Hive Digital Technologies to Acquire Paraguay Site from Bitfarms for $85 Million
Hive Digital Technologies (HIVE) will acquire a bitcoin mining site in Yguazú, Paraguay from Bitfarms (BITF) for a total of $85 million. The deal includes:
- Purchase price of $56 million
- Reimbursement of $19 million for power-purchase commitments
- Payment of $10 million for remaining capital obligations
This acquisition will increase Hive's hashrate to 25 exahash per second (Eh/s) by September 2025. The development cost for the 200 MW site is estimated at $400,000 per MW.
Following market fluctuations, HIVE shares rose by 4.68% to $2.91 in pre-market trading.