HIVE Digital Technologies produced 89 Bitcoin in February, raising total holdings to 2,620 BTC, valued at $220 million. The company is expanding in Paraguay, aiming for a hashrate increase to 25 EH/s by September 2025, and anticipates completing its 100 MW mining sites in 2025. HIVE is also growing its high-performance computing revenue from GPUs.
HIVE Digital Technologies reported mining 89 Bitcoin (BTC) in February, raising its total BTC holdings to 2,620, valued at approximately $220 million as of February 28. The average mining capacity was maintained at 5.6 exahash per second (EH/s), with a peak BTC-only hashrate of 6.2 EH/s. Daily production resulted in an average of 3.2 BTC as per HIVE’s latest report.
HIVE strategically sold a portion of its BTC holdings to invest in capital assets, including a partnership with Bitfarms to develop a 200-megawatt hydro-powered Bitcoin mining facility in Paraguay. Frank Holmes, Executive Chairman of HIVE, stated the importance of strong leadership in aligning with the company’s strategic goals, which focus on Bitcoin and AI developments.
CEO Aydin Kilic confirmed the company is progressing on its Paraguay expansion, aiming to increase its hashrate to 25 EH/s by September 2025. “We are focused on executing a transformative year that positions HIVE as one of the largest and most efficient Bitcoin miners in the world,” Kilic emphasized.
HIVE anticipates completing construction and starting the phased deployment of miners at its 100 MW Yguazú and Valenzuela sites in Q2 2025, targeting an output of 18 EH/s by June 30. In terms of high-performance computing, Kilic highlighted recent revenue growth from GPU operations, stating that the firm achieved a $13 million annualized run-rate revenue from its GPU fleet in late February, with hopes to hit a $20 million target by Q2 2025.
HIVE’s executive team recently inspected the construction progress at the Bitfarms site in Paraguay. COO Luke Rossy expressed satisfaction with the developments and anticipation for finalizing the acquisition of Bitfarms’ 200 MW Yguazú site in Q1 2025. The Valenzuela facility is also on track for energization by June 2025.
HIVE Digital Technologies has shown a robust production of Bitcoin and is strategically expanding its operations in Paraguay. With plans to significantly increase its hashrate and investments in high-performance computing, the company aims to solidify its position as a leading Bitcoin miner. The completion of significant infrastructure projects is expected in 2025, further propelling HIVE’s growth in the crypto market.
Original Source: www.proactiveinvestors.com
