Hive Digital is expanding its operations to Paraguay for the first time. The Bitcoin miner has big plans to build a 100-megawatt mining facility in Paraguay, powered by the nation’s Itaipu hydroelectric dam. This expansion is expected to more than double its mining hashrate, showing huge potential for growth in the region. The energy for this facility will be sourced from the hydroelectric dam, providing not only sustainable power but also economic opportunities for the region.

However, there are some challenges on the horizon as Paraguay plans to increase electricity costs for legal cryptocurrency miners. Despite this, Hive Digital remains confident in the venture and aims to generate over $100 million for the country's electricity grid operator over the next three years. By hiring local employees, the company is committed to fostering economic growth and innovation in Paraguay.

This exciting venture marks Hive Digital's presence in its fourth country, following successful operations in Canada, Iceland, and Sweden. With the recent acquisition of 500 Bitmain S21 Pro Antminers, the company is poised for further growth and success. Stay tuned for more updates on this remarkable journey!

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