- HIVE Digital Technologies (TSXV:HIVE), a Bitcoin mining and AI infrastructure stock, recently reached an operational hashrate of 6 exahashes per second
- The milestone represents 47 per cent year-over-year growth
- HIVE Digital Technologies is a Bitcoin mining and AI computing stock with a focus on sustainable green energy
- HIVE Digital Technologies stock has given back 26.67 per cent year-over-year but remains up by 709.43 per cent since 2020
HIVE Digital Technologies (TSXV:HIVE), a Bitcoin mining and AI infrastructure stock, recently reached an operational hashrate of 6 exahashes per second (EH/s), representing 47 per cent year-over-year growth.
A hash rate is a measure of computational power in the cryptocurrency mining process, where miners on a given blockchain network compete to guess cryptographic codes or hashes to validate new blocks and earn rewards.
The milestone follows HIVE’s upgrade of its Bitcoin mining fleet with higher-efficiency Avalon machines from Canaan. The machines will allow the company to optimize its use of newly-secured low-cost energy in Sweden under $0.02 per kilowatt-hour, which it also announced in Thursday’s news release.
Contingent on its 100 megawatt hydroelectric-powered expansion in Paraguay, HIVE expects to reach a hashrate of 15 EH/s with a fleet efficiency of 17 joules per terahash (J/TH) by the end of 2025.
HIVE held 2,713 Bitcoins on its balance sheet as of November 2024, a 67 per cent increase year-over-year. During the month, the company produced 3.42 Bitcoins per day at an average mining capacity of 5.3 EH/s.
Leadership insights
“After successfully navigating our second Bitcoin halving event as a company, HIVE is setting a new standard for efficiency and innovation in Bitcoin mining,” Frank Holmes, HIVE Digital Technologies’ executive chairman, said in a statement. “By optimizing our existing fleet and securing attractive pricing for our operations in Sweden, we are not only driving down Bitcoin production costs but also enhancing return on investment and paving the way for transformative growth in 2025.”
About HIVE Digital Technologies
HIVE is a Bitcoin mining and AI computing stock with a focus on sustainable green energy. It owns and operates datacentre facilities in Canada, Sweden and Iceland, as well as more than 38,000 commercial-grade NVIDIA graphic processing units.
HIVE Digital Technologies stock (TSXV:HIVE) is up by 4.38 per cent trading at C$4.29 per share as of 9:38 am ET. The stock has given back 26.67 per cent year-over-year but remains up by 709.43 per cent since 2020.
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(Top photo of HIVE Digital Technologies’ 32 MW facility in Boden, Sweden: HIVE Digital Technologies)
