HIVE Doubles Down on Paraguay's Hydropower for Bitcoin Mining Expansion
HIVE Digital Technologies is doubling down on Paraguay as the centerpiece of its Bitcoin mining expansion. The company's newly appointed country site president, Gabriel Lamas, has outlined a vision built on clean energy, disciplined growth, and operational leadership in one of South America's most energy-rich nations.
The country sits downstream from the Itaipú Dam, one of the largest hydroelectric power plants on the planet. HIVE operates two major facilities in the country: a 200 MW site at Yguazú, acquired in early 2025, and a 100 MW facility at Valenzuela, completed the same year.
Combined, that's 300 MW of hydroelectric-powered mining capacity. Paraguay generates far more hydroelectric power than its domestic economy can absorb, creating a surplus energy often referred to as 'stranded' power. Bitcoin mining fits this gap almost perfectly.