HIVE Digital exceeds 22 EH/s and accelerates its conversion to Tier-3 data centers for AI in Sweden

HIVE Digital Technologies (TSX.V: HIVE | Nasdaq: HIVE) announced that it has surpassed 22 Exahash per second (EH/s) of global Bitcoin mining capacity, recording a growth of 267% so far this year, while accelerating the conversion of Tier-1 data centers into high-performance Tier-3 facilities (HPC) for its AI cloud in Sweden.

Global expansion of green mining

The new milestone reflects the expansion of its hydroelectric campus in Valenzuela (Paraguay), powered by the Itaipú dam, one of the largest in the world. HIVE currently reaches 9.5 BTC daily, with an average efficiency of 17.8 J/T and a mining margin of 55% after electricity costs, calculated with a hashprice of $47.

The company expects to reach 25 EH/s by Thanksgiving in the U.S. and achieve 35 EH/s by 2026, maintaining its focus on renewable energy and fleet efficiency.

AI Cloud: the new frontier of HIVE

Meanwhile, HIVE accelerates the conversion of its data center in Boden (Sweden) towards a Tier-3 model with liquid cooling, which will host 2,000 NVIDIA GPUs for AI workloads and enterprise cloud computing in the European Union.

The technical redesign is now complete and construction began this quarter. According to the firm, this conversion will allow for cash flow generation in just nine months, compared to the three years required for a facility built from scratch.

This project joins its active operations in Stockholm, as well as the BUZZ center in Toronto, where an additional 2,000 GPUs will be installed in 2026, and future expansions in New Brunswick. In total, HIVE projects to manage around 6,000 global GPUs within its HPC infrastructure.

Executive Vision

Frank Holmes, co-founder and executive chairman, highlighted that this advance positions HIVE as a company with a <<dual digital engine>>, capable of uniting Bitcoin mining with AI cloud. According to Holmes, miners were the first to build digital infrastructure networks that today support the world's major data centers.

For his part, Aydin Kilic, CEO of HIVE, emphasized that repurposing existing infrastructure allows for accelerating revenue and strengthening profitability, while maintaining a 100% renewable energy matrix.

Financial Perspectives

The Paraguayan expansion is already fully funded, with fixed-rate hydroelectric supply that ensures operational predictability. HIVE estimates solid growth in annual recurring revenues (ARR) from both mining and its AI Cloud contracts.

The company reaffirms its goal of 25 EH/s by the end of 2025 and the simultaneous development of a five times larger HPC business in 2026.