đ¨ @HIVEDigitalTech āϏā§āĻĒāώā§āĻāĻāĻžāĻŦā§ āĻ āύā§āϏāϰāĻŖ āĻāϰāĻā§ (āĻāĻŦāĻ āϤā§āĻŦāϰāĻžāύā§āĻŦāĻŋāϤ āĻāϰāĻā§) āϏā§āĻ āĻāĻāĻ âāĻĄā§āϝāĻŧāĻžāϞ-āĻāĻā§āĻāĻŋāύâ $BTC āĻŽāĻžāĻāύāĻŋāĻ + AI/HPC āĻĒāĻŋāĻāĻ, āϝāĻž $IREN-āĻāϰ āĻŦāĻŋāĻĒā§āϞ āĻĒā§āύāϰā§āĻŽā§āϞā§āϝāĻžāϝāĻŧāύāĻā§ āϏāĻŽāϰā§āĻĨāύ āĻāϰā§āĻāĻŋāϞ đ $100+ / $HIVE āĻšāϞ āĻĢā§āϞā§āϰ! Cc: $NBIS $CRWV $IREN $CIFR $KEEL â 2025 āϏāĻžāϞ⧠AI āϰāĻžāĻāϏā§āĻŦ āĻŦāĻŋāϏā§āĻĢā§āϰāĻŋāϤ āĻšāĻāϝāĻŧāĻžāϰ āϏāĻžāĻĨā§ āϏāĻžāĻĨā§ āĻāĻāĻŋ $IREN-āĻāϰ āĻļā§āϝāĻŧāĻžāϰāĻā§ āĻļāϤāĻžāϧāĻŋāĻ āĻļāϤāĻžāĻāĻļ āĻŦāĻžāĻĄāĻŧāĻŋāϝāĻŧā§āĻāĻŋāϞ, āĻāĻŦāĻ āĻŦāĻžāĻāĻžāϰ āĻšāĻžāĻāĻŦā§āϰāĻŋāĻĄ āĻŽāĻĄā§āϞāĻā§ āĻĒā§āϰāϏā§āĻā§āϤ āĻāϰā§āĻāĻŋāϞāĨ¤ đī¸ $HIVE-āĻāϰ 15 āĻāĻĒā§āϰāĻŋāϞ, 2026-āĻāϰ āĻā§āώāĻŖāĻž: $75M (āĻ āĻĒāĻļāύ āϏāĻš $90M) 0% āϰā§āĻĒāĻžāύā§āϤāϰāϝā§āĻā§āϝ āϏāĻŋāύāĻŋāϝāĻŧāϰ āύā§āĻ, 2031-āĻāϰ āĻāύā§āϝ, āĻĒā§āϰāĻžāĻāĻā§āĻ āĻ āĻĢāĻžāϰāĨ¤ āĻāϝāĻŧāĻāĻŋ āϏāϰāĻžāϏāϰāĻŋ $NVDA GPU āĻā§āϰāϝāĻŧ, āĻĄā§āĻāĻž āϏā§āύā§āĻāĻžāϰ āĻāύā§āύāϝāĻŧāύ, āĻāĻŦāĻ āϏāĻžāϧāĻžāϰāĻŖ āĻāϰā§āĻĒā§āϰā§āĻ āĻāĻĻā§āĻĻā§āĻļā§āϝ⧠(āϏāĻšāĻžāϝāĻŧāĻ āĻā§āĻŽā§āĻĒāĻžāύāĻŋāϰ āĻŽāĻžāϧā§āϝāĻŽā§) āϝāĻžāĻŦā§āĨ¤ đ āϤāĻžāϰāĻž āĻāĻāĻžāĻĄāĻŧāĻžāĻ āĻĄāĻŋāϞāĻŋāĻāĻļāύ āϏā§āĻŽāĻŋāϤ āĻāϰāϤ⧠capped-call āĻā§āϰāĻžāύāĻā§āĻāĻļāύ āĻāϰāĻā§, āĻāĻŦāĻ āĻāĻāĻāĻŋ āĻļāϰā§āϤāϏāĻžāĻĒā§āĻā§āώ TSX āĻāĻĒāϞāĻŋāϏā§āĻāĻŋāĻāϝāĻŧā§āϰ (āĻĒā§āϰāϤā§āϝāĻžāĻļāĻŋāϤ ~30 āĻāĻĒā§āϰāĻŋāϞ, 2026, 30 āĻā§āύ-āĻāϰ āĻŽāϧā§āϝ⧠āĻļāϰā§āϤāĻā§āϞāĻŋ āĻĒā§āϰāĻŖā§āϰ āĻāĻĒāϰ āύāĻŋāϰā§āĻāϰāĻļā§āϞ)āĻ āĻā§āώāĻŖāĻž āĻāϰāĻā§āĨ¤ đ āĻā§āύ āĻāĻāĻŋ $IREN-āĻāϰ āĻĒāĻĨāĻā§ āĻāϤāĻāĻžāĻ āĻĒā§āϰāϤāĻŋāĻĢāϞāĻŋāϤ āĻāϰāĻā§ â IREN-āĻāϰ āĻĒā§āϞā§āĻŦā§āĻ (āϝāĻž āĻāĻžāĻ āĻāϰā§āĻāĻŋāϞ): āĻĒā§āύāĻāĻŦā§āϝāĻŦāĻšāĻžāϰāϝā§āĻā§āϝāĻļāĻā§āϤāĻŋ-āϏāĻā§āώāĻŽ āĻŽāĻžāĻāύāĻŋāĻ āϏāĻžāĻāĻāĻā§āϞāĻŋāĻā§ Tier III/III+ AI āĻā§āϞāĻžāĻāĻĄ āĻĄā§āĻāĻž āϏā§āύā§āĻāĻžāϰ⧠āϰā§āĻĒāĻžāύā§āϤāϰāĻŋāϤ āĻāϰāĻž, āĻŦāĻĄāĻŧ hyperscaler āĻā§āĻā§āϤāĻŋ (āϝā§āĻŽāύ, $9.7B Microsoft-āĻāϰ āĻā§āĻā§āϤāĻŋ) āύāĻŋāĻļā§āĻāĻŋāϤāĻāϰāĻŖ, GPU-āĻāϰ āĻĒāϰāĻŋāĻŽāĻžāĻŖ āĻĻā§āϰā§āϤ āĻŦā§āĻĻā§āϧāĻŋ, āĻāĻŦāĻ BTCįžéāĻĢā§āϞā§/āĻŽāĻžāĻāύāĻŋāĻ āϏā§āĻā§āϞāĻā§ āĻŦā§āϰāĻŋāĻ āĻšāĻŋāϏā§āĻŦā§ āĻŦā§āϝāĻŦāĻšāĻžāϰāĨ¤ 2025-āĻ AI-āĻāϰ āĻāϝāĻŧ āĻŦāĻŋāϏā§āĻĢā§āϰāĻŋāϤ āĻšāĻāϝāĻŧāĻžāϰ āϏāĻžāĻĨā§ āϏāĻžāĻĨā§āĻ IREN-āĻāϰ āĻļā§āϝāĻŧāĻžāϰ 100%+āĻŦā§āĻĻā§āϧāĻŋāĨ¤ â HIVEāĻ exactly same thing-āĻāĻž āĻāϰāĻā§: āϤāĻžāϰāĻž ė´ë¯¸ âāĻĄā§āϝāĻŧāĻžāϞ-āĻāĻā§āĻāĻŋāύâ (BTC mining AI/HPC growth-āĻā§ funding) strategy-āĻāĻž branding-āĻāϰā§āĻā§āĨ¤ 25 EH/s mining capacity-āĻ reach-āĻāϰā§āĻā§, Swedeen, Canada (Bell Canada-āĻāϰ partnership-āĻ 4x AI capacity expansion, 16.6 MW, 2,000+ GPUs per site), and Paraguay-āĻ siteāĻā§āϞāĻŋ liquid-cooled Tier III+ HPC facilities-āĻ convert-āĻāϰāĻā§āĨ¤ GPU roots-āĻāĻž 1999-āĻ ETH days-āĻāϰ, pure ASIC miners-āĻĻā§āϰ vs advantageāĨ¤ AI workloads per MW BTC mining-āĻāϰ 3â25x more pay, exactly like IRENāĨ¤ đ§ This note offering is the capital fuel to accelerate exactly that GPU/data-center rampânon-dilutive on day one (0% coupon, capped calls), just like the financing structures growth miners use in the AI supercycle. WHY: Extremely bullish? â Real growth funding hottest sector (AI compute demand is insatiable; NVIDIA Blackwell supply is tight). â TSX uplisting should bring more institutional/ETF flows (better liquidity than TSXV). â HIVE is already executing: record production, Paraguay scale-up, Swedish conversion, Canadian AI colocationâall without heavy prior dilution. Bottom line: This is not random dilutionâitâs strategic funding for the $IREN-style AI pivot that has already worked spectacularly for peers. If $HIVE deploys the capital as aggressively and successfully as theyâve scaled mining (and as $IREN did with GPUs/cloud), itâs bullish for the multi-year horizon. HIVE is positioning as one of the âlast hidden gemsâ after IRENâs run đ The announcement itself is a clear signal theyâre all-in on the same high-ROI AI path that re-rated IREN. Cc: Grok đ§

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