HIVE Digital Technologies is set to dramatically expand its Bitcoin mining capabilities in 2025 through strategic acquisitions in Paraguay, with plans to increase its hashrate from 6 EH/s to 25 EH/s by September.
The company has acquired 300 MW of hydro-powered Bitcoin mining capacity, including 200 MW from Bitfarms, positioning itself for significant growth in the cryptocurrency mining sector. In February alone, HIVE mined nearly 90 Bitcoins, bringing its total holdings to 2,620 BTC valued at approximately $220 million.
This expansion comes at a critical time when data center computing demand is surging, with companies investing hundreds of billions of dollars in infrastructure. HIVE's strategic move in Paraguay is expected to provide a substantial competitive advantage, leveraging hydro-powered facilities for more efficient mining operations.
Wall Street has taken notice of HIVE's ambitious growth strategy. Rosenblatt recently initiated coverage of the stock with a 'buy' rating and a $6 price target, describing the company as poised to 'enter an unprecedented growth phase'.
The company's leadership, including COO Luke Rossy and CEO Aydin Kilic, remains confident in their expansion plans. To support this growth, HIVE has also appointed Craig Tavares as President and COO of its BUZZ HPC business segment, with a goal of driving revenue to the $100 million threshold.
HIVE's strategic approach reflects its early mover status in Bitcoin mining and its ability to navigate the volatile cryptocurrency market. By focusing on hydro-powered facilities and maintaining financial discipline, the company is positioning itself for potential significant returns in the rapidly evolving digital infrastructure landscape.
