Digital Hive has completed the second phase of development of its mining site in Iguazoo, Paraguay, reporting an increase in hashrate to 18 Eh/s. Hive’s COO Luke Rossey emphasized that this goal was achieved at a record time and enrolled in Paraguay in June 2024.
Hive Digital will flourish in Paraguay and reach Bitcoin Mining Milestones at a record time
Hive Digital, a blockchain and artificial intelligence (AI) infrastructure data center operator, has reported the completion of the second phase of its Bitcoin mining site in Yguazú, Paraguay. In a recent press release, Hive Digital said it could reach a mining hashrate of 18 EH/s and exceed 8.5 BTC per day.
The company emphasized that the entire operation, consisting of 200mW, is equipped with hydroelectric energy from Itaimu, one of its largest species.
The Hive emphasized that the goal established on the Yguazú site was the largest installation run by the organization, but the company reached it earlier than expected.
HiveYguazú’s site Bitcoin mining operation is powered by Bitmain S21+ Hydro Asic Miner, which utilizes advanced water-based cooling methods.
Additionally, Hive Digital reported that the work in phase 3 of another installation, the Valenzuela site, was in advanced state, with miners recently shipped to the location, with 100MW already available for use.
This will put Hive Digital in a good position to achieve its goal of breaking the 25 EH/S hashrate mark on Thanksgiving, allowing it to mine an estimated 12 BTC daily based on current difficulty.
“Our focus remains unwavering: we provide strong and sustainable performance, promote sector-leading efficiency through excellent capital revenues and low G&A costs, create lasting value for shareholders, and continue to build a resilient, decentralized Bitcoin infrastructure.
In March, Hive’s executive chairman Frank Holmes designated a 400% increase in production at the time by strengthening the relevance of Paraguay’s business regarding the company’s expansion.
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