HIVE Digital Technologies has acquired a 200 MW hydro-powered facility in Paraguay for $56 million.
The company aims to increase its mining capacity from 6 EH/s to 25 EH/s by September 2025.
In the meantime, it also appointed Gabriel Lamas as Country President of Paraguay to lead its regional expansion.
HIVE
Digital Technologies (NASDAQ: HIVE)
has completed the acquisition of Bitfarms Ltd's 200-megawatt Yguazú
hydro-powered facility in Paraguay. The move will increase the company's mining
capacity by 317% from 6 Exahashes per second (EH/s) to a projected 25 EH/s by
September 2025.
One of Wall
Street's largest Bitcoin (BTC) miners continues its expansion despite this
year's BTC price correction. The cryptocurrency has declined by 25% from its
all-time highs in January and is currently testing its lowest levels in over
four months.
HIVE Digital Technologies
Set to Quadruple Mining Capacity by 2025
The $56
million acquisition strengthens HIVE's position in the sustainable blockchain
infrastructure sector, expanding its global operational footprint to 430 MW
across Paraguay, Canada, and Sweden by the third quarter of 2025. With this
deal, HIVE will control 300 MW of mining infrastructure in
Paraguay alone, including its previously announced 100 MW project in
Valenzuela scheduled for energization by June.
Frank Holmes, Executive Chairman of HIVE
“This
acquisition demonstrates our strategic focus on sustainable, high-growth
expansion,” said Frank Holmes, Executive Chairman of HIVE. “Scaling
our operations to 3% of the global network by September 2025, powered entirely
by green energy, is a significant achievement.”
The Yguazú
facility will be developed in two phases, with phase one expected to be
completed by April 1, adding approximately 6 EH/s of hashrate. Construction is
already 80% complete. The second phase, projected for completion by August 31,
will contribute an additional 6.5 EH/s using hydro-cooled ASICs for enhanced
efficiency.
Despite
challenging times, HIVE remains focused on expansion, undeterred by falling
Bitcoin prices and increasing mining difficulty, which have significantly
squeezed profit margins.
As of March
18, 2025, Bitcoin is trading at $82,500 per BTC, down 25% from two months ago.
On Tuesday, the price dropped by 1.8%, hovering near the psychological support
level of $80,000 and marking a four-month low.
In
February, BTC
fell by 18%, negatively impacting HIVE’s production. Last month, the miner
extracted 89 BTC, down from 102 BTC in the previous month. According to the
company, it is currently reallocating its resources to projects aimed at
increasing its hashrate.
Bitmain S21+ Hydro ASICs
Aydin Kilic, President & CEO of HIVE
HIVE has
secured ASICs for 15 EH/s of operational hashrate, including its existing 6.5
EH/s installed capacity and an 8.6 EH/s order of Bitmain S21+ Hydro ASICs
announced last November. The company plans to announce additional ASIC
acquisitions in the coming months to
reach its 25 EH/s target, with a goal of achieving a fleet-wide efficiency
of 16.5 Joules per Terahash.
“Our
priority is delivering shareholder value while fostering sustainable local
growth,” said Aydin Kilic, President and CEO of HIVE. “This
acquisition allows us to quadruple our capacity while maintaining one of the
most energy-efficient operations in the industry.”
The deal
includes ownership of a 240 MVA substation with 200 MW of capacity, plus
associated land and facilities. HIVE paid $25 million at closing, with the
remaining $31 million to be paid in equal installments over six months. The
company estimates the total net costs to complete the site to 200 MW will be
$400,000 per MW.
New Country President in Paraguay
This
expansion coincides with HIVE's appointment of Gabriel Lamas as Country
President of Paraguay, announced a day earlier. Lamas, an electrical engineer
with over 20 years of expertise in infrastructure and energy projects,
previously served as LATAM Director of Infrastructure and Operations at
Bitfarms Ltd and held positions with Paraguay's National Utility, ANDE.
“As we
become the largest private electricity consumer from ANDE, HIVE will play a
vital role in generating a steady stream of U.S. dollar-denominated revenue for
the government,” Holmes noted regarding Lamas' appointment.
Paraguay's
stable regulatory environment, low-cost hydroelectric power, and competitive
operational costs make it an
ideal location for HIVE's expansion strategy, positioning the company as a
dominant force in high-performance computing in Latin America.
HIVE
Digital Technologies (NASDAQ: HIVE)
has completed the acquisition of Bitfarms Ltd's 200-megawatt Yguazú
hydro-powered facility in Paraguay. The move will increase the company's mining
capacity by 317% from 6 Exahashes per second (EH/s) to a projected 25 EH/s by
September 2025.
One of Wall
Street's largest Bitcoin (BTC) miners continues its expansion despite this
year's BTC price correction. The cryptocurrency has declined by 25% from its
all-time highs in January and is currently testing its lowest levels in over
four months.
HIVE Digital Technologies
Set to Quadruple Mining Capacity by 2025
The $56
million acquisition strengthens HIVE's position in the sustainable blockchain
infrastructure sector, expanding its global operational footprint to 430 MW
across Paraguay, Canada, and Sweden by the third quarter of 2025. With this
deal, HIVE will control 300 MW of mining infrastructure in
Paraguay alone, including its previously announced 100 MW project in
Valenzuela scheduled for energization by June.
Frank Holmes, Executive Chairman of HIVE
“This
acquisition demonstrates our strategic focus on sustainable, high-growth
expansion,” said Frank Holmes, Executive Chairman of HIVE. “Scaling
our operations to 3% of the global network by September 2025, powered entirely
by green energy, is a significant achievement.”
The Yguazú
facility will be developed in two phases, with phase one expected to be
completed by April 1, adding approximately 6 EH/s of hashrate. Construction is
already 80% complete. The second phase, projected for completion by August 31,
will contribute an additional 6.5 EH/s using hydro-cooled ASICs for enhanced
efficiency.
Despite
challenging times, HIVE remains focused on expansion, undeterred by falling
Bitcoin prices and increasing mining difficulty, which have significantly
squeezed profit margins.
As of March
18, 2025, Bitcoin is trading at $82,500 per BTC, down 25% from two months ago.
On Tuesday, the price dropped by 1.8%, hovering near the psychological support
level of $80,000 and marking a four-month low.
In
February, BTC
fell by 18%, negatively impacting HIVE’s production. Last month, the miner
extracted 89 BTC, down from 102 BTC in the previous month. According to the
company, it is currently reallocating its resources to projects aimed at
increasing its hashrate.
Bitmain S21+ Hydro ASICs
Aydin Kilic, President & CEO of HIVE
HIVE has
secured ASICs for 15 EH/s of operational hashrate, including its existing 6.5
EH/s installed capacity and an 8.6 EH/s order of Bitmain S21+ Hydro ASICs
announced last November. The company plans to announce additional ASIC
acquisitions in the coming months to
reach its 25 EH/s target, with a goal of achieving a fleet-wide efficiency
of 16.5 Joules per Terahash.
“Our
priority is delivering shareholder value while fostering sustainable local
growth,” said Aydin Kilic, President and CEO of HIVE. “This
acquisition allows us to quadruple our capacity while maintaining one of the
most energy-efficient operations in the industry.”
The deal
includes ownership of a 240 MVA substation with 200 MW of capacity, plus
associated land and facilities. HIVE paid $25 million at closing, with the
remaining $31 million to be paid in equal installments over six months. The
company estimates the total net costs to complete the site to 200 MW will be
$400,000 per MW.
New Country President in Paraguay
This
expansion coincides with HIVE's appointment of Gabriel Lamas as Country
President of Paraguay, announced a day earlier. Lamas, an electrical engineer
with over 20 years of expertise in infrastructure and energy projects,
previously served as LATAM Director of Infrastructure and Operations at
Bitfarms Ltd and held positions with Paraguay's National Utility, ANDE.
“As we
become the largest private electricity consumer from ANDE, HIVE will play a
vital role in generating a steady stream of U.S. dollar-denominated revenue for
the government,” Holmes noted regarding Lamas' appointment.
Paraguay's
stable regulatory environment, low-cost hydroelectric power, and competitive
operational costs make it an
ideal location for HIVE's expansion strategy, positioning the company as a
dominant force in high-performance computing in Latin America.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
From Chat to Stock: xStocks Puts Tokenized U.S. Equities Inside TON Wallet on Telegram
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
In this conversation, we sit down with Drew Niv, CSO at ATFX Connect and one of the most influential figures in modern FX.
We speak about market structure, the institutional view on liquidity, and the sharp rise of prop trading, a sector Drew has been commenting on in recent months. Drew explains why he once dismissed prop trading, why his view changed, and what he now thinks the model means for brokers, clients and risk managers.
We explore subscription-fee dependency, the high reneging rate, and the long-term challenge: how brokers can build a more stable and honest version of the model. Drew also talks about the traffic advantage standalone prop firms have built and why brokers may still win in the long run if they take the right approach.
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
Executive Interview | Remonda Z. Kirketerp Møller| CEO & Founder Muinmos | FMLS:25
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this interview, Remonda Z. Kirketerp Møller, founder of Muinmos, breaks down the state of AI in regtech and what responsible adoption really looks like for brokers. We talk about rising fragmentation, the pressures around compliance accuracy, and why most firms are still in the early stages of AI maturity.
Ramanda also shares insights on regulator sandboxes, shifting expectations around accountability, and the current reality of MiCA licensing and passporting in Europe.
A concise look at where compliance, onboarding, and AI-driven processes are heading next.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Exness expands its presence in Africa: Inside our interview with Paul Margarites in Cape Town
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
