Hive Digital Technologies Ltd. has achieved a new milestone in Bitcoin mining capacity exceeding 22 exahash per second (EH/s) while rapidly expanding its artificial intelligence (AI) cloud through a Tier-3 data center transformation in Sweden.
Hive Digital advances towards 25 EH/s
Aiming to strengthen its position as a leader in sustainable digital infrastructure, Hive Digital Technologies Ltd. (TSX.V: HIVE | Nasdaq: HIVE | FSE: YO0) on Monday announced that global Bitcoin mining power has exceeded 22 EH/s, marking a 267% year-to-date increase.
The company announced Monday that its third 100-megawatt hydropower campus in Paraguay played a key role in achieving this milestone. The facility draws renewable energy from the Itaipu Dam, one of the world’s largest hydropower sources, and currently produces approximately 9.5 BTC per day at a fleet efficiency of 17.8 Joules per Terahash (J/TH).
Hive maintains a mining margin of 55% excluding electricity costs, demonstrating excellent operational efficiency. The company expects to reach 25 EH/s by Thanksgiving in the US, with a fleet efficiency target of 17.5 J/TH.
At the same time, Hive is accelerating its AI cloud initiative in Sweden, converting the Borden site from a Tier-1 to a Tier-3 high performance computing (HPC) facility. The upgraded data center will host 2,000 Nvidia GPUs for enterprise-grade AI workloads across the European Union.
The company says this renovation model can generate cash flow in about nine months, compared to three years for new construction. Executive Chairman Frank Holmes said the milestone reflects the company’s “dual engine” model to drive growth in Bitcoin and AI overall. CEO Aydin Kilic added that by reusing infrastructure, Hive can scale efficiently “all powered by renewable energy.”
Hive’s BUZZ division in Toronto plans to host an additional 2,000 GPUs in 2026 with support from a colocation partnership with Bell Canada. Hive expects to operate approximately 6,000 GPUs across its sites by 2026 to support AI training and inference workloads.
Founded in 2017, Hive Digital is the first publicly traded company to mine digital assets using only green energy, and is now merging blockchain infrastructure with the accelerating AI super cycle.
FAQ
- What is Hive Digital Technologies’ current Bitcoin mining capacity?Hive exceeds 22 EH/s in global Bitcoin mining capacity.
- Where is Hive expanding its AI cloud business?The company is converting its Boden, Sweden site into a Tier-3 HPC facility.
- How many GPUs does Hive deploy for AI workloads?Hive plans to deploy 2,000 NVIDIA GPUs in Sweden and another 2,000 in Toronto by 2026.
- What are Hive’s short-term mining goals?The company aims to achieve 25 EH/s by Thanksgiving in the US.