HIVE Digital Technologies reported that its global Bitcoin‑mining fleet now operates at 23 exahashes per second (EH/s), a 283% year‑to‑date increase that places the company among the industry’s top miners.
The milestone follows the deployment of new S21+ Hydro ASICs at the company’s Valenzuela, Paraguay, campus and is expected to lift annual Bitcoin‑production revenue, though the company has not disclosed a specific dollar figure for the increase.
HIVE also completed a C$2.3 million purchase of 32.5 acres in Grand Falls, New Brunswick, adjacent to its existing 6‑acre site acquired in April 2021. The expanded property will host the company’s first Tier III+ high‑performance computing (HPC) data center, capable of supporting more than 25,000 next‑generation GPUs and positioning HIVE to capture the growing AI‑cloud market in Atlantic Canada.
The company’s dual‑engine strategy—using Bitcoin mining cash flow to fund the green‑energy‑driven HPC build—supports its goal of reaching 25 EH/s by U.S. Thanksgiving. HIVE’s renewable‑powered operations rely on hydroelectric power from the Itaipú Dam in Paraguay and target an efficiency of 17.5 J/TH, with an average of 17.7 J/TH reported in the most recent quarter.
Financially, HIVE’s fiscal year 2025 revenue totaled C$115.3 million, with digital‑currency mining revenue at C$105.2 million and HPC/AI‑cloud revenue at C$10.1 million. The company’s at‑the‑market offering raised C$100.2 million in gross proceeds during the three months ended September 30, 2025, providing additional capital for expansion.
Prior to the current milestone, the company reported a 5.2% year‑over‑year decline in digital‑currency mining revenue in FY2025, attributed to the Bitcoin halving and increased mining difficulty. However, the 23 EH/s hash‑rate represents a significant rebound in mining capacity and positions HIVE to capture higher Bitcoin prices in the coming months.
HIVE’s expansion into HPC also aligns with broader industry trends toward sustainable, high‑density computing. The company plans to add additional GPU capacity through partnerships and acquisitions, including a facility in Toronto and a colocation partnership with Bell Canada, aiming for over 6,000 next‑generation GPUs operational by the end of 2026.
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