HIVE Digital Technologies has taken a significant step forward in its Bitcoin mining operations by acquiring a 200 MW facility in Yguazú, Paraguay, from Bitfarms. This acquisition is a cornerstone of HIVE's strategy to escalate its global hashrate from 6 EH/s to an ambitious 25 EH/s by September 2025, marking a potential 317% increase. The move not only expands HIVE's footprint in Paraguay, where it already operates a 100 MW facility, but also leverages the country's favorable conditions for Bitcoin mining, including access to renewable hydroelectric energy and a supportive regulatory environment for cryptocurrencies.
The company's performance in 2024 underscored its growth trajectory, with 1,772 Bitcoin mined and its holdings swelling to 2,805, a 65% increase from the previous year. With the cryptocurrency market showing bullish trends, HIVE is poised to quadruple its hash rate capacity in 2025. The United States, now home to HIVE's headquarters in San Antonio, Texas, remains at the forefront of Bitcoin mining, accounting for over 40% of the global hashrate. HIVE's expansion is designed to capture approximately 3% of the global Bitcoin network, reinforcing its position in the industry.
Operational efficiency is another pillar of HIVE's strategy, with the company targeting an impressive 16.5 joules per terahash (J/TH) in miner fleet efficiency. This focus on efficiency, combined with a lean team structure, could enable HIVE to generate $20 million in revenue per employee annually, potentially outperforming tech giants such as Apple and Nvidia in revenue-per-employee metrics. By the third quarter of 2025, HIVE aims to achieve a 430 MW capacity and reach an annual revenue target of $500 million. Through technological innovation, the use of sustainable energy, and aggressive growth planning, HIVE Digital Technologies is carving out a significant niche in the global Bitcoin mining sector.
