Hive Focuses on Paraguay: Clean Energy and Sustainable Growth for Bitcoin Mining
Canadian Bitcoin mining firm Hive Digital Technologies has decided to invest heavily in Latin America , choosing Paraguay as a long-term strategic partner.
According to Aydin Kilic , President and CEO of Hive, Paraguay offers an ideal combination of geopolitical stability , accessible hydropower and openness to foreign investors .
In an interview, Kylych noted that the company's aspirations are not short-term arbitration, but long-term cooperation with this South American country.
Summary
- New Stage for Bitcoin Mining: Paraguay in Focus of Hive Strategy
- Preparing for the Future: Technology, Energy and Human Capital
- A replicable model for the future of mining
New Stage for Bitcoin Mining: Paraguay in Focus of Hive Strategy
In January, Hive made a major strategic move by acquiring a 200-megawatt (MW) facility in Iguazu , previously owned by Bitfarms, for $56 million .
The first phase of the project, which included the construction of a 100 MW data centre , was completed in April.
The center is already operational and delivers five exahashes per second (EH/s) of performance using ASICs (application-specific integrated circuits) to mine Bitcoin.
The company has ambitious plans for the future: by 2025, Hive plans to reach a capacity of 300 MW in Paraguay, and by September to increase the total hashrate to 25 EH/s .
A key aspect of Hive's strategy is integration into the local economic and social fabric.
Kılıç explained that the company spent more than a year building fruitful relationships with all stakeholders in Paraguay , investing in local recruitment , training programs and partnerships with local suppliers .
The goal is to create a local support ecosystem that will keep operating costs low while improving efficiency and business continuity.
Despite some legislative initiatives aimed at restricting cryptocurrency mining in Paraguay due to the impact on electricity supply and the threat of rising energy prices, Hive is actively engaged in dialogue with politicians .
The company aims to contribute to a clear and collaborative regulatory framework that promotes both technological progress and energy sustainability.
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Preparing for the Future: Technology, Energy and Human Capital
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In any case, Hive is not limited to Paraguay. The company already has data centers in Canada and Sweden , and is now moving its headquarters to San Antonio, Texas .
This expansion across multiple continents is part of a geographic diversification strategy aimed at protecting the company from possible geopolitical upheavals or changes in trade policy .
A prime example of this attention is the response to tariffs imposed by the United States on China , which have driven up the cost of mining equipment, particularly ASICs.
To avoid dependence on one region, Hive has diversified its supply channels for both ASICs and electrical components.
To achieve the 25 EH/s target, Hive has already secured key ASIC orders , entered into long-term power purchase agreements , and expanded its engineering capabilities across three continents.
This approach allows the company to more resiliently withstand technological and market uncertainty .
Kylych explained that the profitability of Bitcoin mining is ultimately a physics issue .
Capital and operational expenses need to be assessed based on hashrate, aiming for the best way to fund operations through BTC treasury management and ATM sales .
Even small miners can achieve positive results if they focus on controllable variables , Kılıç said.
Whether it's a single installation or thousands of machines, optimising operating costs , maximising energy efficiency and minimising downtime are all important.
Discipline in financial management is another important element that contributes to the sustainability and growth of a business.
A replicable model for the future of mining
Hive's choice of Paraguay illustrates how Bitcoin mining can grow sustainably by integrating with
Source: cryptonews.net
