- HIVE Digital Technologies (HIVE, Financial) surpasses 10 EH/s in Bitcoin mining hashrate, producing over 5 Bitcoin daily.
- Buzz HPC, a subsidiary of HIVE, achieves $20 million in annualized run-rate revenue ahead of schedule.
- HIVE aims to expand its Bitcoin hashrate to 25 EH/s by Q4 2025, with strong fleet efficiency at 20 Joules per Terahash.
HIVE Digital Technologies Ltd. (HIVE) has achieved a significant operational milestone by surpassing 10 Exahash per second (EH/s) of Bitcoin mining capacity. The company now produces over 5 Bitcoin daily, showcasing its exceptional operational execution, particularly in its Paraguay expansion. This achievement is part of HIVE's strategy to reach an 11.5 EH/s target by June 2025, with an ambitious goal of 25 EH/s by Q4 2025.
HIVE's mining fleet maintains an impressive efficiency of 20 Joules per Terahash, positioning the company competitively within the mining industry, where energy efficiency is crucial for profitability. Importantly, the expansion to 25 EH/s is fully funded, mitigating concerns of potential dilution that often accompany rapid scaling efforts.
In addition to its mining operations, HIVE's subsidiary, Buzz HPC, has reached $20 million in annualized run-rate revenue from its GPU cloud business. This milestone was achieved one month ahead of the projected timeline and includes the active deployment of over 5,000 GPUs for AI workloads. Buzz HPC's growth offers a strategic hedge against Bitcoin mining volatility and taps into the burgeoning AI infrastructure market.
Executive Chairman Frank Holmes has indicated that Buzz HPC's GPU cloud business could be valued at 10-20 times its annualized cash flows, suggesting potential valuations of $200-400 million for this segment alone. This points to a potentially undervalued diversification strategy within HIVE's broader business model.
