The US stock charts are showing a notable increase in shares of HIVE Digital Technologies Ltd. (NASDAQ: HIVE), which as of the latest check were up 7.02% to $3.05. The spike comes after the business said that it had achieved a significant operational milestone, obtaining an astounding operational hashrate of 6.0 Exahashes per second (EH/s). Compared to the 4.08 EH/s recorded on December 31, 2023, this is a 47% growth year over year.
Improvements in Technology and Cost-Efficiency Measures
The addition of Canaan Inc.’s cutting-edge Avalon mining equipment to HIVE’s fleet of Bitcoin miners was the primary driver of this success. The improvement has increased its mining operations’ capacity and efficiency. The company’s dedication to profitable operations and cost-effective operations is further supported by the extremely inexpensive energy tariffs it has obtained in Sweden, where power costs less than two cents per kilowatt-hour.
By the end of 2025, HIVE hopes to have achieved a worldwide hashrate capacity of 15 EH/s. The installation of a 100 MW hydroelectric-powered expansion in Paraguay would result in a fleet efficiency of 17 joules per terahash (J/TH), solidifying the business’s standing as a pioneer in environmentally friendly blockchain operations.
Strategic Relocation to San Antonio, Texas
A significant milestone in HIVE Digital’s expansion plan has been marked by the announcement of the company’s move from Vancouver, Canada, to San Antonio, Texas. It is expected that the action will raise stock trading liquidity, improve shareholder value, and draw in a wider spectrum of international investors. To maintain business continuity, its CEO and CFO will stay in Canada, but the company’s leadership has agreed to lease new office space in San Antonio.
Commitment to Green Innovation
Aligned with its sustainability goals, HIVE’s expansion includes exploring renewable energy solutions in the US. The company remains at the forefront of environmentally responsible blockchain and AI-driven data center operations. Its dual focus on innovation and efficiency underscores its transformative vision in Bitcoin mining and blockchain technologies.
