Curated News
By: NewsRamp Editorial Staff
July 24, 2024
Hive Digital Technologies to Establish Major 100MW Digital Asset Mining Operation in Paraguay
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- Hive Digital Technologies plans to build a 100-megawatt digital asset mining operation in Paraguay, boosting its global mining capacity.
- The company will leverage its expertise in grid balancing and demand response to support ongoing industrial development in Paraguay.
- Hive's operations in Paraguay aim to provide significant economic benefits and contribute to the country's industrial and economic development.
- Hive's expansion in Paraguay underscores the country's growing importance in the global energy and digital asset sectors, positioning the company as a key player.
Impact - Why it Matters
This news matters as Hive Digital Technologies' ambitious plans to build a 100-megawatt digital asset mining operation in Paraguay will significantly boost Bitcoin mining operations and provide economic benefits to the country. The expansion supports Hive's commitment to broadening its global footprint and positions the company as a key player in Paraguay's industrial and economic development.
Summary
Hive Digital Technologies plans to build a 100-megawatt digital asset mining operation in Paraguay, after identifying the country as a business-friendly environment that aligns with its vision. This expansion is expected to significantly boost Hive's Bitcoin mining operations, potentially adding up to an additional 6.5 Exahash per second (EH/s) and raising Hive's global mining capacity to 12.1 EH/s. The company aims to leverage its expertise in grid balancing and demand response to support ongoing industrial development in Paraguay, providing significant economic benefits.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Hive Digital Technologies to Establish Major 100MW Digital Asset Mining Operation in Paraguay
