Hive Digital Technologies Frank Holmes discusses mining efficiency milestone – ICYMI [Video]

HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE) executive chairman Frank Holmes joined Proactive to discuss the Bitcoin miner’s recent efficiency achievement of 6 exahash per second.

Looking ahead to 2025, Hive aims to reach 15 exahash per second with in six months, targeting 2% of the global Bitcoin network hash rate.

Proactive: Hello, you’re watching Proactive. I’m joined by HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE) executive chairman, Frank Holmes. Frank, very happy New Year to you. You’ve entered 2024 with a new milestone, achieving six exahashes per second, a 47% increase from December 2023. How did you do it?

Frank Holmes: Happy New Year and happy New Year to all of our shareholders at Hive! We hit that six exahash, and it involved a lot of work upgrading machines. The key was obtaining more efficient machines—those that consume less electricity to produce a Bitcoin. We’ve retired older machines that had been fully expensed and replaced them with new ones. This has improved both …