HIVE Digital Technologies (TSX-V:HIVE, NASDAQ:HIVE, FRA:YO0, BVC:HIVECO) chief financial officer Darcy Daubaras spoke with Proactive about the company’s latest move to expand cloud computing and high performance computing operations in Paraguay, building on the company’s existing Bitcoin mining footprint in the country.
Daubaras explained that securing energy, land, capital, and long-term partners is central to HIVE Digital Technologies’ strategy, and Paraguay has emerged as an attractive jurisdiction as the company continues to scale.
With Bitcoin mining operations already established, the expansion into high performance computing represents a natural progression for the company.
Proactive: Welcome back inside our Proactive newsroom, and joining me now is Darcy Daubaras, Chief Financial Officer of HIVE Digital Technologies. Happy New Year.
Darcy Daubaras: Happy New Year to you too, and all of your followers.
The company has announced an increase in cloud computing in Paraguay. Is this a natural progression?
Absolutely. As a Bitcoin miner, securing energy, land, capital, and partners is key. Paraguay has become a very attractive jurisdiction for us, and with our existing Bitcoin mining facilities, this is a natural extension into high performance computing.
How important is the partnership in Paraguay?
We’ve partnered with one of the largest telecommunications providers in Paraguay. It’s very symbiotic between Bitcoin mining and tier three high performance computing data centres, and energy is at the core. The availability of dark fibre is also critical.
What about demand compared with North America?
There aren’t many tier three facilities in Latin America. Institutions such as research facilities, education providers, and hospitals want data to stay within their jurisdiction, and there’s strong demand for that locally.
Does your existing footprint provide an advantage?
Yes. We’ve been in Paraguay for over a year, built 300MW, and have strong relationships with energy providers and government. That gives us stability and credibility in the ecosystem.
How quickly can this be rolled out?
Working with a major telecom provider allows us to test demand quickly and scale responsibly, converting facilities only when it makes economic sense.
Quotes have been lightly edited for style and clarity