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 improve the corporate’s mining capability by 317% from 6 Exahashes per second (EH/s) to a projected 25 EH/s by September 2025.
One among Wall Road’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 at present 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 undertaking in Valenzuela scheduled for energization by June.
Frank Holmes, Govt Chairman of HIVE
“This acquisition demonstrates our strategic concentrate on sustainable, high-growth growth,” mentioned 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 major achievement.”
The Yguazú facility might be developed in two phases, with section one anticipated to be accomplished by April 1, including roughly 6 EH/s of hashrate. Development 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 instances, HIVE stays targeted on growth, undeterred by falling Bitcoin costs and growing mining issue, 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 assist stage 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. In line with the corporate, it’s at present 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 achieve its 25 EH/s goal, with a objective of reaching a fleet-wide effectivity of 16.5 Joules per Terahash.
“Our precedence is delivering shareholder worth whereas fostering sustainable native progress,” mentioned Aydin Kilic, President and CEO of HIVE. “This acquisition permits us to quadruple our capability whereas sustaining one of the crucial energy-efficient operations within the business.”
The deal consists of possession of a 240 MVA substation with 200 MW of capability, plus related land and services. HIVE paid $25 million at closing, with the remaining $31 million to be paid in equal installments over six months. The corporate estimates the entire web prices to finish the positioning to 200 MW might 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% improve 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 change into the biggest non-public electrical energy shopper from ANDE, HIVE will play an important position in producing a gentle stream of U.S. dollar-denominated income for the federal government,” Holmes famous concerning Lamas’ appointment.
Final month, the Bitcoin miner from Wall Road 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 secure regulatory surroundings, low-cost hydroelectric energy, and aggressive operational prices make it a super location for HIVE’s growth technique, positioning the corporate as a dominant drive in high-performance computing in Latin America.
