Bitcoin mining company HIVE Digital records 18% jump in monthly output
With a global footprint in Canada, Sweden, and Paraguay, HIVE Digital Technologies (Nasdaq: HIVE) is one of the world's most prominent Bitcoin mining firms.
On July 7, the miner announced that it has recorded a rise of 18% in monthly Bitcoin production in June.
Thanks to the firm successfully running the Phase 1 infrastructure at the new 100 megawatt (MW) facility in Yguazú, Paraguay, HIVE mined 164 Bitcoin in June.
In contrast, the firm mined 139 Bitcoin in May.
Crypto mining is the process of validating and adding transactions to a blockchain by solving cryptographic problems called hashes.
Hashrate is a metric that measures how quickly a crypto miner performs cryptographic calculations to solve blocks in a blockchain. It is calculated in terms of hashes per second, i.e., the number of hash operations executed per second.Since the end of March, the mining firm said it has almost doubled its hashrate as it reached 11.4 exahash per second (EH/s) in June.
HIVE claimed to mine 15 Bitcoin per EH/s in June. It mined 5.5 Bitcoin on a daily basis during the month, it said.
HIVE also announced the official launch of Phase 2 (second 100 MW) at its Paraguay facility. The unit is already running at 0.4 EH/s, more than 5% of the total potential Phase 2 capacity.
Once fully energized, Phase 2 is expected to generate approximately 6.5 EH/s from Bitmain S21+ Hydro miners. It is estimated to expand HIVE's global fleet efficiency to nearly 18.5 J/TH.
HIVE's management expects the firm to scale up to 25 EH/s by American Thanksgiving, i.e., 27 Nov., with the launch of Phase 2.
HIVE co-founder and executive chairman Frank Holmes said, 'With two 100 MW phases in Paraguay and our rapid expansion, we are more than halfway to our 2025 production goal of 12 BTC per day."The Paraguay facility is a key component in HIVE's goal of hitting the target of mining 12 Bitcoin a day toward the end of 2025 as the miner scales revenue and cash flow margins.
HIVE President & CEO Aydin Kilic said, 'Paraguay has become a centerpiece of our green Bitcoin mining strategy. With hydro infrastructure, fiber, and cooling systems now fully operational, we're deploying new capacity at record speed. We expect a major lift in July as Phase 2 scales, propelling us toward our 25 EH/s goal.'
In addition to Bitcoin, HIVE Digital is also focused on expanding its AI prowess.
In June, BUZZ High Performance Computing Inc. (BUZZ HPC), the company's HPC subsidiary, signed a purchase agreement for a 7.2 MW Tier 3 data center facility based in Toronto, Canada.It will support up to 5,000 next-generation graphics processing units (GPUs) for sovereign Canadian AI compute.
During April to June, HIVE Digital issued 38,109,822 common shares that generated gross proceeds of $70 million.
The firm said it is using net proceeds to fuel growth in ASIC and GPU infrastructure, data center expansions, and working capital needs.
The HIVE stock jumped 3.96% to trade at $2.36 at press time.
Bitcoin mining company HIVE Digital records 18% jump in monthly output first appeared on TheStreet on Jul 8, 2025
This story was originally reported by TheStreet on Jul 8, 2025, where it first appeared.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Dividends Declared During the Week of July 7
Energy companies are gearing up for second-quarter 2025 earnings season. Here is a compilation of dividends declared during the week of July 7 from select midstream and service and supply companies. Targa Resources Targa Resources Corp. declared a quarterly cash dividend of $1 per common share, $4 per share annualized, for the second quarter of 2025. The cash dividend will be paid Aug. 15 on all outstanding common shares to holders of record as of the close of business on July 31. Pembina Pipeline Pembina Pipeline Corp. declared quarterly dividends for a series of preferred shares—Series 1, 3, 5, 7, 9, 15, 17, 21 and 25. Series 1, 3, 5, 7, 9 and 21 preferred share dividends are payable on Sept. 2 to shareholders of record on Aug. 1. Series 15 and 17 are payable on Oct. 1 to shareholders of record on Sept. 15. Series 25 preferred share dividends are payable on Aug. 15 to shareholders of record on July 31. NW Natural Energy infrastructure company Northwest Natural Holding Co. declared a quarterly dividend of $0.49 per share on July 10. The dividend will be paid on Aug. 15 to shareholders of record on July 31. NW Natural said its annual dividend rate is $1.96 per share. Phillips 66 Phillips 66 declared a quarterly dividend on July 10 for $1.20 per share on its common stock. The dividend is payable on Sept. 2 to shareholders of record as of Aug. 19. Emera North American energy services provider Emera Inc. declared quarterly dividends on July 11 on its common shares and first preferred shares. The common share dividend will be paid out as approximately $0.73 per share. The preferred share dividends will be paid out as follows: $0.1364 per Series A first preferred share; $0.2789 per Series B first preferred share; $0.40213 per Series C first preferred share; $0.28125 per Series E first preferred share; $0.35931 per Series F first preferred share; $0.39525 per Series H first preferred share; $0.265625 per Series J first preferred share; and $0.2875 per Series L first preferred share. The dividends are payable on and after Aug. 15 to shareholders of record as of Aug. 1.
Yahoo
an hour ago
- Yahoo
Wayfair, Sabre, MongoDB, ServiceNow, and Asana Shares Are Falling, What You Need To Know
A number of stocks fell in the afternoon session after the Trump administration announced intentions to impose a 35% tariff on many goods imported from Canada. This move is far more than a typical trade dispute; it targets the United States' largest and most deeply integrated trading partner. Canada is not merely a neighbor but a critical component of North American supply chains, particularly in sectors like automotive, energy, and critical minerals. This move has sparked concerns about potential retaliatory actions and a wider impact on the North American economy, leading to a risk-off sentiment among investors. The S&P 500, Dow Jones Industrial Average, and Nasdaq all opened lower, pulling back from recent record highs and heading for their first weekly loss in three weeks. The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Among others, the following stocks were impacted: Online Retail company Wayfair (NYSE:W) fell 3.3%. Is now the time to buy Wayfair? Access our full analysis report here, it's free. Travel and Vacation Providers company Sabre (NASDAQ:SABR) fell 4.1%. Is now the time to buy Sabre? Access our full analysis report here, it's free. Data Storage company MongoDB (NASDAQ:MDB) fell 3%. Is now the time to buy MongoDB? Access our full analysis report here, it's free. Automation Software company ServiceNow (NYSE:NOW) fell 3.2%. Is now the time to buy ServiceNow? Access our full analysis report here, it's free. Project Management Software company Asana (NYSE:ASAN) fell 3.5%. Is now the time to buy Asana? Access our full analysis report here, it's free. Sabre's shares are extremely volatile and have had 35 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. Sabre is down 11.5% since the beginning of the year, and at $3.16 per share, it is trading 30.1% below its 52-week high of $4.52 from February 2025. Investors who bought $1,000 worth of Sabre's shares 5 years ago would now be looking at an investment worth $408.80. Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Petco, LiveRamp, Rapid7, Tenable, and Wix Stocks Trade Down, What You Need To Know
A number of stocks fell in the afternoon session after the Trump administration announced intentions to impose a 35% tariff on many goods imported from Canada. This move is far more than a typical trade dispute; it targets the United States' largest and most deeply integrated trading partner. Canada is not merely a neighbor but a critical component of North American supply chains, particularly in sectors like automotive, energy, and critical minerals. This move has sparked concerns about potential retaliatory actions and a wider impact on the North American economy, leading to a risk-off sentiment among investors. The S&P 500, Dow Jones Industrial Average, and Nasdaq all opened lower, pulling back from recent record highs and heading for their first weekly loss in three weeks. The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Among others, the following stocks were impacted: Specialty Retail company Petco (NASDAQ:WOOF) fell 3.1%. Is now the time to buy Petco? Access our full analysis report here, it's free. Advertising Software company LiveRamp (NYSE:RAMP) fell 4%. Is now the time to buy LiveRamp? Access our full analysis report here, it's free. Vulnerability Management company Rapid7 (NASDAQ:RPD) fell 4.1%. Is now the time to buy Rapid7? Access our full analysis report here, it's free. Vulnerability Management company Tenable (NASDAQ:TENB) fell 4.7%. Is now the time to buy Tenable? Access our full analysis report here, it's free. E-commerce Software company Wix (NASDAQ:WIX) fell 3.6%. Is now the time to buy Wix? Access our full analysis report here, it's free. Tenable's shares are not very volatile and have only had 9 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business. Tenable is down 16.4% since the beginning of the year, and at $32.57 per share, it is trading 30.9% below its 52-week high of $47.15 from July 2024. Investors who bought $1,000 worth of Tenable's shares 5 years ago would now be looking at an investment worth $1,117. Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
