According to a message from ChainCatcher reported by Decrypt, mining company Hive Digital announced it is spending $60 million to enter Paraguay.
Hive Digital announced that it has purchased 13,480 new mining machines to expand its operations in the South American country. The deal, valued at over $60 million, will help the company capture 2% of the global Bitcoin network. The Bitmain Antminer S21+ Hydros offers a hash rate of 4.3 exahashes per second (EH/s).
Executive Chairman Frank Holmes stated that once fully deployed, the expansion to 15 EH/s will 'drive Hive's annual revenue to over $300 million and generate over $200 million in mining profits' based on current mining economics.