- HIVE begins building a 100 MW hydroelectric Bitcoin mining site in Paraguay.
- The facility will utilize green energy from the Itaipu hydroelectric dam.
- This expansion is set to significantly boost HIVE’s mining capacity.
HIVE’s Sustainable Expansion into Paraguay
HIVE Digital Technologies has embarked on constructing a 100-megawatt (MW) Bitcoin mining facility in Paraguay, marking a significant milestone in sustainable cryptocurrency mining. This development follows strategic discussions with Paraguayan President Santiago Peña and his senior cabinet members, highlighting the country’s favorable business environment.
Harnessing Hydroelectric Power
The new facility will draw power from the Itaipu hydroelectric dam, one of the world’s largest producers of renewable energy. By leveraging this green energy source, HIVE aims to minimize its environmental footprint while enhancing operational efficiency. This initiative aligns with the company’s commitment to sustainable practices in the digital asset mining industry.
First images of HIVE's new 100 megawatt hydroelectric powered Bitcoin mine under construction in Paraguay pic.twitter.com/WuypV429H0
— Documenting ₿itcoin 📄 (@DocumentingBTC) February 28, 2025
Projected Impact on Mining Capacity
Upon completion, the Paraguay facility is expected to add up to 6.5 exahashes per second (EH/s) to HIVE’s Bitcoin mining operations, effectively doubling its global hashrate to 12.1 EH/s. This substantial increase will bolster HIVE’s position in the competitive cryptocurrency mining landscape.
Construction Progress and Future Outlook
Construction has officially commenced, with initial operations projected to begin by early Q2 2025. The facility is slated to be fully operational by Q3 2025, contributing significantly to HIVE’s sustainable growth strategy. This expansion not only underscores HIVE’s dedication to environmentally conscious mining practices but also reflects Paraguay’s potential as a hub for green energy initiatives in the digital economy.
