news.bitcoin.com
$HIVE Digital Technologies Ltd. announced it has crossed the 16 exahash per second (EH/s) mark in global Bitcoin hashpower, keeping momentum toward its ambitious 25 EH/s target by U.S. Thanksgiving.
Bitcoin Miner $HIVE Targets 25 EH/s, Stock Climbs 10% in 5 Days
Since May, $HIVE explained that this ramp-up has more than doubled the company’s daily bitcoin ($BTC) output, which now tops 8 $BTC. The boost comes from the swift rollout of next-generation Bitmain S21+ Hydro miners at its Yguazú facility in Paraguay, according to the company.
More than 5 EH/s of capacity is already humming there in Phase 2, with shipments of fresh rigs landing weekly. $HIVE said Phase 3 will kick off at its Valenzuela site in September. The final leg of the company’s fully funded expansion plan is expected to lift daily production to nearly 12 $BTC, based on today’s network difficulty.
The company also expects its global fleet efficiency to sharpen to about 18.4 joules per terahash (J/TH). With bitcoin trading around $113,000 per coin and network difficulty set at 129T, $HIVE estimates its mining margin after electricity expenses hovers close to 60%.
Launched in 2017, $HIVE Digital Technologies builds and runs sustainable blockchain and AI data centers fully powered by renewable hydroelectric energy, spanning Canada, Sweden, and Paraguay. Year-to-date, the stock is down 8%, but it has jumped more than 10% over the past five trading days.
$HIVE carries a market capitalization of $557 million with 214,305,000 shares outstanding. Treasury data, for $BTC miners only, shows the company holds roughly 610 $BTC, valued at over $68 million.