HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE) announced the full completion of Phase 1 infrastructure at its 100-megawatt (MW) Bitcoin mining facility in Yguazù, Paraguay.
The company said on Monday that the facility is now energized and ready to scale, backed by a 200 MW substation.
The buildout supports 5 exahash per second (EH/s) of application-specific integrated circuit (ASIC) mining capacity.
The company is currently running 200 petahashes of hashrate at the site using its proprietary BUZZ Miners, with 8,000 units expected to be fully online by the end of April.
Initial deliveries of Bitmain S21+ miners to the site have begun, with over 20,000 units expected to arrive by the end of May.
HIVE chief operating officer Luke Rossy said the company is targeting 25 EH/s by Fall 2025, translating to more than 12 Bitcoins mined daily at current network difficulty.
"With 100 MW of infrastructure complete, we're now racking and energizing machines," Rossy said. "It's exciting to see the momentum build."
HIVE CEO Aydin Kilic said the company has secured deposits for 4.3 EH/s of Bitmain S21+ miners, which he noted was funded through disciplined treasury management.
“Our fiscal year-end marked a strategic pivot — no debt, just smart execution,” Kilic said. “Our expansion from 6.5 EH/s to 11.5 EH/s has been paid and we're moving fast.”
Shares of HIVE gained around 1.6% on Monday morning in New York.
Strategic hire
As part of its expansion, HIVE has appointed Carlos Anibal Torres Pérez as Operations & Project Manager for Paraguay.
Torres brings over 15 years of experience in infrastructure and energy systems, having led multiple digital and energy projects in the country.
“As Operations & Project Manager, I'll ensure we set new standards and deliver results that speak for themselves,” Torres said.
"This is the moment to move fast, think boldly, and execute with precision. Paraguay has the talent, energy, and vision to lead, and HIVE recognized that. This is more than a buildout — it's a foundation for the digital future.”
Further, HIVE announced incentive grants of nearly 2.8 million Restricted Share Units (RSUs) issued to employees, officers, directors, and consultants. These RSUs are subject to a one-year minimum vesting period.