HIVE Digital Technologies has achieved a significant milestone in its Bitcoin mining operations, surpassing 23 exahashes per second (EH/s) of mining capacity, which represents a 283% increase year-to-date. This growth positions the company among industry leaders and provides immediate revenue to finance its transition into high-performance computing (HPC) and artificial intelligence (AI) infrastructure.
The company projects reaching 25 EH/s by the end of November 2025, supported by its 100 MW hydroelectric campus in Valenzuela, Paraguay, powered by the Itaipú Dam. HIVE's mining operations maintain an average ASIC efficiency of 17.7 J/TH, with mining margins exceeding 50% after electricity costs, underscoring the profitability of its renewable energy-based approach.
HIVE is implementing a dual strategy: Bitcoin mining generates cash flow, while the development of Tier III+ data centers accelerates AI capacity. The company expanded its Grand Falls, New Brunswick campus by acquiring an additional 32.5 acres, bringing the total site to 38.5 acres. This expansion enables the facility to host up to 25,000 next-generation GPUs, leveraging renewable hydroelectric power, an on-site 80 MW substation, and a strategic location near Maine.
Globally, HIVE is retrofitting its Boden, Sweden facility from a Tier I mining center to a liquid-cooled Tier III+ HPC center and expanding in Toronto through a colocation partnership with Bell, adding 4,000 GPUs by 2026. By the end of 2026, the company expects to operate over 6,000 next-generation GPUs initially, with long-term global HPC capacity projected at approximately 36,000 GPUs. These data centers are designed for continuous uptime and target hyperscalers and generative AI platforms.
To incentivize talent, HIVE announced the issuance of 2.72 million Restricted Share Units (RSUs) to employees, directors, and consultants, with a one-year vesting period, aiming to foster innovation and align with shareholder interests.
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