Hive produces 247 bitcoin in August

Executive Summary

• Hive Digital Technologies reported a 22% month-over-month increase in Bitcoin production for August 2025, producing 247 BTC compared to 203 BTC in July.
• The company has commenced Phase 3 expansion at its Valenzuela site in Paraguay, bringing the first six Bitmain S21+ Hydro containers online and increasing its global fleet to 18.5 EH/s.
• Management reaffirmed its target of reaching 25 EH/s by U.S. Thanksgiving 2025, with Phase 3 fully financed and additional units scheduled for delivery in the coming weeks.

Key Details

• August 2025 Production Metrics:
  • Total Bitcoin Produced: 247 BTC (vs. 203 BTC in July).
  • Average Daily Production: 8 BTC.
  • Average Hash Rate: 16.3 EH/s.
  • Peak Hash Rate: 18.1 EH/s.
  • Fleet Efficiency: ~18.5 joules per terahash.
  • BTC per EH/s: 15.2 BTC.
• Operational Capacity:
  • Global Fleet Total: 18.5 EH/s.
  • Phase 2 (Yguazu) completed, contributing to >18 EH/s capacity powered by renewable hydroelectric energy.
  • Phase 3 (Valenzuela) construction substantially complete; deployment of ASICs begun.
  • First Phase 3 Units Online: Six Bitmain S21+ Hydro containers (350 PH/s).
• Expansion & Future Outlook:
  • Phase 3 represents the third 100-megawatt green energy infrastructure site in Paraguay.
  • All Phase 3 ASICs are fully financed.
  • Target Capacity: 25 EH/s by U.S. Thanksgiving 2025.
  • Expected Daily Production at 25 EH/s: ~12 BTC (based on current network difficulty).
  • Expected Market Share: ~2.5% to 3% of the global Bitcoin mining network.
  • Expected Efficiency at Scale: ~17.5 joules per terahash.
  • Cost Structure: Fixed-rate hydroelectric power and minimal incremental labor; power expenses scale proportionally with machine usage.

Notable Quotes

• Frank Holmes, Co-founder and Executive Chairman: "After starting 2025 at six EH/s, our global team has already scaled capacity by 200 per cent. This remarkable achievement highlights our ability to execute across nine time zones, three continents and three languages. As we grow, we also remain committed to being responsible stewards, creating economic opportunities in the communities where we operate."
• Aydin Kilic, President and CEO: "Our focus is now on accelerating deployment at Valenzuela. Led by our Paraguayan country president Gabriel Lamas, the team has exceeded expectations at every stage. We look forward to reaching our target of 25 EH/s by U.S. Thanksgiving, further strengthening Hive's position in the bitcoin network and delivering enduring value to shareholders."
• Darcy Daubaras, CFO: "In the bitcoin mining sector, investors and analysts are focused on hash rate expansions, EH/s and daily bitcoin production as critical indicators of a company's growth and operational efficiency and potential. These metrics, particularly EH/s milestones, are the lifeblood of valuation in this industry as they directly drive revenue potential in a highly competitive and capital-intensive market."