HIVE Targets 5 EH/s Bitcoin Hashrate Boost with Paraguay Site by Q2

HIVE expects to add 5 EH/s of Bitcoin hashrate to its fleet by the end of Q2 2025, following the completion and energization of Phase 1 at its recently acquired Yguazú data center in Paraguay.

Phase 1 includes 100 megawatts (MW) of air-cooled infrastructure, backed by a fully operational 200 MW substation, HIVE said in a release on Monday. The site was originally developed by Bitfarms (NASDAQ: BITF) and acquired by HIVE earlier this year in a $65 million transaction.

HIVE is currently running 200 petahash per second (PH/s) of hashrate at the site using the Buzz miners powered by Intel chips. The company expects to deploy 8,000 of these units by the end of April. In parallel, shipments of Bitmain’s latest-generation S21+ ASIC miners have begun arriving, with more than 20,000 machines slated for delivery by the end of May.

Once fully deployed, the expansion is expected to more than double HIVE’s total hashrate from 6.5 EH/s to 11.5 EH/s by the end of the quarter. Chief Operating Officer Luke Rossy said HIVE aims to scale to 25 EH/s by the fall, which would yield more than 12 BTC per day at current network difficulty.

To support its growing footprint in Paraguay, HIVE has appointed Carlos A. Torres Pérez as Operations and Project Manager. An engineer with more than 15 years of experience in power systems and industrial infrastructure, Torres will work with the local leadership team to drive expansion at the Yguazú site.