HIVE Mining Power Tops 10 EH/s in May, Plans to Double Hashrate by December

HIVE Digital Hits 10 EH/s in May, Eyes 25 EH/s by Year-End Amid Paraguay Expansion

HIVE Digital Technologies reported a significant increase in mining capacity for May, with its global hashrate averaging 8.5 EH/s and peaking at 10.4 EH/s — a 58% rise from April. The boost follows the activation of HIVE’s new 100 MW hydro-powered mining facility in Paraguay, underscoring the company’s strategic push into low-cost, renewable energy regions.

The firm mined 139 BTC during the month at an average of 4.5 BTC per day, maintaining fleet efficiency at 20 J/TH. With operations now representing over 1% of global Bitcoin hashrate, HIVE says it’s on track to reach 18 EH/s by summer and 25 EH/s by year-end.

CEO Aydin Kilic emphasized that continued fleet upgrades and vertical integration could bring production to 12+ BTC/day by Q4 while lowering costs below $50K per BTC. The company’s Buzz division also continues to build out high-performance computing for AI workloads alongside mining.

HIVE shares climbed 13% on Friday, riding a broader market rally as Bitcoin traded above $105,000.

  • Related Posts

    Polymarket faces a $520K exploit concern on Polygon flagged by ZachXBT, but developers say assets are safe.

    Blockchain investigator ZachXBT has flagged a suspected security incident involving Polymarket, the world’s largest decentralized prediction market, after on-chain data indicated that more than $520,000 was drained from smart contracts…

    Continue reading
    Near Protocol’s move to self-automate growth is powering a rapid spike in its token value.

    NEAR Protocol is set to deploy dynamic resharding in June, an upgrade that will allow the blockchain to automatically scale by adding new shards as demand increases, removing the need…

    Continue reading