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Yahoo
5 days ago
- Business
- Yahoo
Bitcoin mining company HIVE Digital records 18% jump in monthly output
Bitcoin mining company HIVE Digital records 18% jump in monthly output originally appeared on TheStreet. 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 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, 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.
Eyewitness News
10-06-2025
- Business
- Eyewitness News
Comms Minister Malatsi sticks to policy directive allowing multinationals to improve SA's infrastructure
CAPE TOWN - The Communications and Digital Technologies Minister, Solly Malatsi, says people should not obsess over Starlink, saying his new regulations will involve other companies. Malatsi again defended his policy directive, which allows multinationals to contribute to the economy through infrastructure development and other means, instead of ceding 30% ownership. On Tuesday, he told the Cape Town Press Club that the new regulations aren't intended to give Elon Musk's company, Starlink, a free pass. He further added that the new regulations are not akin to ministerial overreach. ALSO READ: Malatsi says his policy directive is not a scheme to give Starlink a backdoor into South Africa or circumvent the country's transformation laws. He says the directive is one of a range of interventions to grow the sector and transform it through other initiatives and involves other companies besides Starlink. "Whether it is Spacex, Starlink, Amazon's Project Kuiper, or Eutelsat OneWeb . Any other entrant offering alternative connectivity models, our objective remains the same." Malatsi says the regulations will consider all the written comments and public submissions before the process closes later this month.
The Citizen
10-06-2025
- Business
- The Citizen
Limpopo e-learning app secures R1m investment
LIMPOPO – What began as a dream between two childhood best friends from Gumbani village outside Malamulele has become a national success story. Marvel Shimbambu and Malungelo Mathonsi, co-founders of the e-learning app Novar, have secured a R1 million investment from Liberty to support the next phase of their growing platform. The journey started with determination and humble beginnings. With no formal training, facilities, or funding, the duo purchased a second-hand computer for R700 and taught themselves to code using YouTube tutorials. Their vision was simple but powerful: to improve access to quality education in under-resourced communities. The result was Novar, a free, interactive e-learning app that offers curriculum-aligned content, virtual learning tools, and information about bursaries. Since its launch, the app has been downloaded more than 50 000 times, empowering learners across South Africa. Their story gained widespread attention when social media content creator Austin Macaskill shared it on his platform, @coolstorybru_za, sparking national admiration and support. Global tech company IBM has taken note, enrolling the Novar founders in its prestigious Enterprise Development Class of 2025. Through this programme, Marvel and Malungelo will receive expert mentorship, technical support, and access to IBM's global innovation network to help scale their platform. In a significant show of support, Liberty's head of business efficiencies and sustainable impact, Amelia Beattie, announced a R1 million investment into Novar. This funding will help the team enhance their platform and expand their impact. Communications and Digital Technologies Minister Solly Malatsi praised both Liberty and IBM for their support of the young innovators. 'The backing from IBM and Liberty shows the transformative power of investing in home-grown talent. It sets a standard for the private sector. By adopting a whole-of-society approach, we can bring together government, industry, and communities to turn brilliant ideas into sustainable businesses,' said Minister Malatsi. 'This aligns with our vision for South Africa's digital future, ensuring young innovators from all corners of the country have the opportunity to thrive.' Back in Gumbani, the local community is celebrating the success of its young trailblazers. Community leader and activist Bishop Baloyi praised the pair for their dedication and discipline. 'These boys are a shining example to the youth of our village,' said Baloyi. 'We urge the government to install broadband and internet infrastructure in rural areas. Our young people are full of potential, but they need the tools to grow. What these two have done is groundbreaking; they defied the odds and are now helping to build a better future.' At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
The Citizen
09-06-2025
- Business
- The Citizen
Vivo launches affordable new Y-Series smartphones
The entry level and midrange smartphone market has become fiercely competitive. As South Africans continue to look for more affordable smartphones that rival flagship models, Vivo has introduced its latest Y Series lineup: the Y29, Y19s Pro, and Y04. In February, Communications and Digital Technologies Minister Solly Malatsi took steps to accelerate access to more affordable smart devices and smartphones. Competition The entry-level and midrange smartphone market has become fiercely competitive as tech companies pack innovative features, including artificial intelligence enhancement, into phones that are affordable. Huawei, Samsung, Oppo, Honour and Xiaomi are operating in a saturated market with all wanting the largest piece of the South African consumer market pie. With its latest series of devices, Vivo claims an industry-first seven-star quality promise, designed to give users peace of mind with robust protection and dependable performance across the Y Series range. ALSO READ: Vivo X200 Pro offers DSLR experience, but it's pricey Y29 While Y29 leads with the full suite of premium protections, the Y19s Pro and Y04 are also equipped with durability and performance features. The flagship of the Y Series, the Y29, features a slim 6500mAh BlueVolt battery. It has a reinforced anti-drop armour design, a 120Hz display, and is powered by the Snapdragon 685. Y19s The Y19s Pro features IP64 resistance, dual 300% audio booster speakers. Vivo said with 256GB of internal storage, 'there's plenty of room for apps, media, and memories.' Picture: Vivo Y04 Vivo claims the Y04 is set to raise the bar in the entry-level segment with the largest storage capacity in its price range – a generous 256GB of internal storage. The Y04 features IP64 dust and water resistance, a long-lasting 5500mAh battery. 'With the new Y Series, Vivo is not just launching affordable smartphones – it's introducing a new benchmark for performance, durability, and peace of mind in this segment,' Vivo said. Picture: Vivo Availability and pricing The Vivo Y29 is available at a recommended retail price of R7 999. The Y19s Pro is priced at R5 999, while the Y04 is available for R2 999. ALSO READ: WhatsApp for iPad: What you need to know
IOL News
30-05-2025
- Business
- IOL News
Starlink under scrutiny: Minister Malatsi backs ICASA's probe into unauthorised services
Communications and Digital Technologies Minister Solly Malatsi. Image: X / IOLGraphics Communications and Digital Technologies Minister Solly Malatsi has thrown his weight behind the Independent Communications Authority of South Africa (ICASA) to investigate Starlink, a satellite internet service operated by SpaceX, for allegedly operating in the country without authorisation. This development comes after the uMkhonto weSizwe Party (MK Party) alleged that Starlink was offering its services in South Africa without a licence. ICASA confirmed that the organisation had launched an investigation into the alleged unlawful use and provision of Starlink services in South Africa. ICASA spokesperson, Milly Matlou, said: 'ICASA has launched an investigation into the alleged unlawful use and provision of Starlink services in SA. We have also engaged SpaceX for further clarity and have currently deployed inspection teams on the ground to investigate the matter further.' If found guilty, the company could face enforcement actions, including fines or even a ban on its operations in the country. 'Should the investigation yield any breach with regulatory and legislative frameworks, the authority will explore the applicable enforcement actions within its disposal, which may include, among others, lodging a formal complaint with the International Telecommunication Union (ITU),' Matlou said. The MKP alleged that Starlink was operating in South Africa without authorisation, using a shadow entity called "ICASAsePUSH" to masquerade its operations. The party claimed that this operation constitutes a 'blatant' violation of South African telecommunications law and represents a direct affront to the country's Broad-Based Black Economic Empowerment (B-BBEE) framework. The party launched its allegations during the Portfolio Committee on Communications and Digital Technologies meeting in Parliament on Tuesday. 'During that session, the MK Party directly challenged the Minister of Communications and Digital Technologies regarding his awareness of this operation. His professed ignorance was not only unacceptable but deeply troubling,' party spokesperson Nhlamulo Ndhlela said. Malatsi has expressed his full support for ICASA's investigation, stating that it is the regulator's responsibility to manage both licence applications and investigations. 'The minister was made aware of the allegations when they were raised in the portfolio committee on Tuesday. It is now ICASA's responsibility to investigate these allegations, and the minister fully supports this investigation,' Malatsi's spokesperson, Kwena Moloto, said. This will be the second time the authority investigates Starlink's dealings. In 2023, ICASA issued a notice, warning that it was illegal for anyone or company to use Starlink, as it doesn't hold a licence to operate in the country. Meanwhile, during the session on Tuesday, Malatsi defended his recently gazetted proposed ICT policy adjustments, saying that it was intended to attract investment into the sector. He said it was not a way to allow Elon Musk to operate in South Africa. 'We are not attempting to open a new dispensation for Starlink or any other company or individual,' he told Parliament's Portfolio Committee on Communication. 'We are saying that the regulations in our sector must consistently make provisions for the two choices that exist in any other sector,' Malatsi said after his department on Friday gazetted a proposed policy direction to the ICASA. Cape Argus
