HIVE Digitial’s Mining Capacity Soars 283% as Firm Eyes 25 EH/s by Thanksgiving

HIVE Digital Technologies (HIVE) reported that it has reached 23 exahashes per second (EH/s) of bitcoin BTC$107,501.95 mining capacity while ramping up production to generate income that will fund the expansion of its artificial intelligence (AI) computing infrastructure.

The hashrate represents 283% growth this year and is on track to reach 25 EH / s before the end of the month, the company said on its website. The increase is fueled by a full hardware deployment at its 100 megawatt (MW) hydroelectric campus in Paraguay, which is powered by the Itaipú dam. HIVE has arrived 10 EH/s of mining capacity in May.

At the same time, HIVE is converting parts of its bitcoin mining footprint into liquid-cooled, AI-ready data centers. A recent land acquisition in Grand Falls, New Brunswick, could support 25,000 GPUs alone, as the company transitions the site to high performance computing (HPC) standards.

These facilities can stay online during maintenance and are built for businesses that require constant uptime, such as AI cloud platforms and financial services. The additional facilities in Toronto and Sweden will bring the company’s expected GPU total to 36,000 by the end of 2026, up from about 5,000 today, the firm said.

As demand for compute-intensive AI workloads grows, the company is betting that its renewable, already-built facilities will give it a cost and speed advantage over land-based builds.

HIVE currently has around 2,201 BTC in its treasury, making it the 34th largest holding of digital assets, according to the Bitcoin treasures data.

The company’s shares fell 2.9% in pre-market trading on Monday.