Hive Digital Technologies Executive Chairman Frank Holmes joined Steve Darling from Proactive to reported unaudited production results for October 2024, showcasing solid performance and steady expansion in its Bitcoin mining operations. The company mined 117 BTC in October, a 1% increase from September, bringing Hive’s total Bitcoin holdings to 2,624 BTC, up 51% year-over-year.
Hive achieved an average mining capacity of 5.3 Exahashes per second (EH/s), reaching a peak hashrate of 5.6 EH/s with fleet efficiency at 22.3 Joules per Terahash (J/TH). This translated to an average daily production rate of 3.77 BTC, or 22.1 BTC per Exahash. In alignment with its expansion strategy, Hive Executive Chairman Frank Holmes announced the construction of a new 100 MW facility in Paraguay, near the capital, Asunción.
The facility is part of Hive’s goal to capture 2% of global Bitcoin mining capacity, using sustainable energy sources to support its growth. Additionally, Holmes expressed optimism about recent U.S. election outcomes, predicting favorable policies for the digital asset space under President Trump’s administration and a Republican Congress.
He also highlighted the influence of prominent figures like Elon Musk, whom Hive recognizes as an innovation leader, reinforcing Hive's positive outlook on the future of Bitcoin and digital transformation globally.