Vancouver, British Columbia–(Newsfile Corp. – July 22, 2024) – HIVE Digital Technologies Ltd. (TSXV: HIVE) (NASDAQ: HIVE) (FSE: YO0) (“HIVE” or the “Company”), a leading digital asset miner and “green”-focused data center builder and operator, today announced its plans for constructing a 100 megawatt (“MW”) digital asset mining operation in Paraguay.
After touring the country and meeting with President Santiago Peña and his senior cabinet ministers, HIVE endorses his vision for a business-friendly Paraguay (all amounts in US dollars, unless otherwise indicated) . Frank Holmes, HIVE’s Executive Chairman stated: “We are thrilled to announce our plan for a 100 MW project in Paraguay, utilizing green and clean energy sourced from the Itaipu hydroelectric dam. This potential opportunity is expected to add up to an additional 6.
5 Exahash per second (EH/s) to our Bitcoin mining operations, increasing our global EH/s to 12.1 EH/s. This represents a significant milestone in our diversified growth strategy and supports our commitment to expanding our global footprint with data center operations in Canada, Sweden, Iceland and now Paraguay.
We are confident that this venture can deliver healthy returns and drive long-term value, fostering economic growth and innovation in the region.” Stability in government fiscal policies, such as energy pricing and taxation, will be a key factor in our future expansion considerations relating to continued growth in Paragu.