Bitcoin Mining Company Hive Digital Significantly Expands Mining Capacity! Here Are the Details

Bitcoin miner Hive Digital Technologies (HIVE) has agreed to purchase a mining site in Paraguay from Bitfarms (BITF) for $85 million, marking a major expansion for the company.

Hive Digital to Triple Hashrate by Buying Paraguay Mining Site from Bitfarms for $85 Million

The deal announced today will more than triple Hive’s hashrate from 6 EH/s to 25 EH/s by September.

Basic Details of Purchase

• Hive will pay $56 million for the site.
• The company will refund $19 million in deposits related to power purchase commitments.
• Another $10 million will cover remaining capital obligations, according to a separate statement from Bitfarms.
• Hive estimates development costs at $400,000 per megawatt (MW) when scaling the 200 MW site.

The purchase follows a volatile trading session for crypto-related stocks, with HIVE shares falling more than 10% to $2.78 on Monday amid a broader market sell-off triggered by DeepSeek’s disruptive AI developments.

However, in pre-market trading on Tuesday, Hive rose 4.68% to $2.91, while Bitfarms rose 4.29% to $1.46.

This move positions Hive Digital for significant growth in mining capacity and strengthens its expansion strategy in a competitive Bitcoin mining environment.

*This is not investment advice.