Key Highlights

• HIVE Digital reached a peak capacity of 10.4 EH/s in May, a rise from 6.6 EH/s in April.
• A new 100 MW site in Paraguay has significantly boosted the company’s expansion and sustainability.
• The company targets 25 EH/s and over 12 Bitcoin daily output by the end of 2025.

Bitcoin miner HIVE Digital Technologies (HIVE) has crossed the 10 exahash per second (EH/s) capacity mark, reflecting a 58% uptick from the previous month due to a new 100-megawatt hydro-powered site in Paraguay. The organization announced its intent to reach 25 EH/s by the conclusion of 2025.

In May, the firm mined 139 Bitcoin, averaging 4.5 BTC per day. The peak capacity reached 10.4 EH/s, while the average monthly hashrate was recorded at 8.5 EH/s. HIVE also noted a steady fleet efficiency of around 20 joules per terahash (J/TH) and increased its network share to over 1% of the global Bitcoin mining power.

The new facility symbolizes a shifting trend within the mining sector towards rapid deployment of next-generation ASIC miners in areas with plentiful renewable energy.

Co-founder Frank Holmes highlighted the company’s agility and adaptability, referencing the Buzz HPC sector, which integrates AI cloud infrastructure with Bitcoin mining operations. CEO Aydin Kilic mentioned that their summer goal is to reach 18 EH/s, aiming for a daily output of over 12 Bitcoin by Q4, potentially at a production cost less than $50,000 per Bitcoin.

HIVE operates solely on hydroelectric power across its facilities in Canada, Sweden, and Paraguay. Notably, it became the first publicly listed cryptocurrency miner on the TSX Venture Exchange in 2017.

On Friday, HIVE shares spiked by 13% in New York, benefiting from Bitcoin’s rise above $105,000.