Hive Proves Bitcoin Mining Can Power Profit and Planet

Hive Digital Technologies, a publicly traded Bitcoin mining company, has achieved a 2% share of the global Bitcoin network capacity, marking a significant milestone in its expansion strategy. The company’s operations, powered entirely by renewable hydroelectric energy at its Phase 3 facility in Paraguay, currently operate at a hashrate of 20 exahash per second (EH/s). This capacity enables the company to mine approximately 9 Bitcoin daily, with a reported 55% margin after electricity costs. The achievement underscores the growing role of sustainable energy in digital asset mining, a sector increasingly scrutinized for its environmental impact.

The company’s green energy approach is central to its operational model. Hive’s Paraguay facility leverages hydroelectric power, which accounts for 90% of the country’s energy grid. This aligns with the company’s broader strategy to expand its global footprint using renewable energy sources. In February 2025, Hive reported mining 89 Bitcoin, with total holdings valued at $220 million as of February 28. The company’s average mining capacity of 5.6 EH/s and peak hashrate of 6.2 EH/s highlight its efficiency gains, driven by strategic investments in infrastructure.

Hive’s expansion into Paraguay has been a key driver of its growth. The company initially committed to a 100-megawatt project in the country and has since announced plans to scale to 420 megawatts, a 400% increase over eight months. This expansion is supported by Paraguay’s abundant hydroelectric resources and favorable regulatory environment. Hive’s leadership, including President Johanna Thörnblad, emphasized that the move strengthens the company’s position as a leader in sustainable mining. The facility’s scalability and low operational costs are expected to enhance profitability as Bitcoin’s price fluctuates.

Financial analysts have taken note of Hive’s progress. Stifel analysts raised their price target for the company’s shares following a series of developments, including the acquisition of new-generation ASIC hardware and the expansion of its data center portfolio. Hive’s liquidity, estimated at $100 million in cash and Bitcoin holdings, further supports its growth ambitions. The company aims to achieve a global hashrate of 15 EH/s by the end of 2025, with a target efficiency of 17 J/TH. This would position Hive as a top-tier miner in the competitive landscape.

Hive’s commitment to sustainability is also reshaping perceptions of Bitcoin mining. Executive Chairman Frank Holmes highlighted innovative practices such as using waste heat from mining operations to warm buildings in Montreal and Sweden. These initiatives align with broader industry efforts to address environmental concerns. Holmes argued that critiques of Bitcoin’s energy consumption are outdated, citing corporate investments in renewable energy as a benchmark for progress. The company’s success in leveraging green energy could serve as a model for the sector’s transition toward sustainability.

The achievement of 2% global mining capacity reflects Hive’s strategic focus on efficiency and environmental responsibility. With Bitcoin’s energy-intensive proof-of-work mechanism under global scrutiny, Hive’s model demonstrates that profitability and sustainability can coexist. As the company advances its Paraguay expansion and pursues further hashrate growth, it positions itself at the forefront of the evolving crypto mining industry.