Bitcoin miner HIVE Digital Technologies (CVE: HIVE) (NASDAQ: HIVE) (FSE: YO0) signed an agreement to develop a 100 megawatt hydroelectric powered data-centre at its Yguazú site in Paraguay.
Announced on Monday, the Phase 3 expansion will boost Hive’s renewable capacity to Paraguay to 400 MW. It adds to another 140 MW across Canada and Sweden.
Once complete, it will further increase HIVE’s total renewable capacity to 540 MW across three countries and boost its global Bitcoin mining goal to 35 exahash per second (EH/s) by 2026.
The Yguazú expansion marks the third and final phase of HIVE’s Paraguay project. Additionally, phase 1 began operations in April 2025, followed by Phase 2 in September 2025. Together, these first two stages delivered consistent performance powered entirely by clean hydro energy.
Meanwhile, HIVE’s Executive Chairman, Frank Holmes, said the company’s expansion in Paraguay aligns with its long-term goal of building clean and efficient digital infrastructure.
“We’ve scaled Bitcoin mining from 6 EH/s at the start of the year to nearly 22 EH/s today, on track to reach 25 EH/s by year-end,” Holmes said.
“With the advent of next generation ASIC miners, this additional 100 MW provides a path to a potential 35 EH/s in 2026—a milestone that reflects both our operational excellence and our global growth ambition.”
The company views this milestone as a key step toward scaling its dual-engine business model. These include Bitcoin mining and high-performance computing (HPC) with both powered by sustainable energy sources.
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Hive Digital’s partnership with Bell strengthens AI position
Chief executive officer Aydin Kilic said the new expansion enhances both sides of HIVE’s business. The company’s Tier 1 Bitcoin mining operations provide strong cash flow, while its BUZZ HPC Tier 3 HPC and artificial intelligence (AI) division drives growth in advanced computing.
Led by Craig Tavares, BUZZ HPC focuses on building data centres designed for AI model training, inference, and scientific computing. These facilities also use liquid cooling and are optimized for high-density GPU workloads.
In addition, HIVE’s strategic partnership with Bell Canada strengthens its position in AI infrastructure. Through the Bell AI Fabric initiative, BUZZ HPC integrates with Bell’s national fibre network and data centres to create one of Canada’s leading sovereign AI ecosystems.
This collaboration enables government, research, and enterprise clients to securely access GPU compute clusters powered entirely by renewable energy. Furthermore, HIVE expects to increase its HPC capacity fivefold in 2026 from this partnership and its ongoing Toronto expansion.
Kilic described HIVE’s approach as a “twin-engine model” that combines Bitcoin mining and AI computing. He said this approach positions the company at the crossroads of blockchain and AI, offering stability and long-term growth potential.
Gabriel Lamas, HIVE’s country president in Paraguay, said that local teams are prepared for the Yguazú expansion. Civil works and substation foundations are already complete, allowing construction to move forward without delay. He added that the project strengthens Paraguay’s reputation as a hub for clean energy innovation. It also shows HIVE’s trusted role in the region’s digital infrastructure development.
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