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HIVE Digital Technologies Announces Plans to Build 100 MW Hydroelectric Data Center in Paraguay, Targeting to Double Revenue and Increase Hashrate to Over 12 Exahash in the Next Year
Vancouver, British Columbia--(Newsfile Corp. - July 22, 2024) - HIVE Digital Technologies Ltd. (...
About this update from Hive Digital Technologies Ltd
[{"type":"text","content":"\nHIVE Digital Technologies Announces Plans to Build 100 MW Hydroelectric Data Center in Paraguay, Targeting to Double Revenue and Increase Hashrate to Over 12 Exahash in the Next YearVancouver, British Columbia--(Newsfile Corp. - July 22, 2024) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (\"HIVE\" or the \"Company\"), a leading digital asset miner and \"green\"-focused data center builder and operator, today announced its plans for constructing a 100 megawatt (\"MW\") digital asset mining operation in Paraguay. After touring the country and meeting with President Santiago Peña and his senior cabinet ministers, HIVE endorses his vision for a business-friendly Paraguay (all amounts in US dollars, unless otherwise indicated).Frank Holmes, HIVE's Executive Chairman stated: \"We are thrilled to announce our plan for a 100 MW project in Paraguay, utilizing green and clean energy sourced from the Itaipu hydroelectric dam. This potential opportunity is expected to add up to an additional 6.5 Exahash per second (EH/s) to our Bitcoin mining operations, increasing our global EH/s to 12.1 EH/s. This represents a significant milestone in our diversified growth strategy and supports our commitment to expanding our global footprint with data center operations in Canada, Sweden, Iceland and now Paraguay. We are confident that this venture can deliver healthy returns and drive long-term value, fostering economic growth and innovation in the region.\"Stability in government fiscal policies, such as energy pricing and taxation, will be a key factor in our future expansion considerations relating to continued growth in Paraguay. Infrastructure projects such as data centers require significant foreign direct investment and a large scale project, such as a 100 MW data center, is expected to generate over $100 million of stable U.S. dollar revenue for the Government's utility company over the next three years.With global demand for Bitcoin on the rise, and the successful launch of U.S.-based ETFs Bitcoin has become adopted and emerges as an attractive alternative asset for investors. As a Canadian public company, HIVE remains committed to full transparency and community engagement, creating local jobs and providing a stable income stream that benefits the national economy.By hiring locally, the Company aims to contrib...