HIVE Digital Begins Construction on 100 MW Hydroelectric Bitcoin Mining Facility in Paraguay

HIVE Digital has started building a 100-megawatt (MW) hydroelectric Bitcoin mining facility in Paraguay to enhance its mining capacity. Recent aerial images from Documenting Bitcoin reveal the initial stages of the project.

Expansion Plans and Revenue Projections

The new site is set to expand HIVE’s Bitcoin mining hashrate by 6.5 exahashes per second (EH/s), raising the total capacity to 12.1 EH/s upon its completion. The project is expected to generate over $100 million in revenue for Paraguay’s national utility over three years, following discussions with Paraguayan President Santiago Peña and his cabinet last year.

As of February 27, 2025, the Bitcoin network’s total hash rate reached 767.53 million TH/s, with market prices exceeding $90,000 as the hash rate continued to increase. The significant growth in hash rate aligns with Bitcoin’s price fluctuations, indicating enhanced network activity and computational power.

The facility will utilize hydroelectric power from the Itaipu Dam, allowing for effective energy use that supports Paraguay’s surplus energy. HIVE plans to leverage its experience in grid balancing and demand response.

Equipment Upgrades and Future Operations

HIVE Digital Technologies also announced the acquisition of 500 Bitmain S21 Pro Antminers, each with a hashrate of 234 terahashes per second (TH/s) and an efficiency of 15 joules per terahash (J/TH). The company expects the delivery of this equipment within the month, which will boost its operational hashrate to 5.6 EH/s. Site development is still pending final agreements, due diligence, and regulatory approvals.