A prominent Bitcoin mining company, listed on NASDAQ, recently revealed its production figures for January while announcing a significant expansion into Paraguay. Despite the challenges facing the cryptocurrency industry, including production declines reported by many mining operations, this company was able to maintain its production levels, remaining consistent with what was achieved at the end of 2024.
In January, the company successfully mined a total of 102 Bitcoins and operated with an average hashrate of 5.7 Exahash per second. By the end of the month, its Bitcoin assets reached 2,657 BTC, valued at approximately $271 million, marking a notable year-over-year increase of 34%.
Efficiency metrics for this period also showcased strong performance, with an average daily production of 3.3 Bitcoins, which translates to about 18 BTC per Exahash. Additionally, the mining fleet exhibited robust performance, achieving peak outputs of 6 EH/s for Bitcoin mining alone and slightly more for Bitcoin-equivalent hashing power.
A spokesperson for the company emphasized their commitment to energy efficiency, targeting an average efficiency of 16.5 Joules per Terahash, which positions them among the most energy-efficient Bitcoin miners on a global scale. The announcement of relocating its headquarters from Vancouver to San Antonio, Texas, reflects a strategic pivot toward the United States market.
While January proved favorable for this mining operation, the broader industry faced challenges in 2025, with many major Bitcoin miners experiencing decreased production. For example, one of the largest companies in the sector reported a 12% drop in monthly output, and another focused on infrastructure developments saw its Bitcoin production decrease significantly.
In light of these industry dynamics, the company’s January production figures stand out, illustrating resilience as others grapple with operational hurdles caused by environmental factors and increasing competition.
Moreover, the company has also been active in expanding its footprint. Recently, it announced plans to acquire a hydro-powered Bitcoin mining facility in Paraguay, which is expected to substantially increase its global mining capacity. This acquisition could potentially raise its Bitcoin mining hashrate to 25 EH/s by September 2025, representing a dramatic 317% surge from current levels.
The expansion effort is characterized as a strategic move to establish one of the largest Bitcoin mining operations in Latin America. By fostering relationships with local political figures, the company aims to create a mutually beneficial environment that supports both its growth and the local economy. The financial projections estimate the net costs to develop the new site at $400,000 per megawatt, leading to an operational capacity expected to reach around 430 MW by the third quarter of 2025.
In a bid to strengthen its leadership structure, the company also appointed a retired Lieutenant General to its Global Strategy Advisory Committee, indicating a commitment to a strategic focus in its operations. Overall, the January performance and forward-looking plans reflect a resilient approach amid industry challenges and an intention to harness opportunities for growth in new regions.