This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated November 25, 2025 to its short form base shelf prospectus dated October 31, 2025.
San Antonio, Texas–(Newsfile Corp. – March 18, 2026) – HIVE Digital Technologies Ltd. (FSE: YO0), a global leader in sustainable digital infrastructure and AI compute, announced that its BUZZ AI Cloud platform in Asunción, Paraguay is now operational, featuring live GPU compute nodes catering to workloads initiated by an academic research team from Columbia University in New York.
This deployment marks the first GPU cluster to go live under HIVE’s phased strategy to integrate AI and high-performance computing (HPC) infrastructure onto its existing renewable energy capacity in Paraguay. The cluster operates within a Tier-III data center managed by Paraguay’s largest telecommunications provider, purpose-built to accommodate AI model training, inference, and computationally intensive research tasks. HIVE anticipates that the outcomes from this cluster will serve as proof of concept for AI compute capabilities between New York and Asunción, paving the way for future Tier-III data center capacity expansion in Yguazú.
The hydroelectric generation capacity of Paraguay, combined with the telecom partner’s nationwide fiber backbone, provides the essential energy and connectivity foundation to support this growth. As the demand for HPC and AI cloud solutions rises among institutional and commercial clients in South America, the pace and scope of HIVE’s Tier-III expansion in Paraguay will be driven by customer adoption and the Company’s capital resources.
Columbia University Research Team Goes Live on BUZZ Cloud
The Columbia University team utilizes the BUZZ Cloud GPU infrastructure to research large language model (LLM) pre-training, including comprehensive training of foundation models. This collaboration is a non-commercial research initiative aimed at producing performance data that will guide HIVE’s roadmap for scaling commercial HPC capacity in Paraguay. The team is focused on developing optimization algorithms to enhance model quality while minimizing computational and memory costs, employing established training metrics such as loss and perplexity alongside downstream benchmarks.
Initially working with small- to medium-scale models (ranging from 0.2B to 2B parameters) including architectures like GPT-2 and LLaMA, the team plans to scale to larger models (8B+ parameters) using multi-GPU distributed training frameworks. Their recent efforts emphasize improving and understanding Muon and MuonClip, the latter having been employed in training industry-level LLMs such as Kimi K2. Early trials indicate that Muon exhibits approximately 1.3 times greater efficiency than standard baselines by leveraging the structure of model weights.
By enabling the Columbia University research team to execute active LLM training tasks from New York on GPU infrastructure in Asunción, HIVE obtains valuable real-world performance data concerning latency, throughput, and workload management. The Company intends to utilize these insights to inform its strategy for scaling HPC capacity in Paraguay, with initial deployment objectives set for completion by 2027.
Paraguay: The Western Hemisphere’s Next Potential AI Infrastructure Frontier
Notably, Paraguay’s President Santiago Peña obtained his Master’s degree in Public Administration from Columbia’s School of International and Public Affairs (SIPA) in 2003, establishing a significant tie between the institution training LLMs on BUZZ Cloud and the nation whose clean energy powers it.
Management asserts that large-scale AI compute necessitates two resources that Paraguay can provide abundantly: reliable, low-cost electricity and robust fiber connectivity with the bandwidth and security necessary for unhindered data transmission across long distances. HIVE’s current 300-megawatt renewable energy base, sourced from hydroelectric power, paired with the telecom partner’s enterprise-grade network infrastructure, lays the groundwork to accommodate demanding workloads from clients beyond Paraguay’s borders, including North American institutional clients.
Paraguay’s economy has demonstrated strong growth in recent quarters, bolstered by stable governance and a favorable policy environment for foreign infrastructure investment. HIVE contends that these factors, along with the country’s distinctive energy profile and improving digital connectivity, position Paraguay to assume a significant role in the future of AI and high-performance computing in South America.
Strategic Outlook from HIVE Leadership
Frank Holmes, Executive Chairman of HIVE, stated, “HIVE has 300 MW of renewable hydroelectric power operational in Paraguay, with another 100 MW in development. Before scaling an AI factory, it’s prudent to beta test. This deployment marks our first live GPU compute workload in Asunción and provides the real-world performance data we need to guide our Tier-III expansion roadmap. We started in Paraguay with Bitcoin mining. Layering AI and HPC infrastructure onto that existing energy base is the next phase, and this cluster is the first step in validating that approach.”
Aydin Kilic, President and CEO of HIVE, added, “We are taking a meaningful and impactful approach to developing a solution to be a leader in GPU AI compute and HPC in South America. Having a research team from Columbia University running LLM training workloads on HIVE’s BUZZ Cloud infrastructure in Asunción is a powerful validation of what we are building. We will use this data to validate our proof of concept for GPU Cloud AI compute from New York to Asunción and to build our roadmap for large-scale HPC capacity in Paraguay by 2027.”
Founded in 2017, HIVE Digital Technologies Ltd. is the first publicly listed company to mine digital assets powered by green energy. The Company operates next-generation Tier-I and Tier-III data centers across Canada, Sweden, and Paraguay, serving both Bitcoin and high-performance computing clients. HIVE aims to deliver scalable, environmentally responsible solutions to meet the demands of the digital economy.
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