TL;DR
- HIVE Digital Technologies will build a new 100 MW hydroelectric data center in Yguazú, raising its capacity to 400 MW.
- The company currently operates at 22 EH/s and expects to reach 25 EH/s by year-end, with a target of 35 EH/s for 2026.
- It will also strengthen its BUZZ HPC division to increase computing capacity fivefold in 2026.
HIVE Digital Technologies is expanding its Bitcoin mining capacity in Paraguay with the construction of a new 100-megawatt hydroelectric data center in the city of Yguazú.
The project, called Phase 3, will bring the company’s renewable infrastructure in the country to 400 MW and will be the largest facility of its kind powered by energy from the Itaipú Dam. Construction is set to begin in early 2026 and be completed in the third quarter of that year.
HIVE: A Rare Exception in the Industry
The company currently operates at 22 exahash per second (EH/s), up from 6 EH/s at the start of 2025, and expects to close the year at 25 EH/s. Its 2026 target of 35 EH/s would place it among the world’s leading Bitcoin miners. According to VanEck, HIVE is one of the few companies in the sector still growing its hash rate.
Phases 1 and 2 of the project were completed in April and September, adding the first 300 MW of capacity. Once the new phase is completed, the company will have 540 MW of renewable infrastructure across Paraguay, Canada, and Sweden. HIVE holds approximately 2,201 BTC valued at about $250 million and currently ranks as the sixth-largest public Bitcoin miner in North America.
Other Businesses on the Horizon
Executive chairman Frank Holmes said the additional 100 MW “provides a clear path toward 35 EH/s,” aligning with the company’s operational goals and growth outlook. The expansion is powered by low-cost hydroelectric energy, a key component of HIVE’s sustainable growth strategy.
Beyond mining, the company is also investing in its high-performance computing (HPC) business through its BUZZ HPC division, which focuses on Tier 3+ liquid-cooled data centers for artificial intelligence model training and scientific computing. In partnership with Bell Canada, HIVE is integrating its infrastructure with Bell’s fiber network and data centers to create a sovereign AI ecosystem. The company expects to increase its HPC capacity fivefold in 2026
