HIVE Digital Applied sciences, the publicly listed Bitcoin miner from Wall Avenue (NASDAQ: HIVE), introduced its January manufacturing outcomes alongside a big growth into Paraguay.
Regardless of the general slowdown within the business and a decline in manufacturing reported by different miners, HIVE managed to take care of its ranges from late 2024.
The blockchain infrastructure supplier mined 102 Bitcoin in January whereas sustaining a mean hashrate of 5.7 Exahash per second (EH/s). The corporate’s Bitcoin holdings reached 2,657 BTC, valued at roughly $271 million at month-end, reflecting a 34% improve year-over-year.
HIVE’s January operations maintained robust effectivity metrics, reaching a mean day by day manufacturing of three.3 Bitcoin, equal to 18 BTC per Exahash. The corporate’s mining fleet operated at 22 Joules per Terahash, with peak efficiency reaching 6 EH/s for Bitcoin-only mining and 6.4 EH/s for Bitcoin-equivalent hashrate.
Aydin Kilic, President & CEO of HIVE
“We’re focusing on a blended fleet effectivity of 16.5 J/TH, positioning HIVE among the many most energy-efficient Bitcoin miners globally,” commented Aydin Kilic, President and CEO of HIVE. “With constant high business rankings for uptime effectivity, we stay dedicated to operational excellence.”
On the finish of 2024, the corporate introduced its choice to maneuver its headquarters from Vancouver, Canada, to San Antonio, Texas, signaling a strategic shift towards the U.S. market.
Miners Face Challenges in 2025
In comparison with December 2024, HIVE mined only one fewer Bitcoin, which is a robust end result relative to its rivals. This week, Finance Magnates reported that main U.S. Bitcoin miners skilled a drop in manufacturing in January, as weather-related disruptions and a rising hashrate impacted operations.
For instance, Marathon Digital Holdings (NASDAQ: MARA), one of many largest miners within the business, noticed a 12% decline in month-to-month manufacturing, mining 750 Bitcoin in January in comparison with 865 in December.
In the meantime, Hut 8 (NASDAQ: HUT) targeted on infrastructure upgrades through the month, however its Bitcoin manufacturing fell to 65 BTC from 89 BTC the earlier month.
HIVE’s January 2025 Bitcoin Manufacturing Replace:
🟠 102 Bitcoin Mined in January
🟠 2,657 BTC in HODL PortfolioFull particulars: https://t.co/86eZDVIK2l pic.twitter.com/9TPv9jVlHK
— HIVE Digital Applied sciences (@HIVEDigitalTech) February 6, 2025
Paraguay Enlargement
HIVE additionally unveiled plans to accumulate Bitfarms’ 200-megawatt hydro-powered Bitcoin mining facility in Paraguay. The acquisition is anticipated to catapult HIVE’s world Bitcoin mining hashrate to 25 EH/s by September 2025, representing a 317% improve from present ranges.
Frank Holmes, Govt Chairman of HIVE
“This acquisition makes us one among Latin America’s largest Bitcoin mining operators,” Frank Holmes, Govt Chairman of HIVE, stated. “We’re deepening our relationship with Paraguay President Santiago Peña and key political leaders to help our rising presence there, which is able to convey mutual financial advantages for HIVE shareholders and the area people.”
The corporate estimates the whole web value to finish the Bitfarms website at $400,000 per megawatt. Upon completion, HIVE’s complete operational capability is projected to succeed in roughly 430 MW by the third quarter of 2025.
The corporate additionally strengthened its management workforce by appointing Lieutenant Basic (Ret.) John R. Evans Jr. to its World Technique Advisory Committee.
