Hive Digital Technologies Ltd (NASDAQ:HIVE) shares rose 6% in premarket trading Monday after the company revealed it has exceeded 22 exahash per second (EH/s) in global Bitcoin mining capacity — a 267% increase since the start of the year.
The new milestone comes on the heels of a successful expansion of Hive’s hydro-powered Valenzuela facility in Paraguay, its third 100-megawatt green campus in the country. Current production has reached 9.5 Bitcoin per day, with fleet efficiency of around 17.8 joules per terahash and a 55% mining margin after electricity costs at $47 hashprice.
Hive aims to push capacity to 25 EH/s by U.S. Thanksgiving, with an efficiency target of 17.5 J/TH. At the same time, the company is ramping up its AI Cloud strategy in Sweden by converting its existing Tier-1 data center in Boden into a Tier-3 liquid-cooled high-performance computing facility.
This conversion approach offers a faster route to positive cash flow—around nine months compared to three years for a new build. Once complete, the upgraded Swedish site will house 2,000 NVIDIA H100 Tensor Core GPU units to support enterprise-grade AI and GPU cloud workloads across the EU.
The company’s broader growth roadmap includes its BUZZ data center in Toronto, which will host an additional 2,000 GPUs in 2026, and an expansion in New Brunswick. Hive expects to operate roughly 6,000 GPUs globally by 2026.
All hardware for the Paraguay expansion has been fully funded and delivered, supported by fixed-rate hydroelectric power contracts. The company projects it will reach 25 EH/s by late 2025 and 35 EH/s in 2026, while scaling its high-performance computing division fivefold over the same period.