According to ChainCatcher, mining company Hive Digital announced that it would spend $60 million to enter Paraguay.
Hive Digital has purchased 13,480 new mining machines to expand its operations in the South American country. The deal will help the company capture 2% of the global Bitcoin network.
Executive Chairman Frank Holmes said that when fully deployed, scaling to 15 EH/s would push Hive’s annual revenue to more than $300 million and generate more than $200 million in mining profits.