HIVE Digital Applied sciences (NASDAQ: HIVE) has accomplished the acquisition of Bitfarms Ltd.’s 200-megawatt Yguazú hydro-powered facility in Paraguay. The transfer will enhance the corporate’s mining capability by 317% from 6 Exahashes per second (EH/s) to a projected 25 EH/s by September 2025.
Considered one of Wall Avenue’s largest Bitcoin (BTC) miners continues its growth regardless of this yr’s BTC worth correction. The cryptocurrency has declined by 25% from its all-time highs in January and is presently testing its lowest ranges in over 4 months.
The $56 million acquisition strengthens HIVE’s place within the sustainable blockchain infrastructure sector, increasing its international operational footprint to 430 MW throughout Paraguay, Canada, and Sweden by the third quarter of 2025. With this deal, HIVE will management 300 MW of mining infrastructure in Paraguay alone, together with its beforehand introduced 100 MW challenge in Valenzuela scheduled for energization by June.
Frank Holmes, Govt Chairman of HIVE
“This acquisition demonstrates our strategic give attention to sustainable, high-growth growth,” stated Frank Holmes, Govt Chairman of HIVE. “Scaling our operations to three% of the worldwide community by September 2025, powered completely by inexperienced power, is a big achievement.”
The Yguazú facility will probably be developed in two phases, with section one anticipated to be accomplished by April 1, including roughly 6 EH/s of hashrate. Building is already 80% full. The second section, projected for completion by August 31, will contribute an extra 6.5 EH/s utilizing hydro-cooled ASICs for enhanced effectivity.
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Why Is Bitcoin Value Going Down?
Regardless of difficult occasions, HIVE stays centered on growth, undeterred by falling Bitcoin costs and growing mining problem, which have considerably squeezed revenue margins.
As of March 18, 2025, Bitcoin is buying and selling at $82,500 per BTC, down 25% from two months in the past. On Tuesday, the worth dropped by 1.8%, hovering close to the psychological help degree of $80,000 and marking a four-month low.
In February, BTC fell by 18%, negatively impacting HIVE’s manufacturing. Final month, the miner extracted 89 BTC, down from 102 BTC within the earlier month. Based on the corporate, it’s presently reallocating its assets to initiatives geared toward growing its hashrate
Bitmain S21+ Hydro ASICs
Aydin Kilic, President & CEO of HIVE
HIVE has secured ASICs for 15 EH/s of operational hashrate, together with its current 6.5 EH/s put in capability and an 8.6 EH/s order of Bitmain S21+ Hydro ASICs introduced final November. The corporate plans to announce extra ASIC acquisitions within the coming months to succeed in its 25 EH/s goal, with a aim of reaching a fleet-wide effectivity of 16.5 Joules per Terahash.
“Our precedence is delivering shareholder worth whereas fostering sustainable native development,” stated Aydin Kilic, President and CEO of HIVE. “This acquisition permits us to quadruple our capability whereas sustaining one of the vital energy-efficient operations within the trade.”
The deal contains possession of a 240 MVA substation with 200 MW of capability, plus related land and amenities. HIVE paid $25 million at closing, with the remaining $31 million to be paid in equal installments over six months. The corporate estimates the overall web prices to finish the positioning to 200 MW will probably be $400,000 per MW.
HIVE is thrilled to announce the closing of its acquisition of Bitfarms’ 200 MW hydro-powered facility in Paraguay.
This strategic growth marks a 317% enhance in mining capability, propelling HIVE from 6 EH/s at this time to a projected 25 EH/s by September 2025. pic.twitter.com/udGdIAVndu
— HIVE Digital Applied sciences (@HIVEDigitalTech) March 18, 2025
New Nation President in Paraguay
This growth coincides with HIVE’s appointment of Gabriel Lamas as Nation President of Paraguay, introduced a day earlier. Lamas, {an electrical} engineer with over 20 years of experience in infrastructure and power initiatives, beforehand served as LATAM Director of Infrastructure and Operations at Bitfarms Ltd. and held positions with Paraguay’s Nationwide Utility, ANDE.
“As we grow to be the most important non-public electrical energy shopper from ANDE, HIVE will play a significant function in producing a gradual stream of U.S. dollar-denominated income for the federal government,” Holmes famous relating to Lamas’ appointment.
Final month, the Bitcoin miner from Wall Avenue additionally employed Craig Tavares as President and Chief Working Officer of its Buzz HPC division, which focuses on GPU Cloud and Excessive-Efficiency Computing (HPC) companies.
Paraguay’s steady regulatory surroundings, low-cost hydroelectric energy, and aggressive operational prices make it a perfect location for HIVE’s growth technique, positioning the corporate as a dominant drive in high-performance computing in Latin America.
