1. With Bitcoin holding above $ 100,000, how does the BTC Hive growth strategy in particular have the use of BTC on your assessment for ASIC orders-allowed you as a scale without taking debts?
At Hive, we have always believed that Bitcoin is not only a commodity, but a strategic asset. Our hybrid strategy reflects this belief. We have historically kept an important part of the bitcoin that we have undermined, positioning ourselves to benefit from the assessment of long -term prices.
At the same time, we understand the importance of thoughtful strategic growth. Our recent expansion in Paraguay is a perfect example of this balance. By taking advantage of part of our Bitcoin holdings to finance this initiative, with the strategic option to buy the BTC at a price lower than the market value of today, we were able to evolve significantly without assuming debt.
This disciplined and supported growth strategy by Bitcoin allows us to triple our global operational footprint this summer, while maintaining an increase in Bitcoin and avoiding debt. It is a model that we think we can distinguish hive, demonstrating how digital assets can be used not only to preserve value, but also to stimulate a lasting and economical expansion in capital.
2. You have structured ASIC purchases with a buyout option. Can you explain how it works and how it gives Hive a strategic advantage in volatility management?
We strategically used our Bitcoin Hodl as a commitment at $ 87,000, which means that we can buy bitcoin at this price this year. With the Bitcoin trade in the fork of $ 105,000, this means an immediate (if exercised) profit of around $ 20,000 per Bitcoin. Or, if we want to bring back our Bitcoin Hodl to more than 2,000, we can do it, which we would like to do, by buying these bitcoin at $ 87,000. This is an accretive strategy because we can use cash flows from operations (which increases every month, as our hashrate goes from 10 EHS to 18 h, then 25 EHS), to buy bitcoin at these prices. Or, as our scholarship lesson is gathering because Hive is reassessed in several stock market capital over $ 500 million and $ 1 billion, the cost of capital of our equity decreases considerably, we can therefore use our equity to a much higher evaluation to buy bitcoin at this attractive price!
3. Since Hive's planned potential to generate approximately $ 1 million in BTC income per day at 18 EH / S, what is your target of mined BTC – and how long it is if the bitcoin falls below $ 100,000?
Sustainability through all market cycles is an essential part of our strategy. Once our 25 eh / s has been deployed, we will have a global efficiency of fleet of 17.5 d / th. This means that at a bitcoin price of $ 120,000, our gross mining margin is around 60%. In addition, the price of HIVE balance of balance is close to $ 20 per day per day, what it means is that, in terms of current difficulties, Bitcoin could fall to $ 50,000 as low and hive can continue to exploit in a profitable manner. We operate with one of the most skinny teams in industry, maintain the lowest G&A expenses among our peers and are very disciplined with capital allowance. This efficiency maintains our competitive cost structure, which allows us to remain profitable even if Bitcoin drops. We have not seen hashprice lower a lot below $ 40 in this cycle in half, so we expect it to be reduced by half of 2028 before being able to see $ 20 HP, and Hive is positioned to exploit profitability until its current fleet!
4. Hive has just spent 8.3 eh / s and is on the right track to triple this in the fourth quarter of 2025. What key infrastructure or logistics challenges are you confronted when you aim to reach 25 eh / s?
Hive made solid progress, finishing and energizing the first 100 MW phase on our Yguazú site with a mixture of bitmain s21 + -cooled bitmain minors. Phase 2 is on track, with more than 13,400 units already shipped, and the full phase will add 6.5 eh / s, bringing us to 18 h / s.
Then we prepare our Valenzuela site for 100 MW of air -cooled infrastructure, with an accelerated deployment from August to November. This positions us to exceed 25 eh / s and rank among the best world bitcoin minors.
While we are on the right track, we remain cautious. Current global supply chain problems and rates -related trade tensions may have delays. Our team actively manages these risks to ensure us to keep one step in advance on our deployment schedule.
5. Why is Paraguay a focal point for your expansion, and how does this geography help you achieve the efficiency and the scale you target?
Paraguay offers a rare combination of advantages that align perfectly with the Hive strategy. It gives access to an abundant, green and low cost hydroelectric power from the Itaipú dam, the largest in the Western hemisphere. The country is politically stable, has an excess of clean energy and benefits from coherent income labeled in USD, which supports economic reliability.
We have established solid relations at the highest levels of government, including direct engagement with the president, guaranteeing long -term alignment and infrastructure support. This environment allows us to expand effectively while progressing our commitment to the durable and profitable Bitcoin exploitation.
6. With 100 MW live and 200 MW increasingly developing, how do you make sure availability and reliable performance in your hydroelectric data centers in South America?
Hive has always prioritized operational excellence and the availability of industry on all our global sites, and our expansion in Paraguay is no exception. To direct our efforts in the field, we have appointed Gabriel Lamas as president of the Paraguay operations.
Gabriel is an experienced electrician engineer with more than 20 years of experience in large -scale energy and infrastructure projects in Latin America. His leadership has shaped both the digital and energy landscapes in the region, including key roles at Bitfarms and the Paraguay National Service, Ande.
Under its direction, we build world and hydroelectric class data centers by focusing on reliability, network integration and performance. His deep technical knowledge and tested history in the optimization of energy assured us to maintain high hive standards as we play in South America.
7. You position Hive as a world leader in the sustainable hashrate. How quantify and communicate the environmental impact of your operations to stakeholders and regulators?
In Hive, sustainability is not only a value. It is integrated into the way we operate. In Canada, we recycle the heat of our data center in Lachute to supply a 200,000 square feet manufacturing plant, saving hundreds of thousands of dollars per year in heating costs to our partner. This is a clear example of how mining infrastructure can serve wider industrial ecosystems.
In Paraguay, we extend this state of mind to community impact. After meeting the governor of La Cordillera, we are committed to electrifying 18 rural schools which do not currently have access to power. This type of local engagement reflects our belief in doing business in the right way by creating value not only for shareholders but also for communities where we operate.
We communicate these efforts transparently with stakeholders and direct dialogue with regulators, showing that high performance mining can be both efficient and responsible.
8. Is there the intention of applying your hydroelectric model in other geographies-or even joining forces with governments that seek to monetize surplus renewable energies thanks to Bitcoin extraction?
Our immediate goal is to execute our roadmap at 25 eh / s by the end of the year. That said, we see significant potential in the partnership with governments and public services around the world to help monetize surplus renewable energies thanks to the lasting extraction of Bitcoin.
We have proven that our hydroelectric model is working, and we are ready to expand it where it aligns with our strategic values ​​and objectives. So, I would just say: stay listening.
9. Do you see a clean mining as the norm of the industry-or will it remain a competitive advantage for the hive while other minors fight with high energy costs and debt?
Sustainable exploitation has been at the heart of Hive ethics from the first day. It leads to how and where we grow, pushing us to be very selective in the choice of places with access to clean and low cost energy.
It remains to be seen if it becomes the standard of industry, but for the moment, it continues to be a clear competitive advantage. As many minors face the increase in energy costs and debt charges, our early commitment to green energy gives us operational stability and profitability that others now run to reproduce.
10. What are your prospects for Bitcoin operating margins in the next 12 to 18 months, in particular with upcoming hassles, fluctuations in energy prices and the potential volatility of FNB prices?
We believe that the real bull market for minors has not yet arrived. A hash price supported in the range of $ 80 to $ 120 per Petahash per day would reflect real force. We are currently about $ 55, so there is a significant increase potential.
Our goal remains on operational excellence and cost discipline. With energy volatility and macro uncertainty, staying meager and effective is more important than ever. While we go to 25 eh / s, our goal is to rebuild our Hodl to more than 2,000 bitcoin. This long -term exposure, twinned by low -cost and own energy operations, positions the hive to prosper in all market conditions.
