Categories: Payment system news

HIVE Digital Capacity Crosses 10 EH/s in May, Aims to More Than Double That by Year-End

Bitcoin miner HIVE Digital Technologies (HIVE) has surpassed 10 exahash per second (EH/s) in hashrate capacity, a 58% increase from April, driven by the launch of a 100-megawatt hydro-powered site in Paraguay. The company said in a press release on Friday that it's on track to reach 25 EH/s by the end of 2025.

The firm mined 139 bitcoin in May, or an average rate of 4.5 BTC per day. Peak capacity hit 10.4 EH/s while average hashrate for the month stood at 8.5 EH/s. HIVE said its fleet efficiency remained steady at around 20 joules per terahash (J/TH), and its network share now exceeds 1% of global Bitcoin mining power.

The new facility in Paraguay reflects a broader trend in the mining industry: the race to deploy next-generation ASIC miners rapidly and at scale in regions with abundant renewable power.

Co-founder Frank Holmes emphasized the company’s speed and flexibility, pointing to its Buzz HPC division, which supports AI cloud infrastructure alongside Bitcoin mining. CEO Aydin Kilic said the company’s goal for the summer is 18 EH/s, and that fleet upgrades should allow for 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, powered entirely by hydroelectricity. The company was the first publicly listed crypto miner on the TSX Venture Exchange in 2017.

HIVE shares are higher by 13% in New York trade on Friday as the mining sector rallies alongside bitcoin's gain to above $105,000.

superadmin

Recent Posts

Solstice and TensorX Commit $1 Billion to AI Infrastructure for EU Sovereign AI Demand

TensorX and Solstice have announced a partnership to finance European sovereign AI infrastructure. Together, the…

5 minutes ago

AAVE May Outperform Bitcoin and Ethereum by 2030: Standard Chartered

Decentralized finance (DeFi) growth will usher in new capital to crypto and remains pivotal for…

8 minutes ago

BlackRock Sees Bitcoin as Portfolio Enhancer, Recommends 1-2% Allocation

According to Michael Gates, who leads model portfolio strategy at BlackRock, investors do not need…

10 minutes ago

Request Network Launches One-Click Cross-Chain Mass Payouts and Expands Wallet Screening With Merkle Science

Anyone can now execute mass payouts across EVM chains and Tron from a single platform…

10 hours ago

Ethereum Core Development Funds Could Run Dry Within 3–9 Months, Warns Former Foundation Member

Ethereum's core development ecosystem could face a significant funding crisis within the next several months,…

20 hours ago

Claimant Seeks Control of Satoshi Nakamoto’s Alleged Dormant Bitcoin Fortune

A New York State Supreme Court lawsuit is testing the limits of digital asset law…

20 hours ago