Bitcoin miner HIVE Digital Technologies (HIVE) has surpassed 10 exahash per second (EH/s) in hashrate capacity, a 58% increase from April, driven by the launch of a 100-megawatt hydro-powered site in Paraguay. The company said in a press release on Friday that it’s on track to reach 25 EH/s by the end of 2025.
The firm mined 139 bitcoin in May, or an average rate of 4.5 BTC per day. Peak capacity hit 10.4 EH/s while average hashrate for the month stood at 8.5 EH/s. HIVE said its fleet efficiency remained steady at around 20 joules per terahash (J/TH), and its network share now exceeds 1% of global Bitcoin mining power.
The new facility in Paraguay reflects a broader trend in the mining industry: the race to deploy next-generation ASIC miners rapidly and at scale in regions with abundant renewable power.
Co-founder Frank Holmes emphasized the company’s speed and flexibility, pointing to its Buzz HPC division, which supports AI cloud infrastructure alongside Bitcoin mining. CEO Aydin Kilic said the company’s goal for the summer is 18 EH/s, and that fleet upgrades should allow for a daily BTC output of over 12 by the fourth quarter — potentially at a production cost below $50,000 per coin.
HIVE operates facilities in Canada, Sweden and Paraguay, powered entirely by hydroelectricity. The company was the first publicly listed crypto miner on the TSX Venture Exchange in 2017.
HIVE shares are higher by 13% in New York trade on Friday as the mining sector rallies alongside bitcoin’s gain to above $105,000.