HIVE Digital Hashrate Surges 58% in May, Powered by New Hydro Facility in Paraguay
HIVE Digital Technologies (HIVE) has crossed a major milestone in its mining capacity, reaching over 10 exahash per second (EH/s) — a 58% jump from April — thanks to the activation of its new 100-megawatt hydro-powered facility in Paraguay, the company announced Friday.
The firm mined 139 BTC in May, averaging 4.5 bitcoin per day, with peak hashrate hitting 10.4 EH/s and a monthly average of 8.5 EH/s. The company also noted that fleet efficiency held steady at 20 joules per terahash (J/TH), with its operations now representing more than 1% of the global Bitcoin hashrate.
HIVE said it remains on pace to reach 18 EH/s this summer and 25 EH/s by year-end, highlighting its aggressive expansion strategy as part of a broader industry shift toward next-gen ASIC deployment in regions rich in renewable energy.
“Our ability to scale quickly is a reflection of our vertical integration and our hybrid approach,” said co-founder Frank Holmes, referencing HIVE’s Buzz HPC division, which blends AI cloud infrastructure with traditional bitcoin mining.
CEO Aydin Kilic added that ongoing fleet upgrades should push daily BTC production to over 12 coins by Q4, potentially reducing mining costs to below $50,000 per bitcoin.
HIVE operates across Canada, Sweden, and Paraguay, leveraging 100% hydroelectric power. The company made history in 2017 as the first publicly traded crypto miner on Canada’s TSX Venture Exchange.
Shares of HIVE rallied 13% in Friday trading, boosted by rising bitcoin prices, which crossed $105,000 amid a broader market surge in the digital asset space.
