HIVE Digital Technologies has signed a non-binding Letter of Intent (LoI) with a sovereign Swedish technology company for the potential lease of its 32 MW Sweden facility for up to 10 years. The agreement, subject to the execution of a definitive agreement, targets a usable critical IT load of approximately 25 MW. This strategic move aims to leverage the company's existing infrastructure in Boden to meet growing high-performance computing (HPC) demands.

The LoI outlines plans to retrofit the facility to support up to 10,000 GB300 GPUs, featuring single rack densities up to 150 kW. The company intends to employ a hybrid cooling solution, combining direct-to-chip (DTC) liquid cooling and air cooling, to optimize performance. The gross utility load of the site is 32 MW, which correlates to the critical IT load of approximately 25 MW specified for the HPC colocation.

HIVE has maintained a presence in Boden since 2018, operating approximately 130,000 GPUs in the region. The company has invested in the local community, supporting initiatives and building partnerships with stakeholders. Following rigorous site visits and technical diligence, the client selected HIVE's Boden facility as its long-term HPC colocation home in Sweden.

The Boden Municipal Council previously approved HIVE's acquisition of the facility from Bodens Utvecklings AB on June 18, 2026. This LoI represents a significant step in monetizing the company's infrastructure and expanding its footprint in the HPC sector. The definitive agreement will formalize the terms and conditions of the lease.

Key Details of the Proposed Lease

HIVE Digital Technologies Ltd. has amended its Equity Distribution Agreement to authorize the sale of up to $300 million in common stock. The agreement, dated November 25, 2025, was amended and restated on June 16, 2026, with several U.S. and Canadian agents acting as sales agents or principals. This move provides the company with flexibility to raise capital through an at-the-market offering.

The company filed a prospectus supplement with the Securities and Exchange Commission (SEC) on June 17, 2026, as part of its automatic shelf registration statement on Form F-3ASR. The supplement allows for the sale of shares with an aggregate offering price of up to $214,696,023, representing the unused portion of the previously authorized amount under the Equity Distribution Agreement. This filing supersedes the previous prospectus supplement filed on November 25, 2025.

The Equity Distribution Agreement involves multiple agents, including Keefe, Bruyette & Woods, Inc., Cantor Fitzgerald & Co., Canaccord Genuity LLC, Roth Capital Partners LLC, B. Riley Securities, Inc., Northland Securities, Inc., and Rosenblatt Securities Inc. as U.S. agents. Canadian agents include Stifel Nicolaus Canada Inc., Cantor Fitzgerald Canada Corporation, Canaccord Genuity Corp., and Roth Canada, Inc.

The offering is part of HIVE Digital's broader strategy to access capital markets efficiently. The company's shelf registration statement, originally filed on November 20, 2025, under File No. 333-291676, provides a framework for future securities offerings. The prospectus supplement filed on June 17, 2026, specifically addresses the remaining capacity under the $300 million authorization.

Key Details of the Offering

The amended agreement and prospectus supplement provide HIVE Digital with the mechanism to sell shares at market prices, subject to market conditions and the company's discretion. The involvement of both U.S. and Canadian agents reflects the company's cross-border investor base and its commitment to maintaining liquidity in its stock.