HIVE Digital (HIVE) is moving fast towards its 25 EH/s targeting, reaching 11 EH/s online in June, per the company’s monthly report.
The Canadian Bitcoin miner generated 164 BTC in June, up 18% from May as Phase 1 operations from its Paraguay-based mining site kicked into gear.
The company claims a further 6.5 EH/s will come online with Phase 2 with an expected efficiency of ~18.5 J/TH from Bitmain S21+ Hydro miners in Phase 2.
Since March, HIVE has nearly doubled its hashrate through back-to-back 100 MW expansions.
On the AI front, BUZZ HPC–HIVE’s wholly owned subsidiary for HPC infrastructure–signed a purchase agreement for a 7.2 MW Tier 3 data center in Toronto to host up to 5,000 GPUs, extending HIVE’s renewable-powered infrastructure into sovereign AI services.
Read More: Hive Digital to acquire 7.2 MW AI facility in Toronto
HIVE bolstered its balance sheet with $70 million in gross proceeds from its October 2024 ATM program during Q2, funding continued growth in both ASIC and GPU infrastructure.
At time of publication, HIVE is down 3.15% from yesterday’s close.
