HIVE Digital Technologies reported a February Bitcoin production of 89 BTC, raising total holdings to 2,620 BTC valued at $220 million. The company continues to expand in Paraguay, aiming for a hashrate of 25 EH/s by September 2025, and has made progress in high-performance computing with a target revenue of $20 million by Q2 2025.
HIVE Digital Technologies has announced its Bitcoin production for February, reporting the mining of 89 BTC, which increases its total holdings to 2,620 BTC, valued at approximately $220 million as of February 28. The company’s mining capacity remained steady at 5.6 exahash per second (EH/s), with a peak BTC-only hashrate of 6.2 EH/s, resulting in an average daily production of 3.2 BTC.
To support its growth strategy, HIVE sold a portion of its BTC holdings to invest in capital assets, specifically Bitfarms’ hydro-powered Bitcoin mining facilities located in Paraguay. Frank Holmes, Executive Chairman of HIVE, remarked on this move, stating, “As we continue to expand and strengthen our executive team, we are aligning top-tier leadership with our strategic focus on two of the most transformative trends of our time—Bitcoin and AI.”
In line with the company’s expansion, HIVE CEO Aydin Kilic confirmed plans to increase its hashrate to 25 EH/s by September 2025. He emphasized the company’s ambition, saying, “We are focused on executing a transformative year that positions HIVE as one of the largest and most efficient Bitcoin miners in the world.” HIVE anticipates completing construction on its 100 MW Yguazú and Valenzuela sites in the second quarter of 2025, aiming for performance metrics of 18 EH/s and 18 J/TH by June 30.
HIVE has also made strides in its high-performance computing segment. Kilic highlighted the company’s recent achievement of $13 million in annualized revenue from its GPU fleet, stating the target revenue of $20 million by the second quarter is within reach as new servers come online for AI processing. Luke Rossy, COO, reported positive construction progress at the Bitfarms Yguazú site and expressed excitement about the strategic acquisition slated for early 2025, stating, “We were extremely pleased with the progress we witnessed there.”
The 100 MW Valenzuela facility is also advancing towards its energization date by June 2025, further solidifying HIVE’s commitment to expansion and operational excellence in the Bitcoin mining and high-performance computing industries.
In conclusion, HIVE Digital Technologies has demonstrated significant progress in its Bitcoin production and strategic expansion initiatives. The company aims to enhance its mining capacity to 25 EH/s by 2025 while also expanding its high-performance computing capabilities. Through strategic investments and professional advancements, HIVE is positioning itself to become a leading player in the Bitcoin mining sector while advancing in AI technologies.
Original Source: www.proactiveinvestors.com
