HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE) announced a 58% increase in peak Bitcoin mining hashrate for May 2025, rising from 6.6 EH/s in April to 10.4 EH/s, as the company continues to scale operations and expand capacity.
The company attributed this growth to the successful energization of HIVE’s 100 MW hydro-powered facility in Paraguay, contributing to its global network powered entirely by hydroelectric energy.
The company, which operates across nine time zones and five languages, reported 139 BTC mined in May while averaging 8.5 EH/s.
It achieved a production efficiency of 16.4 BTC per EH/s, maintained fleet efficiency at approximately 20 J/TH, and exceeded 1% of the global Bitcoin network hashrate.
HIVE remains on track to reach 11.5 EH/s by the end of June and maintains its goal of 25 EH/s by the fourth quarter of 2025.
"In May, we scaled at an exceptional pace—adding nearly 1 Exahash (EH/s) per week. This rapid growth demonstrates our operational strength and the effectiveness of our dual-engine model, which integrates rapid scaling high-efficiency Bitcoin mining with our Buzz HPC cloud division which is generating record cash flow,” HIVE chairman and co-founder Frank Holmes said.
“HIVE is at the forefront of building sustainable, high-performance digital infrastructure data centers. As fast as new ASIC miners arrive, we deploy them—often within six hours—turning hardware into cash flow with lightning speed and precision."
Aydin Kilic, HIVE CEO added that surpassing 10 EH/s has lifted the company’s daily Bitcoin production to more than 5. With the company’s fleet targeting 18 EH/s this summer, it is on track to top 8 Bitcoin per day.
“With 25 EH/s by Q4, we expect to produce over 12 Bitcoin per day and lower our production cost to under $50,000 per Bitcoin, with Bitcoin difficulty at 127T and a target fleet efficiency of 17.5 J/TH,” he said. Our team's execution puts us well ahead of schedule for our mid-year goals."
Shares of HIVE gained nearly 9% on Friday morning in Toronto at C$2.72.