure at global scale. Now we are assembling the\npeople who can turn that infrastructure into long-term AI revenue.\n\nMark knows this market. He has built businesses at HPE, IBM and Platform\nComputing across billion-dollar platforms and high-growth environments. He\nunderstands sovereign AI, enterprise customers and how to convert a technology\npipeline into contracts.\n\nAI needs compute. Compute needs power. And power needs infrastructure. HIVE\nhas spent years building all three. Now we are building the team to scale it.\"\n\nAydin Kilic, President and CEO of HIVE Digital Technologies, said:\n\n\"Mark has worked closely with our team as a consultant for approximately nine\nmonths, so we know what he can do.\n\nDuring that period, he has helped us build our current GPU cloud demand\npipeline to more than $1 billion in total contract value potential. Year to\ndate, we have closed more than $600 million in total contract value(1) for GPU\ncloud contracts, notably including three- and five-year agreements with\ncreditworthy counterparties.\n\nWe are moving from building infrastructure to scaling a global AI platform.\nThat requires experienced operators who know how to execute. Mark is one of\nthose people.\"\n\nCraig Tavares, President and Chief Operating Officer of BUZZ HPC, said:\n\n\"I have known Mark for over a decade and he understands how to build revenue\nengines around highly complex infrastructure.\n\nHe has operated at billion-dollar scale, built businesses from the ground up\nand sold sophisticated compute solutions to governments, enterprises and\nresearch institutions. That combination is rare.\n\nWe are building BUZZ for scale, and Mark's job is to help turn our power, GPUs\nand infrastructure into long-duration contracted revenue. We want him building\nthat engine now.\"\n\nMark Volk, Senior Vice President, Revenue of BUZZ HPC, said:\n\n\"Compute is becoming one of the world's most strategically important\ninfrastructure assets.\n\nBUZZ HPC sits at the convergence of renewable energy, data centers,\naccelerated computing and sovereign AI. That creates an extraordinarily\npowerful platform.\n\nMy mission is to build the commercial engine around it: win customers, build\npartnerships and convert our infrastructure into large-scale, long-duration\ncontracts across government, enterprise and hyperscale markets.\n\nThe infrastructure is here. The demand is here. Now we scale.\"\n\nAbout HIVE Digital Technologies Ltd.\n\nHIVE Digital Technologies Ltd. is a global leader in sustainable digital\ninfrastructure, building and operating renewable energy-powered data centres.\nThrough its wholly owned subsidiary, BUZZ High Performance Computing Inc.,\nHIVE delivers sovereign AI cloud infrastructure and enterprise GPU computing\nservices powered by next-generation accelerated computing. HIVE's dual-engine\nstrategy combines long-life digital infrastructure assets with renewable\nenergy to generate diversified, long-term cash flows across AI infrastructure\nand digital asset mining.\n\nFor more information, visit hivedigitaltech.com\n(https://api.newsfilecorp.com/redirect/pp0pLUaNov), or connect with us on:\n\nX: https://x.com/HIVEDigitalTech\nYouTube: https://www.youtube.com/@HIVEDigitalTech\nInstagram: https://www.instagram.com/hivedigitaltechnologies/\nLinkedIn: https://linkedin.com/company/hiveblockchain\n\nOn Behalf of HIVE Digital Technologies Ltd.\n\n\"Frank Holmes\"\nExecutive Chairman\n\nFor further information, please contact:\n\nNathan Fast, Director of Marketing and Branding\nFrank Holmes, Executive Chairman\nAydin Kilic, President & CEO\n\nTel: (604) 664-1078\n\nAbout BUZZ High Performance Computing Inc.\n\nBUZZ High Performance Computing Inc., a wholly owned subsidiary of HIVE\nDigital Technologies Ltd., is Canada's leading sovereign AI cloud provider,\ndelivering enterprise GPU infrastructure, AI cloud services and\nhigh-performance computing solutions. BUZZ designs, builds and operates\nadvanced AI infrastructure powered by renewable energy, enabling enterprises,\nAI companies, governments, research institutions and innovators to train,\nfine-tune and deploy advanced AI models at scale. By combining purpose-built\nAI factories, next-generation accelerated computing, high-performance\nnetworking and enterprise cloud technologies, BUZZ is building the digital\ninfrastructure that powers the next generation of artificial intelligence.\n\nFor more information, visit buzzhpc.ai\n(https://api.newsfilecorp.com/redirect/qpRpoUayO3).\n\n(1)Total contract value figures referenced above represent the aggregate value\nof signed customer agreements and letters of intent for GPU cloud and related\nservices. Total contract value is not a recognized measure under U.S. GAAP, is\nnot a guarantee of future or recognized revenue, and actual revenue is\nrecognized over the applicable contract term and remains subject to the risks\ndescribed under \"Forward-Looking Information\" below.\n\nNeither the TSX, Nasdaq, nor any other securities exchange or regulatory\nauthority accepts responsibility for the adequacy or accuracy of this release.\n\nNon-GAAP and Supplementary Financial Measures\n\nThis news release refers to \"average daily revenue,\" \"operating margin,\" and\n\"total contract value,\" each of which is a supplementary financial measure\nthat is not a recognized measure under U.S. GAAP, does not have a standardized\nmeaning prescribed by U.S. GAAP, and may not be comparable to similarly titled\nmeasures presented by other companies. These measures should not be considered\nin isolation or as a substitute for measures of performance prepared in\naccordance with U.S. GAAP.\n\nForward-Looking Information\n\nExcept for the statements of historical fact, this news release contains\n\"forward-looking information\" within the meaning of the applicable Canadian\nand United States securities legislation and regulations that is based on\nexpectations, estimates and projections as at the date of this news release.\n\"Forward-looking information\" in this news release includes but is not limited\nto: the anticipated benefits and contributions of Mark Volk's appointment as\nSenior Vice President, Revenue of BUZZ HPC; BUZZ HPC's ability to execute its\ngo-to-market strategy and to convert its GPU cloud demand pipeline and total\ncontract value into recognized revenue; the Company's ability to sustain or\ngrow its average daily revenue and operating margins; the intended wind-down\nof Bitcoin mining at the Company's Swedish facilities and the repurposing of\nthat infrastructure toward higher-value HPC and AI applications, and the\ntiming thereof; business goals and objectives of the Company; and other\nforward-looking information concerning the intentions, plans and future\nactions of the Company.\n\nFactors that could cause actual results to differ materially from those\ndescribed in such forward-looking information include, but are not limited to:\nthe Company's ability to attract, retain and integrate key personnel,\nincluding recently appointed executives, and to realize the anticipated\nbenefits of such appointments; the Company's ability to convert its GPU cloud\ndemand pipeline and signed total contract value into recognized revenue on the\ntiming anticipated, or at all; the volatility of the digital currency market;\nthe Company's ability to successfully earn digital currency; our dependence on\nsignificant customers for our HPC operations; the Company may not be able to\nprofitably liquidate its current digital currency inventory as required, or at\nall; a material decline in digital currency prices may have a significant\nnegative impact on the Company's operations; the regulatory environment for\ncryptocurrency and AI infrastructure in Canada, the United States and the\ncountries where our facilities are located; economic dependence on regulated\nterms of service and electricity rates; the speculative and competitive nature\nof the technology sector; the ability to maintain reliable and economical\nsources of power to operate its facilities; the impact of energy curtailment\nor regulatory changes in the energy regimes in the jurisdictions in which the\nCompany operates; the construction, wind-down, repurposing or operation of\nfacilities may not occur as currently planned, or at all; revenue may not\nincrease as currently anticipated, or at all; global economic and financial\nmarket deterioration impeding access to capital or increasing the cost of\ncapital; reliance on key personnel; network security risks; and other related\nrisks as more fully set out in the Company's disclosure documents under the\nCompany's filings at www.sec.gov/EDGAR and www.sedarplus.ca.\n\nThe forward-looking information in this news release reflects the Company's\ncurrent expectations, assumptions, and/or beliefs based on information\ncurrently available to the Company. In connection with the forward-looking\ninformation contained in this news release, the Company has made assumptions\nabout the Company's objectives, goals or future plans, the timing thereof and\nrelated matters. The Company has also assumed that no significant events occur\noutside of the Company's normal course of business. Although the Company\nbelieves that the assumptions inherent in the forward-looking information are\nreasonable, forward-looking information is not a guarantee of future\nperformance, and accordingly, undue reliance should not be put on such\ninformation due to its inherent uncertainty. The Company disclaims any\nintention or obligation to update or revise any forward-looking information,\nwhether because of new information, future events or otherwise, other than as\nrequired by law.\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/313788","article_body_html":"","raw_payload":{"data":{"id":"nNFC1JfYJZ-20260910","title":"HIVE's BUZZ HPC Appoints AI and HPC Veteran Mark Volk as Senior Vice President, Revenue; HIVE Surpasses $1 Million in Average Daily Revenue","author":"Newsfile Corp","ticker":"HIVE","created":"2026-09-10T05:00:17.433Z","tickers":["HIVE"],"exchange":"NASDAQ","article_body":"Appointment strengthens BUZZ HPC's commercial leadership as HIVE scales its\nglobal AI infrastructure platform and advances its dual-engine strategy across\nAI/HPC and Bitcoin mining.\n\nThis news release constitutes a \"designated news release\" for the purposes of\nthe Company's amended and restated prospectus supplement dated June 16, 2026\nto its short form base shelf prospectus dated October 31, 2025.\n\nSan Antonio, Texas--(Newsfile Corp. - September 10, 2026) - HIVE Digital\nTechnologies Ltd. (TSX: HIVE) (NASDAQ: HIVE) (BVC: HIVECO) (the \"Company\" or\n\"HIVE\"), through its wholly owned subsidiary BUZZ High Performance Computing\nInc. (\"BUZZ HPC\"), today announced the appointment of Mark Volk as Senior Vice\nPresident, Revenue. Unless otherwise indicated, all dollar amounts in this\nrelease are expressed in US dollars.\n\nAI infrastructure is scaling rapidly, and success increasingly depends on\nthree critical capabilities: power, compute and commercial execution.\n\nHIVE has spent years building the first two.\n\nWith the appointment of Mark Volk, BUZZ is strengthening the commercial\nrelationship required to scale the third.\n\nMr. Volk brings nearly three decades of experience building and\ncommercializing AI, high-performance computing (\"HPC\"), cloud and enterprise\ninfrastructure businesses. As Senior Vice President, Revenue, he will lead\nBUZZ HPC's global go-to-market strategy across enterprise, government,\nsovereign AI, hyperscale, research and academic markets.\n\nHis mandate is straightforward: build the revenue engine and scale it\nglobally.\n\nMr. Volk will lead commercialization of BUZZ HPC's GPU-powered AI\ninfrastructure, including sovereign AI cloud, GPU-as-a-Service (\"GPUaaS\"),\ncolocation and hybrid AI solutions, as well as strategic partnerships and\nchannel development.\n\nHe reports to Craig Tavares, President and Chief Operating Officer of BUZZ\nHPC.\n\nBuilding the Team to Scale\n\nMr. Volk has spent his career at the intersection of compute and\ncommercialization.\n\nBefore joining BUZZ HPC, he served as CEO of CiphexAI Corporation, where he\nled the commercialization of AI technologies and infrastructure.\n\nPreviously, Mr. Volk spent five years at Hewlett Packard Enterprise (\"HPE\"),\nfirst as Vice President of Federal for Canada and later as General Manager of\nHPC & AI Commercial for the Americas. During his commercial leadership, HPE's\nHPC and AI business grew approximately 425% to more than $2 billion in\nrevenue, serving government, enterprise, research and academic customers\nacross the Americas.\n\nAt IBM, Mr. Volk held worldwide leadership roles and managed a portfolio of\napproximately $1.2 billion. He also helped launch IBM's first HPC Cloud SaaS\noffering, growing that business approximately 200% in less than two years.\n\nBefore IBM, he served as Director of Worldwide HPC Sales and Marketing at\nPlatform Computing, where he helped grow the business from approximately $25\nmillion to more than $60 million before its acquisition by IBM.\n\nHis career also includes leadership roles at Corel, N-able, Tomoye and Entrust\nacross software, SaaS, cybersecurity and enterprise infrastructure.\n\nMr. Volk holds an MBA from the University of Ottawa's Telfer School of\nManagement and has a background in business administration and computer\nscience.\n\nHIVE Surpasses $1 Million in Average Daily Revenue\n\nHIVE is also pleased to provide an update on the continued scaling of its\nglobal digital infrastructure platform. The operating results below are based\non preliminary, unaudited management estimates as of the date of this release.\n\nOn August 21, 2026, the Company exceeded $1 million in daily revenue from the\ncombined production of hashrate services and GPU cloud services.\n\nSince August 21, 2026, HIVE has produced an average of approximately 12\nBitcoin per day, representing approximately 2% of global Bitcoin network\nproduction, while its GPU cloud operations have generated approximately\n$100,000 in average daily revenue.\n\nBased on prevailing Bitcoin prices, network difficulty and current operating\nconditions, these businesses have generated combined average daily revenue\nexceeding $1 million.\n\nThis is the HIVE model in action:\n\nRenewable energy → digital infrastructure → compute → revenue. The\nCompany converts electrons into compute and then exports the compute.\n\nBitcoin mining provides a high-velocity cash-generating foundation, while BUZZ\nHPC is building a recurring, contracted AI infrastructure business on top of\nthe Company's power, data-center and technical expertise.\n\nRepurposing Infrastructure for the AI Era\n\nHIVE continues to optimize its global infrastructure portfolio around its\nhighest-return opportunities.\n\nThe Company's Swedish Bitcoin mining operations, which HIVE has previously\ndiscussed, represented less than 5% of the Company's global daily revenue\nduring August.\n\nHIVE intends to wind down Bitcoin mining at these facilities as it evaluates\nthe repurposing of existing infrastructure toward higher-value HPC and AI\napplications.\n\nThe objective is simple: put every megawatt to its highest and best use.\n\nManagement Commentary\n\nFrank Holmes, Executive Chairman of HIVE Digital Technologies, said:\n\n\"Great companies are built by great teams. We spent years securing renewable\npower, building data centers and developing the technical expertise required\nto operate compute infrastructure at global scale. Now we are assembling the\npeople who can turn that infrastructure into long-term AI revenue.\n\nMark knows this market. He has built businesses at HPE, IBM and Platform\nComputing across billion-dollar platforms and high-growth environments. He\nunderstands sovereign AI, enterprise customers and how to convert a technology\npipeline into contracts.\n\nAI needs compute. Compute needs power. And power needs infrastructure. HIVE\nhas spent years building all three. Now we are building the team to scale it.\"\n\nAydin Kilic, President and CEO of HIVE Digital Technologies, said:\n\n\"Mark has worked closely with our team as a consultant for approximately nine\nmonths, so we know what he can do.\n\nDuring that period, he has helped us build our current GPU cloud demand\npipeline to more than $1 billion in total contract value potential. Year to\ndate, we have closed more than $600 million in total contract value(1) for GPU\ncloud contracts, notably including three- and five-year agreements with\ncreditworthy counterparties.\n\nWe are moving from building infrastructure to scaling a global AI platform.\nThat requires experienced operators who know how to execute. Mark is one of\nthose people.\"\n\nCraig Tavares, President and Chief Operating Officer of BUZZ HPC, said:\n\n\"I have known Mark for over a decade and he understands how to build revenue\nengines around highly complex infrastructure.\n\nHe has operated at billion-dollar scale, built businesses from the ground up\nand sold sophisticated compute solutions to governments, enterprises and\nresearch institutions. That combination is rare.\n\nWe are building BUZZ for scale, and Mark's job is to help turn our power, GPUs\nand infrastructure into long-duration contracted revenue. We want him building\nthat engine now.\"\n\nMark Volk, Senior Vice President, Revenue of BUZZ HPC, said:\n\n\"Compute is becoming one of the world's most strategically important\ninfrastructure assets.\n\nBUZZ HPC sits at the convergence of renewable energy, data centers,\naccelerated computing and sovereign AI. That creates an extraordinarily\npowerful platform.\n\nMy mission is to build the commercial engine around it: win customers, build\npartnerships and convert our infrastructure into large-scale, long-duration\ncontracts across government, enterprise and hyperscale markets.\n\nThe infrastructure is here. The demand is here. Now we scale.\"\n\nAbout HIVE Digital Technologies Ltd.\n\nHIVE Digital Technologies Ltd. is a global leader in sustainable digital\ninfrastructure, building and operating renewable energy-powered data centres.\nThrough its wholly owned subsidiary, BUZZ High Performance Computing Inc.,\nHIVE delivers sovereign AI cloud infrastructure and enterprise GPU computing\nservices powered by next-generation accelerated computing. HIVE's dual-engine\nstrategy combines long-life digital infrastructure assets with renewable\nenergy to generate diversified, long-term cash flows across AI infrastructure\nand digital asset mining.\n\nFor more information, visit hivedigitaltech.com\n(https://api.newsfilecorp.com/redirect/pp0pLUaNov), or connect with us on:\n\nX: https://x.com/HIVEDigitalTech\nYouTube: https://www.youtube.com/@HIVEDigitalTech\nInstagram: https://www.instagram.com/hivedigitaltechnologies/\nLinkedIn: https://linkedin.com/company/hiveblockchain\n\nOn Behalf of HIVE Digital Technologies Ltd.\n\n\"Frank Holmes\"\nExecutive Chairman\n\nFor further information, please contact:\n\nNathan Fast, Director of Marketing and Branding\nFrank Holmes, Executive Chairman\nAydin Kilic, President & CEO\n\nTel: (604) 664-1078\n\nAbout BUZZ High Performance Computing Inc.\n\nBUZZ High Performance Computing Inc., a wholly owned subsidiary of HIVE\nDigital Technologies Ltd., is Canada's leading sovereign AI cloud provider,\ndelivering enterprise GPU infrastructure, AI cloud services and\nhigh-performance computing solutions. BUZZ designs, builds and operates\nadvanced AI infrastructure powered by renewable energy, enabling enterprises,\nAI companies, governments, research institutions and innovators to train,\nfine-tune and deploy advanced AI models at scale. By combining purpose-built\nAI factories, next-generation accelerated computing, high-performance\nnetworking and enterprise cloud technologies, BUZZ is building the digital\ninfrastructure that powers the next generation of artificial intelligence.\n\nFor more information, visit buzzhpc.ai\n(https://api.newsfilecorp.com/redirect/qpRpoUayO3).\n\n(1)Total contract value figures referenced above represent the aggregate value\nof signed customer agreements and letters of intent for GPU cloud and related\nservices. Total contract value is not a recognized measure under U.S. GAAP, is\nnot a guarantee of future or recognized revenue, and actual revenue is\nrecognized over the applicable contract term and remains subject to the risks\ndescribed under \"Forward-Looking Information\" below.\n\nNeither the TSX, Nasdaq, nor any other securities exchange or regulatory\nauthority accepts responsibility for the adequacy or accuracy of this release.\n\nNon-GAAP and Supplementary Financial Measures\n\nThis news release refers to \"average daily revenue,\" \"operating margin,\" and\n\"total contract value,\" each of which is a supplementary financial measure\nthat is not a recognized measure under U.S. GAAP, does not have a standardized\nmeaning prescribed by U.S. GAAP, and may not be comparable to similarly titled\nmeasures presented by other companies. These measures should not be considered\nin isolation or as a substitute for measures of performance prepared in\naccordance with U.S. GAAP.\n\nForward-Looking Information\n\nExcept for the statements of historical fact, this news release contains\n\"forward-looking information\" within the meaning of the applicable Canadian\nand United States securities legislation and regulations that is based on\nexpectations, estimates and projections as at the date of this news release.\n\"Forward-looking information\" in this news release includes but is not limited\nto: the anticipated benefits and contributions of Mark Volk's appointment as\nSenior Vice President, Revenue of BUZZ HPC; BUZZ HPC's ability to execute its\ngo-to-market strategy and to convert its GPU cloud demand pipeline and total\ncontract value into recognized revenue; the Company's ability to sustain or\ngrow its average daily revenue and operating margins; the intended wind-down\nof Bitcoin mining at the Company's Swedish facilities and the repurposing of\nthat infrastructure toward higher-value HPC and AI applications, and the\ntiming thereof; business goals and objectives of the Company; and other\nforward-looking information concerning the intentions, plans and future\nactions of the Company.\n\nFactors that could cause actual results to differ materially from those\ndescribed in such forward-looking information include, but are not limited to:\nthe Company's ability to attract, retain and integrate key personnel,\nincluding recently appointed executives, and to realize the anticipated\nbenefits of such appointments; the Company's ability to convert its GPU cloud\ndemand pipeline and signed total contract value into recognized revenue on the\ntiming anticipated, or at all; the volatility of the digital currency market;\nthe Company's ability to successfully earn digital currency; our dependence on\nsignificant customers for our HPC operations; the Company may not be able to\nprofitably liquidate its current digital currency inventory as required, or at\nall; a material decline in digital currency prices may have a significant\nnegative impact on the Company's operations; the regulatory environment for\ncryptocurrency and AI infrastructure in Canada, the United States and the\ncountries where our facilities are located; economic dependence on regulated\nterms of service and electricity rates; the speculative and competitive nature\nof the technology sector; the ability to maintain reliable and economical\nsources of power to operate its facilities; the impact of energy curtailment\nor regulatory changes in the energy regimes in the jurisdictions in which the\nCompany operates; the construction, wind-down, repurposing or operation of\nfacilities may not occur as currently planned, or at all; revenue may not\nincrease as currently anticipated, or at all; global economic and financial\nmarket deterioration impeding access to capital or increasing the cost of\ncapital; reliance on key personnel; network security risks; and other related\nrisks as more fully set out in the Company's disclosure documents under the\nCompany's filings at www.sec.gov/EDGAR and www.sedarplus.ca.\n\nThe forward-looking information in this news release reflects the Company's\ncurrent expectations, assumptions, and/or beliefs based on information\ncurrently available to the Company. In connection with the forward-looking\ninformation contained in this news release, the Company has made assumptions\nabout the Company's objectives, goals or future plans, the timing thereof and\nrelated matters. The Company has also assumed that no significant events occur\noutside of the Company's normal course of business. Although the Company\nbelieves that the assumptions inherent in the forward-looking information are\nreasonable, forward-looking information is not a guarantee of future\nperformance, and accordingly, undue reliance should not be put on such\ninformation due to its inherent uncertainty. The Company disclaims any\nintention or obligation to update or revise any forward-looking information,\nwhether because of new information, future events or otherwise, other than as\nrequired by law.\n\n\nTo view the source version of this press release, please visit\nhttps://www.newsfilecorp.com/release/313788"},"type":"article","timestamp":"2026-09-10T05:00:17.504173326Z","server_sent_at_ms":1789016417504},"received_at":"2026-09-10T05:00:17.664Z","source_url":"https://www.newsfilecorp.com/release/313788"},"analysis":{"id":"128663","press_release_id":"139827","analysis_json":{"industry":{"label":"IT Services","sector":"Information Technology"},"redFlags":["$1 million/day revenue figure is a preliminary, unaudited management estimate","Total contract value ($600M YTD) is a non-GAAP measure that includes letters of intent, not just signed contracts","~90% of the combined daily revenue still depends on Bitcoin production, exposing results to BTC price and network difficulty swings","Swedish mining wind-down and AI repurposing are tentative ('intends to', 'evaluates') with no committed timeline"],"eventType":"executive_change","narrative":"BUZZ HPC, HIVE's AI infrastructure subsidiary, appointed Mark Volk as Senior Vice President, Revenue, charged with building a global go-to-market engine across enterprise, government and sovereign AI markets after roughly three decades at HPE, IBM and Platform Computing.\n\nHIVE separately disclosed that on August 21, 2026 it exceeded $1 million in daily revenue from combined hashrate and GPU cloud services, averaging about 12 Bitcoin per day (roughly 2% of global network production) plus approximately $100,000 per day from GPU cloud.\n\nManagement says the GPU cloud demand pipeline exceeds $1 billion in total contract value potential, with more than $600 million closed year to date, including three- and five-year agreements with creditworthy counterparties.\n\nHIVE also intends to wind down its Swedish Bitcoin mining operations, which contributed less than 5% of global daily revenue in August, and repurpose that infrastructure toward higher-value HPC and AI applications.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"HIVE crosses $1M/day revenue and hires a proven commercial operator to convert a $1B+ GPU pipeline — the pivot from BTC mining to contracted AI compute is accelerating."},"keyFigures":{"customDimensions":{"btc_mined_per_day":"~12","gpu_cloud_tcv_closed_ytd":">$600 million","average_daily_revenue_usd":">$1 million","daily_revenue_milestone_date":"2026-08-21","gpu_cloud_avg_daily_revenue_usd":100000,"gpu_cloud_tcv_pipeline_potential":">$1 billion","share_of_global_btc_network_production":"~2%","swedish_ops_share_of_august_daily_revenue":"<5%","hpe_hpc_ai_revenue_growth_during_volk_tenure":"~425% to more than $2 billion"}},"quotedText":"On August 21, 2026, the Company exceeded $1 million in daily revenue from the combined production of hashrate services and GPU 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