Bitcoin miner HIVE targets 25 exahashes per second (EH/s), shares surge 10% in 5 days
Since May, HIVE explained that this growth has more than doubled the company's daily Bitcoin (BTC) production, now exceeding 8 BTC per day. The company attributed this growth to the rapid deployment of next-generation Bitmain S21+ Hydro miners at its Yguazú facility in Paraguay.
HIVE's hash rate reaches 16 exahashes per second (EH/s), a sign of accelerating Bitcoin mining expansion. Nasdaq: HIVE on Monday, August 25,
In the third phase, over 5 exahashes per second (EH/s) of capacity has been commissioned at the site, with new mining machines arriving weekly. HIVE stated that the third phase will launch in September at its Valenzuela site. The company's fully funded final phase of the expansion plan is expected to increase daily production to nearly 12 BTC, based on today's network difficulty.
The company also expects its global equipment efficiency to increase to approximately 18.4 joules per terahash (J/TH). When Bitcoin trades at approximately $113,000 per coin and the network difficulty is set at 129T, HIVE estimates its mining profit margin after electricity costs to be close to 60%.
Founded in 2017, HIVE Digital Technologies builds and operates sustainable blockchain and AI data centers powered entirely by renewable hydroelectric energy across Canada, Sweden, and Paraguay. While its stock is down 8% year-to-date, it has risen over 10% over the past five trading days.
HIVE has a market capitalization of $557 million and 214,305,000 shares outstanding. Financial data from the miner alone shows that the company holds approximately 610 BTC, valued at over $68 million.
