HIVE Digital Ramps Up Bitcoin Mining With 58% Hashrate Jump In May: Retail Finds No Reason To Cheer

Data center builder and operator HIVE Digital Technologies (HIVE) has reached a major breakthrough in its global Bitcoin mining operations, with a substantial performance increase in May 2025. 

The company reported that it now operates with a mining capacity surpassing 10 Exahash per second (EH/s), an increase from 6 EH/s at the end of the prior quarter.

This growth, which includes a 58% surge in peak hashrate from April to May, was primarily driven by the activation of HIVE's new 100-megawatt hydro-powered facility in Paraguay. 

The company said that the plant played a critical role in its push for energy-efficient and sustainable Bitcoin mining.

HIVE utilizes 100% hydroelectric power in its data centers, which supports both crypto mining and artificial intelligence workloads. 

The firm is aiming to reach a hashrate of 11.5 EH/s by the end of June, keeping it on pace for its ambitious 25 EH/s target by the fourth quarter of 2025.

In May, the company mined 139 Bitcoin, averaging about 4.5 BTC per day. HIVE maintained an average network hashrate of 8.5 EH/s throughout the month and peaked at 10.4 EH/s. 

Their mining fleet also continued to operate efficiently, maintaining a steady output of roughly 20 joules per terahash (J/TH), while production per EH/s reached 16.4 BTC. 

“Crossing 10 EH/s has already lifted our daily production to over 5 BTC.  With our fleet targeting 18 EH/s this summer, we're on track to exceed 8 BTC per day, said President and CEO, Aydin Kilic.  

“With 25 EH/s by Q4, we expect to produce over 12 BTC per day and lower our production cost to under $50,000 per Bitcoin, with Bitcoin difficulty at 127T and a target fleet efficiency of 17.5 J/TH.”

The company now accounts for over 1% of the global Bitcoin network's total hashrate share.

On Stocktwits, retail sentiment around HIVE remained in 'bearish' territory.

HIVE stock has lost over 36% year-to-date and over 38% in the last 12 months.

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