Bitcoin miner Hive Digital is upgrading its infrastructure because it begins development of amenities in Paraguay, the fourth nation it is going to 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 means 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 means of the primary quarter of 2025. They may enhance Hive Digital’s hash fee 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 predicted to come back on-line in Paraguay, bringing Hive Digital’s hash fee 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 fee of its mining websites, leading to a number of the highest Bitcoin manufacturing per lively hashrate within the business.”
“HIVE is a vital accomplice, particularly given their dedication to transparency in enterprise and their robust concentrate on ESG rules,” Zhang continued. Canaan introduced the sale of three,800 Avalon A1566I Immersion Cooling Miners to miner CleanSpark initially of the month.
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Hive Digital modifications with the instances
Hive Digital’s enlargement to Paraguay was introduced in July. When the Paraguay facility is accomplished, it is going to have a capability of 100 MW and Hive Digital may have a hash fee of 12.5 EH/s and fleet effectivity of 17.6 J/th.
Supply: HIVE Digital Applied sciences
Along with Paraguay, Hive Digital has amenities 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.
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