Hive Mining, a company that operates cryptocurrency mining data centers, is expanding its mining capacity in Paraguay to 100 megawatts and has purchased $20 million worth of ASIC mining hardware to upgrade their existing equipment. The company has purchased 6,500 Canaan Avalon A1566 rigs, which will increase their mining capacity and provide outstanding rates of return in both bear and bull market conditions.
Construction work has already begun on the mining site, and 30MW of mining capacity is expected to be available by early Q2 2025, bringing Hive’s total hashrate capacity to 8EH/s by the end of Q2 2025.