Crypto miner HIVE Digital to double revenue with 100MW center in Paraguay

Canadian cryptocurrency mining company HIVE Electronic has decreed arrangements to build a 100MW mining core in Paraguay to bolster its revenue.

Crypto mining company HIVE Electronic is gearing upwards to build a 100 megawatt Bitcoin (BTC) mining core in Paraguay, a slide that is intended to twin the company’s revenue and also bolster its hashrate.

In a Monday press launch, the Vancouver-headquartered miner claimed the crypto mining landmark will most certainly amass “over $100 million” of secure U.S. dollar revenue for Paraguay’s federal government-owned utility issuer. Commenting on the technology, Frank Holmes, HIVE’s exec chairman claimed the bargain is intended to add upwards to an “peripheral 6.5 Exahash per second” (EH/s) to the company’s Bitcoin mining process, fomenting its global resources to 12.1 EH/s.

“This stands for a considerable milestone in our broadened upswing methodology and also stabilizes our dedication to widening our global footprint wearing data core process in Canada, Sweden, Iceland and also now Paraguay.”

Frank Holmes

In renovation to the spreading, HIVE Electronic also unveiled the purchase of an peripheral 500 Bitmain S21 Pro Antminers, which HIVE’s COO Luke Rossy says is essential to “maintain our cadence in renovating our tools every month.” The tools are intended to ship later in July and also the company prepares for its unshortened operational hashrate to bolster to 5.6 EH/s as shortly as the miners are fully placed, the press launch reads.

In early July, HIVE Electronic unveiled a eruption in its crypto holdings to 2,503 BTC, reflecting an bolster of over 2% from the previous month. The issuer mined a unshortened of 119 BTC in June, keeping its practicality level from Could. Obeying the newest news, HIVE Electronic’s shares (HIVE) complimented more than 13% on Nasdaq, reaching $4.15, according to Google Financing data.