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]
Bitcoin Magazine Bitcoin Magazine Books Opens 333-Copy Genesis Book Collector Edition for 3rd Anniversary Bitcoin…
Bitcoin Magazine Strive (ASST) Posts $474.8 Million Common Net Income as Bitcoin Yield Hits 63.2%…
Bitcoin Magazine Argentine Bitcoiners Debut “The Genesis of Satoshi Nakamoto” Artwork in Downtown Buenos Aires…
Bitcoin Magazine Bitcoin Price Holds Near $75,000 After Hot October Jobs Report U.S. employers added…
Bitcoin Magazine Binance Hackers Swap About $50 Million of Stolen XRP Mostly Into Bitcoin, Elliptic…
Nasdaq 100 futures were higher by 1.5% following Thursday's 5.5% rout. Japan's Nikkei and Korea's…