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
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
The Financial Times and Peter Schiff were among the no-coiners giving themselves pats on the…
The Polymarket bet is a reminder that the weirdest corners of crypto are sometimes the…
Bitcoin Magazine Bitcoin Price Reclaims $71,000 as Institutions Buy the Dip and Retail Interest Surges…
Bitcoin Magazine Bithumb Bitcoin Blunder Sends $44 Billion to Users, Rattles Crypto Markets South Korean…
Recent on-chain data shows that the Bitcoin price is currently at an important phase, raising…
Since reaching its current all-time-high price of $126,000 in October last year, the Bitcoin market…