- HIVE Digital Technologies (HIVE, Financial) surpasses 10 EH/s Bitcoin hashrate, producing over 5 Bitcoin daily.
- Buzz HPC, HIVE's subsidiary, achieves $20 million in annualized revenue ahead of schedule.
- HIVE targets to expand Bitcoin mining hashrate to 25 EH/s by Q4 2025 with fully funded operations.
HIVE Digital Technologies Ltd. (HIVE) has achieved a remarkable milestone by exceeding 10 Exahash per second (EH/s) in global Bitcoin mining hashrate. This marks a significant leap in their operational capacity by adding 1 EH/s to their fleet every week over the past month. The advancements place HIVE ahead of its Phase 1 schedule to reach 11.5 EH/s by June 2025, and the company is ambitiously targeting 25 EH/s by the fourth quarter of 2025. Currently, HIVE's operations boast an impressive fleet efficiency of 20 Joules per Terahash, yielding over 5 Bitcoin daily.
Additionally, HIVE's high-performance computing subsidiary, Buzz HPC, has reached a significant achievement with its GPU cloud business, generating an annualized run-rate revenue of $20 million, one month earlier than anticipated. Buzz HPC now manages over 5,000 cutting-edge GPUs dedicated to AI workloads. The management highlights that the GPU cloud business could potentially be valued at 10 to 20 times its annualized cash flows, underscoring Buzz HPC's growth and market potential.
Frank Holmes, Co-Founder and Executive Chairman of HIVE, expressed pride in the company's rapid scaling and robust financial performance, particularly noting the efficiency and strategic foresight in HIVE's expansion plans. With its focus on sustainable blockchain infrastructure powered by green energy, HIVE continues to maintain its status as a leader in the digital asset mining and AI computing sector.
