Mining company HIVE Digital plans to build a large mining farm in Paraguay. The new facility, with a capacity of 100 MW, will use environmentally friendly energy from the Itaipu hydroelectric power plant. This is a significant expansion for the company, known for its Bitcoin mining projects in Canada, Iceland, and Sweden.

Frank Holmes, Executive Chairman of HIVE Digital, noted that they are excited to announce a 100 MW project in Paraguay, which will utilize clean energy from the Itaipu Dam. This project will add up to 6.5 exahashes to their capacity. Consequently, the company's total hash rate could reach 12.1 EH/s.

The construction of the new farm is expected to bring long-term benefits to the region, promoting economic growth and innovation. The use of green energy underscores the company's commitment to sustainable development.

In addition to its construction plans in Paraguay, HIVE Digital announced an increase in its Bitcoin holdings to 2521 BTC. At the current price of $66,900 per Bitcoin, their crypto assets are valued at $168.6 million.

On the stock market, HIVE Digital shares, traded under the ticker HIVE, showed positive momentum. On July 22, 2024, the shares closed at $4.5 on NASDAQ, marking an 8.4% increase over the past 24 hours.

This news is particularly significant amid the global trend towards using renewable energy sources in cryptocurrency mining. In October 2023, Sazmining launched the first "green" farm in Paraguay, fully utilizing renewable energy, highlighting the growing interest in eco-friendly solutions in this industry.

HIVE Digital is actively expanding its presence in various countries, and the new facility in Paraguay will be an important step in their global growth strategy.