CoinDesk Podcast Network THE MINING POD: Hive’s 25 EH Plan and Paraguay Expansion w/ Aydin Kilic
Jul 29, 2025
Aydin Kilic, CEO of Hive Blockchain, shares exciting news about their ambitious plan to scale to 25 EH/s by year-end, focusing on the new Paraguay expansion using hydro-powered technology. He discusses their unique ATM funding strategy and how the company manages to thrive even in bear markets. The conversation also touches on financial insights and projected profitability, including a $500M mining margin target. Kilic dives into their strategic partnerships and the industry's potential with innovations like Fractal Bitcoin.
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Unit Economics Over Scale
- Hive's mining approach prioritizes unit economics over mere scale and focuses on energy efficiency per terahash.
- The company survived bear markets by adapting to changes like the Ethereum merge and managing cost per kilowatt-hour effectively.
Paraguay Site Acquisition Story
- Aydin Kilic shares his experience visiting and assessing the Bitfarms Paraguay site, leading to its acquisition.
- He emphasizes engagement with local government and community projects to ensure smooth operations and growth.
Hydro Miners Boost Efficiency
- Deploying new hydro-powered Bitmain miners significantly improves Hive's energy efficiency and lowers Bitcoin break-even costs.
- Phase two expansions with hydro miners will contribute to reaching 25 EH/s and improve gross mining margins to around 55%.