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Production / Operations

Hive produces 267 bitcoin in September

By The Northwire Desk — AI Analysis Oct 06, 2025 · 02:49 HIVE · 6.24 Hive Digital Technologies Ltd
HIVE · Price

Executive Summary

  • Hive Digital Technologies reported September 2025 bitcoin production of 267 BTC, an 8% month‑over‑month increase and a 138% year‑over‑year rise.
  • Phase 3 Valenzuela (100 MW) commissioning is ahead of schedule, with civil works complete and ASIC integration underway; hash rate rose to 19.4 EH/s.
  • The company projects total fleet capacity of ~25 EH/s by U.S. Thanksgiving 2025, maintaining an average efficiency of ~17.5 J/TH and supporting continued cash‑flow generation for its AI cloud business.

Key Details

  • September Production: 267 BTC mined (up from 247 BTC in August 2025; up from 112 BTC in September 2024).
  • Average Daily Output: ~9 BTC per day.
  • Hash Rate: Averaged 19.4 exahashes/second (EH/s) with a peak of 21.7 EH/s; 19% MoM increase from 16.3 EH/s in August.
  • Fleet Efficiency: 18 joules per terahash (J/TH).
  • BTC per EH/s: 13.8 BTC.
  • Phase 3 Valenzuela Status:
  • 100‑MW facility nearing completion; civil works finished, hydro containers installed, control centre live.
  • Approximately 50% of hash‑rate capacity already online; remaining hydro containers under commissioning.
  • New ASIC units being integrated weekly; next wave scheduled for installation within the coming week.
  • Future Capacity Target: Scale to ~25 EH/s by U.S. Thanksgiving 2025, maintaining ~17.5 J/TH efficiency.
  • Network Difficulty Context: Bitcoin network difficulty rose 16% MoM (130 T → 151 T) during September; Hive’s hash‑rate growth outpaced this increase.
  • Global Fleet Size: Total mining fleet now totals 21.8 EH/s, powered entirely by renewable hydroelectric energy.
  • Cash Flow Outlook: Mining cash flow expected to fund ongoing expansion of HPC and GPU AI cloud operations.
  • Management Commentary:
  • Frank Holmes highlighted dual‑engine strategy (mining + AI cloud) and strategic partnerships with Bell Canada, Dell Canada, Vast Data, etc.
  • CEO Aydin Kilic emphasized disciplined energy management, on‑track commissioning, and focus on ROIC to deliver shareholder value.

Notable Quotes

  • “Hive's September milestones demonstrate the power of a focused, dual‑engine strategy as our global bitcoin mining fleet now produces over nine BTC per day.” – Frank Holmes, Co‑Founder & Executive Chairman
  • “With construction substantially complete at our phase 3 100‑megawatt site in Valenzuela… we are on track for 25 EH/s by American Thanksgiving.” – Aydin Kilic, President & CEO
Read the original news release →

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