Hive Blockchain doubles its Bitcoin production and aims for 3% of the global hashrate

Hive Blockchain Technologies, a leading company in sustainable Bitcoin mining and AI infrastructure development, announced today a significant breakthrough: in the last three months, it has doubled its BTC production, increasing from 3 to 6.5 Bitcoin per day, with the goal of reaching 9 BTC per day within six weeks.

“We are a compact team, but extremely efficient. We operate like the Navy SEALs of mining: specialized, fast, agile”,

stated the CEO during the conference, which remained under embargo until today at 12:00 PM.

An exponential growth: revenues at +291% and global presence expanding

In 2023 Hive generated 115 million dollars in revenue. Now, thanks to the expansion in Paraguay and North America, the updated projection is 450 million dollars by the end of 2025. The expected EBITDA is 250 million, with a lean structure consisting of only 25 employees.

With these numbers, Hive estimates a valuation of over 12 dollars per share, according to the market multiples applied to other recent acquisitions in the sector (e.g., Core Scientific). If that weren’t enough, the company expects to represent 3% of the entire global hashrate of Bitcoin by this fall, consolidating its strategic role in the global mining network.

AI and sustainability: the two souls of the new mining

In parallel with mining, Hive is investing heavily in high-performance AI data centers. After the experience in Ethereum mining with GPUs, today the company uses Nvidia chips to enhance its facilities in Sweden, Montreal, and Toronto.

An interesting fact: 10 megawatts in AI generate the same revenue as 100 megawatts dedicated to Bitcoin mining. Is the market destined to shift its focus?

A model of social and environmental impact

Hive is also synonymous with sustainable and community commitment. In Canada, it recycles the energy from its facilities to heat industrial buildings, saving over 300,000 dollars for local partners. In Paraguay, it has installed air conditioning in schools with temperatures of 40°C and has lit up entire neighborhoods to ensure safety for women.

An approach that goes beyond profit and recognizes the human and social value of technological innovation.