HIVE's digital capacity exceeded 10 EH/s in May and plans to double that by the end of the year

Bitcoin miner HIVE Digital Technologies (HIVE) has reached a hashrate of over 10 exahashes per second (EH/s), up 58% from April, thanks to the launch of a 100-megawatt hydroelectric project in Paraguay. In a press release on Friday, the firm said it aims to reach 25 EH/s by the end of 2025.

In May, the company mined 139 bitcoins, an average of 4.5 BTC per day. The peak hash rate reached 10.4 EH/s, and the average hash rate for the month was 8.5 EH/s. HIVE reported that the efficiency of its equipment remained stable at approximately 20 joules per terahash (J/TH), and its share of the network now exceeds 1% of the world's bitcoin mining power.

The new facility in Paraguay reflects a broader trend in the mining sector: a push for rapid and large-scale deployment of next-generation ASIC miners in regions with abundant renewable energy.

Co-founder Frank Holmes emphasized the company’s speed and agility, highlighting its Buzz HPC division, which runs cloud infrastructure for AI alongside Bitcoin mining. CEO Aydin Kılıç said the company’s goal for the summer is to reach 18 EH/s, with hardware upgrades expected to enable production of more than 12 BTC per day by Q4 — with a potential cost of less than $50,000 per coin.

HIVE operates facilities in Canada, Sweden, and Paraguay that are powered entirely by hydroelectricity. The company became the first public crypto miner to be listed on the TSX Venture Exchange in 2017.

HIVE shares rose 13% in New York trading on Friday as the mining sector surged and bitcoin prices rose to more than $105,000.

Source: cryptonews.net