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By Gerelyn Terzo, Benzinga
HIVE Digital Technologies (NASDAQ: HIVE) is setting a tone of robust expansion for this year. The company, which is in the midst of relocating its headquarters from Vancouver, Canada to San Antonio, Texas, focuses on two white-hot market segments; high-performance computing (HPC) and Bitcoin mining. Now, HIVE reports it has significantly bolstered its global footprint by scooping up a 200 MW facility located in Yguazú, Paraguay from Bitfarms.
Last year, HIVE mined 1,772 Bitcoin in a bullish environment in which the BTC price went well past the $100,000 threshold for the first time in history. HIVE’s Bitcoin holdings grew to 2,805 as of the end of 2024, reflecting 65% year-over-year growth.
With their latest Paraguay expansion, HIVE Digital Technologies says it is positioning itself for explosive growth, targeting 25 EH/s by September 2025. The United States, where HIVE Digital Technologies is now based, has been leading the way in BTC mining, comprising more than 40% of the global Bitcoin mining hashrate amid regulatory tailwinds in states such as Texas.
Bitcoin mining has become increasingly competitive as the global hashrate continues to soar. In response, HIVE plans to quadruple its hash rate capacity in 2025, a strategic move which positions the company to mine more Bitcoin while strengthening the network, just in time for what appears to be a bullish cycle in the crypto industry.
Investors don’t have to mine their own Bitcoin to gain exposure to this rapidly expanding sector. They can explore HIVE Digital Technology’s stock to decide whether it has a place in their portfolio.
HIVE Digital’s Expanding Hashrate
Paraguay has become an increasingly attractive destination for Bitcoin miners, and its abundant renewable energy aligns perfectly with HIVE Digital Technology’s focus on sustainability. The nation boasts plentiful and inexpensive hydroelectric power, marked by the Itaipu Dam, one of the largest hydroelectric power plants on the planet.
Additionally, Paraguay has implemented a Bitcoin-friendly regulatory framework in which companies like HIVE Digital Technologies can operate more freely. While temperatures can become scorching, there are cooling mechanisms in place as the country builds up its infrastructure to meet rising data center demand.
HIVE Digital Technologies is no stranger to Paraguay, having recently broken ground on a 100 MW facility there. With the addition of Bitfarms’ 200 MW site, HIVE says it is now targeting 317% global hashrate growth by September of this year, from 6 EH/s to 25 EH/S, thereby hoping to capture 3% of the global Bitcoin network pie.
With all of this control comes responsibility. Fortunately, HIVE says it has built a lean and efficient team that it believes will deliver $20 million in revenue per employee to the company each year. HIVE believes its revenue per employee (RPE) could surpass that of big tech companies like Apple (NASDAQ: AAPL), whose RPE hovers at $2.4 million, and even Nvidia (NASDAQ: NVDA), with an RPE last year of over $3 million.
Not only is HIVE Digital Technologies increasing its own Bitcoin mining capabilities, but it says it is also creating a model for the industry to emulate for unparalleled efficiency. HIVE says it is targeting 16.5 joules per terahash (J/TH), reflecting BTC miner fleet efficiency relative to the hashrate.
HIVE Digital’s Revenue Outlook
HIVE has achieved a strong global presence since first going public in 2017, operating across nine different time zones and five languages. The company’s target of 430 MW capacity by Q3 2025 underpins its reputation in the eyes of many as a global technology leader.
With the addition of the Yguazú facility, HIVE Digital Technologies believes its annual top-line revenue target of $500 million is now within grasp. Investors can learn more about HIVE Digital Technology’s stock here, ahead of the company’s expected earnings report on February 11.
Featured photo by MidJourney on Pixabay.
Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders.
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