Business Description

2. Basis of Presentation The consolidated financial statements are presented in USD and have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") including the applicable rules and regulations of the Securities and Exchange Commission ("SEC") regarding financial reporting and include the results of the Company and its wholly-owned subsidiaries. Any reference in these notes to applicable guidance is meant to refer to the authoritative guidance found in the Accounting Standards Codification ("ASC") and Accounting Standards Update ("ASU"). These financial statements are presented in U.S. dollars, which is the functional currency of the Company. (i) Use of estimates The preparation of these financial statements in conformity with U.S. GAAP requires management to make certain estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities, as of the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. On an ongoing basis, the Company evaluates the estimates used, which include but are not limited to the: estimates in the determination of the fair value of assets acquired and liabilities assumed in connection with acquisitions; discount rate in determining lease liabilities; recoverability of long-lived assets including impairment of property, plant and equipment and their associated useful lives; and assessment of the contingencies and tax liabilities. These estimates, judgments, and assumptions are reviewed periodically, and the impact of any revisions are reflected in the financial statements in the period in which such revisions are made. Actual results could differ from those estimates, judgments, or assumptions, and such differences could be material to the Company's consolidated financial position and results of operations. (ii) Basis of consolidation These consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. Subsidiaries are entities in which the Company has a controlling interest or is the primary beneficiary of a variable interest entity. Subsidiaries are fully consolidated from the date control is transferred to the Company and are de-consolidated from the date control ceases. The consolidated financial statements include all the assets, liabilities, revenues, expenses and cash flows of the Company and its subsidiaries after eliminating intercompany balances and transactions. These consolidated financial statements include the accounts of the Company and the following entities: Subsidiaries Jurisdiction of incorporation Functional currency Ownership interest March 31, 2026 HIVE Blockchain Switzerland AG Switzerland U.S. dollar 100% HIVE Blockchain Iceland ehf. Iceland U.S. dollar 100% Bikupa Datacenter AB Sweden U.S. dollar 100% Bikupa Datacenter 2 AB Sweden U.S. dollar 100% Bikupa Real Estate AB Sweden U.S. dollar 100% HIVE Digital Data Ltd. Bermuda U.S. dollar 100% Liv Eiendom AS Norway U.S. dollar 100% 9376-9974 Quebec Inc. Canada Canadian dollar 100% HIVE Atlantic Datacentres Ltd Canada Canadian dollar 100% Buzz Performance Computing Ltd* Bermuda U.S. dollar 100% Buzz Performance Cloud Inc.** Canada Canadian dollar 100% Zunz S.A. Paraguay U.S. dollar 100% W3X S.A. Paraguay U.S. dollar 100% HIVE Holdings Paraguay 1 Ltd Bermuda U.S. dollar 100% HIVE Holdings Paraguay 2 Ltd Bermuda U.S. dollar 100% BUZZ High Performance Computing Inc. Canada Canadian dollar 100% Megawatt Mining Corp. Canada Canadian dollar 100% HIVE Bermuda 2026 Ltd.*** Bermuda U.S. dollar 100% * Hive Performance Computing Ltd. on May 31, 2025 completed a name change to Buzz Performance Computing Ltd. ** Hive Performance Cloud Inc. on December 18, 2025 completed a name change to Buzz Performance Cloud Inc. ***HIVE Bermuda 2026 Ltd. was incorporated April 8, 2026. (refer to Subsequent Event note) (iii) Foreign currency Effective April 1, 2024, the Company's functional currency changed from the Canadian dollar to the U.S. dollar, which is prospectively accounted for in these consolidated financial statements. The change in functional currency better reflects the ongoing activities and operations of the Company.…