HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE) executive chairman Frank Holmes talked with Proactive's Stephen Gunnion about the company’s remarkable achievements and future goals. Holmes shared how Hive ended 2024 by achieving a 6 Exahash per second (EH/s) milestone, a 47% increase from December 2023. This accomplishment was driven by upgrading to more energy-efficient machines, particularly the Avalon units from Canaan, improving Bitcoin mining efficiency and output.
He highlighted HIVE's ability to secure competitive energy pricing in Sweden, locking in electricity costs below $0.02 per kilowatt-hour. Holmes also reflected on the team's global coordination across multiple languages and time zones, noting HIVE's impressive revenue per employee—approximately $6 million, surpassing giants like Nvidia and Apple.
Looking ahead to 2025, HIVE aims to reach 12-15 exahashes per second within six months, targeting around 2% of the global Bitcoin network hash rate. Holmes emphasized the company's ongoing focus on operational efficiency and increasing Bitcoin holdings.