Hive Digital, one of the world’s largest Bitcoin (BTC) miners, has revealed ambitious plans to significantly expand its operations in Paraguay. This expansion aims to boost the company’s operational capacity by a staggering 400%, taking full advantage of the country’s hydroelectric energy surplus from the Itaipu Dam.
As part of this move, Hive will acquire a 200 MW Bitcoin mining facility in Yguazú from Bitfarms for $56 million. This facility is expected to add 6 EH/s to Hive’s mining capacity by Q2 2025, with a target to reach a global total of 25 EH/s by September 2025.
Paraguay has become a strategic location for Hive due to its untapped energy, which can be sold to Bitcoin mining companies in exchange for US dollars. This provides a win-win for both the Paraguayan government, which benefits economically, and for local infrastructure development.
However, the recent increase in electricity tariffs by the Paraguayan government has led some mining companies to reconsider their operations in the country. Despite this, Hive remains confident that the country’s stable fiscal and regulatory environment will support its ongoing expansion.
Through this move, Hive Digital not only strengthens its position in the Bitcoin mining industry but also pioneers a new model of efficiency for the sector.
Source: Akademi Crypto
