By Meg Flippin Benzinga
DETROIT, MICHIGAN - May 6, 2025 (NEWMEDIAWIRE) - HIVE Digital Technologies (NASDAQ: HIVE), a global leader in sustainable data center infrastructure, has been hard at work executing its transformative growth strategy in 2025. The company recently announced it had completed the first infrastructure phase of the plan – a 100 megawatt air-cooled data center backed by a fully energized 200 MW substation – at its flagship Yguazù facility in Paraguay. The company’s goal is to triple its operational capacity by the end of Q2, and by year-end, increase its hashrate to 25 EH/s, which HIVE says will position it to capture 3% of the global Bitcoin network.
Since last year, when HIVE purchased Bitfarms’ hydro-powered Bitcoin mining assets in Paraguay, it has been focused on growth. HIVE’s investments in Paraguay have been a game changer for the San Antonio, Texas-based company, leading to what it expects to be a transformational year in 2025.
Hitting Milestones
Efficiency is extremely important in Bitcoin mining, as it determines outcomes like profits and the sustainability of operations. That's why the phase 1 infrastructure completion is a milestone worth paying attention to for the company. After all, with the pace at which it’s expanding, HIVE says it is one of the fastest-growing miners across the globe.
“We are executing with conviction. We aim to reach 25 EH/s by Fall 2025, producing over 12 Bitcoins daily at current difficulty levels. With our Paraguay site energized and racking underway, HIVE is positioned for a transformative year of growth,” said Luke Rossy, chief operating officer of HIVE. “With 100 MW of infrastructure complete, we’re now racking and energizing machines. It’s exciting to see the momentum build.”
Debt-Free Growth
The completion of the 100 MW data center enables HIVE to support capacity for 5 EH/s of next-generation ASIC miners. HIVE already operates 200 petahashes of hashrate at the site using its proprietary BUZZ Miners, with a total of 8,000 BUZZ Miners forecast to be online by the end of April. By the end of May, the data center operator and miner expects to have over 20,000 units of new-generation ASICs, including Bitmain S21+ units. By the end of the second quarter, HIVE expects to have scaled to 5 EH/s in Paraguay and 11.5 EH/s total hashrate across all operations.
All of these growth plans aren’t being fueled by debt – HIVE reports it is using a blended treasury management strategy to fund its expansion.
Mining for Bitcoin requires expensive hardware, lots of energy and data center space. To successfully compete, miners have to increase their hash rate and, at the same time, improve efficiency. With significant capital requirements, miners often tend to take on debt, which can get them into trouble, with some going bankrupt over the years. That isn’t the case at HIVE, which is partly why Wall Street analysts have a strong buy rating on the stock and a consensus price target of $7.31, implying triple-digit growth from where HIVE has been trading recently.
“As of March 31, we secured deposits for 4.3 EH/s of Bitmain S21+ miners, funded through disciplined treasury management. Our fiscal year-end marked a strategic pivot - no debt, just smart execution. Our expansion from 6.5 EH/s to 11.5 EH/s has been paid and we’re moving fast,” said Aydin Kilic, president and CEO of HIVE.
The expansion in Paraguay comes at a time when Bitcoin is expected by some to see growth, potentially surpassing its all-time high of $108,000 in 2025, despite uncertainties around President Trump’s tariffs and a trade war with China. The current administration is a supporter of cryptocurrency and deregulation, which may also help drive the market. At the same time, Bitcoin is getting more attention from institutional investors, from BlackRock to Goldman Sachs.
Building Out The Team
In addition to completing phase 1 infrastructure at its flagship Yguazù facility in Paraguay, HIVE is expanding its engineering breadth, announcing the hiring of Carlos Anibal Torres as its new Paraguay operations and project manager, a key leadership hire as it accelerates expansion in the region. HIVE says Torres is an accomplished engineer with over 15 years of experience in large-scale infrastructure and energy systems. With degrees in electronic engineering and civil engineering, he has led digital transformation initiatives and energy deployment projects across Paraguay, including industrial-scale mining sites, smart grid infrastructure and advanced electrical systems.
With new capacity coming online, top-tier engineering talent joining the team, and momentum toward its 25 EH/s goal, HIVE says it is firing on all cylinders. The company says that 2025 is shaping up to be a breakout year.
Featured image by Kanchanara on Unsplash.
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