Canadian Bitcoin mining company HIVE Digital is making big moves in Latin America. On April 21, the company announced that its new 100-megawatt mining facility in Paraguay is officially up and running — and the market responded with a 2% jump in its stock during pre-market trading.
Located in Yguazù, the site marks a major milestone for HIVE. Phase 1 is now fully energized and equipped to support up to 5 exahash per second (EH/s) of mining power using ASIC machines. Currently, HIVE is already running 200 petahash per second (PH/s) with its own BUZZ Miners, and 8,000 more units are expected to be operational by the end of April.
The company also confirmed that over 20,000 Bitmain S21+ miners are on the way, with deliveries scheduled to wrap up by the end of May.
“As of March 31, we’ve secured 4.3 EH/s worth of new miners — fully paid for with smart treasury management, not debt,” said Aydin Kilic, CEO of HIVE Digital. “We’ve scaled from 6.5 EH/s to 11.5 EH/s globally, and we’re not slowing down.”
By the end of Q2, HIVE aims to reach 5 EH/s in Paraguay alone and a total of 11.5 EH/s worldwide. Looking further ahead, the company wants to hit 25 EH/s by fall 2025 — a level that could produce more than 12 Bitcoin per day.
To support this growth, HIVE also announced a new addition to its leadership team: Carlos A. Torres Pérez, who will take on the role of operations and project manager in Paraguay.
“HIVE believes in Paraguay’s potential — it has the energy, talent, and drive to become a crypto mining hub,” the company stated.
