HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE) announced it has surpassed 10 exahash per second (EH/s) in global Bitcoin mining hashrate as it continues to expand its Paraguay facility.
Over the past month, the company has added 1 EH/s each week and is currently ahead of schedule to reach its Phase 1 goal of 11.5 EH/s by the end of June 2025.
The company’s global fleet efficiency is 20 joules per terahash, and HIVE said it is continuing its strategic expansion toward a target of 25 EH/s by Q4 2025.
Aydin Kilic, HIVE CEO, welcomed the EH/s milestone and noted that the company is now producing more than 5 Bitcoin per day.
“I am very proud of our team for executing. What is remarkable is we have added approximately 1 EH/s of Bitcoin mining capacity on a weekly basis, exceeding our previous guidance to bring on 1 EH/s every 2 weeks,” Kilic said.
“We have done so consecutively for the last month. Our country president Gabriel Lamas has been consistently executing on his targets, embodying the high-performance work culture at HIVE.”
Additionally, HIVE reported that its high-performance computing (HPC) subsidiary Buzz HPC has achieved a $20 million annualized revenue run rate in its GPU cloud business, one month ahead of schedule. The subsidiary currently operates over 5,000 GPUs.
"Our HPC growth has outpaced expectations-from early projections to now reaching $20 million in annualized revenue,” Frank Holmes, HIVE co-founder and executive chairman, said.
“With approximately 5,000 GPUs powering AI workloads, we believe our GPU cloud business is a high-value asset, potentially worth 10 to 20 times its annualized cash flows."