HIVE Digital Technologies has marked a significant achievement in its ambitious 2025 growth strategy by successfully completing the first 100 megawatt infrastructure phase at its Yguazù facility in Paraguay. This development is a cornerstone in the company's expansion, featuring a new air-cooled data center supported by a fully operational 200 MW substation. The infrastructure is designed to accommodate 5 EH/s of next-generation ASIC miners, with HIVE already operating 200 petahashes using its proprietary BUZZ Miners.
The company's strategic planning includes the deployment of 8,000 BUZZ Miners by the end of April, scaling up to over 20,000 new-generation ASICs by May, which includes Bitmain S21+ units. Remarkably, HIVE is executing this aggressive expansion without taking on debt, relying instead on a disciplined treasury management strategy. By the end of the second quarter, the company aims to achieve a total hashrate of 5 EH/s in Paraguay and 11.5 EH/s across all its operations.
Leadership at HIVE is optimistic about the company's trajectory. Luke Rossy, chief operating officer, outlined the ambitious goal of reaching 25 EH/s by Fall 2025, which would facilitate the daily production of over 12 Bitcoins at current difficulty levels. Aydin Kilic, president and CEO, highlighted the company's commitment to a debt-free expansion, emphasizing a strategic shift towards smart, measured execution.
To further support its growth, HIVE has expanded its team with the addition of Carlos Anibal Torres as Paraguay operations and project manager. Torres, with over 15 years of experience in large-scale infrastructure and energy systems, brings valuable expertise to the company's operations in Paraguay.
This expansion occurs against a backdrop of favorable market conditions for Bitcoin, with increasing institutional interest from major financial entities such as BlackRock and Goldman Sachs. The supportive regulatory environment for cryptocurrency under the current administration may further influence market dynamics. HIVE's strategic initiatives position the company to potentially secure 3% of the global Bitcoin network by the end of the year, marking a significant achievement in the competitive landscape of cryptocurrency mining.
