Canadian mining company HIVE Digital Technologies has achieved an operating hashrate of 6.0 EH/s, up 47% year-on-year.
Bitcoin (BTC) miner HIVE Digital Technologies has reached a major milestone, achieving an operational hashrate of 6.0 exahashes per second, up 47% from 4.08 EH/s at the end of 2023. The Vancouver-based company explained in a Jan. 2 press release that the growth was due to the upgrade of its Bitcoin mining fleet with Canaan Inc.’s latest Avalon machines.
In addition to fleet modernization, HIVE has also secured competitive energy prices in Sweden, with electricity costs under two cents per kilowatt hour. This helps keep operating costs manageable and improves profitability. The company’s secure energy position in Sweden supports its focus on cost-efficient operations.
Looking to the future, HIVE has big plans. The company still aims for global computing power of 15 EH/s, but this time the company is pushing back its timeline for achieving this goal: from summer to the end of 2025. This will be supported by a 100 MW hydropower expansion in Paraguay It is expected that the company’s fleet efficiency increases to 17 joules per terahash.
HIVE CEO Frank Holmes noted that HIVE is now “setting a new standard for efficiency and innovation in Bitcoin mining” after successfully managing the company’s second Bitcoin halving.
“By optimizing our existing fleet and securing attractive pricing for our operations in Sweden, we are not only reducing Bitcoin production costs, but also increasing return on investment and paving the way for transformative…
