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Bitcoin miner Hive plans to grow 150% in 2025
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THE Bitcoin mining company HIVE Digital Technologies has announced ambitious plans for 2025, seeking to triple its mining capacity from 6 EH/s to 15 EH/swith a new agreement to purchase 100 MW of energy from a hydroelectric plant in Paraguay. The statement, released on January 2, 2025, boosted the company’s shares on European stock exchanges and placed HIVE in the spotlight of the mining market.
The company, which reached the mark of 6 EH/s of operational hashrate, growth of 47% compared to the previous year, when it operated at 4.08 EH/s, announced that it intends to triple its Bitcoin mining capacity by the end of 2025. According to the announcement, the company’s forecasts indicate that it could reach 15 EH/s.
EH/s, or exahash per second, is a unit of measurement that represents the processing capacity of a cryptocurrency minerindicating how many hash operations can be performed in one second. An exahash equivalent to 10^18 hashes, or 1 quintillion hashes per second. A higher hashrate increases the mining company’s chances of solving complex mathematical problems more quickly, validating transactions and mining new blocks more quickly.
The company that in the last year updated its mining fleet with state-of-the-art machines acquired from Canaan Inc. and negotiation of highly competitive energy prices in Swedenwith rates below 2 cents per kilowatt-hour, has a new trick up its sleeve to further increase its mining capacity.
Acquisitions and expansion strategies
In July 2024, the company announced the acquisition of the company W3X SA which comprised a 100 MW Power Purchase Agreement. The energy will be supplied by the Itaipu hydroelectric plant, which Brazil shares with Paraguay, will allow the company to add another 12.5 EH/s to its current production.
HIVE Executive Chairman Frank Holmes said the company is setting a new standard for efficiency and innovation in Bitcoin mining. He highlighted that the Optimizing the existing fleet and reducing production costs helped HIVE succeed in the second Bitcoin halvingpaving the way for an even more promising future.
Bitcoin miner Hive plans to grow 150% in 2025
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Bitcoin miner Hive plans to grow 150% in 2025
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Bitcoin miner Hive plans to grow 150% in 2025
