HIVE Digital Scales Up Paraguay Bitcoin Mining With 200 MW Hydropower Expansion

HIVE Digital Technologies has reached a major milestone in its South American operations, completing the second phase of its Paraguay Bitcoin mining expansion. The company announced that an additional 200 megawatts of hydro-powered capacity are now fully operational, reinforcing its strategy of scaling cryptocurrency mining through renewable energy.

The project spans two key sites: a 200 MW facility in Yguazú and a 100 MW site in Valenzuela. With the completion of phase two, HIVE is generating more than 8.5 Bitcoin per day, marking a significant boost to its output. The company is now pressing ahead with phase three, which will add another 100 MW of hydropower machines, scheduled to be installed before the U.S. Thanksgiving holiday.

Chief Financial Officer Darcy Daubaras underscored the achievement, noting that the expansion is both a technical and logistical success.“The team has been working around the clock, solving software issues and bringing machines online. It’s a huge milestone for HIVE, and we’re extremely excited to continue with phase three,”he said.

HIVE’s commitment to green energy mining has been a defining feature of its business model since 2017. By leveraging Paraguay’s abundant hydroelectric resources — particularly surplus power from the world’s largest hydroelectric dam in the Western Hemisphere — the company ensures sustainable operations while also providing economic benefits to the host nation.

Unlike exports of power to neighboring countries such as Brazil or Argentina, which can sometimes be subject to delayed or defaulted payments, HIVE’s monthly U.S. dollar remittances to Paraguay’s government and energy providers are consistent and reliable. This, Daubaras emphasized, strengthens both the company’s operational stability and Paraguay’s fiscal inflows.

Currently, HIVE is operating at over 18 exahash of mining power. The company aims to hit 25 exahash by Thanksgiving, a target that now appears well within reach given the pace of installations. With hardware and infrastructure already financed and en route — including ASIC miners and container units shipped by boat — the company sees a clear path to its ambitious output goal.

For the Bitcoin mining industry, HIVE’s Paraguay expansion illustrates two critical trends: the consolidation of large-scale industrial operations and the shift toward renewable-powered mining. As regulatory scrutiny of crypto’s carbon footprint intensifies, HIVE’s hydro-backed model offers a blueprint for sustainable growth in an energy-intensive sector.

As the company accelerates toward its 25 exahash target, investors and regulators alike will be watching closely. If successful, HIVE’s expansion in Paraguay could set a new benchmark for how Bitcoin mining companies balance profitability, scalability, and sustainability.