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This progress has lifted HIVE’s daily Bitcoin output above 8 BTC, doubling the Company’s production from May of this year.
“Our rapid deployment in Paraguay is precision execution at scale and a true testament to the tenacity, velocity, and vision of our team,” said Luke Rossy, HIVE’s Chief Operating Officer.
Rossy continued, “With over 5 EH/s of next-generation Bitmain S21+ Hydro miners already energized in Phase 2 at Yguazú, and new machines arriving weekly, our team, under the phenomenal leadership of Country President of Paraguay Operations, Gabriel Lamas, is working around the clock to install new machines as quickly as they arrive.”
Deployment will then begin at the Phase 3 Valenzuela site in September, the final stage of HIVE’s fully funded path to 25 EH/s. At which point, HIVE’s daily Bitcoin production is projected to reach 12 BTC per day (based on current Bitcoin network difficulty), with HIVE having a global fleet efficiency of approximately 17.5 J/TH, representing nearly 3% of global supply at current network difficulty. The Company’s expansion demonstrates the benefits of scale and energy efficiency, with the latest generation ASICs allowing HIVE to improve unit economics by generating more hashrate per joule of energy consumed, realizing additional revenue without additional labor or corporate overhead.
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