HIVE Digital Technologies Surpasses 10 EH/s of Bitcoin Hashrate as Expansion in Paraguay Accelerates
HIVE Digital Technologies has achieved a significant milestone by surpassing 10 Exahash per second (EH/s) in global Bitcoin mining hashrate, adding 1 EH/s weekly over the past month. The company is ahead of schedule to reach its Phase 1 target of 11.5 EH/s by June 2025, with plans to expand to 25 EH/s by Q4 2025. The company's global fleet maintains an efficiency of 20 Joules per Terahash.
Additionally, HIVE's HPC subsidiary, Buzz HPC, has reached $20 million in annualized run-rate revenue from its GPU cloud business, one month ahead of schedule. The subsidiary now operates over 5,000 GPUs for AI workloads. The company is currently producing over 5 Bitcoin per day, and management believes the GPU cloud business could be valued at 10-20x its annualized cash flows.
HIVE Digital Technologies ha raggiunto un traguardo importante superando i 10 Exahash per secondo (EH/s) nell'hashrate globale del mining di Bitcoin, aggiungendo 1 EH/s a settimana nell'ultimo mese. L'azienda è in anticipo rispetto ai tempi previsti per raggiungere l'obiettivo della Fase 1 di 11,5 EH/s entro giugno 2025, con piani di espansione fino a 25 EH/s entro il quarto trimestre del 2025. La flotta globale dell'azienda mantiene un'efficienza di 20 Joule per Terahash.
Inoltre, la controllata HPC di HIVE, Buzz HPC, ha raggiunto un fatturato annualizzato di 20 milioni di dollari dal suo business di cloud GPU, un mese prima del previsto. La controllata gestisce ora oltre 5.000 GPU per carichi di lavoro di intelligenza artificiale. Attualmente l'azienda produce più di 5 Bitcoin al giorno, e il management ritiene che il business del cloud GPU potrebbe essere valutato tra 10 e 20 volte i suoi flussi di cassa annualizzati.
HIVE Digital Technologies ha alcanzado un hito significativo al superar los 10 Exahash por segundo (EH/s) en la tasa de hash global de minería de Bitcoin, añadiendo 1 EH/s semanalmente durante el último mes. La compañía está adelantada a su cronograma para alcanzar su objetivo de la Fase 1 de 11.5 EH/s para junio de 2025, con planes de expandirse a 25 EH/s para el cuarto trimestre de 2025. La flota global de la empresa mantiene una eficiencia de 20 Julios por Terahash.
Además, la subsidiaria HPC de HIVE, Buzz HPC, ha alcanzado un ingreso anualizado de 20 millones de dólares provenientes de su negocio de nube GPU, un mes antes de lo previsto. La subsidiaria opera ahora más de 5,000 GPUs para cargas de trabajo de inteligencia artificial. Actualmente, la empresa produce más de 5 Bitcoins por día, y la dirección cree que el negocio de la nube GPU podría valorarse entre 10 y 20 veces sus flujos de caja anualizados.
HIVE Digital Technologies는 전 세계 비트코인 채굴 해시레이트에서 10 엑사해시 초당(EH/s)을 돌파하는 중요한 이정표를 달성했으며, 지난 한 달간 매주 1 EH/s를 추가했습니다. 회사는 2025년 6월까지 1단계 목표인 11.5 EH/s를 달성하는 데 계획보다 앞서 있으며, 2025년 4분기까지 25 EH/s로 확장할 계획입니다. 회사의 글로벌 장비는 테라해시당 20줄의 효율성을 유지하고 있습니다.
또한 HIVE의 HPC 자회사인 Buzz HPC는 GPU 클라우드 사업에서 연간 실행 수익 2,000만 달러를 달성했으며, 이는 예정보다 한 달 빠른 성과입니다. 자회사는 현재 AI 작업을 위해 5,000개 이상의 GPU를 운영 중입니다. 회사는 현재 하루에 5개 이상의 비트코인을 생산하고 있으며, 경영진은 GPU 클라우드 사업이 연간 현금 흐름의 10~20배 가치가 있을 수 있다고 보고 있습니다.
HIVE Digital Technologies a atteint un jalon important en dépassant les 10 Exahash par seconde (EH/s) dans le hashrate mondial du minage de Bitcoin, ajoutant 1 EH/s par semaine au cours du dernier mois. L'entreprise est en avance sur son calendrier pour atteindre son objectif de Phase 1 de 11,5 EH/s d'ici juin 2025, avec des plans d'expansion à 25 EH/s d'ici le quatrième trimestre 2025. La flotte mondiale de l'entreprise maintient une efficacité de 20 Joules par Terahash.
De plus, la filiale HPC de HIVE, Buzz HPC, a atteint un chiffre d'affaires annualisé de 20 millions de dollars grâce à son activité de cloud GPU, un mois avant la date prévue. La filiale exploite désormais plus de 5 000 GPU pour les charges de travail en intelligence artificielle. L'entreprise produit actuellement plus de 5 Bitcoins par jour, et la direction estime que l'activité de cloud GPU pourrait être valorisée entre 10 et 20 fois ses flux de trésorerie annualisés.
HIVE Digital Technologies hat einen bedeutenden Meilenstein erreicht, indem es die globale Bitcoin-Mining-Hashrate von 10 Exahash pro Sekunde (EH/s) überschritten hat und in den letzten Monat wöchentlich 1 EH/s hinzugefügt hat. Das Unternehmen liegt im Zeitplan, um sein Phase-1-Ziel von 11,5 EH/s bis Juni 2025 zu erreichen, mit Plänen, bis zum vierten Quartal 2025 auf 25 EH/s zu expandieren. Die globale Flotte des Unternehmens hält eine Effizienz von 20 Joule pro Terahash.
Darüber hinaus hat die HPC-Tochtergesellschaft von HIVE, Buzz HPC, einen annualisierten Umsatz von 20 Millionen US-Dollar mit ihrem GPU-Cloud-Geschäft erzielt, einen Monat früher als geplant. Die Tochtergesellschaft betreibt mittlerweile über 5.000 GPUs für KI-Arbeitslasten. Das Unternehmen produziert derzeit über 5 Bitcoin pro Tag, und das Management geht davon aus, dass das GPU-Cloud-Geschäft mit dem 10- bis 20-fachen seiner annualisierten Cashflows bewertet werden könnte.
- Achieved 10 EH/s Bitcoin mining hashrate, producing over 5 Bitcoin daily
- Accelerated growth rate to 1 EH/s per week, twice the previous guidance
- Buzz HPC reached $20M ARR ahead of schedule with 5,000 GPUs deployed
- Expansion to 25 EH/s by Q4 2025 is fully funded
- Strong fleet efficiency at 20 Joules per Terahash
- None.
Insights
HIVE's accelerated mining expansion to 10 EH/s and $20M GPU cloud revenue signals strong operational execution and diversified growth strategy.
HIVE has achieved a significant operational milestone by surpassing 10 Exahash per second (EH/s) of Bitcoin mining capacity, now producing over 5 Bitcoin daily. What's particularly impressive is their acceleration to adding 1 EH/s weekly rather than their previous guidance of 1 EH/s biweekly, demonstrating exceptional operational execution in their Paraguay expansion.
The company's fleet efficiency of 20 Joules per Terahash positions them competitively among public miners, as energy efficiency directly impacts mining profitability. Their rapid scaling toward 11.5 EH/s by June 2025 and 25 EH/s by Q4 2025 represents more than doubling their current capacity within months.
The crucial detail investors should note is that this growth is fully funded, mitigating dilution concerns often associated with rapid mining expansions. This suggests HIVE has effectively managed its capital structure through the volatile Bitcoin cycles.
Equally noteworthy is HIVE's diversification strategy through its Buzz HPC subsidiary, which has reached $20M annualized run-rate revenue in GPU cloud services, one month ahead of schedule. With 5,000 GPUs now deployed for AI workloads, this represents a strategic hedge against Bitcoin mining volatility while capturing value in the high-growth AI infrastructure market.
Executive Chairman Frank Holmes' statement suggesting the GPU cloud business could be valued at 10-20x annualized cash flows implies a potential valuation of $200-400M for just this segment, highlighting how the market might be undervaluing this diversification strategy within HIVE's business model.
This news release constitutes a "designated news release for the purposes of the Company's amended and restated prospectus supplement dated May 14, 2025, to its short form base shelf prospectus dated September 11, 2024.
San Antonio, Texas--(Newsfile Corp. - May 28, 2025) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the "Company" or "HIVE"), a global leader in sustainable digital infrastructure, is pleased to announce it has surpassed 10 Exahash per second (EH/s) of global Bitcoin mining hashrate, and in the process has added 1 EH/s each week for the last month.
As of today, HIVE reports a total operating hashrate of over 10 EH/s and is ahead of schedule to reach its Phase 1 objective of 11.5 EH/s by the end of June 2025, with a global fleet efficiency of 20 Joules per Terahash.
HIVE continues to execute on its strategic expansion toward its 25 EH/s target for calendar Q4 2025 and is working hard to maintain the cadence of its rapid scaling. The Company notes that this growth is fully funded.
BUZZ HPC Surpasses Growth Milestone in HPC Cloud, Achieves
The Company is proud to announce that its high-performance computing ("HPC") subsidiary, Buzz HPC, has surpassed a key growth milestone-reaching a
Buzz HPC's rapid scale-up reflects strong operational momentum, with over 5,000 cutting-edge GPUs now actively deployed. This milestone not only validates the Company's vision for HPC growth but also reinforces its position as an emerging leader in GPU cloud infrastructure.
Executive Commentary
Frank Holmes, Co-Founder and Executive Chairman of HIVE, commented: "Our HPC growth has outpaced expectations-from early projections to now reaching
Aydin Kilic, President & CEO of HIVE, stated: "It is a monumental accomplishment for HIVE to reach 10 EH/s, and we are now producing over 5 Bitcoin per day. I am very proud of our team for executing. What is remarkable is we have added approximately 1 EH/s of Bitcoin mining capacity on a weekly basis, exceeding our previous guidance to bring on 1 EH/s every 2 weeks. We have done so consecutively for the last month. Our Country President Gabriel Lamas has been consistently executing on his targets, embodying the high-performance work culture at HIVE."
About HIVE Digital Technologies Ltd.
HIVE Digital Technologies Ltd. is a pioneering technology company advancing sustainable blockchain and AI infrastructure powered by green energy. As the first cryptocurrency miner to go public on the TSX Venture Exchange in 2017, HIVE has grown into a global leader in digital asset mining and AI computing. With operations in Canada, Sweden, and Paraguay, HIVE continues to innovate while reducing its environmental footprint.
For more information, visit hivedigitaltech.com, or connect with us on:
X: https://x.com/HIVEDigitalTech
YouTube: https://www.youtube.com/@HIVEDigitalTech
Instagram: https://www.instagram.com/hivedigitaltechnologies/
LinkedIn: https://linkedin.com/company/hiveblockchain
On Behalf of HIVE Digital Technologies Ltd.
"Frank Holmes"
Executive Chairman
For further information, please contact:
Nathan Fast, Director of Marketing and Branding
Frank Holmes, Executive Chairman
Aydin Kilic, President & CEO
Tel: (604) 664-1078
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Information
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian and United States securities legislation and regulations that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes but is not limited to: the acquisition of the new site in Paraguay and its potential, the timing of it becoming operational; business goals and objectives of the Company; the acquisition, deployment and optimization of the mining fleet and equipment; the continued viability of its existing Bitcoin mining operations; the receipt of government consents; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
Factors that could cause actual results to differ materially from those described in such forward looking information include, but are not limited to: the inability to enter into a binding agreement and complete the acquisition of the Paraguay site on the terms as announced or at all; the inability to complete the construction of the Paraguay acquisition on an economic and timely basis and achieve the desired operational performance; the ongoing support and cooperation of local authorities and the Government of Paraguay; the volatility of the digital currency market; the Company's ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company's operations; the regulatory environment for cryptocurrency in Canada, the United States and the countries where our mining facilities are located; economic dependence on regulated terms of service and electricity rates; the speculative and competitive nature of the technology sector; dependency on continued growth in blockchain and cryptocurrency usage; lawsuits and other legal proceedings and challenges; government regulations; the global economic climate; dilution; future capital needs and uncertainty of additional financing, including the Company's ability to utilize the Company's ATM Program and the prices at which the Company may sell Common Shares in the ATM Program, as well as capital market conditions in general; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the need for continued technology change; the ability to maintain reliable and economical sources of power to run its cryptocurrency mining assets; the impact of energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; share dilution resulting from the ATM Program and from other equity issuances; the construction and operation of facilities may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of electricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power for the Company to operate cryptocurrency mining assets; the risks of an increase in the Company's electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and the adverse impact on the Company's profitability; the ability to complete current and future financings, any regulations or laws that will prevent the Company from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; an inability to predict and counteract the effects of pandemics on the business of the Company, including but not limited to the effects of pandemics on the price of digital currencies, capital market conditions, restriction on labour and international travel and supply chains; and, the adoption or expansion of any regulation or law that will prevent the Company from operating its business, or make it more costly to do so; and other related risks as more fully set out in the Company's disclosure documents under the Company's filings at www.sec.gov/EDGAR and www.sedarplus.ca.
The forward-looking information in this news release reflects the Company's current expectations, assumptions, and/or beliefs based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's objectives, goals or future plans, the timing thereof and related matters. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance, and accordingly, undue reliance should not be put on such information due to its inherent uncertainty. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, other than as required by law.
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