Key Takeaways
HIVE Digital Technologies reported a 285% year-over-year revenue increase to $87.3 million, driven by its new hydro-powered Bitcoin mining facility in Paraguay. The site has reached 300 MW of capacity and over 24 EH/s in hashrate, positioning HIVE for a potential $500 million annual revenue run rate as it captures over 2% of the global Bitcoin network.
- Record Financials: The company announced record quarterly revenue of $87.3 million, a 285% year-over-year increase, with a current revenue run rate of $1 million per day.
- Paraguay Expansion: HIVE completed 300 MW of new capacity at its hydro-powered facility in Paraguay, achieving an operational hashrate of over 24 EH/s.
- Forward Guidance: Management projects a revenue run rate approaching $500 million annually once the company reaches its target of 25 EH/s in Bitcoin mining capacity.
