As a seasoned crypto investor with a keen eye for promising ventures and a soft spot for sustainable practices, these recent announcements by HIVE Digital have me quite optimistic. The acquisition of 6,500 energy-efficient ASIC miners and the construction of a 100-megawatt mining facility in Paraguay are strategic moves that not only boost HIVE’s mining power but also align with my values as an environmentally conscious investor.
On November 10th, HIVE Digital made two major announcements: they purchased 6,500 advanced Canaan Avalon A1566 ASIC miners, and they’re planning to build a 100-megawatt mining operation in Paraguay.
As reported in a recent announcement, HIVE has placed an order for 6,500 ASIC mining devices from Canaan Inc. Each device is designed to generate 185 terahashes per second, offering a more energy-efficient performance than its predecessors.
When it comes to Bitcoin mining, “hashrate” is the term used for the computational strength required to tackle intricate mathematical problems that maintain the network’s security and confirm transactions. A higher hashrate generally indicates increased mining capacity and the ability to mine more Bitcoins (BTC) efficiently.
The new shipments of machines will arrive in groups, starting with 500 units this current week, while the remaining ones are set for early 2025. These enhancements will raise HIVE’s mining capacity to approximately 6 quintillion hashes per second by March 2025, thereby improving the company’s overall energy efficiency.
Hive’s stock traded by over 15% in intraday trading.
Paraguay facility
Beyond the ASIC update, HIVE is now building a fresh 100 MW plant in Paraguay. Notably, this site, designed to run on renewable energy, reflects HIVE’s dedication to eco-friendly mining practices.
By mid-2025 Q2, we anticipate that the initial 30 Megawatts (MW) of capacity, equivalent to around 2 Exahashes per second (EH/s), will be up and running. If all 100 MW is active by the end of 2025, HIVE’s processing power could surge to approximately 12.5 EH/s.
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2024-11-11 23:16