Bitcoin Miner Hive Digital Hits 6 EH/s Hashrate
Bitcoin miner Hive Digital Technologies said on January 2 that it was operating at an impressive 6.0 Exahashes per second (EH/s).
This is a 47% year-over-year increase from the 4.08 EH/s recorded at the end of 2023.
Hive predicts that computing power capacity will reach 15 EH/s by 2025
the company stated it upgraded its Bitcoin mining The fleet is equipped with advanced Avalon machines purchased from Canaan. These upgrades significantly increase operational efficiency and capacity.
Bitcoin miners can now process more transactions at a lower cost. In addition to expanding operational capacity, Hive has secured highly competitive energy pricing in Sweden, locking electricity rates at less than 2 cents per kilowatt-hour.
Looking to the future, honeycomb Its Bitcoin mining capacity is expected to grow significantly.
The company predicts that global computing capacity will reach 15 EH/s by the end of 2025. In comparison, Bitcoin miners marathon numbers It said that its overall operating computing power will reach 36.9 EH/s in the third quarter of 2024.
Hive’s 2025 computing power outlook is driven by the full deployment of a 100-MW hydropower expansion project in Paraguay. This will allow HIVE to further optimize its fleet efficiency, targeting a mixed fleet efficiency of 17 Joules per terahash (J/TH).
“After successfully completing our second voyage Bitcoin Halving As a company, HIVE is setting new standards for efficiency and innovation in Bitcoin mining. By optimizing our existing fleet and securing attractive prices for our operations in Sweden, we not only reduce the cost of Bitcoin production but also increase return on investment, paving the way for transformative growth in 2025. “Hive executive Frank Holmes said. .
Interestingly, Hive has also decided to move its headquarters from Vancouver, Canada to Texas, with a key reason being President-elect Donald Trump’s pro-Bitcoin stance.
“HIVE is coming to San Antonio, Texas, y’all! We’re moving our headquarters to the United States to embrace Texas’ business-friendly atmosphere, strong blockchain ecosystem, and renewable energy opportunities. We’re also in the process of Transitioning to U.S. GAAP reporting to align with investors,” the company said in a statement. tweet.
back donald trump’s victory The cryptocurrency market saw a huge increase in adoption and investment during the 2024 U.S. presidential election. Additionally, Hive talked about how the new administration will make the United States a “safer and more attractive” place. bitcoin miner.
“The depth and breadth of U.S. capital markets is unparalleled and key to our growth strategy. With $40 trillion in capital and $500 billion in daily trading volume, the U.S. market provides HIVE with the liquidity, visibility we need to scale and valuation opportunities,” explained Frank Holmes, Chairman of Hive.
Texas is also one of the largest Bitcoin mining hubs, with sites like marathon numbers, Anti-riot platform, Bit Deeras well as many other companies operating in the state.
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