HIVE Digital Capacity Crosses 10 EH/s in May, Aims to More Than Double That by Year-End
Bitcoin miner HIVE Digital Technologies (HIVE) has surpassed 10 exahash per second (EH/s) in hashrate capacity, a 58% increase from April, driven by the launch of a 100-megawatt hydro-powered site in Paraguay. The company said in a press release on Friday that it's on track to reach 25 EH/s by the end of 2025.
The firm mined 139 bitcoin in May, or an average rate of 4.5 BTC per day. Peak capacity hit 10.4 EH/s while average hashrate for the month stood at 8.5 EH/s. HIVE said its fleet efficiency remained steady at around 20 joules per terahash (J/TH), and its network share now exceeds 1% of global Bitcoin mining power.
The new facility in Paraguay reflects a broader trend in the mining industry: the race to deploy next-generation ASIC miners rapidly and at scale in regions with abundant renewable power.
Co-founder Frank Holmes emphasized the company's speed and flexibility, pointing to its Buzz HPC division, which supports AI cloud infrastructure alongside Bitcoin mining. CEO Aydin Kilic said the company's goal for the summer is 18 EH/s, and that fleet upgrades should allow for a daily BTC output of over 12 by the fourth quarter — potentially at a production cost below $50,000 per coin.
HIVE operates facilities in Canada, Sweden and Paraguay, powered entirely by hydroelectricity. The company was the first publicly listed crypto miner on the TSX Venture Exchange in 2017.
HIVE shares are higher by 13% in New York trade on Friday as the mining sector rallies alongside bitcoin's gain to above $105,000.
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CNN
43 minutes ago
- CNN
Should you invest in crypto now?
Much has changed in the crypto landscape over the past year and a half. And with it, so may more investors' minds about cryptocurrencies — especially bitcoin, the (very young) granddaddy of them all. Crucially, crypto has gained greater acceptance among regulators and large institutional investors as an asset class that is likely here to stay. The Securities and Exchange Commission now regulates spot bitcoin and ethereum exchange-traded funds. Coinbase, the crypto currency exchange, is now on the S&P 500. Stablecoin provider Circle just went public. The Trump administration, meanwhile, is very supportive of crypto, and the Labor Department just rescinded its 2022 guidance urging 401(k) fiduciaries to 'exercise extreme care' if they include a crypto investment option to plan participants. With bitcoin now trading above $100,000 and US lawmakers actively working on crypto regulations, it may be worth revisiting the question of whether you should have exposure in your portfolio. The answer will be highly personal, driven by your risk tolerance, time horizon and knowledge. Despite being a crypto advocate, Tyrone Ross, founder of financial planning firm 401 Financial, put it this way: 'We have a long way to go before you should be YOLO-ing your way into crypto.' When financial advisers have been asked over the past several years whether they would recommend that clients invest in bitcoin or other cryptocurrencies, many were reluctant because digital assets were not regulated, pricing was highly volatile and their use case and valuation was hard for both adviser and client to understand. Unlike stocks, which can be valued on the basis of tangible components such a company's goods and services, bitcoin is considered a store of value, and its price is driven by what others are willing to pay for it. That caution was understandable, said Ric Edelman, who founded Edelman Financial Engines and then created the Digital Assets Council of Financial Professionals, which provides certification courses in blockchain and digital assets for financial professionals and investors. But, at this point, Edelman believes that advisers who value diversification as a strategy in their clients' portfolio — eg, across asset classes, sectors, etc. — would be remiss not to recommend adding at least a small amount of digital asset exposure. 'They ought to be cautious. But being cautious doesn't mean abstinence,' he noted. 'We've seen bitcoin reach all-time highs and seen institutional investors engage for the first time.' Several years ago, when crypto's future was far less certain, Edelman had recommended a 1% asset allocation to crypto, an amount small enough that even if a crypto investment fell to zero it would not greatly harm the long-term trajectory of a person's portfolio. In March this year, using bitcoin as an example, he compared the performance of a balanced 60% stocks/40% bonds portfolio with an average annual return of 7% over a decade, to a portfolio where the equity portion is reduced to 59% in favor of a 1% investment in bitcoin. In the extreme, if bitcoin became worthless the average return would only drop to 6.9%. And, equally extreme, if the price rose to $1 million, the return would increase to 7.4%. If the equity portion were reduced to 57% with 3% put into bitcoin, the average return drops to 6.8% in the worthless scenario and jumps to 8.2% if bitcoin hits $1 million. If bitcoin exposure were upped to 5%, the downside return would be 6.7% and the upside return would be 9%. Despite bitcoin trading around $100,000 — a nosebleed level relative to where it had fallen during the so-called crypto winter of 2022 — Edelman believes that the price still has a lot of upward potential because the number of bitcoins is permanently limited and demand for it is increasing. For those who have yet to invest in crypto and would like to, 'the best place to begin is bitcoin,' Edelman said. 'It is by the far the largest digital asset — and it's the digital asset of choice for institutional investors.' And, he added, 'it's different than all other digital assets. It's a store of value and a transmittal (instrument). All the others are designed for specific commercial uses and it's far less certain as to which of the others will be successful.' But investing directly in bitcoin and storing it in your own wallet can be a complicated proposition unless you know what you're doing. 'Scams are a big issue in this space,' Ross said. A far safer route for the novice crypto investor, he and Edelman said, is through an SEC-regulated bitcoin ETF. Not everyone is as immediately bullish as Edelman. In a March note to clients, TIAA chief investment officer Niladri Mukherjee said, 'While broadening enthusiasm around crypto adoption and the bitcoin ETFs are an encouraging sign for the industry, from an investment perspective, its value drivers will take time to develop and to be well understood by market participants.' Given that the industry is still 'quite opaque and unregulated,' Mukherjee added that individuals should do their due diligence before investing. But even before you do that, gut check yourself. When asked who absolutely should not invest in crypto, Edelman was quick to reply: 'Those who cannot emotionally tolerate volatility. Because we know (cryptocurrencies are) highly volatile. You're likely to sell when prices are low.' That's especially the case if you decide to invest directly in a given coin. A good way to test your appetite for volatility is to consider how much you might spend on a nice meal at a favorite restaurant and invest that amount into crypto if it doesn't strain your household budget. Then just watch to see what happens over the next several months, Ross said. 'Track it, read about it, understand its ebbs and flows.' In other words, educate yourself about how things work before making any real commitment to it. Then if you think you're comfortable enough, you might invest small amounts monthly — again, nothing that would compromise you financially, he suggested. In terms of an overall allocation of your assets, Lazetta Rainey Braxton, founder of the financial planning firm The Real Wealth Coterie, said you want an amount that is small enough that it won't undermine the valuation of your portfolio if things go south. And, she added, '(stick) with players that are well known and respected and have the infrastructure in place to make sure that they are offering a solid investment and also the information associated with that.' Trent Porter, a certified financial planner and certified public accountant at Priority Financial Partners, is not a big fan of crypto even with all the developments in recent months easing investment in the space. 'My core advice remains unchanged: Crypto exposure should match an investor's personal risk tolerance and capacity, keeping the allocation small (no more than 5%) for most people. Regulatory risk might have eased, but market risk is still very real, and as we all know, the regulatory environment can change quickly.'
CNN
an hour ago
- CNN
Should you invest in crypto now?
Much has changed in the crypto landscape over the past year and a half. And with it, so may more investors' minds about cryptocurrencies — especially bitcoin, the (very young) granddaddy of them all. Crucially, crypto has gained greater acceptance among regulators and large institutional investors as an asset class that is likely here to stay. The Securities and Exchange Commission now regulates spot bitcoin and ethereum exchange-traded funds. Coinbase, the crypto currency exchange, is now on the S&P 500. Stablecoin provider Circle just went public. The Trump administration, meanwhile, is very supportive of crypto, and the Labor Department just rescinded its 2022 guidance urging 401(k) fiduciaries to 'exercise extreme care' if they include a crypto investment option to plan participants. With bitcoin now trading above $100,000 and US lawmakers actively working on crypto regulations, it may be worth revisiting the question of whether you should have exposure in your portfolio. The answer will be highly personal, driven by your risk tolerance, time horizon and knowledge. Despite being a crypto advocate, Tyrone Ross, founder of financial planning firm 401 Financial, put it this way: 'We have a long way to go before you should be YOLO-ing your way into crypto.' When financial advisers have been asked over the past several years whether they would recommend that clients invest in bitcoin or other cryptocurrencies, many were reluctant because digital assets were not regulated, pricing was highly volatile and their use case and valuation was hard for both adviser and client to understand. Unlike stocks, which can be valued on the basis of tangible components such a company's goods and services, bitcoin is considered a store of value, and its price is driven by what others are willing to pay for it. That caution was understandable, said Ric Edelman, who founded Edelman Financial Engines and then created the Digital Assets Council of Financial Professionals, which provides certification courses in blockchain and digital assets for financial professionals and investors. But, at this point, Edelman believes that advisers who value diversification as a strategy in their clients' portfolio — eg, across asset classes, sectors, etc. — would be remiss not to recommend adding at least a small amount of digital asset exposure. 'They ought to be cautious. But being cautious doesn't mean abstinence,' he noted. 'We've seen bitcoin reach all-time highs and seen institutional investors engage for the first time.' Several years ago, when crypto's future was far less certain, Edelman had recommended a 1% asset allocation to crypto, an amount small enough that even if a crypto investment fell to zero it would not greatly harm the long-term trajectory of a person's portfolio. In March this year, using bitcoin as an example, he compared the performance of a balanced 60% stocks/40% bonds portfolio with an average annual return of 7% over a decade, to a portfolio where the equity portion is reduced to 59% in favor of a 1% investment in bitcoin. In the extreme, if bitcoin became worthless the average return would only drop to 6.9%. And, equally extreme, if the price rose to $1 million, the return would increase to 7.4%. If the equity portion were reduced to 57% with 3% put into bitcoin, the average return drops to 6.8% in the worthless scenario and jumps to 8.2% if bitcoin hits $1 million. If bitcoin exposure were upped to 5%, the downside return would be 6.7% and the upside return would be 9%. Despite bitcoin trading around $100,000 — a nosebleed level relative to where it had fallen during the so-called crypto winter of 2022 — Edelman believes that the price still has a lot of upward potential because the number of bitcoins is permanently limited and demand for it is increasing. For those who have yet to invest in crypto and would like to, 'the best place to begin is bitcoin,' Edelman said. 'It is by the far the largest digital asset — and it's the digital asset of choice for institutional investors.' And, he added, 'it's different than all other digital assets. It's a store of value and a transmittal (instrument). All the others are designed for specific commercial uses and it's far less certain as to which of the others will be successful.' But investing directly in bitcoin and storing it in your own wallet can be a complicated proposition unless you know what you're doing. 'Scams are a big issue in this space,' Ross said. A far safer route for the novice crypto investor, he and Edelman said, is through an SEC-regulated bitcoin ETF. Not everyone is as immediately bullish as Edelman. In a March note to clients, TIAA chief investment officer Niladri Mukherjee said, 'While broadening enthusiasm around crypto adoption and the bitcoin ETFs are an encouraging sign for the industry, from an investment perspective, its value drivers will take time to develop and to be well understood by market participants.' Given that the industry is still 'quite opaque and unregulated,' Mukherjee added that individuals should do their due diligence before investing. But even before you do that, gut check yourself. When asked who absolutely should not invest in crypto, Edelman was quick to reply: 'Those who cannot emotionally tolerate volatility. Because we know (cryptocurrencies are) highly volatile. You're likely to sell when prices are low.' That's especially the case if you decide to invest directly in a given coin. A good way to test your appetite for volatility is to consider how much you might spend on a nice meal at a favorite restaurant and invest that amount into crypto if it doesn't strain your household budget. Then just watch to see what happens over the next several months, Ross said. 'Track it, read about it, understand its ebbs and flows.' In other words, educate yourself about how things work before making any real commitment to it. Then if you think you're comfortable enough, you might invest small amounts monthly — again, nothing that would compromise you financially, he suggested. In terms of an overall allocation of your assets, Lazetta Rainey Braxton, founder of the financial planning firm The Real Wealth Coterie, said you want an amount that is small enough that it won't undermine the valuation of your portfolio if things go south. And, she added, '(stick) with players that are well known and respected and have the infrastructure in place to make sure that they are offering a solid investment and also the information associated with that.' Trent Porter, a certified financial planner and certified public accountant at Priority Financial Partners, is not a big fan of crypto even with all the developments in recent months easing investment in the space. 'My core advice remains unchanged: Crypto exposure should match an investor's personal risk tolerance and capacity, keeping the allocation small (no more than 5%) for most people. Regulatory risk might have eased, but market risk is still very real, and as we all know, the regulatory environment can change quickly.'
CNET
an hour ago
- CNET
At WWDC, How Will Apple Address Its Lackluster First Year of Apple Intelligence?
At WWDC 2025, how is Apple going to spin what can be objectively seen as a year of AI promises unkept? Leading up to WWDC 2024, AI had broken into the mainstream, capturing the imagination of early adopters and the general public. Services like Google's Gemini and OpenAI's ChatGPT showcased features that used large language models and generative AI to write, search the internet and create near-photorealistic artwork in a way that only books and movies had imagined before. AI was the future, and all the major tech companies needed to be pointed in that direction. But Apple, being secretive by nature, kept its AI plans closely guarded. By the time Tim Cook, Apple's CEO, took the stage during last year's WWDC keynote presentation, analysts and financial experts thought the company had fallen way behind on AI, especially after Google featured nothing but AI at its Google I/O event. When Cook introduced Apple Intelligence at WWDC, the collection of features was a more modest approach to incorporating AI into the iPhone and Mac. Far from seeming like a straggler, Apple had us praising a measured, practical rollout. Instead of throwing more slop against the wall, Apple Intelligence promised to focus on practical features like notification summaries and removing distractions from photos. Siri was going to be the loom that wove together various threads of your personal information and become a true virtual assistant. But after a slow rollout of Apple Intelligence features, we learned about Siri's internal struggles, and Apple acknowledged that progress was "going to take us longer than we thought." Now it's unclear whether Siri will advance significantly at all this year. So how will Apple deal with this AI-generated elephant in the room? Will the presenters hype what's been accomplished so far? Or maybe ignore the issue altogether and focus on whatever is coming next? That seems like the most likely -- the most Apple -- way for this to go. However, let's not forget that WWDC as a whole is still primarily an event for developers, treating them like members of an exclusive club even as the keynote event serves to showcase technologies that will dominate the rest of the year for everyone else. Apple's senior vice president of software engineering, Craig Federighi, has consistently delivered news with a light touch. As just one example, the fabulously coiffed exec, sometimes referred to as "Hair Force One," even donned a silver hair-shaped helmet during the introduction to WWDC 2024 in the guise of parachuting over Apple's Cupertino, California, campus. "Hair Force One," Craig Federighi, prepares to skydive into last year's WWDC keynote presentation. Apple/Screenshot by Jeff Carlson/CNET And even though tech giants like Apple and Google are laser-focused on competing to own the AI future, they're not always so serious that they don't poke fun at each other, as Rohan Shah, senior product manager, Android platform, did during this year's Google I/O Android Show when he mentioned that Gemini "isn't just an app," and continued out of the side of his mouth, "like on some other phones." I'm guessing Federighi will have a few clever lines acknowledging that Apple's aspirations were higher than the state of the art, give the audience a "we all know what I mean" knowing wink, and then push through to what's new in the next versions. Because honestly, we'll all be wondering how Apple is going to move forward to make up the ground it's lost so far. We'll know for sure during the WWDC 2025 keynote presentation on Monday, June 9, which Apple will stream live starting at 10 a.m. PT. Members of the CNET team are attending the event to report on developments as they drop -- hopefully not from the sky by parachute this year.
