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CoinDesk 2025-01-28 10:10:24

Bitcoin Miner Hive Digital to Buy Paraguay Site From Bitfarms for $85M

Hive Digital Technologies (HIVE) agreed to buy a site in Paraguay from fellow bitcoin miner Bitfarms (BITF) for a total of $85 million including assumed obligations. The acquisition of the site in Yguazú, Paraguay will more than triple Hive's hashrate to 25 exahash per second (Eh/s) by September, Hive said Tuesday . It will pay a total of $56 million for the site, reimburse $19 million of deposits for power-purchase commitments and another $10 million for "remaining capital obligations," Bitfarms said in a separate statement. Hive estimated that developing the locate into a 200 MW site to be $400,000 per MW. HIVE shares, which fell over 10% to $2.78 on Monday amid the DeepSeek-related sell-off in both crypto and equity markets , are trading 4.68% higher at $2.91 in pre-market trading. Bitfarms is 4.29% higher at $1.46. Read More: Bitcoin Mining Stocks With AI Ambition Battered 20%-30% Lower as Nvidia's Plunge Grips Crypto

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