HIVE Digital orders new advanced Bitcoin miners and begins construction of a 100 MW facility in Paraguay.
The expansion will increase the company's BTC mining capacity from the current 5.6 EH/s to 12.5 EH/s by Q3 2025.
The publicly
listed Bitcoin miner from Wall Street, HIVE Digital Technologies Ltd (NASDAQ: HIVE),
is significantly expanding its BTC production capabilities through a
substantial order of next-generation mining equipment and the development of a
new facility in Paraguay. It marks the company’s push to boost operational
capacity amid evolving market conditions, including record-high hashrate and
mining difficulty.
Wall Street Bitcoin Miner HIVE
Digital Expands Mining Operations with Major ASIC Order
The
Vancouver-based crypto mining company announced the purchase of 6,500 Canaan
Avalon A1566 ASIC miners, with the initial deployment of 500 units scheduled
this week. The remaining 6,000 miners will be delivered in monthly installments
between December 2024 and March 2025.
“We want to
express our sincere gratitude to HIVE for choosing Canaan’s mining solutions
for their operations,” said Nangeng Zhang, Chairman and CEO of Canaan. “Securing
a significant order is always rewarding, but it holds particular meaning when
it comes from HIVE—a long-standing customer and a pioneer in Bitcoin mining.”
Frank Holmes, Executive Chairman of HIVE
The new
Avalon A1566 miners, operating at 185 TH/s with 16.5 J/TH efficiency, represent
a significant upgrade from HIVE's existing equipment. This enhancement is
expected to increase the company's total mining capacity to 6 EH/s by March
2025, while improving fleet efficiency from 22.3 J/TH to 20.5 J/TH.
“Our
disciplined capital management allows us to seize opportunities for ASIC
upgrades, boosting efficiency and adding accretive value while building our
Bitcoin HODL,” commented Frank Holmes, Executive Chairman.
HIVE Targets Paraguay for
100 MW Green Mining Facility
Simultaneously,
HIVE has broken ground on a 100-megawatt facility in Paraguay. The company
expects to bring 30 MW online by early Q2 2025, supporting approximately 2 EH/s
of mining capacity. The full facility completion is targeted for Q3 2025,
potentially pushing HIVE's total hashrate to 12.5 EH/s.
“With
construction underway for our 100 MW green energy facility in Paraguay, we are
using cash flow from operations to drive growth and capitalize on our position
as both a Bitcoin proxy and an operational business. HIVE is committed to
accretive investments that elevate shareholder value and cash flow,” added
Holmes.
In the
second quarter of 2024, HIVE reported revenues totaling $32.2 million, with
$29.6 million generated from digital currency mining and $2.6 million from HPC
operations. The company achieved an adjusted EBITDA of $14.9 million and a net
income of $4.2 million before tax.
The April
2024 Bitcoin halving, which reduced mining rewards by half, has impacted
production levels across the industry. During this quarter, HIVE mined 449
Bitcoins, a decrease from 658 in the previous quarter. In comparison,
competitor Riot Platforms produced 370 Bitcoins in July alone.
The publicly
listed Bitcoin miner from Wall Street, HIVE Digital Technologies Ltd (NASDAQ: HIVE),
is significantly expanding its BTC production capabilities through a
substantial order of next-generation mining equipment and the development of a
new facility in Paraguay. It marks the company’s push to boost operational
capacity amid evolving market conditions, including record-high hashrate and
mining difficulty.
Wall Street Bitcoin Miner HIVE
Digital Expands Mining Operations with Major ASIC Order
The
Vancouver-based crypto mining company announced the purchase of 6,500 Canaan
Avalon A1566 ASIC miners, with the initial deployment of 500 units scheduled
this week. The remaining 6,000 miners will be delivered in monthly installments
between December 2024 and March 2025.
“We want to
express our sincere gratitude to HIVE for choosing Canaan’s mining solutions
for their operations,” said Nangeng Zhang, Chairman and CEO of Canaan. “Securing
a significant order is always rewarding, but it holds particular meaning when
it comes from HIVE—a long-standing customer and a pioneer in Bitcoin mining.”
Frank Holmes, Executive Chairman of HIVE
The new
Avalon A1566 miners, operating at 185 TH/s with 16.5 J/TH efficiency, represent
a significant upgrade from HIVE's existing equipment. This enhancement is
expected to increase the company's total mining capacity to 6 EH/s by March
2025, while improving fleet efficiency from 22.3 J/TH to 20.5 J/TH.
“Our
disciplined capital management allows us to seize opportunities for ASIC
upgrades, boosting efficiency and adding accretive value while building our
Bitcoin HODL,” commented Frank Holmes, Executive Chairman.
HIVE Targets Paraguay for
100 MW Green Mining Facility
Simultaneously,
HIVE has broken ground on a 100-megawatt facility in Paraguay. The company
expects to bring 30 MW online by early Q2 2025, supporting approximately 2 EH/s
of mining capacity. The full facility completion is targeted for Q3 2025,
potentially pushing HIVE's total hashrate to 12.5 EH/s.
“With
construction underway for our 100 MW green energy facility in Paraguay, we are
using cash flow from operations to drive growth and capitalize on our position
as both a Bitcoin proxy and an operational business. HIVE is committed to
accretive investments that elevate shareholder value and cash flow,” added
Holmes.
In the
second quarter of 2024, HIVE reported revenues totaling $32.2 million, with
$29.6 million generated from digital currency mining and $2.6 million from HPC
operations. The company achieved an adjusted EBITDA of $14.9 million and a net
income of $4.2 million before tax.
The April
2024 Bitcoin halving, which reduced mining rewards by half, has impacted
production levels across the industry. During this quarter, HIVE mined 449
Bitcoins, a decrease from 658 in the previous quarter. In comparison,
competitor Riot Platforms produced 370 Bitcoins in July alone.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Retail Investors Tap Trillion-Dollar Reinsurance Markets via Tokenized DeFi Platforms
Marketing in 2026 Audiences, Costs, and Smarter AI
Marketing in 2026 Audiences, Costs, and Smarter AI
As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
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As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
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🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Much like their traders in the market, brokers must diversify to manage risk and stay resilient. But that can get costly, clunky, and lengthy.
This candid panel brings together builders across the trading infrastructure space to uncover the shifting dynamics behind tools, interfaces, and full-stack ambitions.
Attendees will hear:
-Why platform dependency has become one of the most overlooked risks in the trading business?
-Buy vs. build: What do hybrid models look like, and why are industry graveyards filled with failed ‘killer apps’?
-How AI is already changing execution, risk, and reporting—and what’s next?
-Which features, assets, and tools gain the most traction, and where brokers should look for tech-driven retention?
Speakers:
-Stephen Miles, Chief Revenue Officer at FYNXT
-John Morris, Co-Founder at FXBlue
-Matthew Smith, Group Chair & CEO at EC Markets
-Tom Higgins, Founder & CEO at Gold-i
-Gil Ben Hur, Founder at 5% Group
#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Much like their traders in the market, brokers must diversify to manage risk and stay resilient. But that can get costly, clunky, and lengthy.
This candid panel brings together builders across the trading infrastructure space to uncover the shifting dynamics behind tools, interfaces, and full-stack ambitions.
Attendees will hear:
-Why platform dependency has become one of the most overlooked risks in the trading business?
-Buy vs. build: What do hybrid models look like, and why are industry graveyards filled with failed ‘killer apps’?
-How AI is already changing execution, risk, and reporting—and what’s next?
-Which features, assets, and tools gain the most traction, and where brokers should look for tech-driven retention?
Speakers:
-Stephen Miles, Chief Revenue Officer at FYNXT
-John Morris, Co-Founder at FXBlue
-Matthew Smith, Group Chair & CEO at EC Markets
-Tom Higgins, Founder & CEO at Gold-i
-Gil Ben Hur, Founder at 5% Group
#fmls #fmls25 #fmevents #Brokers #Trading #Fintech #FintechInnovation #TradingTechnology #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Educators, IBs, And Other Regional Growth Drivers
Educators, IBs, And Other Regional Growth Drivers
When acquisition costs rise and AI generated reviews are exactly as useful as they sound, performing and fair partners can make or break brokers.
This session looks at how these players are shaping access, trust and user engagement, and what the most effective partnership models look like in 2025.
Key Themes:
- Building trader communities through education and local expertise
- Aligning broker incentives with long-term regional strategies
- Regional regulation and the realities of compliant acquisition
- What’s next for performance-driven partnerships in online trading
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Zander Van Der Merwe, Key Individual & Head of Sales at TD Markets
-Brunno Huertas, Regional Manager – Latin America at Tickmill
-Paul Chalmers, CEO at UK Trading Academy
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #BrokerGrowth #FintechPartnerships #RegionalMarkets
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
When acquisition costs rise and AI generated reviews are exactly as useful as they sound, performing and fair partners can make or break brokers.
This session looks at how these players are shaping access, trust and user engagement, and what the most effective partnership models look like in 2025.
Key Themes:
- Building trader communities through education and local expertise
- Aligning broker incentives with long-term regional strategies
- Regional regulation and the realities of compliant acquisition
- What’s next for performance-driven partnerships in online trading
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Zander Van Der Merwe, Key Individual & Head of Sales at TD Markets
-Brunno Huertas, Regional Manager – Latin America at Tickmill
-Paul Chalmers, CEO at UK Trading Academy
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #BrokerGrowth #FintechPartnerships #RegionalMarkets
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
The Leap to Everything App: Are Brokers There Yet?
The Leap to Everything App: Are Brokers There Yet?
As the arms race to bundle investing, personal finance, and wallets under super apps grows fiercer, brokers are caught between a rock and a hard place.
This session explores unexpected ways for industry players to collaborate as consumer habits evolve, competitors eye the traffic, and regulation becomes more nuanced.
Speakers:
-Laura McCracken,CEO | Advisory Board Member at Blackheath Advisors | The Payments Association
-Slobodan Manojlović,Vice President | Lead Software Engineer at JP Morgan Chase & Co.
-Jordan Sinclair, President at Robinhood UK
-Simon Pelletier, Head of Product at Yuh
Gerald Perez, CEO at Interactive Brokers UK
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As the arms race to bundle investing, personal finance, and wallets under super apps grows fiercer, brokers are caught between a rock and a hard place.
This session explores unexpected ways for industry players to collaborate as consumer habits evolve, competitors eye the traffic, and regulation becomes more nuanced.
Speakers:
-Laura McCracken,CEO | Advisory Board Member at Blackheath Advisors | The Payments Association
-Slobodan Manojlović,Vice President | Lead Software Engineer at JP Morgan Chase & Co.
-Jordan Sinclair, President at Robinhood UK
-Simon Pelletier, Head of Product at Yuh
Gerald Perez, CEO at Interactive Brokers UK
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
Mind The Gap: Can Retail Investors Save the UK Stock Market?
Mind The Gap: Can Retail Investors Save the UK Stock Market?
As the dire state of listing and investment in the UK goes from a financial services problem to a national challenge, the retail investing industry is taken to task.
Join a host of executives and experts for a candid conversation about the future of millions of Brits, as seen from a financial services standpoint:
-Are they happy with the Leeds Reform, in principle and in practice?
-Is it the government’s job to affect the ‘saver’ mentality? Is it doing well?
-What can brokers and fintechs do to spur UK investment?
-How can the FCA balance greater flexibility with consumer protection?
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Nicola Higgs, Partner at Latham & Watkins
-Dan Lane, Investment Content Lead at Robinhood UK
-Jack Crone, PR & Public Affairs Lead at IG
-David Belle, Founder at Fink Money
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As the dire state of listing and investment in the UK goes from a financial services problem to a national challenge, the retail investing industry is taken to task.
Join a host of executives and experts for a candid conversation about the future of millions of Brits, as seen from a financial services standpoint:
-Are they happy with the Leeds Reform, in principle and in practice?
-Is it the government’s job to affect the ‘saver’ mentality? Is it doing well?
-What can brokers and fintechs do to spur UK investment?
-How can the FCA balance greater flexibility with consumer protection?
Speakers:
-Adam Button, Chief Currency Analyst at investingLive
-Nicola Higgs, Partner at Latham & Watkins
-Dan Lane, Investment Content Lead at Robinhood UK
-Jack Crone, PR & Public Affairs Lead at IG
-David Belle, Founder at Fink Money
#fmls #fmls25 #fmevents #Brokers #FinanceLeadership #Trading #Fintech #RetailInvesting #UKFinance
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
