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Hive Digital Technologies spends $56 million to acquire Bitfarms mining site.
The company is planning a two-phase development approach for its new mining site.
HIVE Digital making headlines with its new acquisition of Bitfarms’ 200-megawatt Bitcoin mining farm located in Yguazú, Paraguay. The business is expanding its crypto-mining operations at a significant level through this acquisition.
The strategic acquisition will propel company growth while expanding Bitcoin mining hash rate capabilities to 25 EH/s by September 2025 according to the press release. 
HIVE Digital invested $56 million to purchase the Paraguay mine from Bitfarms. The acquisition provides HIVE Digital with a 240 MVA substation which offers 200 MW of capacity together with its associated infrastructure and other facilities.
HIVE Digital’s Two-Phase Development Plan
The HIVE Digital is planning a two-phase development approach for the 200 MW Yguazú site. Phase one is scheduled for completion by Apr

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