HIVE Digital buys Bitfarms’ Paraguay site for $56m, targets 25 EH/s by Q3

Hive Digital has signed a several million agreement to acquire a mining site of 200 MW in Paraguay, with plans to reach 25 eh / s by September.

Canadian Bitcoin (BTC) Mining Giant Hive Digital should acquire Bitfarms‘200 mW hydroelect mining Site in Paraguay, increasing its mining power to 25 eh / s by September. The electric pump represents more than an increase of 400% compared to its current capacity of 6 eh / s, revealed Hive in a January 28 press release.

The installation, called yguazú, will be developed in two phases. The first phase – which is already complete at 80% – should be posted by Q2, adding 6 eh / s, while the second – expected by August – will contribute 6.5 eh / s using Hydro Hydro -Bitmain S21 +.

“The improved operational capacity of Hive in Paraguay will total 300 MW at the end of this acquisition, which has brought its global capacity, including existing facilities in Canada and Sweden, to 430 MW in the third quarter 2025.”

Digital hive

The $ 56 million agreement includes a large power plant and all its infrastructure. According to the press release, Hive will pay $ 25 million in advance, the rest paid over a period of six months. The project will be funded using Hive’s Cash and Crypto Holdings. Hive will also cover $ 19 million in deposits and construction costs to complete the site.

With the acquisition, Hive doubles his plan to reach 3% of the world Bitcoin mining network, said executive president of Hive, Frank Holmes. In the middle of the news, hive shares increased 5% in trade before the market, just the next day after a 10% drop, which was part of a larger sale among Bitcoin extraction companies . The decline would have been linked to market concerns rumor On an advanced startup emerging in China.