HIVE Digital Technologies (CVE: HIVE) (NASDAQ: HIVE) (FSE: YO0) has completed its Phase 2 expansion at the Yguazú site in Paraguay ahead of schedule. The company also surpassed 18 Exahash per second (EH/s) of global Bitcoin mining capacity last week. HIVE is now mining more than 8.5 Bitcoin per day.
CEO Aydin Kilic spoke about the company’s dual business model, combining Bitcoin mining with AI cloud computing powered by GPUs in HPC data centers.
“At HIVE, we focus on creating enduring value through disciplined growth, operational excellence, and a dual-engine model,” Kilic said.
With Phase 2 finished, HIVE achieved its goal of reaching 18 EH/s by summer 2025. Furthermore, the Yguazú facility, now fully operational, uses 200 megawatts (MW) of hydroelectric power. Global fleet efficiency is approximately 18.5 Joules per Terahash (J/TH).
Additionally, the company energized transformers at the Valenzuela site, marking the third 100 MW of green energy infrastructure in Paraguay. HIVE expects to install application-specific integrated circuits (ASICs) in the coming weeks. Phase 3 construction is substantially complete.
Valenzuela represents the final step in HIVE’s plan to reach 25 EH/s. Upon completion by US Thanksgiving, the company projects producing about 12 Bitcoins per day.
Furthermore, HIVE continues to prioritize sustainable growth, leveraging green energy and operational efficiency. The company’s strategy positions it at the forefront of digital infrastructure and next-generation finance.
In addition to mining, HIVE’s HPC data centers support AI workloads, providing a diversified revenue base. This dual approach, along with its rapid expansion, underscores the company’s commitment to long-term value creation and technological leadership in the sector.
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Hive competitors have gotten more aggressive
Over the past year, HIVE’s competitors have pursued aggressive expansion strategies to capture market share.
CleanSpark Inc (NASDAQ: CLSK) has also rapidly scaled its operations, achieving a 287.9 per cent increase in hashrate and a 33.3 per cent improvement in efficiency year-over-year.
By August 2025, the company reached a 50 EH/s operational hashrate, with an average of 43.3 EH/s and peak efficiency of 16.07 J/TH. Additionally, CleanSpark expanded into new states, including Mississippi, Tennessee, and Wyoming, completing multiple site expansions to boost its infrastructure and production capacity.
Marathon Digital Holdings (NASDAQ: MARA) focused on increasing Bitcoin holdings while expanding infrastructure. In 2024, the company acquired 22,065 BTC at an average price of $87,205 and mined an additional 9,457 BTC, bringing total holdings to 44,893 BTC.
Furthermore, Marathon completed a 50 MW expansion at its Ohio data center, increasing its operational capacity to 100 MW. The company aims to strengthen market position while maintaining long-term growth in both mining output and treasury holdings.
Hut 8 Corp (NASDAQ: HUT) (TSE: HUT) announced plans for four new Bitcoin mining sites across Texas, Louisiana, and Illinois, adding 1.5 gigawatts of capacity.
In addition, Hut 8 partnered with American Data Centers to form American Bitcoin, a joint venture focused on Bitcoin mining and treasury operations. This strategy diversifies geographic exposure and positions the company to meet energy-intensive demand.
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