HIVE Digital Technologies Ltd. (NASDAQ:HIVE) shares rose 6.5% in premarket trading Monday after the company reported a sharp year-over-year increase in Bitcoin production for September.
The digital infrastructure firm said it mined 267 Bitcoin last month, an 8% rise from August’s 247 BTC and a 138% increase compared to the 112 BTC mined in September 2024. Average production during the month reached 9 BTC per day.
HIVE’s average hashrate grew 19% month-over-month to 19.4 exahash per second (EH/s), peaking at 21.7 EH/s. This rate of growth outpaced the Bitcoin network’s 16% increase in mining difficulty, underscoring the company’s improved operational performance.
The company also reported progress on its 100 MW Phase 3 Valenzuela facility in Paraguay, noting that construction work is ahead of schedule. Civil works are complete, and roughly half of the site’s hashrate capacity is now active. HIVE remains on target to achieve 25 EH/s by U.S. Thanksgiving, maintaining an average efficiency of around 17.5 joules per terahash.
“With disciplined energy management and optimized fleet efficiency, our current 9 BTC/day production demonstrates the resilience of our Paraguay-based engineering and technical teams,” said Aydin Kilic, President & CEO of HIVE.
HIVE’s global Bitcoin mining network now operates across Canada, Sweden, and Paraguay, with all sites powered by renewable hydroelectric energy. In total, the company’s fleet has reached 21.8 EH/s of Bitcoin mining capacity.
HIVE Digital Technologies stock price
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