HIVE Digital Technologies Ltd. has announced achieving a global computing power of 16 Exahash per second (EH/s) in Bitcoin mining. This marks a significant step towards the target of 25 EH/s the company intends to reach by U.S. Thanksgiving.
Reaching 16 EH/s
HIVE Digital Technologies has reported that its global Bitcoin mining hash rate has exceeded 16 EH/s, doubling its daily production of Bitcoin since the beginning of the year. This news confirms the company's successful expansion efforts.
Future Plans and Expansion
According to COO Luke Rossy, the active deployment of infrastructure in Paraguay is supported by new equipment and effective management. HIVE plans to begin Phase 3 deployment in September, aiming to achieve 25 EH/s.
Economics of Bitcoin Mining
The economics of Bitcoin mining are based on clear calculations that allow miners to assess potential Bitcoin production. At the current network difficulty of 129T, one EH generates approximately 0.50 BTC per day, enabling HIVE to forecast further profitability.
HIVE Digital Technologies' achievements in Bitcoin mining underline the importance of scaling infrastructure and effectively managing resources. The company is likely to meet its capacity increase objectives successfully.
