HIVE Digital Technologies Surges on Robust December Production and Strategic Expansion
HIVE Digital Technologies Ltd. has reported a powerful conclusion to 2025, with December production figures showcasing significant year-over-year growth and operational efficiency. The company mined 306 Bitcoin in December, a remarkable 197% increase compared to the 103 BTC produced in the same month of 2024. This surge was achieved despite a 40% rise in Bitcoin mining difficulty, underscoring HIVE’s enhanced operational capabilities and fleet optimization.
The average daily production for December hit 9.9 BTC, supported by an average hashrate of 23.3 EH/s, reaching a peak of 24 EH/s. Crucially, the company maintained a fleet efficiency of 17.5 Joules per Terahash, indicating a significant improvement in energy consumption relative to its hashing power. This efficiency metric is a key indicator for investors, directly impacting operational costs and profitability in a capital-intensive industry.
For the full year 2025, HIVE mined a total of 2,311 BTC, marking a 31% increase over the previous year. This achievement is particularly noteworthy given the impact of the Bitcoin halving event and a substantial 46% year-over-year increase in average network difficulty throughout 2025. HIVE continues to maintain a dominant presence, accounting for over 2% of the global Bitcoin network’s hash power.
Looking ahead, HIVE has announced ambitious expansion plans, intending to add 100 MW of hydroelectric-powered data center capacity at its Yguazú campus in Paraguay. Commissioning of this new capacity is slated for the third quarter of 2026. This move is expected to bolster HIVE’s renewable energy footprint to approximately 540 MW, with 400 MW located in Paraguay and the remaining 140 MW distributed across Canada and Sweden. This strategic focus on renewable energy not only aligns with growing environmental, social, and governance (ESG) mandates but also provides a long-term cost advantage in power-intensive operations.
Management commentary highlighted the strategic importance of Bitcoin as “bundled, portable energy” and the company’s commitment to disciplined execution. The dual-engine approach, combining Bitcoin mining with high-performance computing (HPC) for AI applications, positions HIVE to capitalize on burgeoning demand for computational power while leveraging its green energy infrastructure. The company emphasizes its decentralized operating model across multiple geographies as a key factor in maintaining operational resilience and uptime, particularly in the face of intermittent weather events impacting operations in the Northern Hemisphere.
The expanded capacity in Paraguay will be developed under a strict return-on-invested-capital (ROIC) framework, aiming to optimize free cash flow generation. This disciplined approach to capital deployment is critical for investors seeking sustainable growth and profitability.
HIVE’s operational strategy appears to be gaining traction. The company’s ability to consistently increase production and efficiency, even amidst challenging market conditions like rising network difficulty and the Bitcoin halving, signals strong execution. The ongoing expansion into renewable energy sources further solidifies its competitive position and appeal to environmentally conscious investors. As the digital asset landscape continues to evolve, HIVE’s diversified infrastructure and focus on sustainable operations place it in a compelling position for future growth.
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