Crypto miner HIVE Digital to double revenue with 100MW center in Paraguay

Crypto mining company HIVE Digital has unveiled plans to construct a 100MW mining facility in Paraguay, which it aims to use to increase its revenue. The project is expected to generate over $100 million in stable USD revenue for the Paraguayan government-owned utility company. HIVE Digital’s executive chairman, Frank Holmes, believes this endeavor will add an extra 6.5 Exahash per second to the firm’s global Bitcoin mining operations, taking its total resources to 12.1 EH/s. In tandem with this expansion, the company has also purchased 500 additional Bitmain S21 Pro Antminers to maintain its equipment upgrade schedule. Moreover, HIVE Digital’s crypto holdings have risen to 2,503 BTC, resulting in a 2% increase from the previous month. This news has led to a surge in the company’s shares, with a recorded increase of more than 13% on Nasdaq.