HIVE Digital is planning a major increase in its bitcoin mining capacity, leveraging Paraguay's hydroelectric power surplus to achieve over 400% growth by 2025.
Expanding Bitcoin Mining with Hydropower
HIVE Digital acquired a 200 MW bitcoin mining facility in Yguazú, Paraguay, which will boost its global hashrate to 25 EH/s by September 2024. The project is supported by the Itaipu Dam's energy, co-owned by Paraguay and Brazil.
Investments in Infrastructure and New Opportunities
The company is constructing a 100 MW data center in Paraguay, expected to be operational by late 2024. HIVE Digital also plans to harness the capabilities of AI algorithms, aligning with major global trends.
Advantages and Growth Prospects
New tariff agreements allow HIVE Digital to purchase electricity at competitive rates, providing an edge over other market players. This, combined with sustainable infrastructure, could become a model strategy as bitcoin network complexity increases.
With rising Bitcoin network difficulty, HIVE Digital's use of renewable energy sources offers a strategic edge. Paraguay's role in providing surplus hydropower is key to achieving HIVE's objectives in the coming years.
