HIVE’s Bitcoin Mining Boom: Who Knew Hydropower Can Be This Exciting? 🚀

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What to know:

  • HIVE Digital managed to squeeze out 10.4 EH/s in May, up from the very modest 6.6 EH/s in April. Basically, if Bitcoin was a bug, they’d be swatting it at record speeds.
  • Thanks to a shiny new 100 MW Paraguay site, sprouting like a well-watered chia pet, the company aims to keep growing faster than your neighbor’s lawn.
  • Goals? Oh, just a leisurely 25 EH/s and over 12 Bitcoin a day by late 2025. No big deal, right?

So, apparently, Bitcoin miners like HIVE Digital are now the equivalent of cryptocurrency’s version of the Energizer Bunny—never stopping, always just a little more battery-powered. They hit a peak capacity that sounds like a sci-fi weapon—10.4 exahash per second. That’s more hashes than I could ever hope to hash out in a lifetime. And all of this, because they set up shop in Paraguay where the water runs so fast it could probably fuel a small city—and apparently, Bitcoin mining farms too.

In May, they mined 139 Bitcoin, averaging about 4.5 Bitcoin a day—roughly enough to make your crypto enthusiast friend awkwardly giddy. Their fleet efficiency stayed steady at around 20 joules per terahash, which I think is nerd-speak for “we’re pretty good at this.” They’ve now taken a commanding 1% of the world’s Bitcoin power, which sounds small until you realize that they’re powering a Bitcoin revolution with water and electricity, not just coffee and bad passwords.

And let’s talk about speed: co-founder Frank Holmes hinted that they’re faster than a caffeinated squirrel, thanks to their Buzz HPC division, which awkwardly supports both AI infrastructure and Bitcoin. The CEO, Aydin Kilic, is basically the guy who sets the pace for summer: aiming for 18 EH/s, with hopes of cranking out over 12 Bitcoin daily by fall—if their math is right. Plus, they might produce each coin for less than fifty grand, which is a steal compared to what your crypto trader uncle would pay.

HIVE isn’t just busy in Paraguay—no, they also operate in Canada and Sweden, all powered by water because apparently, hydroelectricity is the new black in crypto circles. Fun fact: They were the first crypto miner to be listed on the TSX Venture Exchange back in 2017—proof that sometimes, water and technology go better together than bread and butter.

Shares of HIVE? Up 13%, probably because Bitcoin went above $105,000, making everyone think they’re all secretly billionaires. Or at least, they have enough to buy a fancy coffee now.

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2025-06-06 19:59