It is with no small amount of pride that we report HIVE Digital, the intrepid Canadian Bitcoin mining company, has completed the first stage of its magnificent facility in the far-flung lands of Paraguay. The company, ever ambitious, aims to reach a staggering 25 exahash per second by the autumn of 2025, a goal worthy of great admiration and perhaps a touch of skepticism. 👀
On the 21st of April, much to the delight of the market, HIVE Digital’s shares leapt a modest 2% in pre-market trading upon the announcement of its triumphant success in completing Phase 1 of its 100-megawatt site. The facility, known as Yguazù, has been fully equipped and energized, now capable of hosting a whopping 5 exahash per second for its ASIC miners. A fine feat indeed! 🎉
Not one to rest on its laurels, HIVE Digital is already running a respectable 200 petahashes per second with its in-house BUZZ Miners and anticipates that by month’s end, a full 8,000 units shall be in operation. The arrival of Bitmain’s S21+ miners has begun, with over 20,000 more expected to join the fray by the end of May. A truly ambitious venture, if not slightly overzealous! 💻
“As of March 31, we secured deposits for 4.3 EH/s of Bitmain S21+ miners, funded through disciplined treasury management. Our fiscal year-end marked a strategic pivot — no debt, just smart execution. Our expansion from 6.5 EH/s to 11.5 EH/s has been paid and we’re moving fast.”
Aydin Kilic, HIVE Digital’s CEO
HIVE Digital has set its sights on further grandeur, planning to scale to 5 EH/s in Paraguay by the close of Q2 and 11.5 EH/s on a global scale. In the words of the ever-hopeful Luke Rossy, the company’s Chief Operating Officer, “We are poised to reach 25 EH/s by the fall of 2025, and we shall be producing no less than 12 BTC daily.” Such lofty ambitions, but who could argue with the enthusiasm? 💸
In addition to this notable construction feat, HIVE Digital has made the wise decision to bolster its Paraguayan operations with the hiring of Carlos A. Torres Pérez as their operations & project manager. With Paraguay’s “talent, energy, and vision” fueling their endeavors, HIVE is ready to conquer the crypto mining world, and they are not shy about saying so! 🏆
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2025-04-21 10:16