Bitcoin miner Hive Digital is upgrading its infrastructure because it begins development of services in Paraguay, the fourth nation it should function in. The Nasdaq-listed Canadian miner has bought 6,500 Canaan Avalon A1566 application-specific built-in circuits (ASICs) for supply from December by way of March 2025.
Hive Digital revs up
The primary 500 new ASICs have been delivered within the second week of November, with 4 extra shipments coming by way of the primary quarter of 2025. They may enhance Hive Digital’s hash price from 5.6 EH/s to six EH/s by March, the corporate stated.
Shortly after the completion of the ASICs supply, 30 MW of mining capability is anticipated to return on-line in Paraguay, bringing Hive Digital’s hash price to eight EH/s by the tip of the second quarter. The brand new ASICs will enhance Hive Digital’s effectivity from its present 22.3 J/th to twenty.5 J/th. Canaan chairman and CEO Nangeng Zhang stated:
“HIVE has been capable of maximize the utilization price of its mining websites, leading to among the highest Bitcoin manufacturing per lively hashrate within the trade.”
“HIVE is a vital accomplice, particularly given their dedication to transparency in enterprise and their sturdy deal with ESG rules,” Zhang continued. Canaan introduced the sale of three,800 Avalon A1566I Immersion Cooling Miners to miner CleanSpark at the start of the month.
Associated: BTC miners are ideally suited power customers, however regulators must catch up — Hive
Hive Digital modifications with the occasions
Hive Digital’s growth to Paraguay was introduced in July. When the Paraguay facility is accomplished, it should have a capability of 100 MW and Hive Digital may have a hash price of 12.5 EH/s and fleet effectivity of 17.6 J/th.
Supply: HIVE Digital Applied sciences
Along with Paraguay, Hive Digital has services in Canada with over 100 MW of capability, and in Sweden and Iceland, the place they’ve 46 MW mixed.
Hive Digital rethought its enterprise mannequin after the Ethereum Merger, when that blockchain transitioned from proof of labor, which Hive Digital had contributed to, to proof of stake. At the moment, Hive Digital repurposed Nvidia graphic processing models (GPUs) for synthetic intelligence. It now operates round 38,000 Nvidia GPUs.
Journal: How Chinese language merchants and miners get round China’s crypto ban