HIVE Digital Technologies Exceeds 22 EH/s, Expedites AI Cloud Expansion in Sweden Through Tier-1 to Tier-3 Data Center Conversion

HIVE Digital Technologies (NASDAQ:HIVE) is making significant strides in both Bitcoin mining and AI cloud computing, announcing it has exceeded 22 EH/s in global Bitcoin-mining capacity. This marks a substantial 267% year-to-date increase, demonstrating the company’s aggressive expansion in the digital asset space. Currently, HIVE is producing 9.5 BTC per day, boasting a fleet efficiency of approximately 17.8 J/TH and a reported 55% mining margin at a $47 Hashprice. These figures underscore the company’s operational effectiveness and strategic investments in renewable energy sources.

HIVE is strategically repurposing existing infrastructure to accelerate its entry into the AI cloud market. The company is converting a Tier-1 data center in Boden, Sweden, into a Tier-3 liquid-cooled HPC facility to house 2,000 NVIDIA GPUs. This conversion strategy is projected to provide a faster return on investment, with an estimated cash-flow path of around 9 months compared to the 3-year timeline for a greenfield project. HIVE anticipates operating approximately 6,000 GPUs by 2026, positioning itself to capitalize on the growing demand for AI computing power.

HIVE aims to reach 25 EH/s by late 2025 and 35 EH/s in 2026. Achieving these ambitious targets will hinge on the successful deployment of additional ASIC miners. The company’s expansion strategy is underpinned by a commitment to renewable energy, with facilities powered by hydroelectric sources. This not only reduces operational costs but also aligns with the growing emphasis on sustainable computing practices.

Positive

* 22 EH/s global Bitcoin-mining capacity (267% YTD)
* Current production of 9.5 BTC/day
* Fleet efficiency of ~17.8 J/TH
* 55% mining margin at $47 Hashprice (power assumed $0.05/kWh)
* Targeting 25 EH/s by late 2025 and 35 EH/s in 2026
* Planned 6,000 GPUs global AI capacity by 2026 (2,000 in Boden)

Negative

* Projections rely on market sentiment as of September 2025
* ARR disclosed is non-GAAP and does not represent profitability
* Target capacity increases depend on additional ASIC miners coming online

HIVE reports material capacity and AI‑cloud expansion, showing funded mining growth and faster HPC conversion plans in Sweden.

HIVE’s announcement documents a clear capacity increase to 22 EH/s and cites 267% year‑to‑date growth; current production of 9.5 Bitcoin per day and fleet efficiency near 17.8 J/TH accompany a stated mining margin of 55% at a $47 Hashprice. The release also confirms delivered, funded hardware for the Paraguay campus and near‑term ASIC additions that management expects will reach 25 EH/s by U.S. Thanksgiving. These facts point to tangible, revenue‑related scaling in core mining operations rather than aspirational statements.

The company pairs mining scale with a conversion strategy in Europe, rebuilding a Tier‑1 site in Boden into a Tier‑3 liquid‑cooled HPC facility to host 2,000 NVIDIA GPUs; construction begins this quarter. The conversion claim frames a faster path to cash flow—reported as ~9 months versus multi‑year greenfield builds—and management ties GPU capacity to an expected ~6,000 GPUs across the global pipeline by 2026. The update also lists concrete capacity sites in Toronto and New Brunswick and a colocation partnership with Bell Canada, which supports near‑term deployability.

Key dependencies and risks are explicit in the text: delivered hardware and fixed‑rate hydro power underpin the Paraguay economics, while EH/s growth is stated as material to revenue and cash flow. The announcement uses non‑GAAP metrics and models ARR and mining margin with assumptions (for example an assumed USD 0.05 per kWh power cost) that require reader verification in financial filings. Monitor the following items over the coming quarters: achievement of 25 EH/s by late 2025, validation of the Tier‑3 Boden conversion timeline and GPU commissioning, and published GAAP financials that reconcile the non‑GAAP ARR and margin claims; expect updates by the end of the fiscal quarter and through 2026 as capacity comes online.