HIVE taps LATAM for stable and low-cost energy partnership
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HIVE Digital Technologies president and CEO Aydin Kilic said HIVE is not engaging in short-term regional arbitrage but sees Paraguay as a long-term clean energy partner.
Several crypto-focused organizations — including Bitcoin (BTC) mining companies — are eyeing a US return, primarily driven by uncertain geopolitical tensions. Still, BTC miner HIVE Digital Technologies is doubling down on the untapped potential of the Latin American market.
In an exclusive interview with Cointelegraph, HIVE Digital Technologies’ president and CEO, Aydin Kilic, said that Paraguay presents a compelling long-term opportunity equipped with “geopolitical stability, low-cost hydro energy, and a government open to foreign investment”.
HIVE acquired Bitfarms’ 200 MW Yguazú facility for $56 million in January. Phase 1 infrastructure of a 100 MW data center at the site was completed in April, supporting 5 EH/s of Application-Specific Integrated Circuit (ASIC) mining.
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