HIVE Digital Technologies Ltd. (CVE: HIVE) (NASDAQ: HIVE) (FSE: YO0) passed 10 Exahash per second (EH/s) in Bitcoin mining capacity.
The company said on Friday that this development represents an increase from 6 EH/s at march quarter-end. Furthermore, HIVE”s peak hashrate received a 58 per cent month-over-month bump from 6.6 EH/s in April to 10.4 EH/s in May.
HIVE rapidly scaled its operations after successfully energizing its 100 MW hydro-powered facility in Paraguay. This move reinforced its global position as a Bitcoin miner committed to fast growth and energy efficiency.
The company operates across 9 time zones and 5 languages, harnessing 100 per cent hydroelectric power. As a result, HIVE delivers sustainable computing at scale for both Bitcoin mining and AI data centers.
Currently, HIVE is on track to reach 11.5 EH/s by the end of June. Moreover, the Company continues to accelerate toward its ambitious 25 EH/s target by Q4 2025.
HIVE mined 139 Bitcoin in May, averaging 4.5 BTC per day.
The company maintained strong mining efficiency, averaging 8.5 EH/s throughout the month and peaking at 10.4 EH/s.
Production efficiency remained high, with 16.4 BTC generated per EH/s.
HIVE’s fleet sustained energy efficiency at approximately 20 joules per terahash.
Importantly, the Company’s network share exceeded one per cent of the global Bitcoin network hashrate, further solidifying its industry position.
“In May, we scaled at an exceptional pace—adding nearly 1 Exahash per week.,” said Frank Holmes, co-founder and executive chairman of Hive.
“This rapid growth demonstrates our operational strength and the effectiveness of our dual-engine model, which integrates rapid scaling high-efficiency Bitcoin mining with our Buzz HPC cloud division which is generating record cash flow.”
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Crossing 10 EH/s has pushed beyond 5 BTC per day
HIVE leads the way in building sustainable, high-performance digital infrastructure for data centers. As soon as new ASIC miners arrive, the team deploys them—often within six hours—quickly turning hardware into cash flow.
Aydin Kilic, President and CEO of HIVE, noted that crossing 10 EH/s has already pushed daily production beyond 5 BTC. This summer, the fleet is targeting 18 EH/s and is expected to exceed 8 BTC per day. By Q4, HIVE aims to hit 25 EH/s and produce over 12 BTC daily.
At that level, production costs are projected to fall below $50,000 per Bitcoin, assuming network difficulty remains near 127T and fleet efficiency improves to 17.5 J/TH.
Thanks to the team’s rapid execution, HIVE remains well ahead of its mid-year targets.
Bitcoin mining is becoming increasingly expensive due to rising energy costs, growing network difficulty, and the need for next-generation ASIC miners. As competition intensifies, miners must innovate to remain profitable.
Companies like HIVE are addressing these challenges by deploying high-efficiency fleets powered entirely by renewable energy, including hydroelectricity.
HIVE also acts quickly, often installing new ASICs within hours to maximize output. With targets of 25 EH/s and fleet efficiency under 17.5 J/TH, the company aims to reduce production costs to below $50,000 per Bitcoin. These strategies help offset operational expenses while maintaining a competitive edge in a tightening global market.
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