HIVE Digital Achieves 10 EH/s Mining Breakthrough, Races Toward 25 EH/s Goal

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) surpassed 10 Exahash per second (EH/s) in Bitcoin mining capacity, as reported on May 28. This milestone exceeds the company's previous 9.5 EH/s record announced just seven days ago. The company now produces over 5 Bitcoin daily and maintains above 1% of the global Bitcoin network hashrate.
A team of technicians working on a server of bitcoin mining equipment in a data center.
The accelerated expansion centers on HIVE's Paraguay operations, where the company deployed new mining equipment at its 100 MW hydro-powered Yguazú facility. The mining fleet operates at 20 Joules per Terahash efficiency.
HIVE Digital Technologies Ltd. targets 11.5 EH/s by June 2025 as part of its first expansion phase. A second 100 MW facility in Yguazú will launch by summer 2025, targeting 18 EH/s capacity. The company plans to complete a third 100 MW campus in Valenzuela, Paraguay, which is key to achieving its 25 EH/s goal by Q4 2025. It assured investors that this expansion is fully funded, eliminating dilution concerns typically associated with rapid scaling.
At the same time, Buzz HPC, a HIVE (NASDAQ:HIVE) subsidiary, achieved an important milestone. The entity reached $20 million in annualized run-rate revenue from its GPU cloud business. The division operates over 5,000 GPUs for AI workloads, providing strategic diversification beyond Bitcoin mining operations.
HIVE Digital Technologies Ltd is a technology company that specializes in Bitcoin mining and high-performance computing (HPC). It builds and operates data centers in Canada, Sweden, and Paraguay. HIVE uses NVIDIA GPUs to support AI and HPC markets.
While we acknowledge the potential of HIVE Digital Technologies Ltd (NASDAQ:HIVE) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than HIVE and that has 100x upside potential, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
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