HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE) executive chairman Frank Holmes joined Proactive to talk about the company's exponential growth plans and progress during what he described as a “transformative year.”
Holmes shared that HIVE started the year with 6 exahash (EH/s) and plans to scale up to 10 exahash over a short timeline, in alignment with its operational blueprints.
A key part of this growth is the company’s expansion in Paraguay. Originally planning for 100 megawatts, HIVE scaled to 300 megawatts after securing opportunities left by another operator exiting the region. Construction is ongoing, with over 350 workers onsite and the infrastructure evolving rapidly.
Proactive: Welcome back inside our Proactive newsroom. And joining me now is Frank Holmes. He's the Executive Chairman of HIVE Digital Technologies. And Frank, great to see you again. How are you?
Frank Holmes: Outstanding, my friend.
So, exciting year for HIVE. I’ve heard you describe in the past as this is really a transformational year for the company. Again, news out today that you've ticked up another box as far as your exahash is concerned.
Yes. It's a transformative year for HIVE because we're going to grow exponentially. Starting off at six exahash, then seven, and then eight and nine. And hopefully, you know, ten according to the blueprints. Every two weeks, we should be hitting these numbers. And that’s what’s important—that we said this is what we’re going to do, and we’re doing it.
And Bitcoin is flying—$111,000. So that means daily, we’re over 1% of the global network. And that’s very important in this game of cash flow and revenue.
Maybe you can explain to everyone how you're able to do this. Because I know that you need to add, and you're doing that within Paraguay. There’s lots of stuff still to come online. But maybe you can sort of explain the process and how you're able to do it so quickly.
Well, the opportunity came up a year ago to expand for 100 megawatts. Then Bitfarms once again decided to leave the country as they were focusing on America. And we said, no—we want that big green energy in Paraguay. So we quickly went from 100 megawatts to 300 megawatts of growth over this year.
That became very much transformative for us—to go from six exahash. It was a 4X growth. And we’re just doing it, which is so exciting to see. The construction—we have over 350 workers building up the facilities for us.
We've also been helping in the local schools. We found out there’s no air conditioning, and it’s 40°C, or close to 100°F. So we’ve gone in and started our ESG strategy, which has always been to take care of all people around us. And we’re excited that we’ve done over ten schools now near our facilities.
I know that you're targeting 18 exahash by the summer of this year. Everything remains on track for that? I know you mentioned there’s construction going on. But last time you and I spoke, you said everything was right on where it should be.
It is. And just stay tuned—we’ll have more good news next week. As equipment comes in, as chips come in and they get installed, that’s how fast they get in. Because the whole team can install them very rapidly. Unlike high-performance computing—when those NVIDIA chips show up, it’s six weeks before they can be turned on. ASIC chips—the team can put them up in six hours. So it’s not just about getting the machines from Asia to our facilities—we are lighting them up like a Christmas tree.
Quotes have been lightly edited for clarity and style