HIVE Digital Technologies Ltd. has begun construction of a 100 MW hydroelectric facility for Bitcoin mining in Paraguay. New aerial images provided by Documenting Bitcoin show the early stages of the facility’s development.
HIVE Digital Technologies is predicting an increase in its mining capacity with a new facility in Paraguay. The company aims to increase its Bitcoin mining hashrate by 6.5 exahashes per second (EH/s), bringing the total hashrate to 12.1 EH/s.
The initiative is the result of meetings with Paraguayan President Santiago Peña and his team last year. The company is expected to generate more than $100 million in revenue for Paraguay’s national utility over three years.
Following current market trends, the total hashrate of the Bitcoin network was 767.53 million TH/s on February 27, 2025. The market value exceeded $90,000 as the hashrate increased.
Source: Blockchain.com
The hash rate has increased significantly over the past year, which coincides with price changes. Bitcoin’s market value has fluctuated while the hash rate has remained high, reflecting network activity and increased computing power.
The facility will use hydroelectric power from the Itaipu Dam, helping to utilize excess energy in Paraguay. The company plans to use its expertise in grid balancing and demand response to optimize energy resources.
HIVE Digital Technologies also announced the purchase of 500 Antminer S21 Pro from Bitmain. These devices offer a hashrate of 234 terahashes per second (TH/s) with an efficiency of 15 joules per terahash (J/TH).
The equipment is expected to be delivered within a month, increasing the company’s total operational hashrate to 5.6 EH/s. The site’s development remains subject to final agreements, due diligence, and regulatory approval.
Source: cryptonews.net
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