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HIVE Digital Technologies Completes Acquisition of Paraguay's Yguazú Site, Expanding Mining Capacity By 317%-From 6 EH/s to 25 EH/s in 2025
This news release constitutes a "designated news release" for the purposes of the Company's prosp...
About this update from Hive Digital Technologies Ltd
[{"type":"text","content":"HIVE Digital Technologies Completes Acquisition of Paraguay's Yguazú Site, Expanding Mining Capacity By 317%-From 6 EH/s to 25 EH/s in 2025This news release constitutes a \"designated news release\" for the purposes of the Company's prospectus supplement dated October 3, 2024 to its short form base shelf prospectus dated September 11, 2024.San Antonio, Texas--(Newsfile Corp. - March 18, 2025) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (the \"Company\" or \"HIVE\"), a global leader in sustainable data center infrastructure, is thrilled to announce the closing of its acquisition of Bitfarms Ltd.'s Yguazú 200-megawatt (\"MW\") hydro-powered facility in Paraguay. This strategic expansion marks a 317% increase in mining capacity, propelling HIVE from 6 Exahashes per second (\"EH/s\") today to a projected 25 EH/s by September 2025.With this acquisition, HIVE now has a total of 300 MW of mining infrastructure in Paraguay, including its previously announced 100 MW project in Valenzuela, which is set for energization by June 2025. The company's global operational footprint will grow to 430 MW by Q3 2025, spanning Paraguay, Canada, and Sweden.This milestone reinforces HIVE's commitment to 100% green hydroelectric energy while establishing itself as a dominant force in high-performance computing in Latin America. Paraguay provides low-cost hydroelectric power, a stable regulatory environment, and competitive operational costs, making it an ideal location for HIVE's rapid expansion.Phased Development Plan for 200 MW Yguazú SiteThe 200 MW Yguazú facility will be developed in two phases:Phase 1: Expected completion by April 1, 2025. Construction is 80% complete, with infrastructure nearly ready. This phase will add approximately 6 EH/s of hashrate, expected to be fully operational by Q2 2025. HIVE will assume the remaining payments for full energization.Phase 2: Expected completion by August 31, 2025. This phase will contribute 6.5 EH/s using hydro-cooled ASICs, enhancing efficiency and performance.To achieve its ambitious 25 EH/s target, HIVE has secured ASICs for 15 EH/s of operational hashrate (including HIVE's existing 6.5 EH/s installed by March 2025 and the 8.6 EH/s order of Bitmain S21+ Hydro ASICs, announced in November 2024). Additional ASIC acquisitions will be announced in the coming...