HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE) announced it has exceeded 12 Exahash per second (EH/s) of global Bitcoin mining hashrate, doubling from 6 EH/s at the start of the year, and has reached a $250 million annualized run rate revenue.
The milestone follows rapid progress at the company’s Yguazú, Paraguay development, where HIVE is constructing three hydro-powered data center campuses.
The company aims to establish the region as a global center for Bitcoin mining and renewable infrastructure.
“HIVE has doubled in its EH/s in just six months, a testament to our team’s relentless execution and our strategic vision,” HIVE executive chairman Frank Holmes said in a statement.
“We’re building high-performance campuses at hyper speed, turning Paraguay into a global hub for sustainable Bitcoin mining data centers and laying the groundwork for the AI data center era now soaring.”
As part of its Phase 2 expansion, HIVE has already deployed 1 EH/s of Bitmain S21+ Hydro ASIC miners, with full deployment to 6.5 EH/s expected by late August.
The company remains on track to reach 18 EH/s by the end of summer and 25 EH/s by American Thanksgiving 2025.
“Phase 2 is already online and hashing efficiently with 20 J/TH fleet performance,” HIVE CEO Aydin Kilic said.
“As of yesterday, we achieved a $250 million annual run rate revenue, as we are now mining over 6 BTC daily across our global Bitcoin operations, and growing, at a mining margin of approximately 55%. Once we hit 18 EH/s, we expect approximately $400 million in annual run rate revenue, with 18.5 J/TH global average fleet efficiency and expanding mining margins approaching 60% after electrical costs at current hashprice.”
The company’s infrastructure efforts in Paraguay have been recognized across the industry for both speed and community impact, according to HIVE.
It said that the project has created hundreds of local jobs, bolstered regional infrastructure, and emphasized sustainability in digital asset mining.
“The velocity of HIVE’s buildout in Paraguay is breathtaking,” HIVE’s chief operating officer Luke Rossy said. “Gabriel Lamas and his local team are working around the clock. They’re not just meeting industry expectations—they’re rewriting them.”
Lamas added: "We're not just building data centers-we're creating economic opportunity, delivering social impact by lighting the streets of Valenzuela at night and installing air conditioning in local grade schools, and developing digital infrastructure on a scale few thought possible."
Investors welcomed the update, sending HIVE’s shares 5% higher premarket.