Crypto

HIVE Digital acquires 6500 ASIC miners, starts Paraguay facility construction

HIVE Digital introduced two vital developments on Nov. 10: the acquisition of 6,500 new Canaan Avalon A1566 ASIC miners and the development of a 100-megawatt mining facility in Paraguay.

Based on an organization release, HIVE has ordered 6,500 ASIC miners from Canaan Inc., with every unit able to producing 185 terahashes per second at a extra energy-efficient price in comparison with its older machines.

In Bitcoin mining, “hashrate” refers back to the processing energy wanted to unravel advanced calculations that safe the community and confirm transactions. Larger hashrates usually imply better mining energy and the potential to mine extra Bitcoin (BTC).

The brand new machines will likely be delivered in batches, with the primary 500 anticipated this week and the remaining scheduled for early 2025. These upgrades will improve HIVE’s whole mining capability to six exahashes per second by March 2025, boosting the corporate’s general power effectivity.

Hive’s inventory traded by over 15% in intraday buying and selling.

Paraguay facility

Along with the ASIC improve, HIVE has begun building on a brand new 100 MW facility in Paraguay. This location, which is deliberate to function on renewable power, aligns with HIVE’s dedication to sustainable mining. 

By early Q2 2025, the primary 30 MW of capability (about 2 EH/s) is anticipated to be operational. As soon as the total 100 MW is on-line by late 2025, HIVE’s whole hashrate might attain 12.5 EH/s.

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