Canadian cryptocurrency mining firm HIVE Digital has announced plans to build a 100MW Bitcoin mining center in Paraguay, aiming to double its revenue. This new site will generate over $100 million in stable U.S. dollar revenue for Paraguay’s government-owned utility company.
Frank Holmes, HIVE’s executive chairman, noted that the project will add up to 6.5 Exahash per second (EH/s) to their operations, increasing their global resources to 12.1 EH/s. This milestone supports HIVE’s commitment to expanding its global footprint, which includes data center operations in Canada, Sweden, Iceland, and now Paraguay.
Additionally, HIVE Digital is enhancing its equipment with 500 new Bitmain S21 Pro Antminers, expected to boost its operational hashrate to 5.6 EH/s. This strategic move is significant for HIVE’s diversified growth strategy and long-term global expansion in the cryptocurrency mining sector.
