HIVE Digital Technologies Surpasses 10 EH/s Hashrate Capacity with 58% May Increase

HIVE Digital Technologies has achieved a significant milestone, surpassing 10 exahash per second (EH/s) in hashrate capacity in May. This represents a 58% increase from the previous month, driven by the launch of a 100-megawatt hydro-powered site in Paraguay. The company's peak capacity reached 10.4 EH/s, with an average hashrate of 8.5 EH/s for the month. HIVE's fleet efficiency remained consistent at around 20 joules per terahash (J/TH), and its network share now exceeds 1% of the global Bitcoin mining power.

The new facility in Paraguay is part of a broader industry trend towards deploying next-generation ASIC miners rapidly and at scale in regions with abundant renewable power. HIVE's co-founder, Frank Holmes, highlighted the company’s speed and flexibility, noting the support of its Buzz HPC division, which focuses on AI cloud infrastructure alongside Bitcoin mining. CEO Aydin Kilic stated that the company’s goal for the summer is to reach 18 EH/s, with fleet upgrades expected to allow for a daily BTC output of over 12 by the fourth quarter, potentially at a production cost below $50,000 per coin.

HIVE operates facilities in Canada, Sweden, and Paraguay, all powered entirely by hydroelectricity. The company was the first publicly listed crypto miner on the TSX Venture Exchange in 2017. HIVE's rapid expansion and sustainable growth are fueled by its hydropowered facilities, which have enabled the company to more than double its hashrate capacity in a short period. The firm aims to reach 25 EH/s and over 12 bitcoin of daily output by late 2025, positioning itself as a leader in the Bitcoin mining industry.