HIVE Digital Technologies Achieves 290% Year-Over-Year Hashrate Growth, Strengthening Its Position as a Global Leader in Green-Powered Digital Infrastructure
Executive Summary
- HIVE Digital Technologies reported a 290% YoY increase in hashrate to 22.2 EH/s and produced 297 BTC in January 2026, a 191% rise over the prior year.
- The company executed cashless exercises of its 2025 Bitcoin pledge, realizing ≈ $7.4 M and redeploying proceeds to acquire 2,667 Bitmain S21 XP ASIC miners for its Paraguay site.
- Total renewable‑powered capacity stands at 440 MW, with an additional 100 MW contracted for Q3 2026, bringing the portfolio to 540 MW and positioning HIVE for future AI/HPC workloads.
Key Details
- Production Metrics (January 2026)
- Bitcoin Produced: 297 BTC (+191% YoY vs. 102 BTC in Jan‑25).
- Average Daily Production: 9.6 BTC/day.
- Hashrate: 22.2 EH/s average, peaking at 23.7 EH/s (+290% YoY vs. 5.7 EH/s).
- Fleet Efficiency: 17.5 J/TH (targeting improvement to 17 J/TH after new miner install).
- BTC per EH/s: 13.4 BTC.
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Global Bitcoin Network Share: >2% of worldwide hashrate.
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Cashless Exercise of Bitcoin Pledge
- Exercised 480 BTC at an average price of ≈ $102,000/BTC (including some exercises at $110,000).
- Total value realized: ≈ $7.4 M.
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Proceeds used to purchase 2,667 Bitmain S21 XP ASIC miners delivered to Yguazú, Paraguay.
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Equipment Upgrade
- New Bitmain S21 XP ASIC miners installed in Paraguay, replacing legacy Buzzminer units.
- Expected post‑install hashrate: 25.5 EH/s globally.
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Anticipated fleet efficiency improvement to 17 J/TH, lowering cost per hash and boosting margins.
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Renewable Energy Capacity
- Current operational renewable capacity: 440 MW.
- Additional contracted renewable energy: 100 MW slated for deployment in Q3 2026.
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Total future portfolio: 540 MW, supporting both Bitcoin mining and potential AI/HPC workloads.
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Strategic Outlook
- Management emphasizes disciplined capital management, downside protection via the pledge, and flexibility to expand into AI/high‑performance computing.
- No cash calls required for Bitcoin pledge redemption; the pledge provides upside participation when BTC price exceeds strike.
Notable Quotes
“Our strength comes from our people and our disciplined execution… With 290% year‑over‑year growth and more than 2% of the global hashrate, HIVE continues to benefit from economies of scale while maintaining flexibility.” – Frank Holmes, Executive Chairman
“January's results validate our strategy and provide a strong foundation as we expand further into AI and high‑performance computing infrastructure.” – Aydin Kilic, President & CEO