Green Bitcoin Mining Revolution: Hive Digital Buys Bitfarms’ Paraguayan Site for $85M! 🌍💸

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In a plot twist worthy of a space opera, Hive Digital Technologies has decided to purchase Bitfarms’ largest mining facility in Paraguay. Adventure beckons! The 200 MW Yguazu site, a crowning jewel in Bitfarms’ shimmering hoard of international operations, will be scooped up by Hive for an interstellar sum of $85 million. 🪐👾

Hive, perpetually dabbling in both cryptocurrency mining and artificial intelligence, has laid out its grandiose plans alongside this shiny new purchase. By the third quarter of 2025, Hive dreams of reaching a speed limit-busting 25 exahashes per second (EH/s) — about 3% of the global Bitcoin mining network! And here’s the kicker: the whole scheme will be powered entirely by green energy. Sustainability goals? Checked off with a green, eco-friendly pen. 🌿⚡

Once the acquisition is polished off, Hive’s capabilities in Paraguay will gleam at a total of 300 MW, and globally, they aim to flash their 430 MW badge by September’s end. To top it off, Hive Digital’s executive chairman Frank Holmes, not wanting to miss out on the excitement, chimed in:

“Paraguay’s political stability, reinforced by President Santiago Peña’s recent presence at President Trump’s inauguration, highlights the country’s alignment with US economic growth priorities.” Ah, politics and Bitcoin, a duet as timeless as a Vogon poetry reading.🚀🌌

Bitfarms Shifts Focus to North American Market

Bitfarms, however, is doing a bit of a cosmic maneuver. No, they’re not retreating with their tails between their legs! Even though they’re parting ways with the Yguazu site, they will still maintain a snug little presence in Paraguay with two other mining outposts — Villarrica and Paso Pe — a modest combined force of 80 MW. 🏰🔋

The treasure chest from this sale boosts Bitfarms’ audacious plans to expand in the US, steering their focus toward a colossal 1 GW expansion, both for Bitcoin and high-performance computing (HPC) infrastructure. By year’s end, Bitfarms wants a shiny new portfolio with 80% of its operations anchored in North America and 20% scattered across the stars. 🌟🔧

The crypto mining industry, always on the lookout for a cosmic alignment, believes the regulatory shifts under the crypto-friendly President Donald Trump might just be the ticket to a golden age. 🚀📈

Bitfarms is not just about Paraguay, though. Their intergalactic mining federation includes holdings in Canada, the United States, and Argentina, with power stats of 158.5 MW, 17.5 MW, and 54 MW respectively. They have quite the armada, don’t they? 🎛️🪐

Hive’s Growth

Hive’s journey to the stars doesn’t stop there. With over 2,800 BTC safely nestled in their balance sheet by the close of 2024, it’s a meteoric 64% increase from the previous year. 🚀💰

And for the grand finale in December, they shifted their headquarters from Vancouver, Canada, to the vibrant cosmos of San Antonio, Texas. In the grand scheme of things, it’s a play to capture the dynamic energies of the US market. 🌍🏢

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2025-01-28 15:20