important notes
- The expansion will utilize electricity from Paraguay’s Itaipu Dam, making the site the country’s largest renewable mining facility by 2026.
- Hive’s global hashrate has soared from 6 EH/s to nearly 22 EH/s in 2025 and is on track to reach 25 EH/s by the end of the year.
- Despite the business momentum, Hive’s stock price fell 3.58% on Oct. 21, after a volatile month that saw it jump 28% in a single day in early October.
Hive Digital Technologies has finalized an agreement to build a 100-megawatt hydroelectric data center at its Iguazú location in Paraguay, an important step in its plans to ramp up Bitcoin worldwide. BTC 112 136 dollars 24 hour volatility: 1.3% Market capitalization: $2.24 trillion Vol. 24 hours: $9.377 billion Increase mining capacity to 35 Exahash per second (EH/s) by 2026.
The project is an extension of Hive’s current operations in the region, which began with the acquisition of Bitfarms’ business in Paraguay in January 2025. This increases the total renewable energy mining capacity at the Paraguayan campus to 400MW, making it the largest facility of its kind in the country. The new phase will utilize electricity from Itaipu Dam, which is known for its low electricity costs and minimal carbon footprint.
Business scale and strategic partnerships
According to a statement from Hive, the company is increasing its global Bitcoin mining capacity from 6 EH/s at the beginning of 2025 to just under 22 EH/s as of October, with a target of 25 EH/s by the end of the year.
Construction of the upcoming 100 MW expansion is expected to begin in early 2026, with full commissioning expected to be completed in the third quarter of the same year. In parallel with infrastructure growth, Hive plans to increase its high-performance computing and AI operations by 5x. This trend started in 2024 due to the hype around AI.
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These plans are coupled with strategic collaborations with partners, including Bell Canada, to strengthen our compute footprint and enhance the long-term diversification of our AI workloads.
Impact on local economy and mining leadership
Hive’s move strengthens Paraguay’s position as a Bitcoin mining hub, highlighting both economic and environmental benefits. The Iguazu site is already producing 8.5 BTC per day, supporting local jobs and investment in community infrastructure.
By leveraging renewable energy, Hive maintains low operating costs and helps maintain profitability as competition drives up global hashrate. It is worth mentioning that Hive is one of the few miners that is investing in increasing hashrate, according to Matthew Sigel, head of research at VanEck.
One of the few BTC miners still growing hashrate. https://t.co/za6WkMU9Tf
— Matthew Siegel, CFA Recovering (@matthew_sigel) October 21, 2025
This movement has been fueled by the Paraguayan government’s stance on crypto regulation, which exempts the use of mining energy from taxes until 2027, providing further incentives for such investments. This only applies to regulated mining operations in cryptocurrencies, which are highly reactive to illegal Bitcoin miners.
Stocks down 21% week-on-week despite operational milestones
Hive Digital Technologies’ recent expansion in Paraguay and the completion of new facilities have not had a material impact on stock market performance. According to Yahoo!, the stock price was down 3.58% as of October 21, but in early October 2025 it was up nearly 28% in one day, down more than 21% for the week, and up almost 85% since the beginning of the year. finance.
HIVE Stock Price Chart |Source: Yahoo! Finance
This new milestone not only represents an important step forward for Paraguay’s clean energy sector, but also solidifies its position as a regional hub for mining innovation. This highlights HIVE’s continued commitment to infrastructure development and sustainable progress in Latin America and the Bitcoin mining industry.
Disclaimer: Coinspeaker is committed to providing fair and transparent reporting. This article is intended to provide accurate and timely information but should not be taken as financial or investment advice. Market conditions can change rapidly, so we recommend that you verify the information yourself and consult a professional before making any decisions based on this content.
