HIVE Digital Technologies is solidifying its stance as an industry leader in the cryptocurrency mining sector. The company has recently inked a Letter of Intent (LOI) to acquire a Bitcoin mining site in Paraguay purchased from Bitfarms for a whopping $85 million. This strategic purchase of the 200MW site will significantly augment the mining capacity of HIVE by 400%. Furthermore, the Bitcoin miner aims to achieve a hash rate of 25EH/s by September.
In late 2025, HIVE's Bitcoin mining capacity is slated to quadruple following this acquisition. The company is bullish about sustainable growth, forecasting a 150% increase by the end of 2025 due to its stellar operational surge of 47% YoY in 2024. HIVE has achieved significant milestones in its mining and relocation plans and is poised to double its hash rate by the next year.
Shifting focus, HIVE has relocated its headquarters to Texas, citing a more supportive climate under the Trump administration. Moreover, it's making a bold move into AI data centers apart from crypto mining. The company has also deployed a $30 million Nvidia GPU in Quebec in anticipation of an AI boom.
Notably, HIVE is aspiring to capture 2% of the global Bitcoin mining market using renewable energy, making them a clear environmentally friendly option. It's also recently ordered 6,500 bitcoin miners from Canaan and is constructing facilities in Paraguay, clearly highlighting its ambitious expansion plans. Despite the volatility of the crypto market, HIVE continued to thrive and expand, reflecting its robust strategies and strong bullish sentiment.
HIVE Coin News Analytics from Thu, 07 Dec 2023 08:00:00 GMT to Wed, 29 Jan 2025 01:30:01 GMT -
Rating 7
- Innovation 6
- Information 8
- Rumor 4
