HIVE Digital (HIVE) Technologies announces the signing of a binding letter of intent with Bitfarms to acquire the Yguazu 200 megawatt, MW, hydro-powered Bitcoin mining facility in Paraguay. This acquisition will accelerate HIVE’s growth, increasing its global Bitcoin mining hashrate from 6 Exahash per second today, to an anticipated 25 EH/s by September 2025. HIVE estimates the total net costs to complete the site to 200 MW to be $400,000 per MW upon completion. The acquisition, valued at $56 million, includes ownership of a 240 MVA substation with 200 MW of capacity, as well as all associated land and facilities. Key terms include: $25 million payable at closing, scheduled for calendar Q1 2025. $31 million payable in equal installments over six months following closing.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on HIVE:
- Bitfarms to sell 200 MW site in Paraguay to Hive Digital for $85M
- Largest borrow rate increases among liquid names
- HIVE Digital Technologies Enhances Strategic Team with New Appointment
- HIVE Digital Technologies Achieves Major Milestones in Bitcoin Mining and Relocation Plans
- HIVE Digital Technologies Announces Significant Strategic Milestones and Expansion Plans