HIVE Digital Technologies (HIVE) said it reached 23 exahashes per second (EH/s) of bitcoin mining capacity as it ramps up production to generate revenue that will fund the expansion of its artificial intelligence (AI) IT infrastructure.
The hashrate represents 283% growth this year and is on track to reach 25 EH/s before the end of the month, the company said on its website. This increase is fueled by the full deployment of hardware at its 100 megawatt (MW) hydroelectric campus in Paraguay, powered by the Itaipú Dam. HIVE reached 10 EH/s of mining capacity in May.
At the same time, HIVE is converting part of its Bitcoin mining footprint into liquid-cooled, AI-ready data centers. A recent land acquisition in Grand Falls, New Brunswick alone could support 25,000 GPUs as the company transitions the site to high-performance computing (HPC) standards.
These installations can remain online during maintenance and are designed for businesses that require constant uptime, such as AI cloud platforms and financial services. Additional facilities in Toronto and Sweden will bring the company’s planned GPU total to 36,000 by the end of 2026, up from about 5,000 today, the company said.
As demand for compute-intensive AI workloads grows, the company is betting that its already-built facilities, powered by renewable energy, give it a cost and speed advantage over commodity builds.
HIVE currently holds approximately 2,201 BTC in its treasury, making it the 34th largest digital asset treasury company, according to data from Bitcointreasuries.
Shares of the company fell 2.9 in pre-market trading on Monday.
