HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE) announced it has achieved a new record in its Bitcoin mining hashrate, reaching 9.5 exahash per second (EH/s).
This milestone places the company above 1% of the global Bitcoin network hashrate, HIVE said on Thursday.
The company attributed the achievement to a series of operational developments, including the commissioning of its first 100 MW hydro-powered data center in Yguazú, Paraguay.
At its current hashrate, HIVE said it is producing more than 4.5 Bitcoin per day.
The increase in hashrate comes ahead of schedule, with the company noting that it has been adding approximately 1 EH/s each week. HIVE plans to continue building out its capacity in phases to achieve its goal of 25 EH/s by the end of 2025.
By June 2025, it expects to reach 11.5 EH/s, as it completes the first stage of its expansion.
The next stage includes the commissioning of a second 100 MW facility in Yguazú by summer 2025, which is projected to bring HIVE’s capacity to 18 EH/s and position the company to capture 2% of the global network hashrate.
A third 100 MW facility is planned for Valenzuela, Paraguay, by Q4 2025.
"Hitting 9.5 EH/s is a testament to our strategic focus and execution,” HIVE CEO Aydin Kilic said in a statement.
“We're mining a significant share of Bitcoin's daily rewards, and our growth trajectory positions us to double our network share by the end of summer. For our shareholders, this means a stronger, more resilient HIVE, ready to thrive in a dynamic market."
Frank Holmes, HIVE executive chairman, added that the company’s team, led by Paraguay country president Gabriel Lamas, has outperformed expectations.
“These milestones are not just numbers, they represent our commitment to building a sustainable, high-growth company,” Holmes said. “We're setting the stage for an extraordinary 2025."