HIVE Digital Technologies Completes Phase 2 of Its Yguazu Project in Paraguay Reaching 18 EH/s, Producing 8 Bitcoin per Day from Hydroelectric Power

Executive Summary

• HIVE Digital Technologies Ltd. has completed Phase 2 of its Yguazú facility in Paraguay ahead of schedule, achieving a global Bitcoin mining capacity of over 18 Exahash per second (EH/s).
• The company is currently mining over 8.5 Bitcoin per day globally, up from over 8 BTC per day when the 17 EH/s target was previously eclipsed.
• Phase 3 construction at the Valenzuela site is substantially complete with transformers energized; ASICs are being installed to reach a total expansion target of 25 EH/s by U.S. Thanksgiving.

Key Details

• Yguazú Phase 2 Completion: Successfully completed ahead of schedule, reaching a total global hashrate of 18 EH/s.
• Current Production Metrics:
  • Global hashrate: >18 EH/s.
  • Daily Bitcoin production: >8.5 BTC (previously >8 BTC at 17 EH/s).
  • Global fleet efficiency: Approximately 18.5 J/TH.
• Infrastructure Details:
  • Yguazú site capacity: 200 MW powered by renewable hydroelectric energy from the Itaipú Dam.
  • Technology: Utilizes dry-cooler technology for hydro ASIC cooling infrastructure.
• Valenzuela Phase 3 Status:
  • Construction is substantially complete.
  • Transformers have been energized (third 100 MW of green energy infrastructure in Paraguay).
  • ASICs (Bitmain S21+ Hydro units) have been paid for, shipped, and initial batches received on-site.
  • Installation of initial batches scheduled for the coming week; remainder expected this month.
• Future Projections (25 EH/s Target):
  • Target completion: U.S. Thanksgiving 2025.
  • Projected daily Bitcoin production: Approximately 12 BTC (based on current network difficulty).
  • Projected global market share: Approximately 3% of the global Bitcoin mining network.
  • Projected energy efficiency: Approximately 17.5 J/TH.
• Financial & Operational Context:
  • Capital expenditures for expansion have been deployed and are within the company's budget for the year.
  • Cost structure remains predictable due to fixed-rate hydroelectric power and absence of material incremental labor costs.
  • Ongoing operating expenses (power) scale proportionally with machine usage.

Notable Quotes

• Aydin Kilic, President & CEO: "HIVE is one of the few companies in the world operating with a dual business model, in Bitcoin mining and also AI Cloud computing powered by GPUs in our HPC data centers... At HIVE, we are focused on creating enduring value through disciplined growth, operational excellence, and a dual-engine model that puts us at the forefront of digital infrastructure and next-generation finance."
• Luke Rossy, COO: "While our 200 MW Yguazú site is the largest Bitcoin mining facility HIVE has constructed, it has done so in record time... I am incredibly proud of our team, as we developed mastery of the hydro ASIC cooling infrastructure, to optimize operational efficiency in the local climate, using the dry-cooler technology."
• Darcy Daubaras, CFO: "Our focus remains unwavering: deliver strong and sustainable performance, drive sector-leading efficiency through superior capital returns and low G&A expenses and create lasting value for our shareholders as we continue building resilient, decentralized Bitcoin infrastructure."