HIVE Digital Technologies Ltd. HIVE shares rallied after Wednesday’s market close after the data center reported that it had reached 2% of global Bitcoin BTC/USD mining capacity. The stock was seen trending at the time of writing.
HIVE is surging to new heights today. Check the fundamentals here.
Significant Efficiency Milestone For HIVE Digital
The stock rose more than 5% in after-hours trading, building on gains from the regular session, when it finished at levels not seen since early December 2024.
The company reported exceeding 20 Exahash per second of global Bitcoin mining capacity following the deployment of Application-Specific Integrated Circuit chips at its Phase 3 facility in Paraguay.
HIVE said mining 9 BTC per day at a global fleet efficiency of 18 Joules per Terahash, accounting for 2% of the Bitcoin network. Mining hardware efficiency is measured in units of Joules per Terahash.
It is expected that the daily production will be approximately 12 BTC following the completion of Phase 3, reflecting an operating efficiency of roughly 17.5 J/TH.
See Also: Bitcoin Creeps Up To $113,000, But Isn’t This Just A Dead Cat Bounce?
Price Action: At the time of writing, BTC was exchanging hands at $112,396.33, up 0.49% in the last 24 hours, according to data from Benzinga Pro.
HIVE shares spiked 5.27% in after-hours trading after closing 8.45% higher at $4.045 during Tuesday’s regular trading session. Year-to-date, the stock has rallied 42%.
Benzinga’s Edge Stock Rankings indicate the stock checks out on Short, Medium and Long-term price trends. Check out the four critical scores to help you identify the strongest and weakest stocks to buy and sell.
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