HIVE Digital Technologies Expands Paraguay Bitcoin Mining Facility with 200MW Hydro-Powered Capacity

HIVE Digital Technologies has completed phase two of its Paraguay Bitcoin mining facility expansion, adding 200 megawatts of hydro-powered capacity. The project is split across two sites, a 200 megawatt facility in Yguazú and a 100 megawatt facility in Valenzuela. Phase three will add another 100 megawatts of hydropower machines. The company is focusing on renewable energy and is proud of its green energy focus, which helps the country of Paraguay.

HIVE Digital Technologies Ltd. has successfully completed Phase 2 of its Yguazú project in Paraguay, exceeding its target of 18 Exahash per second (EH/s) of global Bitcoin mining capacity. The company, which operates on a dual business model combining Bitcoin mining and high-performance computing (HPC), announced that it has now reached a total global hashrate of 18 EH/s, ahead of its summer 2025 goal. The Yguazú site, powered by renewable hydroelectric energy from the Itaipú Dam, is now mining over 8.5 Bitcoin per day.

The company's President and CEO, Aydin Kilic, stated, "HIVE is one of the few companies in the world operating with a dual business model, in Bitcoin mining and also AI Cloud computing powered by GPUs in our HPC data centers." The successful completion of Phase 2 signifies a significant milestone for HIVE, which has rapidly expanded its Bitcoin mining capacity. The company's COO, Luke Rossy, highlighted the team's achievement in mastering hydro ASIC cooling infrastructure, which has optimized operational efficiency in the local climate.

HIVE's expansion plans are not limited to Yguazú. The company has energized the transformers in Phase 3 at the Valenzuela site, marking the third 100 MW of green energy infrastructure built in Paraguay. ASIC deployment is scheduled to begin in the coming weeks, with the final step in its expansion plan aiming to reach 25 EH/s. Upon completion, the company projects daily Bitcoin production of approximately 12 BTC by U.S. Thanksgiving, representing about 3% of the global Bitcoin mining network.

The company's CFO, Darcy Daubaras, emphasized the focus on delivering strong and sustainable performance, driving sector-leading efficiency through superior capital returns and low G&A expenses. The expansion is expected to remain consistent with the established economics of its Paraguay operations, with each incremental exahash increasing daily production and revenue potential. The company's cost structure remains predictable due to fixed-rate hydroelectric power and the absence of material incremental labor costs.

The news release also mentioned that all Phase 3 ASICs destined for Valenzuela have been paid for and shipped, with the initial batches already received on site. This update informs the market that capital expenditures for expansion have been deployed, and the expansion is now underway as hardware is delivered and installed on-site.

References
[1] https://www.ainvest.com/news/hive-digital-technologies-completes-phase-2-expansion-yguaz-reaches-8-5-bitcoin-day-mining-capacity-2509/
[2] https://www.barchart.com/story/news/34560947/retransmission-hive-digital-technologies-completes-phase-2-of-its-yguazu-project-in-paraguay-reaching-18-eh-s-producing-8-bitcoin-per-day-from-hydroelectric-power