HIVE Digital Will Build a 100 MW Mining Center in Paraguay
Date: 2024-07-24 Author: Oliver Abernathy Categories: IN WORLD
HIVE Digital, one of the leading companies in the cryptocurrency mining industry, has announced its plans to build a new mining center in Paraguay. The future facility is expected to have a capacity of 100 MW and will use clean energy from the Itaipu Dam.
The construction of a mining center in Paraguay is in line with HIVE Digital's growth strategy and confirms the company's commitment to expanding its global presence. Previously, HIVE Digital has already built mining centers in Canada, Iceland and Sweden. The new facility in Paraguay will be an important addition to this list.
Green Energy
The use of clean energy is a key aspect of the project. The new mining center will be powered by the Itaipu hydroelectric dam, one of the largest in the world. This will allow the company to significantly increase its capacity while remaining an environmentally responsible player in the market.
HIVE Digital CEO Frank Holmes noted that the new facility will increase the company's capacity by 6.5 EH/s, bringing the total to 12.1 EH/s. This will significantly increase HIVE Digital's performance and competitiveness in the cryptocurrency mining market.
The company's official release emphasizes that the construction of a mining center in Paraguay will bring long-term benefits by promoting economic growth and innovation in the region. This project could be a catalyst for developing the local economy and creating new jobs.
Financial Indicators
HIVE Digital also reported an increase in its Bitcoin holdings to 2,521 BTC. With the current price of the first cryptocurrency being $66,900 per 1 BTC, the company’s crypto assets are valued at $168.6 million. The company’s shares, trading on NASDAQ under the ticker symbol HIVE, closed at $4.5 on July 22, 2024, showing an increase of 8.4% over the past day. This month, the company's securities are showing positive dynamics.
In October 2023, Bitcoin miner Sazmining launched Paraguay's first green mining farm using 100% renewable energy. HIVE Digital's new facility, also located at Itaipu Dam, will be an important competitor in this eco-friendly segment of the cryptocurrency mining market.
HIVE Digital's plans to build a new 100 MW mining center in Paraguay highlight their commitment to environmentally friendly and efficient cryptocurrency mining solutions. This move will not only strengthen the company's position in the global market, but will also contribute to the economic development of the region, demonstrating the importance of sustainable and innovative approaches in the modern cryptocurrency industry.
