Canadian Bitcoin mining company Hive Digital has completed its Paraguay flagship facility with the aim of reaching 25 EH/s by fall 2025.
Hive Digital shares rose 2% in pre-market trading on April 21 as Canada’s Bitcoin (BTC) mining company announced the completion of phase 1 infrastructure at its 100 megawatt facility in Paraguay. In a press release on Sunday, Hive Digital said its Yguazù site is fully energised and equipped and has the ability to host five Exahashes per second for ASIC miners.
Hive is already running a hashrate of 200 pH/s using its in-house buzz miner, and expects 8,000 units to be online by the end of April. Early streams of Bitmain S21+ Miners begin to arrive, with over 20,000 units expected by the end of May, the press release reads.
“As of March 31, we have secured a 4.3 EH/s deposit of Bitmain S21+ miners funded through trained financial management. The end of the fiscal year marked a strategic pivot.
Aydin Kilic, CEO of Hive Digital
You might like it too: Hive Digital has completed acquisition of Paraguay’s Yguazú site and is seeking a 317% mining boost
By the end of Q2, Hive aims to scale globally to 11.5 EH/s in Paraguay. As stated by Luke Rossy, Chief Operating Officer of Hive Digital, the company aims to reach 25 EH/s by fall 2025 and produce 12 BTC daily.
With construction completed, Hive Digital also announced new recruit Carlos A. Torres Pérez as Operations and Project Manager in Paraguay. Hive Digital says Paraguay has the “talent, energy and vision” leading the crypto mining market, and the Canadian mining giant “recognizes that.”
read more: Hive Digital Shares rise as Bitcoin reserves increase by 23%
