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Highlights

  • HIVE closes acquisition of Bitfarms' Yguazú hydro-powered 200 MW facility in Paraguay
  • The acquisition boosts HIVE’s mining capacity to 25 EH/s by September 2025
  • The Company’s global operational footprint will reach 430 MW by Q3 2025

HIVE Digital Technologies Ltd. (TSXV: HIVE), a global leader in sustainable data center infrastructure, has announced the successful closing of its acquisition of Bitfarms Ltd.'s 200-megawatt (MW) hydro-powered facility in Paraguay. This strategic acquisition marks a 317% increase in the company’s mining capacity, propelling HIVE from 6 Exahashes per second (EH/s) to a projected 25 EH/s by September 2025.

With this expansion, HIVE now boasts a total of 300 MW of mining infrastructure in Paraguay. This includes the previously announced 100 MW project in Valenzuela, which is set to be energized by June 2025. By Q3 2025, the company's global operational footprint is set to grow to 430 MW, with mining sites in Paraguay, Canada, and Sweden.

Paraguay’s low-cost hydroelectric power, stable regulatory environment, and competitive operational costs make it an ideal location for HIVE’s rapid growth in high-performance computing. The acquisition underscores HIVE’s commitment to utilizing 100% green hydroelectric energy.

Phased Development Plan for Yguazú Facility

The Yguazú 200 MW facility will be developed in two phases:

  • Phase 1: Expected to be completed by April 1, 2025. This phase is 80% complete, and once operational, will add approximately 6 EH/s of hashrate by Q2 2025.
  • Phase 2: Expected completion by August 31, 2025. This phase will enhance efficiency with 6.5 EH/s powered by hydro-cooled ASICs.

HIVE has already secured ASICs for 15 EH/s of operational hashrate, which includes both its existing capacity and future orders of Bitmain S21+ Hydro ASICs. The company expects to achieve a fleet-wide efficiency of 16.5 Joules per Terahash (J/TH) once the 25 EH/s target is met, significantly reducing operational costs.