HIVE's BTC Holdings Surge 263% in a Year

Canadian-based HIVE Digital Technologies, a prominent player in the cryptocurrency mining industry, has recently witnessed a remarkable surge in its Bitcoin (BTC) holdings, marking a significant milestone for the company. The firm, headquartered in Vancouver, reported a staggering 263% increase in its BTC valuation compared to the previous year.

In the third quarter of 2024, HIVE Digital Technologies mined a total of 322 BTC, boosting its crypto holdings from 2,483 to 2,805 BTC. The total valuation of these tokens reached approximately $260 million. Frank Holmes, the executive chairman of HIVE, hailed this achievement as a record-breaking milestone for the company.

HIVE's impressive performance in BTC mining was accompanied by notable progress in its High-Performance Computing (HPC) services. The HPC vertical generated an annualized run rate of around $10 million and a total revenue of $2.5 million, marking a significant turnaround from the $7 million loss incurred the previous year.

In a strategic move to expand its market presence, HIVE Digital Technologies acquired a mining site in Paraguay in January 2025. The site, named Yguazu, will be developed in phases, potentially increasing the company's stock prices and solidifying its position as a valuable asset in the crypto mining landscape.