HIVE Digital Technologies Ltd. reported that its Bitcoin mining operations produced 297 BTC in January 2026, a 191 % increase over the 102 BTC mined in January 2025. The company’s global hashrate averaged 22.2 exahash per second (EH/s) and peaked at 23.7 EH/s, up 290 % from the 5.7 EH/s recorded in January 2025.
The company installed 2,667 new Bitmain S21 XP ASIC miners at its Yguazú facility in Paraguay, a move that is expected to lift HIVE’s total hashrate to 25.5 EH/s. The new hardware improves fleet efficiency to 17 joules per terahash (J/TH), down from 22 J/TH in January 2025, and is projected to reduce the cost of producing a Bitcoin to below $42,000, a significant improvement over the $55,000–$60,000 range seen in the previous year.
HIVE’s January 2026 results also reinforce its market‑share position. The company now controls just over 2 % of the global Bitcoin network hashrate, up from 1.5 % in January 2025, and its production growth outpaces the broader industry, which saw a 12 % increase in total network hashrate during the same period.
Financially, the company’s mining revenue for January 2026 was $45.6 million, matching the Q1 FY2026 mining revenue and reflecting a 3 % year‑over‑year increase. The overall company revenue for the quarter was $115.3 million, with the high‑performance computing (HPC) segment contributing $20 million, up 15 % from the previous quarter, indicating healthy diversification beyond mining.
Executive Chairman Frank Holmes said the results demonstrate “disciplined execution” and the benefits of economies of scale, while President and CEO Aydin Kilic highlighted the role of renewable energy and efficient hardware in driving the gains and positioning HIVE for future AI and HPC opportunities.
Analysts noted the strong operational gains but raised questions about the company’s ability to sustain growth amid rising mining difficulty and cash burn, underscoring the need for continued cost discipline and strategic investment balance.
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