HIVE Digital Energizes Paraguay Site With Major Bitcoin Mining Expansion

On Monday, HIVE Digital Technologies Ltd (NASDAQ:HIVE) disclosed that it completed Phase 1 of infrastructure development at its flagship Yguazù facility in Paraguay.

This phase includes a 100-megawatt air-cooled data center supported by a fully operational 200-megawatt substation.

Additionally, the company has appointed Carlos Anibal Torres as its new Operations & Project Manager for Paraguay, a strategic leadership addition as HIVE ramps up growth efforts in the region.

HIVE has finalized the construction and energization of the 100 MW Phase 1 infrastructure at its Yguazù facility, enabling support for up to 5 exahashes per second (EH/s) of next-gen ASIC mining capacity.

Currently, the company is running 200 petahashes of hashrate at the location using its proprietary BUZZ Miners, with plans to have 8,000 units operational by the end of April.

The site has started receiving shipments of advanced ASIC miners, including Bitmain S21+ units, with more than 20,000 expected to arrive by the end of May.

HIVE aims to reach 5 EH/s in Paraguay and a combined total of 11.5 EH/s across all its operations by the close of the second quarter of 2025.

Luke Rossy, Chief Operating Officer of HIVE, said, “We are executing with conviction. We aim to reach 25 EH/s by Fall 2025, producing over 12 Bitcoins daily at current difficulty levels. With our Paraguay site energized and racking underway, HIVE is positioned for a transformative year of growth.”

Aydin Kilic, President & CEO of HIVE, added, “As of March 31, we secured deposits for 4.3 EH/s of Bitmain S21+ miners, funded through disciplined treasury management.”

In January, the company disclosed that it achieved an operational hashrate of 6.0 Exahashes per second (EH/s), a 47% increase from 4.08 EH/s as of December 31, 2023.

The company plans to expand its global hashrate capacity to 15 EH/s by the end of 2025, achieving a fleet efficiency of 17 joules per terahash (J/TH) through the deployment of its 100 MW hydroelectric-powered expansion in Paraguay.

Price Action: HIVE shares are up 1.34% at $1.51 premarket at the last check Monday.

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