HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE), a leader in sustainable digital asset mining, has announced the acquisition of 8.6 EH/s of Bitmain S21+ Hydros.
This strategic purchase will boost HIVE’s Bitcoin mining hashrate to 15 EH/s by the summer of 2025, leveraging its green energy operations in Paraguay.
The initial order of 13,480 units, delivering 4.3 EH/s, will arrive in April and May 2025 at a cost-efficient $14/TH, with an option to double the order within a year.
HIVE’s upgrades, including new Canaan Avalon units, will increase its efficiency to 19.5 J/TH and its hashrate to 6.4 EH/s by Q1 2025.
Upon full implementation of the Bitmain order, the company will achieve 15 EH/s with a fleet efficiency of 17 J/TH.
"Once fully deployed, our strategic expansion to 15 EH/s will propel HIVE to over $300 million in annualized revenue and deliver more than $200 million in mining margin, based on current mining economics,” HIVE executive chairman Frank Holmes said.
“At 2% of the Bitcoin network's total hashrate, we expect to produce approximately 9 Bitcoin per day at the current difficulty level, supporting HIVE's clear vision for scaling our operations while sourcing green hydro energy and driving significant value for shareholders.”
Aydin Kilic, HIVE's CEO, emphasized that the company’s focus is delivering an exceptional return on investment for shareholders.
“This strategic purchase and deployment of highly efficient 15 J/TH miners in Paraguay will significantly enhance our profitability and substantially lower our Bitcoin mining break-even point at current difficulty levels,” Kilic said.
"With this deployment, we project an ROI of approximately 10 months, taking into account current hashrate economics of $60/PH per day after accounting for electrical and direct operating costs. This positions HIVE for strong profitability and sustainable long-term growth.”