Bitcoin miner Hive taps Paraguay for low-cost energy partnership

Quick Summary:

Kilic told Cointelegraph that they have diversified sourcing channels for ASICs and electrical components to avoid single-region dependencies. Related: Bitcoin miners should pay costs in depreciating currency — Ledn execTo ensure scaling from six to 25 EH/s, the CEO said the company has locked in key ASIC orders, secured power access through long-term power purchase agreements, and expanded engineering capacity across three continents to deal with market and technological uncertainties.

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”.

Related: Bitfarms sells Paraguay site to Hive for $85M, refocuses on USThe CEO said Hive has spent over a year cultivating strong, cooperative relationships with local stakeholders in Paraguay.“We are investing in local hiring, training programs and strong vendor partnerships.

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Article Details

Author / Journalist: Cointelegraph by Lyne Qian

Category: Crypto

Markets: United StatesCanadaChinaParaguaySweden

Topics: Hive Paraguay Aydin Kilic Energy Bitcoin Long-term Cointelegraph Mining Local Digital

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-07 @ 10:54:25 (1 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 504 words

Reading Time: 3 minutes read

Sentences: 20 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coin Telegraph

News ID: 28485801

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