{"id":128764,"date":"2025-05-07T11:19:21","date_gmt":"2025-05-07T11:19:21","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=128764"},"modified":"2025-05-07T11:19:21","modified_gmt":"2025-05-07T11:19:21","slug":"hive-taps-paraguay-for-stable-and-low-cost-energy-partnership","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=128764","title":{"rendered":"HIVE taps Paraguay for stable and low-cost energy partnership"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsSeveral crypto-focused organizations \u2014 including Bitcoin (BTC) mining companies \u2014 are eyeing a US return, primarily driven by uncertain geopolitical tensions. Still, BTC miner Hive Digital Technologies is doubling down on the untapped potential of the Latin American market.<br \/>\nIn an exclusive interview with Cointelegraph, Hive Digital Technologies\u2019 president and CEO, Aydin Kilic, said that Paraguay presents a compelling long-term opportunity equipped with \u201cgeopolitical stability, low-cost hydro energy, and a government open to foreign investment\u201d.<br \/>\nPicking up from where Bitfarms left off<br \/>\nHive acquired Bitfarms\u2019 200 megawatt (MW) Yguaz\u00fa facility for $56 million in January. Phase 1 infrastructure of a 100 MW data center at the site was completed in April, supporting 5 EH\/s of Application-Specific Integrated Circuit (ASIC) mining.<br \/>\nHIVE plans to expand to 300 megawatts (MW) of mining facilities in Paraguay in 2025. It aims to increase the hashrate to 25 exahash per second (EH\/s) by September.<br \/>\nRelated: Bitfarms sells Paraguay site to Hive for $85M, refocuses on US<br \/>\nThe CEO said HIVE has spent over a year cultivating strong, cooperative relationships with local stakeholders in Paraguay. \u201cWe are investing in local hiring, training programs, and strong vendor partnerships. Our goal is to create a local ecosystem of support that keeps costs stable while boosting uptime and efficiency,\u201d he added.<br \/>\nWhile there was a proposed ban on crypto mining in Paraguay due to the pressure it poses on the country\u2019s electricity supply and potential rising electricity prices, Aydin said that their team is actively involved with policymakers to support clarity and cooperation in mining legislation.<br \/>\nHIVE embraces global diversification to hedge against geopolitical risks<br \/>\nHIVE has data centers in Canada, Sweden and Paraguay. Contrasting with its ongoing LATAM expansion, the miner is relocating its headquarters to San Antonio, Texas.\u00a0<br \/>\n\u201cOur growing presence in North and South America creates a balanced footprint resilient to geopolitical or trade policy shocks,\u201d Kilic said.<br \/>\nThe US tariff on China raised concerns about the rising cost of mining equipment, like ASICs. Kilic told Cointelegraph that they have diversified sourcing channels for ASICs and electrical components to avoid single-region dependencies.\u00a0<br \/>\nRelated: Bitcoin miners should pay costs in depreciating currency \u2014 Ledn exec<br \/>\nTo ensure scaling from 6 to 25 EH\/s, the CEO said they have locked in key ASIC orders, secured power access through long-term PPAs and expanded engineering capacity across three continents to deal with market and technological uncertainties.<br \/>\nProfitability in Bitcoin mining is ultimately a physics equation<br \/>\nKilic sees Bitcoin mining profit as a physics equation. He told Cointelegraph that capital and operational expenses depend on hashrate-sensitive analysis to seek the most accretive way to fund their business through BTC treasury and ATM sales.<br \/>\nWhile the solo mining community may have more difficulty making profits, the CEO suggested the focus should be on the variables it can control: \u201cWhether you run one rig or ten thousand, it comes down to controlling inputs like opex, power costs, and machine uptime to drive predictable outputs \u2014\u00a0 maximizing energy efficiency, minimizing downtime and being disciplined with treasury management.\u201d<br \/>\nMagazine: Korea to lift corporate crypto ban, beware crypto mining HDs: Asia Express<a href=\"https:\/\/cointelegraph.com\/news\/hive-digital-expands-bitcoin-mining-paraguay-latam?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsSeveral crypto-focused organizations \u2014 including Bitcoin (BTC) mining companies \u2014 are eyeing a US return, primarily driven by uncertain geopolitical tensions. Still, BTC miner Hive Digital Technologies is&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128764"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128764"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128764\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128764"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128764"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128764"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}