HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE) announced it has completed its Phase 2 expansion at the Yguazú site in Paraguay ahead of schedule, while also exceeding 18 Exahash per second (EH/s) of global Bitcoin mining capacity during the past week.
The multinational digital infrastructure company said it has rapidly eclipsed the 18 EH/s target, and today is mining over 8.5 Bitcoin per day.
"HIVE is one of the few companies in the world operating with a dual business model, in Bitcoin mining and also AI Cloud computing powered by GPUs in our HPC data centers," HIVE Digital Technologies CEO Aydin Kilic said in a statement.
"At HIVE, we are focused on creating enduring value through disciplined growth, operational excellence, and a dual-engine model that puts us at the forefront of digital infrastructure and next-generation finance."
HIVE noted that with Phase 2 finished at Yguazú, it has now successfully realized the goal of reaching a total global hashrate of 18 EH/s by summer 2025, culminating in the completion of Yguazú, with 200 megawatts (MW) using hydroelectric power now under operation in Paraguay, with a global fleet efficiency of about 18.5 Joules per Terahash (J/TH).
As well, the company reported that the transformers in Phase 3 at the Valenzuela site have been energized, marking the third 100 MW of green energy infrastructure HIVE has built in Paraguay.
HIVE added that it anticipates installing application-specific integrated circuits (ASICs) in the coming weeks, as site construction of Phase 3 is now substantially complete.
Furthermore, the company said Valenzuela is the final step in its expansion plan to 25 EH/s, in which it projects to produce about 12 Bitcoins per day upon completion by US Thanksgiving.