HIVE Digital Technologies Announces January 2025 Production Results and Strategic Milestones
HIVE Digital Technologies has released its January 2025 production results, mining 102 BTC and maintaining a HODL portfolio of 2,657 BTC valued at $271 million. The company's Bitcoin holdings increased 34% year-over-year but decreased month-over-month due to strategic sales for capital investments.
The company maintained an average mining capacity of 5.7 Exahash per Second with fleet efficiency at 22 J/TH, achieving a peak BTC-equivalent hashrate of 6.4 EH/s. A significant development includes the acquisition of Bitfarms' 200 MW hydro-powered Bitcoin mining facility in Paraguay, expected to increase HIVE's hashrate to 25 EH/s by September 2025, representing a 317% growth.
The total net cost to complete the Bitfarms site is estimated at $400,000 per MW, with plans to increase total operational capacity to 430 MW by Q3 2025. HIVE also appointed Lt. Gen. John R. Evans Jr. to its Global Strategy Advisory Committee.
HIVE Digital Technologies ha pubblicato i risultati di produzione di gennaio 2025, estraendo 102 BTC e mantenendo un portafoglio HODL di 2.657 BTC del valore di 271 milioni di dollari. Le partecipazioni in Bitcoin dell'azienda sono aumentate del 34% rispetto all'anno precedente, ma sono diminuite rispetto al mese scorso a causa di vendite strategiche per investimenti di capitale.
L'azienda ha mantenuto una capacità media di estrazione di 5,7 Exahash al secondo con un'efficienza della flotta di 22 J/TH, raggiungendo un hashrate equivalente a BTC di punta di 6,4 EH/s. Sviluppo significativo include l'acquisizione della struttura di mining Bitcoin idroelettrica da 200 MW di Bitfarms in Paraguay, previsto per aumentare l'hashrate di HIVE a 25 EH/s entro settembre 2025, rappresentando una crescita del 317%.
Il costo netto totale per completare il sito di Bitfarms è stimato in $400.000 per MW, con progetti di aumentare la capacità operativa totale a 430 MW entro il terzo trimestre del 2025. HIVE ha anche nominato il tenente generale John R. Evans Jr. nel suo Comitato Consultivo per la Strategia Globale.
HIVE Digital Technologies ha publicado sus resultados de producción de enero de 2025, extrayendo 102 BTC y manteniendo un portafolio HODL de 2,657 BTC valorado en 271 millones de dólares. Las tenencias de Bitcoin de la compañía aumentaron un 34% interanual, pero disminuyeron mes a mes debido a ventas estratégicas para inversiones de capital.
La compañía mantuvo una capacidad media de minería de 5.7 Exahash por segundo con una eficiencia de flota de 22 J/TH, logrando un hashrate equivalente en BTC de 6.4 EH/s. Un desarrollo significativo incluye la adquisición de la instalación de minería de Bitcoin hidroeléctrica de 200 MW de Bitfarms en Paraguay, que se espera que aumente el hashrate de HIVE a 25 EH/s para septiembre de 2025, representando un crecimiento del 317%.
El costo neto total para completar el sitio de Bitfarms se estima en $400,000 por MW, con planes de aumentar la capacidad operativa total a 430 MW para el tercer trimestre de 2025. HIVE también designó al teniente general John R. Evans Jr. en su Comité Asesor de Estrategia Global.
하이브 디지털 테크놀로지스는 2025년 1월 생산 결과를 발표했으며, 102 BTC를 채굴하고 2,657 BTC의 HODL 포트폴리오를 2억 7100만 달러에 유지하고 있습니다. 회사의 비트코인 보유량은 전년 대비 34% 증가했지만, 자본 투자를 위한 전략적 판매로 인해 월별로는 감소했습니다.
회사는 평균 5.7 엑사해시 초당의 채굴 용량을 유지하며, 플릿 효율성은 22 J/TH로, 최대 BTC-동등 해시레이트는 6.4 EH/s를 달성했습니다. 주요 개발에는 파라과이에 있는 비트팜의 200 MW 수력 발전 비트코인 채굴 시설 인수가 포함되며, 이는 2025년 9월까지 하이브의 해시레이트를 25 EH/s로 증가시키고 317%의 성장을 이룰 것으로 예상됩니다.
비트팜 사이트를 완공하는 데 드는 총 순 비용은 MW당 40만 달러로 추정되며, 2025년 3분기까지 총 운영 용량을 430 MW로 늘릴 계획입니다. 하이브는 또한 존 R. 에반스 준장을 글로벌 전략 자문위원회에 임명했습니다.
HIVE Digital Technologies a publié ses résultats de production de janvier 2025, minant 102 BTC et maintenant un portefeuille HODL de 2,657 BTC d'une valeur de 271 millions de dollars. Les actifs en Bitcoin de l'entreprise ont augmenté de 34 % d'une année sur l'autre, mais ont diminué d'un mois à l'autre en raison de ventes stratégiques pour des investissements en capital.
L'entreprise a maintenu une capacité d'extraction moyenne de 5,7 Exahash par seconde avec une efficacité de flotte de 22 J/TH, atteignant un hashrate équivalent en BTC de 6,4 EH/s. Un développement significatif inclut l'acquisition de l'installation de minage de Bitcoin hydroélectrique de 200 MW de Bitfarms au Paraguay, prévue pour augmenter le hashrate de HIVE à 25 EH/s d'ici septembre 2025, représentant une croissance de 317 %.
Le coût net total pour achever le site de Bitfarms est estimé à 400 000 $ par MW, avec des plans pour augmenter la capacité opérationnelle totale à 430 MW d'ici le troisième trimestre de 2025. HIVE a également nommé le lieutenant-général John R. Evans Jr. à son comité consultatif sur la stratégie mondiale.
HIVE Digital Technologies hat seine Produktionszahlen für Januar 2025 veröffentlicht und 102 BTC abgebaut, während es ein HODL-Portfolio von 2.657 BTC im Wert von 271 Millionen Dollar beibehielt. Die Bitcoin-Bestände des Unternehmens stiegen im Jahresvergleich um 34%, jedoch sank die Zahl im Monatsvergleich aufgrund strategischer Verkäufe für Investitionen.
Das Unternehmen hielt eine durchschnittliche Mining-Kapazität von 5,7 Exahash pro Sekunde mit einer Flotteneffizienz von 22 J/TH und erzielte eine Spitzen-BTC-äquivalente Hashrate von 6,4 EH/s. Eine bedeutende Entwicklung ist die Akquisition der 200 MW hydroelektrischen Bitcoin-Mining-Anlage von Bitfarms in Paraguay, die voraussichtlich HIVE's Hashrate bis September 2025 auf 25 EH/s steigern wird, was einem Wachstum von 317% entspricht.
Die geschätzten Gesamtkosten zur Fertigstellung der Bitfarms-Anlage liegen bei 400.000 $ pro MW, mit dem Ziel, die Gesamtnutzkapazität bis zum dritten Quartal 2025 auf 430 MW zu erhöhen. HIVE hat außerdem Lt. Gen. John R. Evans Jr. in seinen Global Strategy Advisory Committee berufen.
- Significant Bitcoin holdings of 2,657 BTC valued at $271 million
- 34% year-over-year increase in Bitcoin holdings
- Strategic acquisition of 200 MW hydro-powered facility in Paraguay
- Projected 317% hashrate growth to 25 EH/s by September 2025
- Planned expansion to 430 MW total operational capacity by Q3 2025
- Month-over-month decrease in BTC holdings due to asset sales
- Current fleet efficiency at 22 J/TH requires upgrading
- Significant capital expenditure of $400,000 per MW for Paraguay facility
Insights
HIVE's January 2025 performance metrics and strategic moves signal a compelling growth trajectory. The company's 2,657 BTC HODL position, valued at
The Paraguay acquisition represents a game-changing expansion. At
Operational efficiency metrics are particularly noteworthy. The current 22 J/TH efficiency, moving toward a targeted 16.5 J/TH, would place HIVE among the most efficient miners globally. At 18 BTC per Exahash, their production efficiency exceeds industry averages, suggesting strong operational execution. The expansion to 430 MW total capacity by Q3 2025 could drive significant economies of scale, potentially reducing operating costs by
The strategic appointment of Lt. Gen. Evans indicates HIVE's forward-thinking approach to regulatory compliance and national security considerations, important factors as digital asset mining faces increasing scrutiny. The deepening relationship with Paraguay's political leadership provides valuable operational security and potential preferential treatment for future expansion.
The Paraguay hydroelectric facility acquisition is a masterful strategic move in the current energy landscape. Hydroelectric power offers important advantages: stable, predictable costs unaffected by fossil fuel market volatility and near-zero carbon emissions. The 200 MW capacity from hydropower provides a reliable baseload operation capability, eliminating the intermittency issues faced by other renewable sources.
The planned efficiency improvement from 22 J/TH to 16.5 J/TH represents a
The total 430 MW infrastructure buildout positions HIVE with one of the largest renewable-powered mining operations globally. The Paraguay facility's location in a cooler climate region also reduces cooling costs, typically
This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated October 3, 2024 to its short form base shelf prospectus dated September 11, 2024.
San Antonio, Texas--(Newsfile Corp. - February 6, 2025) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (referred to as the "Company" or "HIVE"), a global leader in sustainable data center infrastructure, has released its unaudited production results for January 2025 (all amounts in US dollars, unless otherwise indicated).
Key Highlights for January 2025:
- Bitcoin Production: Mined 102 BTC, bringing HIVE's HODL portfolio to 2,657 BTC, valued at
$271 million as of January 31, 2025, based on a BTC closing price of approximately$102,000. - HODL Update: The Company's Bitcoin holdings increased by
34% year-over-year. However, on a month-over-month basis, BTC holdings saw a decline as HIVE strategically sold a portion of its BTC to invest in capital assets, including Bitfarms' 200 megawatt ("MW") hydro-powered Bitcoin mining assets in Paraguay. - Mining Capacity: Maintained an average mining capacity of 5.7 Exahash per Second ("EH/s") with fleet efficiency at 22 Joules per Terahash ("J/TH"). HIVE achieved a peak BTC-only hashrate of 6 EH/s and a peak BTC-equivalent hashrate of 6.4 EH/s.
- Operational Efficiency: Achieved an average daily production rate of 3.3 BTC, equivalent to 18 BTC per Exahash.
Strategic Developments:
- Paraguay Expansion: In January, HIVE announced the transformative acquisition of a 200 MW hydro-powered Bitcoin mining facility in Paraguay from Bitfarms Ltd. This acquisition is expected to accelerate the Company's growth and increase its global Bitcoin mining hashrate to an anticipated 25 EH/s by September 2025, a
317% increase from its current 6 EH/s.
- Operational Investment: The Company estimates the total net cost to complete the Bitfarms site at
$400,000 per MW. This acquisition, combined with existing operations in Canada and Sweden, is expected to increase HIVE's total operational capacity to approximately 430 MW by Q3 2025.
- Efficiency Focus: To maintain disciplined spending and maximize operational performance, HIVE is investing cash flow into upgrading its existing fleet with more energy-efficient mining machines, supporting long-term sustainability and lower Bitcoin production costs.
- Leadership Expansion: HIVE announced the appointment of Lieutenant General (Ret.) John R. Evans Jr. to its Global Strategy Advisory Committee. This marks a significant step in HIVE's mission to responsibly expand its global footprint as data centers increasingly become a national security priority.
Executive Commentary:
Frank Holmes, Executive Chairman of HIVE stated: "Our latest acquisition lays the foundation for transformational growth in 2025, expanding our operations
Aydin Kilic, President and CEO of HIVE, added: "HIVE continues to execute strategic mergers and acquisitions in the industry. This expansion in Paraguay, funded by our strong balance sheet, aligns with our focus on maximizing cash return on invested capital. Upon full deployment, we are targeting a blended fleet efficiency of 16.5 J/TH, positioning HIVE among the most energy-efficient Bitcoin miners globally. With consistent top industry rankings for uptime efficiency, we remain committed to operational excellence."
About HIVE Digital Technologies Ltd.
HIVE Digital Technologies Ltd. is a pioneering technology company advancing sustainable blockchain and AI infrastructure powered by green energy. As the first cryptocurrency miner to go public on the TSX Venture Exchange in 2017, HIVE has grown into a global leader in digital asset mining and AI computing. With operations in Canada, Sweden, and soon Paraguay, HIVE continues to innovate while reducing its environmental footprint.
For more information, visit hivedigitaltech.com, or connect with us on:
X: https://x.com/HIVEDigitalTech
YouTube: https://www.youtube.com/@HIVEDigitalTech
Instagram: https://www.instagram.com/hivedigitaltechnologies/
LinkedIn: https://linkedin.com/company/hiveblockchain
On Behalf of HIVE Digital Technologies Ltd.
"Frank Holmes"
Executive Chairman
For further information, please contact:
Nathan Fast, Director of Marketing and Branding
Frank Holmes, Executive Chairman
Aydin Kilic, President & CEO
Tel: (604) 664-1078
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Information
Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian and United States securities legislation and regulations that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes but is not limited to: the acquisition of the new site in Paraguay and its potential, the timing of it becoming operational; business goals and objectives of the Company; the results of operations for January 2025; the acquisition, deployment and optimization of the mining fleet and equipment; the continued viability of its existing Bitcoin mining operations; the receipt of government consents; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
Factors that could cause actual results to differ materially from those described in such forward looking information include, but are not limited to: the inability to enter into a binding agreement and complete the acquisition of the Paraguay site on the terms as announced or at all; the inability to complete the construction of the Paraguay acquisition on an economic and timely basis and achieve the desired operational performance; the ongoing support and cooperation of local authorities and the Government of Paraguay; the volatility of the digital currency market; the Company's ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company's operations; the regulatory environment for cryptocurrency in Canada, the United States and the countries where our mining facilities are located; economic dependence on regulated terms of service and electricity rates; the speculative and competitive nature of the technology sector; dependency on continued growth in blockchain and cryptocurrency usage; lawsuits and other legal proceedings and challenges; government regulations; the global economic climate; dilution; future capital needs and uncertainty of additional financing, including the Company's ability to utilize the Company's ATM Program and the prices at which the Company may sell Common Shares in the ATM Program, as well as capital market conditions in general; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the need for continued technology change; the ability to maintain reliable and economical sources of power to run its cryptocurrency mining assets; the impact of energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; share dilution resulting from the ATM Program and from other equity issuances; the construction and operation of facilities may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of electricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power for the Company to operate cryptocurrency mining assets; the risks of an increase in the Company's electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and the adverse impact on the Company's profitability; the ability to complete current and future financings, any regulations or laws that will prevent the Company from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; an inability to predict and counteract the effects of pandemics on the business of the Company, including but not limited to the effects of pandemics on the price of digital currencies, capital market conditions, restriction on labour and international travel and supply chains; and, the adoption or expansion of any regulation or law that will prevent the Company from operating its business, or make it more costly to do so; and other related risks as more fully set out in the Company's disclosure documents under the Company's filings at www.sec.gov/EDGAR and www.sedarplus.ca.
The forward-looking information in this news release reflects the Company's current expectations, assumptions, and/or beliefs based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's objectives, goals or future plans, the timing thereof and related matters. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance, and accordingly, undue reliance should not be put on such information due to its inherent uncertainty. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, other than as required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/239876
FAQ
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