HIVE Digital Technologies’ global Bitcoin mining power has surpassed 20 exahash per second (EH/s), positioning the company among the world’s largest BTC mining firms.
The milestone, achieved after the successful deployment of new ASIC machines at its Valenzuela facility in Paraguay, marks a 233% increase in hashrate this year and places HIVE in control of roughly 2% of the global Bitcoin network.
Powering growth with clean energy
The Phase 3 expansion in Paraguay is powered by hydroelectric energy from the massive Itaipu Dam, underlining HIVE’s push toward greener mining.
By tapping renewable energy sources, the company aims not only to improve its mining margins but also to align itself with growing calls for sustainable Bitcoin operations.
Currently, HIVE is mining around nine Bitcoin per day with an energy efficiency of 18 joules per terahash.
Once the expansion is fully operational, the company projects that daily production could climb to 12 BTC, with efficiency expected to improve slightly to 17.5 J/TH.
HIVE’s mining margin after electricity costs currently stands at about 55%, reflecting the advantages of low-cost hydroelectric power.
With more than 40% of the ASICs already installed in Paraguay and the rest scheduled to arrive within weeks, the company is on track to reach its goal of 25 EH/s by US Thanksgiving.
Strong financial results
Financially, HIVE has posted robust results in recent quarters. For the period ending June 2025, revenue came in at $45.61 million, a 41% year-over-year increase.
The net income surged 291% to $35.02 million, driven by sharply lower operating expenses and improved margins.
The company reported a net profit margin of nearly 77%, along with EBITDA of $26.84 million, representing more than a 270% improvement compared to the same period last year.
A focus on community and future growth
Beyond financials and mining power, HIVE has also emphasized its role as a responsible operator.
In Paraguay, the company is investing in community education programs, supporting schools and local initiatives as part of its broader mission to generate a positive social impact.
This dual focus on growth and sustainability aims to set HIVE apart in an industry often criticized for its environmental footprint.
Looking ahead, the company’s strategy revolves around expanding hashrate while maintaining efficiency gains and staying committed to renewable energy.
HIVE also continues to build on its diversification into AI-driven cloud computing, a segment it believes can complement its mining business.
HIVE stock under pressure
Despite this operational breakthrough and financial power, HIVE’s stock price slipped 2.08% in the latest trading session, closing at C$5.17 on the Canadian Venture Exchange (CVE).
During the day, the stock touched a low of C$5.10, with trading volume soaring past 2.26 million shares, well above the average.
The pullback came even as the company’s market capitalization stood at about C$1.2 billion and its valuation reflected a relatively high price-to-earnings ratio of 29.34.
Investor sentiment has also been impacted by insider activity. Senior officer Luke Rossy sold more than 133,000 shares at an average of C$3.24 earlier this year, raising questions about confidence within the leadership.
Insiders as a group currently hold just 0.40% of the company’s outstanding stock, a relatively small stake for a firm of this size.
Analysts have pointed to cash flow constraints and valuation concerns as factors weighing on the stock’s sentiment. The latest rating on HIVE shares is a Hold, with a price target of C$5.50, suggesting limited upside in the near term.