HIVE Digital Technologies Ltd. (NASDAQ: HIVE) has surpassed 23 exahash per second (EH/s) in global Bitcoin (BTC) mining capacity, while securing additional land in Grand Falls, New Brunswick, to expand its high-performance computing (HPC) and artificial intelligence (AI) infrastructure. The company said this achievement marks a 283% year-to-date growth in its hashrate capacity.

The 32.5-acre acquisition in Grand Falls, adjacent to HIVE’s existing site, will serve as the foundation for a Tier III+ HPC data center capable of hosting more than 25,000 next-generation GPUs. The facility will leverage renewable hydroelectric energy and aims to meet growing demand from hyperscalers and enterprise clients seeking sustainable AI infrastructure.

“The AI super cycle is upon us,” said Frank Holmes, HIVE’s co-founder and executive chairman.

“HIVE is repurposing stranded renewable energy for digital infrastructure and fast-tracking the transition from Bitcoin mining to Tier III+ HPC data centers. Our HPC subsidiary, BUZZ HPC, plans to support more than 30,000 GPUs for AI cloud workloads.”

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Aydin Kilic, HIVE’s president and CEO, noted that the company’s experience in Bitcoin mining gives it a strategic advantage in building and scaling energy-efficient data centers.

“We’re turbocharging a double-engine model—using Bitcoin mining to generate cash flow while expanding green HPC in Canada and Paraguay,” Kilic said.

The company’s Valenzuela facility in Paraguay, powered by the Itaipú Dam, has now deployed all ASICs and hydro-cooling containers across a 100 MW campus. HIVE expects to reach 25 EH/s by late November with an average efficiency of 17.5 joules per terahash (J/TH).

Beyond Paraguay, HIVE is converting its Boden, Sweden facility into a liquid-cooled Tier III+ HPC hub with capacity for 2,000 GPUs. A Toronto expansion, alongside a Bell colocation deal, adds another 4,000 GPUs by 2026. Combined, these projects could give HIVE roughly 36,000 GPUs across its network.

Related: How bitcoin's hashrate impacts mining profitability and market prices

HIVE expands green infrastructure

HIVE Digital Technologies reached a record 21 EH/s in global Bitcoin-mining capacity, producing 267 BTC in September, an 8% month-over-month and 138% year-over-year increase.

Later, on Oct. 21, the company also announced a 100 megawatt hydroelectric expansion in Paraguay, reinforcing its commitment to renewable-powered operations and positioning it for its next target of 35 EH/s by 2026.

Story Continues

The company’s use of existing energy assets for Tier III+ data centers is expected to reduce build times and capital costs, enabling faster revenue conversion while maintaining its green-energy foundation across Canada, Sweden, and Paraguay.

This story was originally reported by TheStreet on Nov 3, 2025, where it first appeared in the Business News section. Add TheStreet as a Preferred Source by clicking here.

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