HIVE Digital Acquires Yguazú Site to Enhance Mining Capacity by 317%

HIVE Digital has acquired Bitfarms’ 200 MW hydro-powered facility in Yguazú, Paraguay, boosting its mining capacity by 317% to a total of 300 MW. The acquisition is part of a two-phase development project aimed to increase hashrate to 25 EH/s by 2025, demonstrating the company’s focus on sustainable growth while creating shareholder value.

HIVE Digital Technologies has made a significant advancement by acquiring Bitfarms’ 200-megawatt hydro-powered mining facility located in Yguazú, Paraguay, for $56 million. This strategic purchase is set to expand HIVE’s mining capacity by 317%, raising its total mining infrastructure in Paraguay to 300 MW. The firm also has a 100 MW project underway in Valenzuela, aiming for activation by mid-2025, and expects a total operational capacity of 430 MW by the third quarter across its locations in Paraguay, Canada, and Sweden.

In conclusion, HIVE Digital’s acquisition of the Yguazú site marks a pivotal expansion in its mining operations, emphasizing a commitment to sustainability and growth. The planned developments may significantly increase HIVE’s mining power, providing substantial benefits for shareholders while fostering local economic engagement. The company is on track to meet its ambitious hashrate goals by leveraging advanced technology in energy efficiency.

Original Source: crypto.news