HIVE Digital Buys Bitfarms’ Paraguay BTC Mine for $56M
HIVE Digital has finalized the acquisition of Bitfarms’ partially completed 200-megawatt Bitcoin mining facility in Yguazú, Paraguay, for $56 million.The deal includes an upfront payment of $25 million due at closing in the first quarter of 2025, with the remaining $31 million to be paid in six equal monthly installments.According to an announcement HIVE made on January 28, the Yguazú facility will be developed in two stages. Phase 1, which is already 80% finished, is scheduled for completion by April 1, 2025. Once operational in the second quarter, it is expected to add approximately six exahashes per second to HIVE’s Bitcoin mining capacity.As part of the acquisition, HIVE will assume $19 million in pre-existing power purchase agreement deposits that Bitfarms paid to Paraguayan utility ANDE. This aligns with its goal of expanding its Bitcoin mining capacity to 25 EH/s by September 2025.The post HIVE Digital Buys Bitfarms’ Paraguay BTC Mine for $56M appeared first on CryptoPotato.