Hive Digital spends over $60 million to buy 13,480 Bitmain mining machines

Odaily Planet Daily Report: Canadian bitcoin mining company Hive Digital announced on Tuesday that it has invested over $60 million to purchase 13,480 Bitmain Antminer S21+ Hydros mining rigs to expand its operations in Paraguay. These mining rigs can provide 4.3 EH/s of computing power. The company also obtained an option to purchase an additional 4.3 EH/s of the same product, which can be exercised within one year. If the option is fully exercised, Hive's mining computing power can be expanded to 8.6 EH/s, and it plans to reach 15 EH/s by the summer of 2025. Executive Chairman Frank Holmes stated that once fully deployed, the expansion to 15 EH/s will "drive Hive's annual revenue to over $300 million and generate over $200 million in mining profits, based on current mining economics." (Decrypt)