HIVE to expand bitcoin mining capacity in Paraguay as ‘one of the few BTC miners still growing hash rate’

HIVE Digital Technologies announced the expansion of its hydroelectric-powered data-center campus in Paraguay, known as "Phase 3," which will increase its renewable capacity to 400 megawatts. This buildout is scheduled to start in early 2026 and finish by the third quarter, utilizing power from the Itaipú Dam. The company expects this expansion to make the facility the largest of its kind in Paraguay and boost HIVE's global Bitcoin target hash rate to 35 Exahash per second (EH/s) by 2026, a move noted by Matthew Sigel of VanEck as HIVE being "one of the few BTC miners still growing hash rate."

HIVE has already completed Phases 1 and 2 this year, bringing its current output to 300 MW and its total Bitcoin mining capacity to 22 EH/s, up from 6 EH/s at the start of the year, with an expectation to reach 25 EH/s by year-end. Executive Chairman Frank Holmes stated the additional 100 MW provides a path to the 35 EH/s milestone.

Beyond mining, HIVE is diversifying into high-performance computing (HPC), offering Tier 3 data center support for clients like Bell Canada, which CEO Aydin Kilic described as a dual-pronged approach where mining provides "robust cash flow" while HPC diversifies growth. HIVE also maintains an AI operation in Sweden and plans to 5x its HPC capacity in 2026.

(Source：The Block)