Bitcoin mining company HIVE Digital records 18% jump in monthly output
With a global footprint in Canada, Sweden, and Paraguay, HIVE Digital Technologies (Nasdaq: HIVE) is one of the world's most prominent Bitcoin mining firms.
On July 7, the miner announced that it has recorded a rise of 18% in monthly Bitcoin production in June.
Thanks to the firm successfully running the Phase 1 infrastructure at the new 100 megawatt (MW) facility in Yguazú, Paraguay, HIVE mined 164 Bitcoin in June.
In contrast, the firm mined 139 Bitcoin in May.
Crypto mining is the process of validating and adding transactions to a blockchain by solving cryptographic problems called hashes.
Hashrate is a metric that measures how quickly a crypto miner performs cryptographic calculations to solve blocks in a blockchain. It is calculated in terms of hashes per second, i.e., the number of hash operations executed per second.Since the end of March, the mining firm said it has almost doubled its hashrate as it reached 11.4 exahash per second (EH/s) in June.
HIVE claimed to mine 15 Bitcoin per EH/s in June. It mined 5.5 Bitcoin on a daily basis during the month, it said.
HIVE also announced the official launch of Phase 2 (second 100 MW) at its Paraguay facility. The unit is already running at 0.4 EH/s, more than 5% of the total potential Phase 2 capacity.
Once fully energized, Phase 2 is expected to generate approximately 6.5 EH/s from Bitmain S21+ Hydro miners. It is estimated to expand HIVE's global fleet efficiency to nearly 18.5 J/TH.
HIVE's management expects the firm to scale up to 25 EH/s by American Thanksgiving, i.e., 27 Nov., with the launch of Phase 2.
HIVE co-founder and executive chairman Frank Holmes said, 'With two 100 MW phases in Paraguay and our rapid expansion, we are more than halfway to our 2025 production goal of 12 BTC per day."The Paraguay facility is a key component in HIVE's goal of hitting the target of mining 12 Bitcoin a day toward the end of 2025 as the miner scales revenue and cash flow margins.
HIVE President & CEO Aydin Kilic said, 'Paraguay has become a centerpiece of our green Bitcoin mining strategy. With hydro infrastructure, fiber, and cooling systems now fully operational, we're deploying new capacity at record speed. We expect a major lift in July as Phase 2 scales, propelling us toward our 25 EH/s goal.'
In addition to Bitcoin, HIVE Digital is also focused on expanding its AI prowess.
In June, BUZZ High Performance Computing Inc. (BUZZ HPC), the company's HPC subsidiary, signed a purchase agreement for a 7.2 MW Tier 3 data center facility based in Toronto, Canada.It will support up to 5,000 next-generation graphics processing units (GPUs) for sovereign Canadian AI compute.
During April to June, HIVE Digital issued 38,109,822 common shares that generated gross proceeds of $70 million.
The firm said it is using net proceeds to fuel growth in ASIC and GPU infrastructure, data center expansions, and working capital needs.
The HIVE stock jumped 3.96% to trade at $2.36 at press time.
Bitcoin mining company HIVE Digital records 18% jump in monthly output first appeared on TheStreet on Jul 8, 2025
This story was originally reported by TheStreet on Jul 8, 2025, where it first appeared.
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