HIVE Digital Technologies is expanding its hydroelectric-powered data-center campus in Paraguay. The announcement came on Tuesday and marks the start of what the company calls “Phase 3” of its renewable expansion in the country. Once completed, the facility’s output will reach 400 megawatts. Construction is expected to start in early 2026 and finish by the third quarter.
HIVE said the new addition, powered by energy from the Itaipú Dam, will likely be the largest facility of its kind in Paraguay. It is expected to help the company reach a global Bitcoin mining target of 35 Exahash per second for 2026. Analysts, like Matthew Sigel from VanEck, noted that HIVE is one of the few Bitcoin miners still actively growing its hash rate.
HIVE was founded in 2017 and started expanding its energy capacity earlier this year in Yguazú, Paraguay. Phases 1 and 2 were completed in April and September, respectively, boosting output to 300 megawatts. During this period, HIVE’s Bitcoin mining capacity also grew from 6 EH/s at the start of the year to 22 EH/s today, with expectations to reach 25 EH/s by year-end. The company currently holds around 2,201 BTC, valued at about $250 million.
Frank Holmes, HIVE’s executive chairman, said the expansion, combined with next-generation ASIC miners, could allow the company to reach 35 EH/s in 2026. He described the milestone as a reflection of HIVE’s operational efficiency and global growth ambitions.
Beyond Bitcoin mining, HIVE is moving into high-performance computing. The company provides Tier 3 HPC data center support for clients such as Bell Canada. CEO Aydin Kilic explained that Bitcoin mining offers strong cash flow while HPC services help diversify the company’s growth. HIVE plans to increase its HPC capacity fivefold in 2026 by investing in its Toronto data center and also maintains an AI operation in Sweden.
This dual focus on Bitcoin mining and HPC positions HIVE as a growing player in both cryptocurrency and high-performance computing markets.
