HIVE Digital Technologies Surpasses 11 EH/s Bitcoin Hashrate Milestone as 100 MW Phase 1 in Paraguay Completed Ahead of Schedule - Company on Track to Reach 25 EH/s by Thanksgiving

HIVE Digital Technologies (HIVE) announced it has exceeded 11 Exahash per second (EH/s) in Bitcoin mining hashrate, reaching 11.4 EH/s and completing Phase 1 of its Yguazú site in Paraguay ahead of schedule. The company is progressing with Phase 2, expecting to reach 18 EH/s by late summer with new Bitmain S21+ Hydro ASICs, and remains on track to achieve 25 EH/s by American Thanksgiving 2025. HIVE's expansion into Paraguay leverages low-cost, renewable hydroelectricity and includes community investments, such as job creation and infrastructure improvements.

Analysis

HIVE Digital Technologies has announced a significant operational milestone, surpassing 11 Exahash per second (EH/s) in global Bitcoin mining hashrate to reach an operational 11.4 EH/s, marking the early and successful completion of Phase 1 (100 MW) at its Yguazú site in Paraguay. This achievement, part of a rapid expansion that saw hashrate increase by approximately 1 EH/s per week over the past five weeks to a current 11.5 EH/s, positions HIVE well towards its ambitious goal of 25 EH/s by American Thanksgiving 2025. The expansion into Paraguay is strategically underpinned by the use of low-cost, 100% renewable hydroelectricity in a nation described as aligned with U.S. interests and committed to sustainable growth, and is fully funded. Phase 2 is already progressing with new Bitmain S21+ Hydro ASICs being prepared for deployment, targeting 18 EH/s by late summer. While the company anticipates minor daily hashrate fluctuations in its Canadian data centers due to rising summer temperatures, the overall sentiment surrounding this news is strongly positive (overall sentiment score: 0.85; HIVE specific: 0.9), reflecting market optimism about HIVE's execution and growth trajectory. The upcoming fiscal Q4 and full-year results, scheduled for release on June 26, 2025, will provide further financial context to these operational advancements.

Key Decisions for Investors

• Investors should view the early completion of Phase 1 in Paraguay and the consistent hashrate growth to 11.5 EH/s, supported by strongly positive sentiment, as evidence of HIVE's strong operational execution.
• The upcoming fiscal Q4 and full-year earnings report on June 26, 2025, represents a key near-term catalyst; investors should scrutinize it for financial validation of the ongoing operational expansion and cost efficiencies.
• While HIVE appears on track for its 18 EH/s summer target and 25 EH/s Thanksgiving goal, continued monitoring of execution against these aggressive targets and potential impacts from seasonal operational adjustments is warranted.
• The strategic focus on fully funded, low-cost renewable energy in Paraguay is a significant positive, and investors should assess how this translates to sustained operational efficiency and competitive advantage, considering the stated alignment of Paraguay with U.S. interests.