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HIVE Digital Technologies Boosts Bitcoin Mining Hashrate to 23 EH/s

HIVE ramps up renewable-powered Bitcoin mining while converting sites into AI-ready data centers, targeting 36,000 GPUs by 2026 to capitalize on AI infrastructure demand.

BTC

Summary

HIVE Digital Technologies has increased its Bitcoin mining operations to 23 exahashes per second (EH/s), marking a 283% growth in 2024, and aims to hit 25 EH/s by month-end. The expansion was driven by full hardware deployment at its 100 MW hydroelectric campus in Paraguay, powered by the Itaipú Dam. Alongside mining, HIVE is transitioning part of its operations into liquid-cooled, AI-ready data centers, including a site in Grand Falls, New Brunswick, that could house 25,000 GPUs. Additional facilities in Toronto and Sweden are expected to boost total GPU capacity to 36,000 by the end of 2026, up from about 5,000 today. HIVE holds 2,201 BTC in its treasury, ranking 34th globally. Its shares fell 2.9% in pre-market trading Monday.

Terms & Concepts
  • Hashrate: A measure of computational power used in cryptocurrency mining, indicating how many calculations are performed per second.
  • EH/s (exahashes per second): A unit representing one quintillion hashes calculated per second in crypto mining performance.
  • GPU (Graphics Processing Unit): A specialized processor designed to accelerate graphics rendering and parallel computation, widely used for AI and high-performance computing.