HIVE Digital (HIVE) Update: Surpasses 10 EH/s in May, Targeting 25 EH/s by Year-End
Bitcoin miner HIVE Digital Technologies (HIVE) has exceeded 10 exahash per second (EH/s) in hashrate capacity, reflecting a 58% increase since April, thanks to the launch of a 100-megawatt hydro-powered facility in Paraguay. The company announced it is on track to reach 25 EH/s by the end of 2025. In May, HIVE mined 139 bitcoin, averaging 4.5 BTC per day. Peak capacity reached 10.4 EH/s, with an average hashrate of 8.5 EH/s for the month. HIVE reported that its fleet efficiency has remained stable at approximately 20 joules per terahash (J/TH), and its share of the network now exceeds 1% of the global Bitcoin mining power.
The new facility in Paraguay highlights a broader trend in the mining industry: the push to rapidly deploy next-generation ASIC miners at scale in regions with abundant renewable energy. Co-founder Frank Holmes emphasized the company’s agility, noting its Buzz HPC division, which supports AI cloud infrastructure along with Bitcoin mining. CEO Aydin Kilic stated that the company’s target for the summer is 18 EH/s and that fleet upgrades are expected to enable 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 shares have risen by 13% in New York trading as the mining sector benefits from Bitcoin’s increase above $105,000.
