Why Paraguay Is Bitcoin’s Next Mining Powerhouse—HIVE’s 25 EH/s Plan Exposed

• HIVE Digital aims to boost Bitcoin hashrate by 400% by 2025 using Paraguay’s hydroelectric power, targeting 25 EH/s by September 2024.
• Paraguay’s 300 MW expansion integrates Bitcoin mining and AI compute hubs, positioning HIVE at the forefront of dual-sector growth.

HIVE Digital plans to increase its Bitcoin mining hashrate by over 400% by 2025, leveraging Paraguay’s hydroelectric surplus from the Itaipu Dam. CEO Frank Holmes confirmed the expansion during a recent earnings call, citing access to low-cost renewable energy as the catalyst for scaling operations.

HIVE is built for sustainability, harnessing clean hydroelectric power to mine Bitcoin.

Our President & CEO @aydinkilic takes you inside Paraguay’s iconic Itaipu Dam. An engineering marvel nearly 8 kilometers long, it will provide renewable power for our strategic expansion in… pic.twitter.com/9THpnPdMiX

— HIVE Digital Technologies (@HIVEDigitalTech) March 14, 2025

In early 2024, HIVE acquired a 200-megawatt (MW) Bitcoin mining facility in Yguazú, Paraguay, which will raise its global hashrate from 6 exahashes per second (EH/s) to 25 EH/s by September 2024. Holmes stated the company’s hashrate will grow “triple-fold” in the next nine months, driven by Paraguay’s energy surplus.

The Itaipu Dam, co-owned by Paraguay and Brazil, provides HIVE with competitively priced electricity after both nations renegotiated a tariff agreement in May, lowering rates to $10–$12 per megawatt-hour (MWh).

“Paraguay doesn’t consume its full energy quota from Itaipu. By utilizing it, we generate USD revenue for their government while building local infrastructure,” Holmes explained.

The dam, spanning eight kilometers, supplies emission-free power, aligning with HIVE’s focus on sustainable mining.  In February 2024, HIVE mined 89 BTC, raising its holdings to 2,620 BTC (valued at $220 million). Daily production averaged 3.2 BTC, peaking at 6.2 EH/s. The Paraguay expansion aims to quadruple this output.

HIVE is constructing a 100 MW data center in Paraguay, set to operate by late 2024, with total capacity reaching 300 MW by 2025. Holmes linked the growth to two sectors: Bitcoin mining and AI compute.

“We’re aligning leadership with strategic trends reshaping global industries,” he added.

The revised Itaipu agreement allows Paraguay to sell excess energy to Brazil at reduced tariffs, eliminating ancillary fees. This directly benefits miners like HIVE, which operate on thin margins. By securing fixed-rate hydropower, HIVE gains a cost edge over competitors reliant on volatile energy markets.

“As we continue to expand and strengthen our executive team, we are aligning top-tier leadership with our strategic focus on two of the most transformative trends of our time: Bitcoin and AI,” explained HIVE Digital’s CEO in his latest report.

Paraguay’s hydro resources position HIVE to scale efficiently amid rising Bitcoin network difficulty. The firm’s model—combining renewable energy, modular infrastructure, and strategic reserves—could set a benchmark for sustainable mining in latency-sensitive markets.

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