According to Deep Tide TechFlow, on December 4, Nasdaq-listed Bitcoin mining company Hive Digital announced the purchase of 13,480 new mining machines to expand its operations in South American countries. The deal, priced over $60 million, will help secure a 2% share of the global Bitcoin network. These mining machines—Bitmain Antminer S21+ Hydros—have a hash rate of 4.3 exahash (EH/s) per second.
The company also obtained the option to purchase 4.3 EH/s of the same model mining machines, which can be exercised within a year. If the option is fully exercised, Hive's mining fleet will expand to 8.6 EH/s, with hopes to reach a mining hash rate of 15 EH/s by the summer of 2025.
Executive Chairman Frank Holmes stated that once fully deployed, Hive's mining capacity will expand to 15 EH/s, and 'based on the current mining economic conditions, this will drive Hive's annual revenue over $300 million, with mining profit margins exceeding $200 million.'
