HIVE Digital Technologies (HIVE) said it hit 23 exahashes per second (EH/s) of bitcoin (BTC) mining capacity as it ramps up production to generate income that will fund expansion of its artificial intelligence (AI) computing infrastructure.

The hashrate represents 283% growth this year and is on track to reach 25 EH/s before the end of the month, the company said on its website. The increase is powered by full hardware deployment at its 100 megawatt (MW) hydroelectric campus in Paraguay, which is energized by the Itaipú Dam. HIVE reached 10 EH/s of mining capacity back in May.

At the same time, HIVE is converting parts of its bitcoin mining footprint into liquid-cooled, AI-ready data centers. A recent land acquisition in Grand Falls, New Brunswick, could support 25,000 GPUs alone, as the company transitions the site to high-performance computing (HPC) standards.

These facilities can stay online during maintenance and are built for businesses that require constant uptime, like AI cloud platforms and financial services. Additional facilities in Toronto and Sweden will bring the company’s projected GPU total to 36,000 by the end of 2026, up from about 5,000 today, the firm said.

As demand for compute-intensive AI workloads grows, the company is betting that its renewable-powered, already-built facilities give it a cost and speed advantage over ground-up builds.

HIVE currently holds around 2,201 BTC in its treasury, making it the 34th-largest digital asset treasury firm, according to Bitcointreasuries data.

The company’s shares fell 2.9 in pre-market trading Monday.

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