Hive Digital Applied sciences, the Bitcoin miner who listed publicly at Wall Road (Nasdaq: Hive), introduced its January manufacturing outcomes together with a major enlargement to Paraguay.
Regardless of the final slowdown within the business and a lower within the manufacturing reported by different miners, Hive managed to keep up their ranges on the finish of 2024.
The blockchain infrastructure supplier extracted 102 Bitcoin in January whereas sustaining a mean hashrada of 5.7 exhash per second (EH/s). The corporate’s Bitcoin holdings reached 2,657 BTC, valued at roughly $ 271 million on the finish of the month, reflecting a rise of 34% yr after yr.
HIVE’s operations maintained robust effectivity metrics, attaining a mean every day manufacturing of three.3 bitcoin, equal to 18 BTC by Exahash. The corporate’s mining fleet operated to 22 joules by Terahash, with most efficiency reaching 6 eh/s for mining just for Bitcoin and 6.4 eh/s for hashrate equal to Bitcoin.
Aydin Kilic, president and CEO of Hive
“We’re pointing to mixed fleet effectivity of 16.5 J/TH, positioning Hive among the many best Bitcoin miners within the worldwide vitality,” stated Aydin Kilic, president and CEO of Hive. “With the constant classifications of the business business for the effectivity of exercise time, we stay dedicated to operational excellence.”
On the finish of 2024, the corporate introduced its resolution to switch its headquarters of Vancouver, Canada, to San Antonio, Texas, indicating a strategic change in the direction of the US market.
Miners face challenges in 2025
In comparison with December 2024, Hive extracted solely a much less Bitcoin, which is a stable lead to relation to its opponents. This week, Monetary magnates They reported that the primary bitcoin miners within the USA. UU. They skilled a fall in manufacturing in January, as local weather -related interruptions and an impacted hashrate elevator.
For instance, Digital Holdings Marathon (Nasdaq: Mara), one of many largest miners within the business, noticed a 12% lower in month-to-month manufacturing, undermining 750 bitcoin in January in comparison with 865 in December.
In the meantime, Hut 8 (Nasdaq: HUT) centered on infrastructure updates throughout the month, however its Bitcoin manufacturing fell to 65 BTC of 89 BTC of the earlier month.
January 2025 Bitcoin manufacturing replace:
🟠 102 bitcoin extracted in January
🟠 2,657 BTC in an Hodl portfolioFull particulars: https://t.co/86ezdvik2l pic.twitter.com/9tpv9jvlhk
– HIVE Digital Applied sciences (@hivedigitaltech) February 6, 2025
Paraguay enlargement
Hive additionally offered plans to amass the Bitcoin mining set up of 200 megawatts of Bitfarms in Paraguay. The acquisition is anticipated to catapulte the International Hive Mining Hashrate of Hive at 25 EH/s by September 2025, which represents a 317% improve in present ranges.
Frank Holmes, government president of Hive
“This acquisition makes us one of many largest Bitcoin mining operators in Latin America,” stated Frank Holmes, government president of Hive. “We’re deepening our relationship with the president of Paraguay, Santiago Peña, and the important thing political leaders to assist our rising presence there, which is able to deliver mutual financial advantages for the shareholders of the hive and the local people.”
The corporate estimates the whole web price to finish the BIT pharmacy website at $ 400,000 per Megavatio. On the finish, it’s projected that the whole operative capability of HIVE reaches roughly 430 MW within the third quarter of 2025.
The corporate additionally strengthened its management workforce by appointing Lieutenant Common (Ret.) John R. Evans Jr. to his world technique advisory committee.
