HIVE Digital Technologies Ltd 6-K, filed Mar 13, 2025
HIVE Digital Technologies Ltd. (HIVE)
About this 6-K
HIVE Digital Technologies Ltd filed this 6-K on March 13, 2025.
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 March, 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 and 99.4 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).
EXHIBIT INDEX
SIGNATURES
| HIVE DIGITAL TECHNOLOGIES LTD. | ||
| By: | /s/ Darcy Daubaras | |
| Name: Darcy Daubaras | ||
| Title: Chief Financial Officer | ||
Date: March 13, 2025
HIVE Digital Technologies Welcomes Craig Tavares as President and Chief Operating Officer of Buzz HPC to Lead Growth in HPC and GPU Cloud Services
This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated October 3, 2024 to its short form base shelf prospectus dated September 11, 2024
San Antonio, Texas--(Newsfile Corp. - February 18, 2025) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (referred to as the "Company" or "HIVE"), a global leader in sustainable data center infrastructure, is excited to announce the appointment of Craig Tavares as President and Chief Operating Officer of Buzz HPC, where he will lead the GPU Cloud and High-Performance Computing (HPC) data center business.
About Craig Tavares
With over 20 years of experience in digital infrastructure, Tavares brings a wealth of expertise and a reputation as an innovative leader in the data center, cloud, telecom and energy industries.
Tavares began his career by helping develop a metro fiber network and internet service provider, Toronto Hydro Telecom. He later joined Cogeco, where he held leadership roles in engineering, operations, product management, and technology strategy, managing a portfolio of 20 global data centers, public clouds, IP/MPLS networks, and HPC hosting services.
At Aptum, he launched a global cloud business and secured partnerships with Microsoft and Amazon Web Services. At Apple, Tavares led product and program strategy for third-party clouds and Apple's data centers. He co-founded Kingston Co-Gen, a portfolio of power plants, where he led M&A and corporate development, and he built one of North America's first HPC data centers directly connected to a power plant.
"We are delighted to welcome Craig Tavares to the Buzz HPC team," said Frank Holmes, Co-Founder and Executive Chairman of Buzz HPC, a HIVE Digital Technologies company. "With his unique skillset of leadership, entrepreneurialism, and ethics, alongside his explicit and tacit knowledge of digital infrastructure, cloud, and high-performance computing, he is a true champion of our vision to scale our HPC business to $100M in revenue."
Throughout his career, Mr. Tavares has contributed to the growth and success of several scale-up companies in energy, HPC, big data, and AI, providing strategic insights as both an executive and advisor.
"I'm thrilled to join Buzz to scale the HPC cloud and data center business, leveraging both new and existing high-quality assets to cater to the most demanding workloads," said Craig Tavares. "Buzz already provides one of the industry's highest-performance Sovereign AI GPU platforms powered by renewable energy, and we will expand it through vertically integrated infrastructure and a suite of differentiated HPC service offerings."
HIVE Digital Technologies is confident that his leadership will be instrumental in accelerating Buzz
HPC's growth and success in the rapidly evolving cloud and HPC data center markets.
Incentive Grants
Extensive research from Harvard Business School (HBS) underscores the value of non-linear rewards and variable long-term incentives in fostering a strong organizational culture, boosting morale, and enhancing employee retention. These incentives align employees' interests with the company's long-term success, promoting innovation, resilience, and a commitment to strategic initiatives essential for sustained growth and competitive advantage.
HIVE's management continues to demonstrate strength and resilience by expanding its Bitcoin and HPC footprints-all while maintaining one of the industry's lowest general and administrative (G&A) costs per Bitcoin mined and minimizing shareholder dilution. To recognize the HIVE team's efforts, we have granted Restricted Share Units (RSUs) that will remain non-tradable for another year, ensuring that management stays focused on sustainable and responsible growth.
As part of this initiative, HIVE is granting 1,090,000 RSUs to select employees, officers, directors, and eligible consultants, including Mr. Tavares. These RSUs were issued under the company's RSU plan and are subject to the TSX Venture Exchange's statutory one-year minimum vesting period.
About HIVE Digital Technologies Ltd.
HIVE Digital Technologies Ltd. is a pioneering technology company advancing sustainable blockchain and AI infrastructure powered by green energy. As the first cryptocurrency miner to go public on the TSX Venture Exchange in 2017, HIVE has grown into a global leader in digital asset mining and AI computing. With operations in Canada, Sweden, and soon Paraguay, HIVE continues to innovate while reducing its environmental footprint.
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/241085
FORM 51-102F3
MATERIAL CHANGE REPORT
Item 1 Name and Address of Company
HIVE Digital Technologies Ltd. ("HIVE" or the "Company")
# 855 - 789 West Pender Street Vancouver, BC V6C 1H2
Item 2 Date of Material Change
March 10, 2025.
Item 3 News Release
The press release attached as Schedule "A" was released on March 10, 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
March 10, 2025.
Schedule "A"
HIVE Digital Technologies Announces February 2025 Production Results and Strategic Milestones
This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated October 3, 2024 to its short form base shelf prospectus dated September 11, 2024.
San Antonio, Texas--(Newsfile Corp. - March 10, 2025) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (referred to as the "Company" or "HIVE"), a global leader in sustainable data center infrastructure, has released its unaudited production results for February 2025 (all amounts in US dollars, unless otherwise indicated).
Key Highlights for February 2025:
- Bitcoin Production: Mined 89 BTC, bringing HIVE's HODL portfolio to 2,620 BTC, valued at $220 million as of February 28, 2025, based on a BTC closing price of approximately $84,000.
- HODL Update: The Company's Bitcoin holdings have increased by 23% year-over-year. However, on a month-over-month basis, BTC holdings saw a decline as HIVE strategically sold a portion of its BTC to invest in capital assets, including Bitfarms' 200 megawatt ("MW") hydro- powered Bitcoin mining assets in Paraguay.
- Mining Capacity: Maintained an average mining capacity of 5.6 Exahash per Second ("EH/s") with fleet efficiency at 20.9 Joules per Terahash ("J/TH"). HIVE achieved a peak BTC-only hashrate of 6.2 EH/s and a peak BTC-equivalent hashrate of 6.4 EH/s.
- Operational Efficiency: Achieved an average daily production rate of 3.2 BTC, equivalent to 16 BTC per Exahash.
Executive Commentary:
Frank Holmes, Executive Chairman of HIVE, commented: "As we continue to expand and strengthen our executive team, we are aligning top-tier leadership with our strategic focus on two of the most transformative trends of our time-Bitcoin and AI. The appointment of Craig Tavares as President and Chief Operating Officer of Buzz HPC is a testament to our commitment to driving innovation and growth in high-performance computing and GPU cloud services. With over two decades of expertise in digital infrastructure, Craig's leadership will be instrumental in scaling Buzz HPC's operations and realizing our vision of reaching $100 million in revenue. His deep industry knowledge and track record of success positions us to capitalize on the immense opportunities ahead in AI-driven computing and blockchain technologies."
Aydin Kilic, President and CEO of HIVE, added: "We are focused on executing a transformative year that positions HIVE as one the largest and most efficient Bitcoin miners in the world. Our 300 MW expansion in Paraguay to 4x our hashrate from 6 EH/s to 25 EH/s by September 2025 remains on track. We expect to complete final construction and phased energization of miners for the first 100 MWs at Yguazú and 100 MW at Valenzuela in calendar Q2, 2025, which will bring us to an estimated interim target of 18 EH/s and 18 J/TH by June 30, 2025. It will be a very exciting year of growth for HIVE. We will provide updates on our ASIC procurement strategy."
Mr. Kilic continued, "Regarding our high-performance computing GPU business unit, in the last week of February, we realized $13 million of annualized run-rate revenue from our fleet of high-performance GPUs. We are on track to reach our $20 million annualized run-rate revenue target by calendar Q2 this year, based on current growth and performance trends, with new GPU servers coming online for AI processing."
Progress In Paraguay
Luke Rossy, Chief Operating Officer of HIVE, stated: "In February, our executive team conducted a site visit to Bitfarms' Yguazú facility, gaining firsthand insights into its ongoing construction. We were extremely pleased with the progress we witnessed there and are excited to finalize the strategic acquisition of Bitfarms' 200 MW Yguazú site in Q1 2025."
Photo: Foundations for the power transformer at HIVE's 100 MW Valenzuela site.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5335/243885_da6f0f209470784c_001full.jpg
Mr. Rossy continued, "Furthermore, we continue to make excellent progress on our 100 MW Valenzuela facility. With all civil and foundation works nearing completion, the site remains on track for energization by June 2025."
About HIVE Digital Technologies Ltd.
HIVE Digital Technologies Ltd. is a pioneering technology company advancing sustainable blockchain and AI infrastructure powered by green energy. As the first cryptocurrency miner to go public on the TSX Venture Exchange in 2017, HIVE has grown into a global leader in digital asset mining and AI computing. With operations in Canada, Sweden, and soon Paraguay, HIVE continues to innovate while reducing its environmental footprint.
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 results of operations for February 2025; 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/243885
HIVE Digital Technologies Announces February 2025 Production Results and Strategic Milestones
This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated October 3, 2024 to its short form base shelf prospectus dated September 11, 2024.
San Antonio, Texas--(Newsfile Corp. - March 10, 2025) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (referred to as the "Company" or "HIVE"), a global leader in sustainable data center infrastructure, has released its unaudited production results for February 2025 (all amounts in US dollars, unless otherwise indicated).
Key Highlights for February 2025:
- Bitcoin Production: Mined 89 BTC, bringing HIVE's HODL portfolio to 2,620 BTC, valued at $220 million as of February 28, 2025, based on a BTC closing price of approximately $84,000.
- HODL Update: The Company's Bitcoin holdings have increased by 23% year-over-year. However, on a month-over-month basis, BTC holdings saw a decline as HIVE strategically sold a portion of its BTC to invest in capital assets, including Bitfarms' 200 megawatt ("MW") hydro-powered Bitcoin mining assets in Paraguay.
- Mining Capacity: Maintained an average mining capacity of 5.6 Exahash per Second ("EH/s") with fleet efficiency at 20.9 Joules per Terahash ("J/TH"). HIVE achieved a peak BTC-only hashrate of 6.2 EH/s and a peak BTC-equivalent hashrate of 6.4 EH/s.
- Operational Efficiency: Achieved an average daily production rate of 3.2 BTC, equivalent to 16 BTC per Exahash.
Executive Commentary:
Frank Holmes, Executive Chairman of HIVE, commented: "As we continue to expand and strengthen our executive team, we are aligning top-tier leadership with our strategic focus on two of the most transformative trends of our time-Bitcoin and AI. The appointment of Craig Tavares as President and Chief Operating Officer of Buzz HPC is a testament to our commitment to driving innovation and growth in high-performance computing and GPU cloud services. With over two decades of expertise in digital infrastructure, Craig's leadership will be instrumental in scaling Buzz HPC's operations and realizing our vision of reaching $100 million in revenue. His deep industry knowledge and track record of success positions us to capitalize on the immense opportunities ahead in AI-driven computing and blockchain technologies."
Aydin Kilic, President and CEO of HIVE, added: "We are focused on executing a transformative year that positions HIVE as one the largest and most efficient Bitcoin miners in the world. Our 300 MW expansion in Paraguay to 4x our hashrate from 6 EH/s to 25 EH/s by September 2025 remains on track. We expect to complete final construction and phased energization of miners for the first 100 MWs at Yguazú and 100 MW at Valenzuela in calendar Q2, 2025, which will bring us to an estimated interim target of 18 EH/s and 18 J/TH by June 30, 2025. It will be a very exciting year of growth for HIVE. We will provide updates on our ASIC procurement strategy."
Mr. Kilic continued, "Regarding our high-performance computing GPU business unit, in the last week of February, we realized $13 million of annualized run-rate revenue from our fleet of high-performance GPUs. We are on track to reach our $20 million annualized run-rate revenue target by calendar Q2 this year, based on current growth and performance trends, with new GPU servers coming online for AI processing."
Progress In Paraguay
Luke Rossy, Chief Operating Officer of HIVE, stated: "In February, our executive team conducted a site visit to Bitfarms' Yguazú facility, gaining firsthand insights into its ongoing construction. We were extremely pleased with the progress we witnessed there and are excited to finalize the strategic acquisition of Bitfarms' 200 MW Yguazú site in Q1 2025."
Photo: Foundations for the power transformer at HIVE's 100 MW Valenzuela site.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5335/243885_da6f0f209470784c_001full.jpg
Mr. Rossy continued, "Furthermore, we continue to make excellent progress on our 100 MW Valenzuela facility. With all civil and foundation works nearing completion, the site remains on track for energization by June 2025."
About HIVE Digital Technologies Ltd.
HIVE Digital Technologies Ltd. is a pioneering technology company advancing sustainable blockchain and AI infrastructure powered by green energy. As the first cryptocurrency miner to go public on the TSX Venture Exchange in 2017, HIVE has grown into a global leader in digital asset mining and AI computing. With operations in Canada, Sweden, and soon Paraguay, HIVE continues to innovate while reducing its environmental footprint.
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 results of operations for February 2025; 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/243885