HIVE Digital Technologies reported February Bitcoin production of 89 BTC, totalling 2,620 BTC valued at $220 million. The company aims to expand its mining capacity in Paraguay and achieved significant advancements in high-performance computing. HIVE’s leadership changes align with its focus on Bitcoin and AI, with plans to enhance its operational efficiency.
HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE) reported mining production of 89 Bitcoin (BTC) in February, increasing their total Bitcoin holdings to 2,620, which is valued at $220 million as of February 28. The company maintained an average mining capacity of 5.6 exahash per second (EH/s), reaching a peak BTC-only hashrate of 6.2 EH/s, with a daily production average of 3.2 BTC.
To fund capital investments, HIVE strategically sold a portion of its Bitcoin holdings, which includes investment in Bitfarms’ 200-megawatt hydro-powered mining facilities in Paraguay. Frank Holmes, Executive Chairman of HIVE, stated, “As we continue to expand and strengthen our executive team, we are aligning top-tier leadership with our strategic focus on two of the most transformative trends of our time—Bitcoin and AI.”
The company’s CEO, Aydin Kilic, confirmed that their expansion plans in Paraguay are on schedule, with ambitions to quadruple their hashrate to 25 EH/s by September 2025. Kilic emphasized, “We are focused on executing a transformative year that positions HIVE as one of the largest and most efficient Bitcoin miners in the world.”
In terms of high-performance computing developments, HIVE achieved $13 million in annualized run-rate revenue from their GPU fleet in late February, with estimates to reach $20 million by Q2 2025 based on current growth. Furthermore, Kilic noted that new GPU servers are being deployed for AI processing.
Additionally, HIVE’s executive team has visited the Bitfarms Yguazú site in Paraguay for a construction assessment. COO Luke Rossy expressed satisfaction concerning the progress made, stating, “We were extremely pleased with the progress we witnessed there and are excited to finalize the strategic acquisition of Bitfarms’ 200 MW Yguazú site in Q1 2025.” The 100 MW Valenzuela facility is also on track for energization by June 2025.
HIVE Digital Technologies reported significant advancements in Bitcoin production and strategic expansions in Paraguay. The company sold part of its Bitcoin holdings to invest in capital assets and aims to quadruple its hashrate by September 2025. Furthermore, they are experiencing growth in their high-performance computing segment. HIVE’s commitment to innovation is evident in its leadership appointments and ongoing facility constructions, reflecting a focus on becoming a leader in efficient Bitcoin mining.
Original Source: www.proactiveinvestors.com
