HIVE Digital reaches 20 EH/s capacity, mining 9 bitcoin daily

HIVE Digital Technologies Ltd. (NASDAQ: HIVE) announced it has exceeded 20 exahash per second of Bitcoin mining capacity following deployment of mining equipment at its Phase 3 facility in Paraguay.

The company reported a year-to-date hashrate increase of approximately 233% and currently mines 9 Bitcoin per day. HIVE operates at a global fleet efficiency of 18 joules per terahash and achieves a mining margin of 55% after electricity costs. This represents approximately 2% of the Bitcoin network based on current difficulty levels.

The Phase 3 facility in Valenzuela, Paraguay represents HIVE's third 100-megawatt development powered by hydroelectric energy from the Itaipu Dam. Construction is substantially complete with installations progressing ahead of schedule.

Upon completion of Phase 3, HIVE anticipates reaching daily Bitcoin production of approximately 12 BTC based on current network difficulty. The company expects to operate at an efficiency of approximately 17.5 joules per terahash at that scale.

"We are currently 2% of the global Bitcoin mining infrastructure, which is a significant milestone considering Bitcoin's market exceeds $2 trillion capitalization," stated Aydin Kilic, President and CEO.

HIVE targets reaching 25 EH/s by U.S. Thanksgiving. All ASIC purchases for Phase 3 are funded and have been shipped, with over 40% currently on-site and being installed. The remaining equipment is scheduled for delivery this month.

The company operates facilities in Canada, Sweden, and Paraguay, focusing on renewable energy sources for its mining operations. HIVE also announced community education initiatives in Paraguay, including upgrades to local school facilities.

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