Hive Digital Technologies (HIVE) Breaks 10 EH/s Hashrate Milestone with Hydro-Powered Paraguay Facility
Hive Digital Technologies (HIVE) has achieved a major milestone in its Bitcoin mining journey, surpassing 10 exahash per second (EH/s) in hashrate capacity — a remarkable 58% increase since April. This impressive growth is largely thanks to the successful launch of a new 100-megawatt hydro-powered mining site in Paraguay, highlighting Hive’s commitment to sustainable and scalable mining operations.
Looking ahead, Hive is on track to reach an ambitious 25 EH/s by the end of 2025, positioning itself as a significant player in the global Bitcoin mining landscape. In May alone, Hive mined 139 Bitcoin, averaging about 4.5 BTC daily. The company’s peak capacity touched 10.4 EH/s, with an average hashrate for the month at 8.5 EH/s. Notably, Hive maintains a fleet efficiency of around 20 joules per terahash (J/TH), ensuring energy use remains optimized. Currently, Hive’s network share exceeds 1% of the total global Bitcoin mining power.
This expansion reflects a broader industry trend: the race to deploy next-generation ASIC miners at scale, especially in regions abundant with renewable energy sources. Hive’s co-founder, Frank Holmes, highlighted the company’s agility and speed, pointing to its Buzz HPC division, which supports AI cloud infrastructure alongside Bitcoin mining operations. Hive’s CEO, Aydin Kilic, revealed plans to reach 18 EH/s by summer, with fleet upgrades expected to enable daily Bitcoin production of over 12 coins in the fourth quarter — potentially at a cost below $50,000 per Bitcoin.
Hive’s operations span environmentally friendly hydroelectric facilities in Canada, Sweden, and Paraguay, emphasizing its dedication to sustainable mining. Since going public in 2017 as the first crypto miner listed on the TSX Venture Exchange, Hive has solidified its position in the industry.
As Bitcoin’s price climbs above $105,000, Hive’s shares have responded positively, rising 13% in New York trading on Friday, mirroring the bullish sentiment in the mining sector overall. Hive’s strategic focus on renewable energy and technological advancement is setting a strong foundation for continued growth in the competitive world of Bitcoin mining.
