Hive Digital’s $56 million acquisition of a 200 MW hydro-powered mining facility in Paraguay will improve its international Bitcoin mining capability to 25 EH/s by late 2025.
Hive Digital Secures Main Paraguay Enlargement
Hive Digital Applied sciences Ltd. (TSXV: HIVE) has introduced a $56 million acquisition of Bitfarms’ 200-megawatt (MW) hydro-powered Bitcoin mining facility in Yguazú, Paraguay. The acquisition features a 240 MVA substation, land, and current infrastructure, positioning Hive to broaden its whole mining capability to 25 exahash per second (EH/s) by September 2025.
Scaling to 430 MW International Mining Energy
With this acquisition, Hive’s operations in Paraguay will attain 300 MW, complementing its current websites in Canada and Sweden. The corporate’s whole international capability is anticipated to hit 430 MW by Q3 2025.
The Yguazú growth will roll out in two phases:
- Section 1 (80% full) will add 6 EH/s by April 2025.
- Section 2 will contribute one other 6.5 EH/s by August 2025, using hydro-cooled ASIC Bitcoin miners.
Strategic Investments in ASIC Miners and Infrastructure
Hive has secured 15 EH/s price of ASIC miners, together with Bitmain S21+ Hydro and Canaan Avalon fashions, aiming for a fleet effectivity of 16.5 joules per terahash. Further ASIC purchases will observe to achieve the 25 EH/s goal.
The entire growth price is estimated at $400,000 per MW. A separate 100 MW challenge in Paraguay, set to energise by June 2025, will add one other 6.5 EH/s, bringing interim capability to 13 EH/s earlier than full growth.
Monetary Construction of the Deal
Beneath the settlement, Hive can pay:
- $25 million upfront in Q1 2025
- $31 million in six month-to-month installments
- $19 million in energy buy settlement deposits to Paraguay’s utility ANDE
Funding will come from Hive’s money reserves and digital belongings.
Renewable Power and Financial Impression
Hive’s growth aligns with its sustainable mining technique, leveraging Paraguay’s hydroelectric energy whereas boosting native financial growth by utility funds and job creation.
Keep updated on Hive Digital’s growth and its affect on the Bitcoin mining sector. Observe Hive’s bulletins for the most recent developments.
