HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE) has signed an agreement to develop an additional 100-megawatt (MW) hydroelectric-powered data center campus at its Yguazú site in Paraguay.
The new development, referred to as Phase 3, will lift HIVE’s total renewable capacity in Paraguay to 400 MW, powered entirely by hydroelectric energy from the Itaipú Dam.
Once completed, it is expected to be the largest facility of its kind in the country and boost HIVE’s global Bitcoin mining target to 35 exahash per second (EH/s) by 2026.
Construction on the 100 MW addition is set to begin in early 2026, with full commissioning targeted for the third quarter of that year.
The expansion follows the completion of the 300 MW Phase 1 and 2 developments, expected in April and September 2025, respectively.
"Our expansion in Paraguay reinforces HIVE's long-term vision: scaling sustainable, low-cost digital infrastructure powered entirely by renewable energy,” said executive chairman Frank Holmes.
“We’ve scaled Bitcoin mining from 6 EH/s at the start of the year to nearly 22 EH/s today, on track to reach 25 EH/s by year-end. Our expansion in Paraguay reinforces HIVE's long-term vision: scaling sustainable, low-cost digital infrastructure powered entirely by renewable energy.”
The project will bring HIVE’s total renewable infrastructure footprint to 540 MW across three countries — 400 MW in Paraguay and 140 MW spread across Canada and Sweden.
HIVE CEO Aydin Kilic said the expansion strengthens both pillars of the company’s business: Bitcoin mining and high-performance computing (HPC) for AI workloads. The company’s BUZZ HPC division, led by Craig Tavares, is focused on building Tier 3+ liquid-cooled data centers for AI model training and scientific computing.
Through its partnership with Bell Canada, HIVE’s BUZZ HPC infrastructure is being integrated with Bell’s national fiber network and data centers to create what the company describes as one of Canada’s most advanced sovereign AI ecosystems. HIVE expects this collaboration to help it quintuple HPC capacity by 2026.
For 2026, HIVE said it aims to surpass 35 EH/s in Bitcoin mining capacity while scaling its HPC operations fivefold to support large-language model training, AI inference, and sovereign AI compute for government and enterprise clients.