- HIVE Digital starts construction on a 100 MW hydroelectric Bitcoin mining facility in Paraguay to expand its mining capacity.
- The company projects a 6.5 EH/s increase in hashrate, boosting total capacity to 12.1 EH/s upon completion of the new site.
- The project expects to generate over $100 million in revenue for Paraguay’s national utility over three years.
HIVE Digital Technologies Ltd. has commenced construction of a 100-megawatt (MW) hydroelectric-powered Bitcoin mining facility in Paraguay. Recent aerial images shared by Documenting Bitcoin show the site’s early development stages.
Expansion Plans and Revenue Projections
HIVE Digital Technologies has projected an expansion of its mining capacity with the new site in Paraguay. The company expects to increase its Bitcoin mining hashrate by 6.5 exahashes per second (EH/s), raising its total hashrate to 12.1 EH/s.
This initiative follows meetings with Paraguayan President Santiago Peña and his cabinet last year. The company anticipates generating over $100 million in revenue for Paraguay’s national utility over three years.
Tracking the current market trajectory, The Bitcoin network’s total hash rate reached 767.53 million TH/s on February 27, 2025. The market price moved above $90,000 as the hash rate trended higher.
The hash rate increased significantly over the past year, aligning with price movements. Bitcoin’s market price fluctuated while the hash rate remained elevated, reflecting network activity and computational power expansion.
The facility will utilize hydroelectric power from the Itaipu Dam, supporting Paraguay’s surplus energy utilization. The company plans to integrate its experience in grid balancing and demand response to optimize energy use.
Equipment Upgrades and Future Operations
HIVE Digital Technologies has also announced the purchase of 500 Bitmain S21 Pro Antminers. These machines offer a hashrate of 234 terahashes per second (TH/s) with an efficiency of 15 joules per terahash (J/TH).
The company expects the equipment to be delivered within the month, increasing its total operational hashrate to 5.6 EH/s. The site development remains subject to final agreements, due diligence, and regulatory approvals.
