HIVE Digital Technologies confirmed its significant expansion into Paraguay, with Johanna Thörnblad, Director and President for Sweden, detailing the company's plans. HIVE initially launched a 100MW project in Paraguay and has recently announced an expansion to 420MW, representing a 400% increase in capacity over the next eight months.
Paraguay was selected as a strategic location due to its abundant hydro energy available at competitive rates and a supportive regulatory environment. HIVE believes that establishing data centers there will contribute to Paraguay’s economy while delivering value to shareholders through monthly U.S. dollar payments to the utility company ANDE.
While Paraguay's operations will initially focus primarily on Bitcoin mining, similar to HIVE's facilities in Canada and Sweden, the company is also heavily expanding into AI and high-performance computing (HPC). This expansion underscores HIVE's commitment to green energy and its dual strategy in digital infrastructure.
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