Hive Digital Technologies Reports Record-Breaking 6 EH/s Hashrate, Plans to Triple Capacity by 2025

Hive Digital Technologies has started 2025 with a significant milestone, reporting a record-breaking operational hashrate of 6.0 Exahashes per second (EH/s) as of January 2.

Hive Digital Technologies (TSX-V:HIVE,OTCQX:HVBTF) has kicked off 2025 with a record-breaking operational hashrate of 6.0 Exahashes per second (EH/s), as reported on January 2. This marks a substantial 47% increase year-over-year from the 4.08 EH/s recorded at the end of 2023, showcasing Hive’s unwavering commitment to scaling its Bitcoin mining operations.

From 6 EH/s to a 15 EH/s Vision by 2025

In line with its aggressive growth plans, the company aims to triple its mining capacity, reaching 15 EH/s by the end of 2025. This expansion will be driven by a 100 MW hydroelectric-powered facility in Paraguay, as Hive strives to achieve a blended fleet efficiency target of 17 joules per terahash (J/TH).

Recent upgrades to Hive’s Bitcoin mining fleet have seen the incorporation of advanced Avalon machines from Canaan Inc. (NASDAQ:CAN), which has played a crucial role in enhancing operational efficiency and reducing transaction processing costs. These improvements, combined with sub-2-cent electricity rates secured in Sweden, highlight Hive’s focus on sustainable and cost-efficient growth.

Relocation to Texas: Embracing Pro-Bitcoin Policies

In a strategic shift, Hive has announced the relocation of its headquarters from Vancouver, Canada, to San Antonio, Texas. This decision aligns with the pro-Bitcoin policies of President-elect Donald Trump and Texas’ reputation as a Bitcoin mining powerhouse.

Texas is home to major cryptocurrency mining companies such as Marathon Digital (NASDAQ:MARA), Riot Platforms (NASDAQ:RIOT), and Bitdeer, and is also recognized for its favorable business climate and renewable energy opportunities.

Frank Holmes, Hive’s Chairman, highlighted the advantages of moving to Texas:

“The depth and breadth of US capital markets are unparalleled and key to our growth strategy. The US market offers Hive the liquidity, visibility, and valuation opportunities we need to scale.”

The relocation will also see Hive transition to US GAAP reporting standards, ensuring better alignment with American investors. According to Hive, Texas’ business-friendly environment, coupled with America’s vast capital markets, will be instrumental in driving its growth strategy.

Bitcoin Mining Efficiency and Sustainability

Sustainability remains at the core of Hive’s operational model, with the company leveraging renewable energy sources such as hydroelectric power in Paraguay and competitively priced electricity in Sweden. These initiatives not only lower production costs but also strengthen Hive’s position as a leader in eco-friendly Bitcoin mining practices.

As the crypto market witnesses renewed optimism following Trump’s election victory, Hive anticipates further institutional adoption and investment in the Bitcoin ecosystem. The company’s focus on efficiency, innovation, and strategic partnerships positions it as a key player in the rapidly evolving digital asset landscape.

Hive’s growth aspirations and operational shifts highlight its role in shaping the future of Bitcoin mining, as it embraces regulatory clarity, technological advancement, and a booming blockchain ecosystem.