A Canadian cryptocurrency mining company has announced significant expansion in its Bitcoin mining capacity while developing artificial intelligence and high-performance computing infrastructure across North and South America.
Hive Digital Technologies reported that it reached 23 exahash per second in global Bitcoin mining capacity, reflecting 283% year-to-date growth that positions the firm amongst industry leaders in 2025.

The multinational digital infrastructure company also announced that it had completed a C$2.3 million (£1.3 million) strategic land acquisition in Grand Falls, New Brunswick, adding 32.5 acres next to the company's existing 6-acre property acquired in April 2021.

Hive said the expanded site lays the foundation for its first Tier III+ AI and high-performance computing data centre in Atlantic Canada, making the facility a cornerstone for development with the ability to scale up to more than 25,000 next-generation graphics processing units.
"We're turbocharging, not just adapting, a double-engine data-centre machine, seamlessly building and upgrading Tier I and Tier III+ HPC facilities to unleash the most powerful GPU chips for AI workloads," Aydin Kilic, chief executive of Hive Digital Technologies, said in a statement.

"With 23 EH/s already secured, we generate robust cash flows today while scaling green HPC tomorrow in Canada and Paraguay. This positions Hive as the go-to partner for the compute demands of this era."

The company noted that all application-specific integrated circuits (ASICs) and hydro-cooling containers are now deployed at its third 100-megawatt green campus in Valenzuela, Paraguay, powered by the Itaipú Dam—the Western Hemisphere's largest hydroelectric facility.
With commissioning under way, Hive expects to reach 25 exahash per second by American Thanksgiving, targeting 17.5 joules per terahash efficiency and meeting its full 2025 hashrate goals on schedule.

The company also issued 30,174,046 Hive common shares in the three months ended 30 September 2025, pursuant to at-the-market offerings begun in October 2024 and continued in May of 2025, raising gross proceeds of C$100.2 million, or £57 million.
The announcement sent shares of Hive higher by more than 5% to trade at around $5.50 before the opening bell on Monday.

A double strategy of maintaining the operations of Bitcoin mining and developing AI computing infrastructure reflects broader industry trends, where cryptocurrency miners are diversifying revenue streams amid the price volatility and increasing mining difficulty of Bitcoin.
Similar to AI applications, high-performance computing requires significant infrastructure: a lot of electrical power, cooling systems, and high-density computing equipment. Indeed, this partially creates an easy opportunity for cryptocurrency miners to start working on AI workloads with existing facilities and operational expertise.

By focusing on renewable energy sources, especially hydroelectric power coming from the Itaipú Dam in Paraguay, Hive meets growing concerns about the environmental impact of cryptocurrency mining and could be appealing to AI companies under increased scrutiny for energy consumption.
This Canadian expansion from New Brunswick places the company in a position to serve a growing number of AI customers seeking North American data centre locations with reliable power supplies and favorable regulatory environments. Atlantic Canada offers cooler climates, which reduce cooling costs—a major operational expense for high-density computing facilities.

Whether Hive will make a successful transition from being mainly a cryptocurrency mining company to a significant player in AI infrastructure remains to be seen. The AI computing market is highly competitive, with many established cloud providers and a multitude of startups, while cryptocurrency miners making similar pivots raise questions over their technical capabilities and customer relationships outside of the crypto world.

This large issuance of over C$100 million in shares brings capital into infrastructure development and dilutes existing shareholders. The question will be whether, in fact, successful execution and market demand materialize to justify the investment in AI infrastructure.

Profitability in Bitcoin mining can be volatile along with cryptocurrency prices, mining difficulty, and energy costs. Hive's strategy of maintaining mining operations while developing alternative revenue streams aims to de-risk dependence on the volatility of Bitcoin; it does, however, create execution risks associated with running multiple models concurrently.