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RETRANSMISSION: HIVE Digital Technologies Announces the Acquisition of Bitfarms' Yguazú, Paraguay Site, a 200 MW Bitcoin Mining Site, Setting the Stage for Substantial Growth to 25 EH/s by September 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":"RETRANSMISSION: HIVE Digital Technologies Announces the Acquisition of Bitfarms' Yguazú, Paraguay Site, a 200 MW Bitcoin Mining Site, Setting the Stage for Substantial Growth to 25 EH/s by September 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. - January 28, 2025) - HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (referred to as the \"Company\" or \"HIVE\"), a global leader in sustainable data center infrastructure, is excited to announce the signing of a binding letter of intent (\"LOI\") with Bitfarms Ltd. to acquire the Yguazú 200 megawatt (\"MW\") hydro-powered Bitcoin mining facility in Paraguay. This acquisition will accelerate HIVE's growth, increasing its global Bitcoin mining hashrate from 6 Exahash per second (\"EH/s\") today, to an anticipated 25 EH/s by September 2025, cementing its position as an industry leader (all amounts in US dollars, unless otherwise indicated). HIVE's enhanced operational capacity in Paraguay will total 300 MW upon completion of this acquisition, bringing its global capacity, including existing facilities in Canada and Sweden, to 430 MW by Q3 2025. This milestone reflects HIVE's commitment to operating entirely on 100% green hydroelectric energy while solidifying its leadership as one of Latin America's largest Bitcoin mining operators.Phased Development PlanThe 200 MW Yguazú site will be developed in two phases:Phase 1: Scheduled for completion by April 1, 2025. Construction is already 80% complete, with essential infrastructure nearing readiness. Phase 1 will add approximately 6 EH/s of capacity, which we expect to have fully hashing in calendar Q2 2025. HIVE will be assuming the remaining payments in this phase, which includes payments to full energization.Phase 2: Expected to complete by August 31, 2025, Phase 2 will add 6.5 EH/s with hydro-cooled ASICs, leveraging advanced efficiency.HIVE estimates the total net costs to complete the site to 200 MW to be $400,000 per MW upon completion.Additionally, HIVE's separate previously announced 100 MW project in Paraguay remains on track for energization by June 2025, which will provide 6.5 EH/s of hashrate from Bitm...