- HIVE Digital Technologies (TSXV/NASDAQ:HIVE) has exceeded 20 Exahash per second of Bitcoin mining capacity, increasing its production to nine coins per day, representing approximately two per cent of the global network
- HIVE Digital Technologies builds and operates sustainable blockchain and AI infrastructure data centers
- The small-cap stock has added 20.74 per cent year-over-year and 207.22 per cent since 2020
HIVE Digital Technologies (TSXV/NASDAQ:HIVE), a blockchain and AI infrastructure provider, has exceeded 20 Exahash per second (EH/s) of Bitcoin mining capacity, increasing its production to nine coins per day, representing approximately two per cent of the global network.
This content has been prepared as part of a partnership with HIVE Digital Technologies Ltd., and is intended for informational purposes only.
The milestone, based on figures from Blockchain.com, coincides with ongoing ASIC miner deployments at the phase-3 Valenzuela facility in Paraguay, the company’s third 100 megawatt development in the country powered by fixed-rate hydroelectric energy. More than 40 per cent of ASICs are on site, with the remainder scheduled to arrive before September ends.
According to Wednesday’s news release, HIVE has increased its hashrate by 233 per cent year-to-date, currently sporting global fleet efficiency of 18 Joules per Terahash (J/TH) and a mining margin of 55 per cent after electricity costs.
The company expects to reach 25 EH/s by U.S. Thanksgiving, which would ramp up production to about 12 Bitcoin per day.
Leadership insights
“I am deeply proud of the drive and resilience our team has shown as we scale HIVE’s global green energy operations ahead of schedule,” Frank Holmes, HIVE Digital Technologies’ co-founder and executive chairman, said in a statement. “We are gaining strong momentum across our dual engines of Bitcoin mining and AI cloud computing, two transformative forces that complement and strengthen each other. With a Navy SEAL mindset, our teams are moving forward with focus and determination across nine time zones and three continents. Also, we have hired 40 young engineers to help manage our facilities.”
“Earlier this month, we were honored to celebrate the ribbon cutting of our completed Yguazú facility, the culmination of a year of vision, strategy and relentless execution,” Holmes added. “Just as meaningful, members of our team visited a grade school in the city of Valenzuela where we were honored by seeing the joy on students who are now learning in classrooms with air conditioning, and improvements like new chalkboards made possible through our local goal to upgrade grade school facilities and provide another level of faith and hope in young minds who are the future of Paraguay. These moments remind us that our mission goes beyond technology: It’s also about creating a positive impact in the communities where we work. We are dedicated to making a difference by investing in kids’ education as a key part of HIVE’s mission, ensuring that our growth benefits future generations in a lasting way.”
“We are currently 2 per cent of the global Bitcoin mining infrastructure, which is a significant milestone considering Bitcoin’s market exceeds US$2 trillion capitalization,” commented Aydin Kilic, HIVE’s president and chief executive officer. “With ongoing policy discussions around digital asset adoption in the United States, HIVE is positioned as a globally distributed data center company with a focus on green energy. Reaching 20 EH/s is a major validation of our disciplined growth strategy and the hard work of our global team. We are delivering on our commitments: Funding is secured, infrastructure is online and every additional exahash is compounding value for our shareholders. We strive to lead the industry in return on invested capital, thereby maximizing value for our shareholders. Additionally, we believe it is essential to maintain low-cost operations at the corporate level, as reflected in the % of general and administrative costs relative to revenue.”
“During my recent visit to Paraguay, I was deeply impressed by the incredible execution of our teams on the ground,” Kilic added. “Their technical skill and organization have delivered 99 per cent uptime and strong performance. This milestone solidifies our position in the Bitcoin network and reinforces our commitment to geographic diversification, operational excellence and long-term shareholder value.”
About HIVE Digital Technologies
HIVE Digital Technologies builds and operates sustainable blockchain and AI infrastructure data centers. The company is active in Canada, Sweden and Paraguay.
The small-cap stock (TSXV/NASDAQ:HIVE) is up by 6.96 per cent trading at C$5.53 as of 9:44 am ET. Investors have gained 20.74 per cent year-over-year and 207.22 per cent since 2020.
Join the discussion: Find out what investors are saying about this crypto and AI stock on the HIVE Digital Technologies Ltd. Bullboard and make sure to explore the rest of Stockhouse’s stock forums and message boards.
Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein.
For full disclaimer information, please click here.