HIVE Digital Technologies Ltd., a leader in sustainable blockchain infrastructure, announced a significant achievement on January 2, 2025, reaching an operational hashrate of 6.0 Exahashes per second, representing a 47% increase from the previous year. The company upgraded its Bitcoin mining fleet with advanced Avalon machines, enhancing efficiency and capacity. Additionally, HIVE secured competitive energy rates in Sweden, paying less than 2 cents per kilowatt-hour, which will improve profitability. Looking forward, HIVE aims to achieve 15 EH/s by the end of 2025 with plans for a major expansion powered by hydroelectric energy in Paraguay. This growth reflects HIVE’s commitment to innovation and efficiency in the Bitcoin mining industry, as emphasized by Executive Chairman Frank Holmes.
HIVE Digital Technologies Expands Bitcoin Mining capabilities in 2025
HIVE Digital Technologies Ltd., a prominent player in sustainable blockchain infrastructure, announced that it has achieved a significant milestone in its Bitcoin mining operations. The company reached an impressive operational hashrate of 6.0 Exahashes per second (EH/s) as of January 2, 2025, marking a remarkable 47% growth compared to 4.08 EH/s last year.
This growth is largely attributed to the upgrade of HIVE’s Bitcoin mining fleet with advanced Avalon machines from Canaan Inc., which enhances both efficiency and capacity for mining operations. In addition to this technological advancement, HIVE has secured competitively low energy prices in Sweden, taking its electricity costs down to less than 2 cents per kilowatt-hour. This commitment to operational cost efficiency supports HIVE’s goal of providing sustainable and profitable Bitcoin mining solutions.
Looking ahead, HIVE plans to further expand its hashrate capacity, with expectations of reaching 15 EH/s by the end of 2025. This ambitious target is supported by the strategic deployment of a 100 MW hydroelectric-powered mining expansion in Paraguay, which is expected to provide a blended fleet efficiency of 17 joules per terahash (J/TH).
Frank Holmes, HIVE’s Executive Chairman, commented on this progress, stating, “After navigating our second Bitcoin Halving event, HIVE is setting a new standard for efficiency and innovation in Bitcoin mining. Our optimization efforts and advantageous energy pricing position us for significant growth in 2025.”
About HIVE Digital Technologies Ltd.
Founded in 2017 as the first cryptocurrency miner to go public on the TSX Venture Exchange, HIVE Digital Technologies Ltd. has become a leader in digital asset mining and AI computing. With operations in Canada, Sweden, and Paraguay, the company continues to innovate within the blockchain space while minimizing its environmental impact.
For more details about HIVE Digital Technologies Ltd., visit hivedigitaltech.com or connect on social media platforms such as Twitter, YouTube, Instagram, and LinkedIn.
Tags: HIVE Digital Technologies, Bitcoin mining, blockchain, sustainable technology, cryptocurrency news
What does HIVE Digital Technologies’ achievement of 6 EH/s of hashrate capacity mean?
HIVE Digital Technologies reaching 6 EH/s means they can process more cryptocurrency transactions at a faster rate. This capacity helps improve efficiency and performance in crypto mining.
How does hashrate capacity affect cryptocurrency mining?
Hashrate capacity shows how powerful a mining operation is. A higher hashrate can lead to a greater chance of solving complex problems, which means more rewards from mining.
Why is HIVE’s milestone important for the company?
Achieving 6 EH/s strengthens HIVE’s position in the crypto mining industry. It shows their growth and ability to compete effectively, attracting potential investors and customers.
What are the benefits of having a high hashrate?
A high hashrate can lead to increased profits from mining. It also contributes to the overall security and stability of the blockchain network.
Will HIVE continue to grow its hashrate capacity in the future?
Yes, HIVE aims to expand its hashrate capacity further. They plan to invest in new technologies and equipment to enhance their mining operations and grow their business.
