Latest news with #AydinKilic
Yahoo
3 days ago
- Business
- Yahoo
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.
Yahoo
28-05-2025
- Business
- Yahoo
RETRANSMISSION: HIVE Digital Technologies Surpasses 10 EH/s of Bitcoin Hashrate as Expansion in Paraguay Accelerates
This news release constitutes a "designated news release for the purposes of the Company's amended and restated prospectus supplement dated May 14, 2025, to its short form base shelf prospectus dated September 11, 2024. San Antonio, Texas--(Newsfile Corp. - May 28, 2025) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the "Company" or "HIVE"), a global leader in sustainable digital infrastructure, is pleased to announce it has surpassed 10 Exahash per second (EH/s) of global Bitcoin mining hashrate, and in the process has added 1 EH/s each week for the last month. As of today, HIVE reports a total operating hashrate of over 10 EH/s and is ahead of schedule to reach its Phase 1 objective of 11.5 EH/s by the end of June 2025, with a global fleet efficiency of 20 Joules per Terahash. HIVE continues to execute on its strategic expansion toward its 25 EH/s target for calendar Q4 2025 and is working hard to maintain the cadence of its rapid scaling. The Company notes that this growth is fully funded. BUZZ HPC Surpasses Growth Milestone in HPC Cloud, Achieves $20M ARR Ahead of Schedule The Company is proud to announce that its high-performance computing ("HPC") subsidiary, Buzz HPC, has surpassed a key growth milestone-reaching a $20 million annualized run-rate revenue in its GPU cloud business. This achievement comes one month ahead of the Company's target of June 2025, underscoring the successful execution of HIVE's aggressive HPC expansion strategy. Buzz HPC's rapid scale-up reflects strong operational momentum, with over 5,000 cutting-edge GPUs now actively deployed. This milestone not only validates the Company's vision for HPC growth but also reinforces its position as an emerging leader in GPU cloud infrastructure. Executive Commentary Frank Holmes, Co-Founder and Executive Chairman of HIVE, commented: "Our HPC growth has outpaced expectations-from early projections to now reaching $20M in annualized revenue. With approximately 5,000 GPUs powering AI workloads, we believe our GPU cloud business is a high-value asset, potentially worth 10 to 20 times its annualized cash flows." Aydin Kilic, President & CEO of HIVE, stated: "It is a monumental accomplishment for HIVE to reach 10 EH/s, and we are now producing over 5 Bitcoin per day. I am very proud of our team for executing. What is remarkable is we have added approximately 1 EH/s of Bitcoin mining capacity on a weekly basis, exceeding our previous guidance to bring on 1 EH/s every 2 weeks. We have done so consecutively for the last month. Our Country President Gabriel Lamas has been consistently executing on his targets, embodying the high-performance work culture at HIVE." About HIVE Digital Technologies Ltd. HIVE Digital Technologies Ltd. is a pioneering technology company advancing sustainable blockchain and AI infrastructure powered by green energy. As the first cryptocurrency miner to go public on the TSX Venture Exchange in 2017, HIVE has grown into a global leader in digital asset mining and AI computing. With operations in Canada, Sweden, and Paraguay, HIVE continues to innovate while reducing its environmental footprint. For more information, visit or connect with us on: X: On Behalf of HIVE Digital Technologies Ltd. "Frank Holmes"Executive Chairman For further information, please contact: Nathan Fast, Director of Marketing and Branding Frank Holmes, Executive Chairman Aydin Kilic, President & CEO Tel: (604) 664-1078 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Forward-Looking Information Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian and United States securities legislation and regulations that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes but is not limited to: the acquisition of the new site in Paraguay and its potential, the timing of it becoming operational; business goals and objectives of the Company; the acquisition, deployment and optimization of the mining fleet and equipment; the continued viability of its existing Bitcoin mining operations; the receipt of government consents; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon. Factors that could cause actual results to differ materially from those described in such forward looking information include, but are not limited to: the inability to enter into a binding agreement and complete the acquisition of the Paraguay site on the terms as announced or at all; the inability to complete the construction of the Paraguay acquisition on an economic and timely basis and achieve the desired operational performance; the ongoing support and cooperation of local authorities and the Government of Paraguay; the volatility of the digital currency market; the Company's ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company's operations; the regulatory environment for cryptocurrency in Canada, the United States and the countries where our mining facilities are located; economic dependence on regulated terms of service and electricity rates; the speculative and competitive nature of the technology sector; dependency on continued growth in blockchain and cryptocurrency usage; lawsuits and other legal proceedings and challenges; government regulations; the global economic climate; dilution; future capital needs and uncertainty of additional financing, including the Company's ability to utilize the Company's ATM Program and the prices at which the Company may sell Common Shares in the ATM Program, as well as capital market conditions in general; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the need for continued technology change; the ability to maintain reliable and economical sources of power to run its cryptocurrency mining assets; the impact of energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; share dilution resulting from the ATM Program and from other equity issuances; the construction and operation of facilities may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of electricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power for the Company to operate cryptocurrency mining assets; the risks of an increase in the Company's electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and the adverse impact on the Company's profitability; the ability to complete current and future financings, any regulations or laws that will prevent the Company from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; an inability to predict and counteract the effects of pandemics on the business of the Company, including but not limited to the effects of pandemics on the price of digital currencies, capital market conditions, restriction on labour and international travel and supply chains; and, the adoption or expansion of any regulation or law that will prevent the Company from operating its business, or make it more costly to do so; and other related risks as more fully set out in the Company's disclosure documents under the Company's filings at and The forward-looking information in this news release reflects the Company's current expectations, assumptions, and/or beliefs based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's objectives, goals or future plans, the timing thereof and related matters. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance, and accordingly, undue reliance should not be put on such information due to its inherent uncertainty. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, other than as required by law. 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Yahoo
23-04-2025
- Business
- Yahoo
Bitcoin miner HIVE Digital completes the first 100 MW facility in Paraguay
HIVE Digital (Nasdaq: HIVE) has completed construction and energization of phase 1 infrastructure at the first 100 megawatt (MW) facility in Yguazù, Paraguay, the Bitcoin mining firm announced on Apr. 20. The Yguazù facility is an air-cooled data center backed by a fully energized 200 MW substation. The completion lets the facility host a hashrate capacity of 5 exahash per second (EH/s) for application-specific integrated circuit (ASIC) crypto miners. HIVE is currently running at a capacity of 200 petahash per second (PH/s) at this facility using its BUZZ miners. The firm expects 8,000 additional miners to be online by the end of April. Initial deliveries of ASICs, including Bitmain S21+ units, have arrived at the facility. The firm expects more than 20,000 units to be delivered before the end of May. HIVE expects the hashrate capacity in Paraguay to scale to 5 EH/s and that across all operations to 11.5 EH/s by the end of the second quarter of 2025. 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 network. It is calculated in terms of hashes per second, i.e., the number of hash operations executed per second. HIVE President and CEO Aydin Kilic said, 'Our fiscal year-end marked a strategic pivot — no debt, just smart execution. Our expansion from 6.5 EH/s to 11.5 EH/s has been paid and we're moving fast.' HIVE Digital is a Bitcoin mining firm with operations in Canada, Sweden, and Paraguay. The company's stock has climbed 15% since the announcement to $1.715 at the time of writing. Sign in to access your portfolio
Associated Press
25-03-2025
- Business
- Associated Press
HIVE Digital Technologies Hopes To Quadruple Hashrate With Strategic Paraguay Deal, Receives Wall Street Endorsement
DETROIT, MICHIGAN - March 25, 2025 ( NEWMEDIAWIRE) - Since its launch in 2009, Bitcoin has sparked significant interest in blockchain technology and decentralized finance. At the same time, data center computing demand is surging. Companies poured hundreds of billions of dollars into data centers in 2024, and that pace is expected to accelerate in 2025. One company that operates at the intersection of both of these exciting technologies is HIVE Digital Technologies (NASDAQ: HIVE), a San Antonio, Texas-based data center leader. HIVE says it has gotten off to a running start in 2025 and has recently published its production update for February. A key highlight was the company's strong Bitcoin production, which aligns well with its bold expansion strategy, both internally and externally. Chief among these milestones was an update on HIVE's key acquisition of Bitfarms' hydro-powered Bitcoin mining assets in Paraguay, which the company hopes will set the stage for massive growth this year and beyond. HIVE's expansion drive coincides with increasing policy support for Bitcoin in the U.S., and HIVE's stock offers a way for interested investors to gain exposure to the Bitcoin mining sector. HIVE's Strategic Paraguay Deal In February alone, HIVE Digital Technologies reported that it mined nearly 90 Bitcoins, bolstering its portfolio to 2,620 BTC, which were valued at $220 million at last check, with BTC price being off its peak. The company has grown its Bitcoin holdings by nearly 25% year-over-year but also divested a portion of its holdings to support its strategic growth. HIVE directed the proceeds toward several acquisitions of hydro-powered Bitcoin mining assets in Paraguay, where it has set its sights on transformative future growth. HIVE has acquired a total of 300 MW of Bitcoin mining capacity in Paraguay, including 200 MW from Bitfarms, which is all expected to be operational in 2025, according to the company. 'In February, our executive team conducted a site visit to Bitfarms' Yguazú facility, gaining firsthand insights into its ongoing construction. 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,' said Luke Rossy, COO of HIVE. HIVE's investments in Paraguay have been game-changers, with the company marking 2025 as a transformative year for its growth. The strategic acquisitions in Paraguay are expected to quadruple its hashrate, a key measure of computational power that drives blockchain equation-solving and Bitcoin creation. When it comes to Bitcoin mining, efficiency is extremely important, as it determines outcomes like profits and the sustainability of the operation. According to HIVE Digital Technologies president and CEO Aydin Kilic, the company's '300 MW expansion in Paraguay to 4x our hashrate from 6 EH/s to 25 EH/s by September 2025 remains on track.' To support its growth plans, the company has also been expanding its internal team. HIVE Digital Technologies has appointed seasoned digital infrastructure executive Craig Tavares as President and Chief Operating Officer of its BUZZ HPC business segment, where it continues to drive innovation in high-performance computing and GPU cloud services. Tavares is tasked with growing the company's revenue to the $100 million threshold. HIVE Digital Technologies Stock 'Intriguing,' Says RosenBlatt Given the accelerated pace at which growth is unfolding at HIVE Digital Technologies, some members of the analyst community have been increasingly recognizing the stock's potential. Most recently, analyst firm Rosenblatt has jumped on the HIVE bandwagon, initiating coverage of the stock with a 'buy' rating and a $6 price target. Rosenblatt analysts find HIVE Digital Technologies' stock 'intriguing,' saying it's poised to 'enter an unprecedented growth phase' amid its ambitious goal to quadruple its hashrate, driven by its trio of newly-announced hydro-powered data centers. HIVE was an early mover in the Bitcoin mining space, a position that may provide a significant edge over competitors. The company highlights its proven ability to navigate shifting cryptocurrency market cycles, showcasing the financial discipline essential for success in this volatile sector. With Bitcoin mining expansion a key focus for 2025, driven primarily by strategic acquisitions in Paraguay, HIVE believes it is poised for remarkable growth, with its potential reaching new heights. HIVE Digital Technologies is extending an invitation to investors to attend a celebratory investor dinner in mid-April marking the company's U.S. headquarters' relocation to San Antonio, Texas – which it sees as the Bitcoin capital. Not only will shareholders be able to enjoy local cuisine and cocktails but they will be given the opportunity to connect with HIVE Co-Founder and Executive Chairman Frank Holmes. Investors can learn more about the company here.
