Expansion Drives Growth

HIVE Digital Technologies is expanding its hydroelectric data center campus in Paraguay, with Phase 3 adding 100MW to reach a total capacity of 400MW, all powered by the Itaipu Dam. The expansion is part of the company's broader target to reach a global Bitcoin mining capacity of 35 EH/s by the end of 2026.

AI and HPC Capabilities

HIVE also plans to build a dedicated AI factory and high-performance computing infrastructure. The company has set a goal of scaling its HPC and AI capabilities fivefold.

Competitive Energy Rates

Paraguay's appeal comes down to the Itaipu Dam, which supplies much of the country's hydroelectric power. That abundance lets HIVE lock in competitive energy rates, a decisive factor in an industry where electricity is often the biggest operating cost.

Energy Resilience

HIVE participates in demand response, which means it can dial its power usage up or down depending on what the grid needs. Gabriel Lamas, HIVE's Country President in Paraguay, has framed the company as a contributor to the nation's energy resilience.

Key Milestones

For investors, the clearest near-term signal is execution. HIVE has hit two phases in 2025, and Phase 3 is the test of whether that pace holds through Q3 2026. Additional capacity at Yguazúa should support the push toward 35 EH/s. The concentration risk is worth watching.

Conclusion

The expansion is a significant step forward for HIVE, and the company's focus on hydroelectric power and AI infrastructure is a promising strategy for the future of the mining sector.