Paraguay’s Hydro Power Fuels Hive’s Bold Expansion in Bitcoin Mining

As global crypto companies reconsider their U.S. strategies due to rising geopolitical tensions, Hive Digital Technologies is betting on Latin America — specifically Paraguay — as its next growth frontier.

CEO Aydin Kilic highlighted Paraguay’s political stability, low-cost hydro energy, and openness to foreign investment as reasons for the move. Hive recently acquired Bitfarms’ 200 MW Yguazú facility for $56 million, completing the first 100 MW phase in April. The company plans to scale to 300 MW and 25 EH/s by 2025.

Hive has spent over a year building local partnerships, launching training programs, and hiring locally to support long-term operations. While Paraguay has debated mining restrictions due to energy concerns, Hive is working with policymakers to shape a supportive regulatory environment.

Despite its LATAM focus, Hive is also moving its headquarters to San Antonio, Texas.

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With sites in Canada, Sweden, and now Paraguay, Kilic says the company is diversifying geographically to hedge against global risks. Hive has also secured diversified ASIC supply lines, long-term power deals, and expanded engineering capacity across continents.

According to Kilic, mining success is rooted in managing core variables: costs, power use, and machine uptime. “Whether you run one rig or ten thousand, it’s about efficiency and discipline,” he said.

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.