HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE) announced it has surpassed 16 exahash per second (EH/s) of global Bitcoin mining hashrate, moving closer to its target of 25 EH/s by US Thanksgiving.
The company’s daily Bitcoin output has now risen above 8 Bitcoin, doubling production compared with May 2025, HIVE said on Monday.
"Our rapid deployment in Paraguay is precision execution at scale and a true testament to the tenacity, velocity, and vision of our team," HIVE chief operating officer Luke Rossy said in a statement.
"With over 5 EH/s of next-generation Bitmain S21+ Hydro miners already energized in Phase 2 at Yguazú, and new machines arriving weekly, our team, under the phenomenal leadership of Country President of Paraguay Operations, Gabriel Lamas, is working around the clock to install new machines as quickly as they arrive."
Deployment at HIVE’s Phase 3 Valenzuela site is scheduled to begin in September, which is expected to complete the company’s fully funded expansion to 25 EH/s.
At that level, HIVE projects daily Bitcoin production of about 12 Bitcoin based on current network difficulty.
HIVE reported that its current global fleet efficiency stands at approximately 17.5 joules per terahash (J/TH), representing nearly 3% of global supply at present network difficulty.
The company said that newer generation ASICs are contributing to improved energy efficiency and economics, enabling higher hashrate generation per joule consumed.
HIVE also outlined how Bitcoin mining economics are determined by public variables such as network difficulty, block rewards, global hashrate, and Bitcoin price.
At the current network difficulty of 129 trillion, one EH/s produces around 0.50 Bitcoin per day. HIVE noted that electricity remains its primary operating cost, accounting for 80% to 90% of expenses depending on the site.
Once Phase 2 at the Yguazú site in Paraguay is complete, HIVE expects to exceed 11.5 EH/s of capacity in Paraguay alone, with a global total of 18 EH/s.
This is projected to improve global fleet efficiency to about 18.4 J/TH. Based on a Bitcoin price of $113,000 and current difficulty levels, HIVE estimates its mining margin after electricity costs at approximately 60%.
"The team continues to be laser-focused on executing our ambitious growth strategy. After scaling from 6 EH/s to 16 EH/s so far this year, we expect to complete Phase 2 at Yguazu on schedule, and reach 18 EH/s in the coming weeks," HIVE CEO Aydin Kilic said.
"Clean, green, and funded by our operations, our purpose is clear: to build resilient, decentralized infrastructure that secures the future of Bitcoin while generating robust, lasting cash flow for our shareholders."