Bitcoin miner HIVE Digital completes the first 100 MW facility in Paraguay

HIVE Digital (Nasdaq: HIVE) has completed construction and energization of phase 1 infrastructure at the first 100 megawatt (MW) facility in Yguazù, Paraguay, the Bitcoin mining firm announced on Apr. 20.

The Yguazù facility is an air-cooled data center backed by a fully energized 200 MW substation. The completion lets the facility host a hashrate capacity of 5 exahash per second (EH/s) for application-specific integrated circuit (ASIC) crypto miners.

HIVE is currently running at a capacity of 200 petahash per second (PH/s) at this facility using its BUZZ miners. The firm expects 8,000 additional miners to be online by the end of April.

Initial deliveries of ASICs, including Bitmain S21+ units, have arrived at the facility. The firm expects more than 20,000 units to be delivered before the end of May.

HIVE expects the hashrate capacity in Paraguay to scale to 5 EH/s and that across all operations to 11.5 EH/s by the end of the second quarter of 2025.

Crypto mining is the process of validating and adding transactions to a blockchain by solving cryptographic problems called hashes.

Hashrate is a metric that measures how quickly a crypto miner performs cryptographic calculations to solve blocks in a blockchain network. It is calculated in terms of hashes per second, i.e., the number of hash operations executed per second.

HIVE President and CEO Aydin Kilic said, “Our fiscal year-end marked a strategic pivot — no debt, just smart execution. Our expansion from 6.5 EH/s to 11.5 EH/s has been paid and we’re moving fast.”

HIVE Digital is a Bitcoin mining firm with operations in Canada, Sweden, and Paraguay. The company’s stock has climbed 15% since the announcement to $1.715 at the time of writing.

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