HIVE Digital Applied sciences, the publicly listed Bitcoin miner from Wall Road (NASDAQ: HIVE), introduced its January manufacturing outcomes alongside a big growth into Paraguay.
Regardless of the general slowdown within the trade 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% enhance year-over-year.
HIVE’s January operations maintained robust effectivity metrics, reaching a mean every 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 concentrating 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 prime trade rankings for uptime effectivity, we stay dedicated to operational excellence.”
On the finish of 2024, the corporate introduced its determination 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 powerful outcome 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 trade, 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) centered on infrastructure upgrades throughout 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 international Bitcoin mining hashrate to 25 EH/s by September 2025, representing a 317% enhance from present ranges.
Frank Holmes, Government Chairman of HIVE
“This acquisition makes us considered one of Latin America’s largest Bitcoin mining operators,” Frank Holmes, Government Chairman of HIVE, mentioned. “We’re deepening our relationship with Paraguay President Santiago Peña and key political leaders to help our rising presence there, which can carry mutual financial advantages for HIVE shareholders and the area people.”
The corporate estimates the full internet price to finish the Bitfarms website at $400,000 per megawatt. Upon completion, HIVE’s complete operational capability is projected to achieve roughly 430 MW by the third quarter of 2025.
The corporate additionally strengthened its management group by appointing Lieutenant Normal (Ret.) John R. Evans Jr. to its World Technique Advisory Committee.
