HIVE Digital Technologies Expands Bitcoin Mining Operations in Paraguay, Aiming for Significant Growth

HIVE Digital Technologies has made a strategic move to expand its Bitcoin mining operations by acquiring a 200 MW facility in Yguazú, Paraguay, from Bitfarms. This acquisition is a critical step in the company's plan to increase its global hashrate from 6 EH/s to 25 EH/s by September 2025, marking a potential 317% growth. The expansion not only underscores HIVE's commitment to scaling its operations but also highlights Paraguay's role as a key player in the global Bitcoin mining industry, thanks to its abundant renewable hydroelectric energy and supportive regulatory environment.

Following the acquisition, HIVE's presence in Paraguay will now include a total of 300 MW of mining capacity, building on its existing 100 MW facility. The company's choice of Paraguay is strategic, leveraging the country's renewable energy resources to ensure sustainable and efficient mining operations. This move is expected to significantly contribute to HIVE's goal of capturing approximately 3% of the global Bitcoin network, reinforcing the United States' position as a leader in Bitcoin mining, responsible for over 40% of the global hashrate.

HIVE's ambitious expansion is backed by its strong performance in 2024, where it mined 1,772 Bitcoin and increased its Bitcoin holdings by 65% year-over-year to 2,805. The company is not just focusing on expansion but also on operational efficiency, aiming for a miner fleet efficiency of 16.5 joules per terahash (J/TH). With a lean team structure, HIVE anticipates generating $20 million in revenue per employee annually, potentially outperforming tech giants like Apple and Nvidia in revenue-per-employee metrics.

By targeting a total capacity of 430 MW by Q3 2025 and setting an annual revenue goal of $500 million, HIVE Digital Technologies is positioning itself as a formidable force in the Bitcoin mining sector. The company's strategy combines technological innovation, the use of sustainable energy, and aggressive growth planning, setting a benchmark for the industry. This expansion not only signifies HIVE's growth trajectory but also the increasing importance of sustainable and efficient mining practices in the cryptocurrency sector.