According to ChainCatcher, the mining company Hive Digital announced it spent $60 million to enter Paraguay.
Hive Digital purchased 13,480 new mining machines to expand its business in South America. This deal will help the company capture 2% of the global Bitcoin network.
Executive Chairman Frank Holmes stated that after full deployment, expanding to 15 EH/s would drive Hive's annual revenue over $300 million and yield more than $200 million in mining profits.