Latest news with #AydinKilic
Yahoo
12-07-2025
- Business
- Yahoo
HIVE stock at four-month high amid historic Bitcoin rally
HIVE stock at four-month high amid historic Bitcoin rally originally appeared on TheStreet. The HIVE Digital Technologies (Nasdaq: HIVE) stock reached $2.47 on July 11, piggybacking on the phenomenal all-time high (ATH) Bitcoin reached this week. The stock is at its four-month high, as it last reached $2.52 on Feb. 24. HIVE Digital is one of the most prominent Bitcoin mining firms in the world. Crypto mining is the process of validating and adding transactions to a blockchain by solving cryptographic problems called hashes. On July 10, the firm announced it has surpassed a $250 million annualized run rate revenue. It has also surpassed 12 exahash per second (EH/s) of global Bitcoin mining hashrate, twice its output at the beginning of 2025. Hashrate measures how fast a miner executes cryptographic functions to solve blocks in a chain. It is calculated in terms of hashes per second, i.e., the number of hash operations executed per second. "Once we hit 18 EH/s, we expect approximately $400 million in annual run rate revenue," HIVE President & CEO Aydin Kilic said. While HIVE has facilities in Canada and Sweden, the firm is making a bold bet on its expanding facility in Paraguay. On July 7, the firm announced a series of milestones it has achieved in Bitcoin production. HIVE said it mined 164 Bitcoin in June, in contrast to 139 Bitcoin in May. In fact, it mined 15 Bitcoin per EH/s and 5.5 Bitcoin on a daily basis in June. Co-founder and executive chairman Frank Holmes is counting on the Paraguay facility to reach an even higher target of 12 BTC a day by the end of 2025. HIVE stock at four-month high amid historic Bitcoin rally first appeared on TheStreet on Jul 11, 2025 This story was originally reported by TheStreet on Jul 11, 2025, where it first appeared.
Yahoo
10-06-2025
- Business
- Yahoo
HIVE's Bitcoin mining output set to double soon
HIVE's Bitcoin mining output set to double soon originally appeared on TheStreet. HIVE Digital Technologies Ltd. has announced key developments in Bitcoin mining, reporting a total peak of 10.4 exahashes per second (EH/s), achieved in May 2025. This represents a 58% increase from the peak of 6.6 EH/s in April. This month-to-month increase in HIVE's peak hashrate was driven by the activation of our new 100 MW facility powered by hydro power in Paraguay, reinforcing HIVE's incentive to invest in sustainable, high-efficiency energy mining. In May, HIVE mined 139 BTC, or approximately 4.5 BTC per day while maintaining the fleet's overall mining efficiency of roughly 20 joules/terahash (J/TH), leading Executive Chairman Frank Holmes to say they are set to reach 11.5 EH/s by the end of June, and get 25 EH/s by Q4 2025 which would result in producing over 12 BTC daily while dropping costs to under $50,000 per coin—a critical threshold given the following network difficulty increase. HIVE Executive Chairman Frank Holmes stated that the firm deploys new ASIC miners "within six hours" of their arrival, converting hardware to cash flow at "lightning speed." HIVE CEO Aydin Kilic noted that the speed at which HIVE's team deploys will put them "well ahead of schedule" for their mid-year targets. The company noted that its global operations, powered by 100% hydroelectricity and spanning nine time zones, now represent "more than 1% of the total Bitcoin network hashrate." With its dual model of Bitcoin mining and high-performance computing (HPC) through Buzz, the company is also generating record cash flow. With the BTC market strengthening, HIVE's ambitious scaling might put it in a position to remain a powerhouse in the next wave of increased dominance of Bitcoin mining. HIVE's Bitcoin mining output set to double soon first appeared on TheStreet on Jun 9, 2025 This story was originally reported by TheStreet on Jun 9, 2025, where it first appeared. 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
07-06-2025
- Business
- Yahoo
HIVE Digital Capacity Crosses 10 EH/s in May, Aims to More Than Double That by Year-End
Bitcoin miner HIVE Digital Technologies (HIVE) has surpassed 10 exahash per second (EH/s) in hashrate capacity, a 58% increase from April, driven by the launch of a 100-megawatt hydro-powered site in Paraguay. The company said in a press release on Friday that it's on track to reach 25 EH/s by the end of 2025. The firm mined 139 bitcoin in May, or an average rate of 4.5 BTC per day. Peak capacity hit 10.4 EH/s while average hashrate for the month stood at 8.5 EH/s. HIVE said its fleet efficiency remained steady at around 20 joules per terahash (J/TH), and its network share now exceeds 1% of global Bitcoin mining power. The new facility in Paraguay reflects a broader trend in the mining industry: the race to deploy next-generation ASIC miners rapidly and at scale in regions with abundant renewable power. Co-founder Frank Holmes emphasized the company's speed and flexibility, pointing to its Buzz HPC division, which supports AI cloud infrastructure alongside Bitcoin mining. CEO Aydin Kilic said the company's goal for the summer is 18 EH/s, and that fleet upgrades should allow for a daily BTC output of over 12 by the fourth quarter — potentially at a production cost below $50,000 per coin. HIVE operates facilities in Canada, Sweden and Paraguay, powered entirely by hydroelectricity. The company was the first publicly listed crypto miner on the TSX Venture Exchange in 2017. HIVE shares are higher by 13% in New York trade on Friday as the mining sector rallies alongside bitcoin's gain to above $105,000.
Yahoo
28-05-2025
- Business
- Yahoo
RETRANSMISSION: HIVE Digital Technologies Surpasses 10 EH/s of Bitcoin Hashrate as Expansion in Paraguay Accelerates
This news release constitutes a "designated news release for the purposes of the Company's amended and restated prospectus supplement dated May 14, 2025, to its short form base shelf prospectus dated September 11, 2024. San Antonio, Texas--(Newsfile Corp. - May 28, 2025) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the "Company" or "HIVE"), a global leader in sustainable digital infrastructure, is pleased to announce it has surpassed 10 Exahash per second (EH/s) of global Bitcoin mining hashrate, and in the process has added 1 EH/s each week for the last month. As of today, HIVE reports a total operating hashrate of over 10 EH/s and is ahead of schedule to reach its Phase 1 objective of 11.5 EH/s by the end of June 2025, with a global fleet efficiency of 20 Joules per Terahash. HIVE continues to execute on its strategic expansion toward its 25 EH/s target for calendar Q4 2025 and is working hard to maintain the cadence of its rapid scaling. The Company notes that this growth is fully funded. BUZZ HPC Surpasses Growth Milestone in HPC Cloud, Achieves $20M ARR Ahead of Schedule The Company is proud to announce that its high-performance computing ("HPC") subsidiary, Buzz HPC, has surpassed a key growth milestone-reaching a $20 million annualized run-rate revenue in its GPU cloud business. This achievement comes one month ahead of the Company's target of June 2025, underscoring the successful execution of HIVE's aggressive HPC expansion strategy. Buzz HPC's rapid scale-up reflects strong operational momentum, with over 5,000 cutting-edge GPUs now actively deployed. This milestone not only validates the Company's vision for HPC growth but also reinforces its position as an emerging leader in GPU cloud infrastructure. Executive Commentary Frank Holmes, Co-Founder and Executive Chairman of HIVE, commented: "Our HPC growth has outpaced expectations-from early projections to now reaching $20M in annualized revenue. With approximately 5,000 GPUs powering AI workloads, we believe our GPU cloud business is a high-value asset, potentially worth 10 to 20 times its annualized cash flows." Aydin Kilic, President & CEO of HIVE, stated: "It is a monumental accomplishment for HIVE to reach 10 EH/s, and we are now producing over 5 Bitcoin per day. I am very proud of our team for executing. What is remarkable is we have added approximately 1 EH/s of Bitcoin mining capacity on a weekly basis, exceeding our previous guidance to bring on 1 EH/s every 2 weeks. We have done so consecutively for the last month. Our Country President Gabriel Lamas has been consistently executing on his targets, embodying the high-performance work culture at HIVE." About HIVE Digital Technologies Ltd. HIVE Digital Technologies Ltd. is a pioneering technology company advancing sustainable blockchain and AI infrastructure powered by green energy. As the first cryptocurrency miner to go public on the TSX Venture Exchange in 2017, HIVE has grown into a global leader in digital asset mining and AI computing. With operations in Canada, Sweden, and Paraguay, HIVE continues to innovate while reducing its environmental footprint. For more information, visit or connect with us on: X: On Behalf of HIVE Digital Technologies Ltd. "Frank Holmes"Executive Chairman For further information, please contact: Nathan Fast, Director of Marketing and Branding Frank Holmes, Executive Chairman Aydin Kilic, President & CEO Tel: (604) 664-1078 Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Forward-Looking Information Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian and United States securities legislation and regulations that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes but is not limited to: the acquisition of the new site in Paraguay and its potential, the timing of it becoming operational; business goals and objectives of the Company; the acquisition, deployment and optimization of the mining fleet and equipment; the continued viability of its existing Bitcoin mining operations; the receipt of government consents; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon. Factors that could cause actual results to differ materially from those described in such forward looking information include, but are not limited to: the inability to enter into a binding agreement and complete the acquisition of the Paraguay site on the terms as announced or at all; the inability to complete the construction of the Paraguay acquisition on an economic and timely basis and achieve the desired operational performance; the ongoing support and cooperation of local authorities and the Government of Paraguay; the volatility of the digital currency market; the Company's ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company's operations; the regulatory environment for cryptocurrency in Canada, the United States and the countries where our mining facilities are located; economic dependence on regulated terms of service and electricity rates; the speculative and competitive nature of the technology sector; dependency on continued growth in blockchain and cryptocurrency usage; lawsuits and other legal proceedings and challenges; government regulations; the global economic climate; dilution; future capital needs and uncertainty of additional financing, including the Company's ability to utilize the Company's ATM Program and the prices at which the Company may sell Common Shares in the ATM Program, as well as capital market conditions in general; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the need for continued technology change; the ability to maintain reliable and economical sources of power to run its cryptocurrency mining assets; the impact of energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; share dilution resulting from the ATM Program and from other equity issuances; the construction and operation of facilities may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of electricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power for the Company to operate cryptocurrency mining assets; the risks of an increase in the Company's electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and the adverse impact on the Company's profitability; the ability to complete current and future financings, any regulations or laws that will prevent the Company from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; an inability to predict and counteract the effects of pandemics on the business of the Company, including but not limited to the effects of pandemics on the price of digital currencies, capital market conditions, restriction on labour and international travel and supply chains; and, the adoption or expansion of any regulation or law that will prevent the Company from operating its business, or make it more costly to do so; and other related risks as more fully set out in the Company's disclosure documents under the Company's filings at and The forward-looking information in this news release reflects the Company's current expectations, assumptions, and/or beliefs based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company's objectives, goals or future plans, the timing thereof and related matters. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance, and accordingly, undue reliance should not be put on such information due to its inherent uncertainty. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, other than as required by law. 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Yahoo
23-04-2025
- Business
- Yahoo
Bitcoin miner HIVE Digital completes the first 100 MW facility in Paraguay
HIVE Digital (Nasdaq: HIVE) has completed construction and energization of phase 1 infrastructure at the first 100 megawatt (MW) facility in Yguazù, Paraguay, the Bitcoin mining firm announced on Apr. 20. The Yguazù facility is an air-cooled data center backed by a fully energized 200 MW substation. The completion lets the facility host a hashrate capacity of 5 exahash per second (EH/s) for application-specific integrated circuit (ASIC) crypto miners. HIVE is currently running at a capacity of 200 petahash per second (PH/s) at this facility using its BUZZ miners. The firm expects 8,000 additional miners to be online by the end of April. Initial deliveries of ASICs, including Bitmain S21+ units, have arrived at the facility. The firm expects more than 20,000 units to be delivered before the end of May. HIVE expects the hashrate capacity in Paraguay to scale to 5 EH/s and that across all operations to 11.5 EH/s by the end of the second quarter of 2025. 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 network. It is calculated in terms of hashes per second, i.e., the number of hash operations executed per second. HIVE President and CEO Aydin Kilic said, 'Our fiscal year-end marked a strategic pivot — no debt, just smart execution. Our expansion from 6.5 EH/s to 11.5 EH/s has been paid and we're moving fast.' HIVE Digital is a Bitcoin mining firm with operations in Canada, Sweden, and Paraguay. The company's stock has climbed 15% since the announcement to $1.715 at the time of writing. Sign in to access your portfolio
