Hive Focuses on Paraguay: Clean Energy and Sustainable Growth for Bitcoin Mining
Canadian Bitcoin mining company Hive Digital Technologies has decided to invest heavily in Latin America , choosing Paraguay as a long-term strategic partner.
According to Aydin Kilic , President and CEO of Hive, Paraguay is an ideal combination of geopolitical stability , affordable hydroelectricity and openness to foreign investment .
In an interview, Kylych noted that the company’s goal is not short-term arbitration, but a long-term partnership with this South American country.
Summary
- New Stage for Bitcoin Mining: Paraguay at the Center of Hive Strategy
- Preparing for the Future: Technology, Energy and Human Capital
- A replicable model for the future of mining
New Stage for Bitcoin Mining: Paraguay at the Center of Hive Strategy
In January, Hive made a significant strategic move by acquiring a 200-megawatt (MW) facility in Iguazu , previously owned by Bitfarms, for $56 million .
The first phase of the project, which included the construction of a 100 MW data centre , was completed in April.
The center is already operational and delivers performance at five exahashes per second (EH/s) using ASICs (application-specific integrated circuits) to mine Bitcoin.
The company has ambitious plans for the future: by 2025, Hive intends to reach a capacity of 300 MW in Paraguay, and by September to increase the total hashrate to 25 EH/s .
A central element of Hive's strategy is integration into the local economic and social fabric.
Kılıç explained that the company spent more than a year building strong relationships with stakeholders in Paraguay , investing in local hiring , training programs and partnering with local suppliers .
The goal is to create a local support ecosystem that keeps operating costs low while improving efficiency and business continuity.
Despite some legislative initiatives aimed at restricting cryptocurrency mining in Paraguay due to the impact on electricity supply and the risk of rising energy prices, Hive is actively engaged in dialogue with policymakers .
The company aims to contribute to a clear and collaborative regulatory framework that will promote both technological progress and sustainability in the energy sector.
«`html
Preparing for the Future: Technology, Energy and Human Capital
«`
In any case, Hive is not limited to Paraguay. The company already has active data centers in Canada and Sweden and is currently moving its headquarters to San Antonio, Texas .
This expansion across multiple continents is part of a geographic diversification strategy aimed at protecting the company from potential geopolitical upheavals or changes in trade policy .
A specific example of such attention is the reaction to tariffs imposed by the United States on China , which have led to an increase in the prices of mining equipment, in particular ASICs.
To avoid dependence on one region, Hive has diversified its supply channels for both ASICs and electrical components.
To achieve the 25 EH/s target, Hive has already secured key ASIC orders , entered into long-term power purchase agreements , and expanded its engineering capabilities across three continents.
This approach allows the company to withstand technological and market uncertainty with greater resilience.
Kylych explained that the profitability of Bitcoin mining is ultimately a physics issue .
Capital and operational expenses need to be assessed based on hashrate, aiming for the most efficient way to fund operations through BTC treasury management and ATM sales .
Even small miners can achieve positive results if they focus on controllable variables , Kılıç said.
Whether it's a single installation or thousands of machines, optimising operating costs , maximising energy efficiency and minimising downtime are important.
Discipline in financial management is another key element to ensure business sustainability and growth.
A replicable model for the future of mining
Hive's choice of Paraguay serves as a concrete example of how Bitcoin mining can grow sustainably by integrating with the local economy and using renewable and affordable resources.
Source: cryptonews.net
