🐝 🐝 HIVE Digital Technologies: Power Ready for AI’s Next Wave The AI economy is now limited by physical capacity, not ideas. In its latest market review, Andreessen Horowitz says technology accounted for about 76% of S&P 500 earnings growth in 2026, and calls the year’s defining theme a shift “from bits to atoms”: capital moving out of software and into chips, power, and networking. Hyperscaler profits, and increasingly debt, are funding that buildout. What they are buying is energized, usable capacity.Demand is already ahead of supply, and adoption has barely started. Compute demand continues to outrun supply. Yet only about 2% of S&P 500 companies track a metric for AI’s impact, and only about 2% of U.S. households are paying for an AI service. Current demand is a baseline, not a peak.GPUs are also holding their value. Cheaper AI has raised demand for compute rather than cutting prices. Rental rates for older chips have held up, and A100s are priced at or above where they started the year. That eases the main objection to GPU-heavy models: that the hardware depreciates too fast. HIVE Digital Technologies is built for this market. Its core asset is renewable power, not software, and it has run data centers across several countries for nearly a decade. HIVE is converting that power into Tier III AI capacity in modules, signing customers before committing capital. Bitcoin mining funds the build; AI compute adds recurring revenue. HIVE is not chasing AI demand. It owns the scarce input that demand requires. The next phase of AI belongs to whoever controls power. HIVE controls it, and is turning it into compute one contracted module at a time.