HIVE Digital Technologies (HIVE) has solidified its commitment to sustainable cryptocurrency mining and AI infrastructure by signing a definitive agreement for a 100 MW hydroelectric-powered Phase 3 expansion at its Yguazú site in Paraguay. This move will bring HIVE’s Paraguay capacity to 400 MW and its global renewable energy footprint to 540 MW, encompassing operations in Paraguay, Canada, and Sweden.
The company’s management team is targeting a global Bitcoin mining capacity of 35 EH/s by 2026. They anticipate the Phase 3 construction to commence in early 2026, with full commissioning slated for Q3 2026. Further diversifying its operations into the burgeoning AI sector, HIVE has also announced a strategic partnership with Bell Canada to integrate BUZZ HPC AI infrastructure. This collaboration is projected to result in a 5x growth in HPC/AI capacity by 2026, primarily driven by GPU clusters and a Toronto-based buildout.
HIVE (HIVE) ha firmato un accordo definitivo per un’espansione della Fase 3 da 100 MW alimentata da idroelettrico presso il suo sito di Yguazú in Paraguay, portando la capacità Paraguay a 400 MW e l’impronta rinnovabile globale a 540 MW tra Paraguay, Canada e Svezia.
Il management punta a una capacità globale di Bitcoin di 35 EH/s per il 2026 e si aspetta che la costruzione della Fase 3 inizi all’inizio del 2026 con l’intero collaudo previsto entro Q3 2026. HIVE ha anche annunciato una partnership strategica con Bell Canada per integrare l’infrastruttura BUZZ HPC AI e prevede una crescita 5x della capacità HPC/AI nel 2026 guidata da cluster GPU e da una realizzazione a Toronto.
HIVE (HIVE) ha firmado un acuerdo definitivo para una expansión de la Fase 3 de 100 MW alimentada por hidroeléctrica en su sitio de Yguazú, Paraguay, elevando la capacidad de Paraguay a 400 MW y la huella renovable global a 540 MW en Paraguay, Canadá y Suecia.
La dirección apunta a una capacidad global de Bitcoin de 35 EH/s para 2026 y espera que la construcción de la Fase 3 comience a principios de 2026 con la puesta en servicio completa prevista para Q3 2026. HIVE también anunció una asociación estratégica con Bell Canada para integrar la infraestructura BUZZ HPC AI y espera un crecimiento 5x en la capacidad HPC/AI en 2026 impulsado por clústers GPU y una expansión en Toronto.
HIVE (HIVE)는 파라과이 야과수(Yguazú) 현장에서 100 MW 수력 발전 기반의 3단계 확장을 위한 확정 계약을 체결하여 파라과이의 용량을 400 MW로, 파라과이, 캐나다, 스웨덴 전 세계 재생에너지 규모를 540 MW로 확대했습니다.
경영진은 2026년 35 EH/s의 글로벌 비트코인 용량을 목표로 하며 3단계 건설은 2026년 초에 시작하고 완첨 가동은 2026년 3분기를 목표로 하고 있습니다. HIVE는 또한 BUZZ HPC AI 인프라를 통합하기 위한 벨 캐나다와의 전략적 파트너십을 발표했고 2026년GPU 클러스터와 토론토 구축으로 인해 HPC/AI 용량이 5배 성장할 것으로 기대합니다.
HIVE (HIVE) a signé un accord d’objectif pour une expansion de la phase 3 de 100 MW alimentée par hydroélectricité sur son site d’Yguazú, au Paraguay, portant la capacité du Paraguay à 400 MW et l’empreinte renouvelable mondiale à 540 MW couvrant le Paraguay, le Canada et la Suède.
La direction vise une capacité mondiale de Bitcoin de 35 EH/s pour 2026 et prévoit que la construction de la Phase 3 commencera d’à partir du debut 2026 avec une mise en service complète visée pour Q3 2026. HIVE a également annoncé un partenariat stratégique avec Bell Canada pour intégrer l’infrastructure BUZZ HPC AI et prévoit une croissance 5x de la capacité HPC/AI en 2026, tirée par des clusters GPU et une expansion à Toronto.
HIVE (HIVE) hat eine endgültige Vereinbarung für eine 100-MW-Hydropower-Phase-3-Erweiterung an ihrem Standort Yguazú in Paraguay unterzeichnet, wodurch die Kapazität von Paraguay auf 400 MW und die globale erneuerbare Präsenz auf 540 MW in Paraguay, Kanada und Schweden steigt.
Das Management strebt eine globale Bitcoin-Kapazität von 35 EH/s für 2026 an und erwartet, dass der Bau der Phase 3 Anfang 2026 beginnt und die vollständige Inbetriebnahme für Q3 2026 vorgesehen ist. HIVE kündigte außerdem eine strategische Partnerschaft mit Bell Canada an, um BUZZ HPC AI-Infrastruktur zu integrieren, und rechnet damit, dass die HPC/AI-Kapazität im Jahr 2026 durch GPU-Cluster und einen Ausbau in Toronto um 5x wachsen wird.
HIVE (HIVE) وقعت اتفاقية نهائية لتوسعة المرحلة 3 بقدرة 100 MW مدعومة بالطاقة الكهرومائية في موقعها ياغوازú في باراغواي، ليصل إجمالي سعة باراغواي إلى 400 MW وآثارها المتجددة على المستوى العالمي إلى 540 MW عبر باراغواي وكندا والسويد.
تستهدف الإدارة قدرة عالمية للبيتكوين تبلغ 35 EH/s لعام 2026 وتتوقع أن يبدأ بناء المرحلة 3 في أوائل 2026 مع توقيت التشغيل الكامل المستهدف لـ Q3 2026. كما أعلنت HIVE عن شراكة استراتيجية مع Bell Canada لدمج بنية BUZZ HPC AI وتتوقع نموًا بمقدار 5x في قدرات HPC/AI في 2026 مدفوعة بمجموعات GPU وتوسع في تورنتو.
HIVE (HIVE) 已签署一项针对其位于巴拉圭雅瓜苏Yguazú站点的100 MW水电驱动的第三阶段扩张的最终协议，使巴拉圭的容量达到400 MW，全球可再生能源版图扩展至540 MW，覆盖巴拉圭、加拿大和瑞典。
管理层目标在2026年实现全球比特币容量为35 EH/s，并预计第三阶段建设在2026年初开始，全面投产的目标时间为2026年第三季度。HIVE还宣布与Bell Canada建立战略伙伴关系，整合BUZZ HPC AI基础设施，预计在2026年由GPU集群和多伦多建设推动，HPC/AI容量将实现5x增长。
Positive
- 100 MW Phase 3 expansion signed for Yguazú site in Paraguay
- Paraguay capacity increases to 400 MW
- Total renewable infrastructure reaches 540 MW across three countries
- Company target of 35 EH/s global Bitcoin capacity for 2026
- 5x expected HPC/AI processing growth in 2026 via Bell Canada partnership
- Full commissioning targeted in Q3 2026
Negative
- 74% of renewable capacity located in Paraguay (400 MW of 540 MW)
- Commissioning depends on construction starting in early 2026 and meeting the Q3 2026 timeline
Insights
HIVE commits 100 MW more in Paraguay and a Bell Canada partnership to materially scale Bitcoin hashing and AI GPU capacity by 2026.
HIVE expands its Yguazú campus by an additional 100 MW, lifting Paraguay capacity to 400 MW and total renewable footprint to 540 MW. This directly supports a stated target of > 35 EH/s global Bitcoin capacity in 2026 by pairing incremental colocated power with next‑generation ASICs; civil and electrical work for 300 MW is already engineered, and Phase 3 construction is planned to begin in early 2026 with commissioning targeted for Q3 2026.
The Bell Canada collaboration ties BUZZ HPC GPU clusters to national fiber and data‑center assets, aiming to 5x HPC capacity in 2026 and to serve sovereign AI workloads for government, enterprise, and research clients. This creates a dual revenue pathway: Tier 1 mining for bitcoin cash flow and Tier 3 HPC/AI for contracted compute services. Key dependencies include arrival and deployment pace of next‑gen ASIC miners, timely Phase 3 commissioning, and successful integration with Bell’s network and Toronto buildout.
Watchables and horizon: monitor actual commissioned MW and reported EH/s post‑commissioning around Q3 2026, announced delivery and operational dates for next‑gen ASIC units, and metrics showing BUZZ HPC capacity growth and customer onboarding through the Bell AI Fabric in 2026. These items will directly confirm whether the stated scaling targets translate into realized mining capacity and AI compute revenue streams.
10/21/2025 – 01:00 AM
This news release constitutes a “designated news release” for the purposes of the Company’s amended and restated prospectus supplement dated May 14, 2025, to its short form base shelf prospectus dated September 11, 2024.
San Antonio, Texas–(Newsfile Corp. – October 21, 2025) – HIVE Digital Technologies Ltd., a diversified leader in sustainable blockchain and artificial intelligence (“AI”) infrastructure, today announced it has signed a definitive agreement to develop an additional 100 megawatt (“MW”) hydroelectric-powered data-center campus at its Yguazú site in Paraguay.
This Phase 3 expansion will increase HIVE’s total renewable capacity in Paraguay to 400 MW. Management expects this addition, also powered by renewable hydroelectric energy from the Itaipú Dam, to be the largest facility of its kind in Paraguay, and to increase HIVE’s global Bitcoin target to 35 Exahash per second (“EH/s”) for 2026.
Strategic Expansion in Paraguay
Phase 3 follows the successful completion of Phase 1 (April 2025) and Phase 2 (September 2025), bringing Yguazú to its designed 300 MW capacity powered by clean hydro electricity from the Itaipú Dam.
With civil and electrical infrastructure already engineered for 300 MW, construction of Phase 3 will begin in early 2026, with full commissioning targeted for Q3 2026. Once complete, HIVE’s total renewable infrastructure footprint will reach 540 MW across three countries-400 MW in Paraguay and 140 MW across Canada and Sweden.
Frank Holmes, HIVE’s Executive Chairman, commented: “Our expansion in Paraguay reinforces HIVE’s long-term vision: scaling sustainable, low-cost digital infrastructure powered entirely by renewable energy. Operating across nine time zones, five languages, and three nations, HIVE continues to execute with efficiency, innovation, and first-mover advantage. We’ve scaled Bitcoin mining from 6 EH/s at the start of the year to nearly 22 EH/s today, on track to reach 25 EH/s by year-end. With the advent of next generation ASIC miners, this additional 100 MW provides a path to a potential 35 EH/s in 2026-a milestone that reflects both our operational excellence and our global growth ambition.”
Aydin Kilic, President & CEO, added: “This expansion strengthens both engines of our business model. Tier 1 Bitcoin mining drives robust cash flow and network share, while Tier 3 high-performance computing (“HPC”) and AI-our BUZZ HPC division-builds diversified growth in next-generation computing. Led by Craig Tavares, BUZZ HPC is our center of excellence for sovereign AI cloud and GPU-accelerated workloads, developing Tier 3+ liquid-cooled data centers purpose-built for AI model training, inference, and scientific computing. Our strategic partnership with Bell Canada, through the Bell AI Fabric initiative, integrates BUZZ’s AI infrastructure with Bell’s national fiber network and data-centers to deliver one of Canada’s most advanced sovereign AI ecosystems. This collaboration enables government, enterprise, and research clients to securely access BUZZ’s GPU compute clusters all powered by clean energy. Through this partnership and our Toronto buildout, we expect to 5x our HPC capacity in 2026. HIVE’s turbo-charged twin-engine model-Tier 1 for Bitcoin, Tier 3 for AI-positions us as a global digital-infrastructure leader at the intersection of blockchain and artificial intelligence.”
Gabriel Lamas, Country President of HIVE Paraguay, stated: “This additional 100 MW expansion brings Yguazú to full design capacity. Our engineering teams are ready-civil works and substation pads are complete. This milestone strengthens Paraguay’s position as a regional hub for clean energy innovation and underscores HIVE’s role as a trusted infrastructure partner in Latin America.”
2026 Strategic Outlook
In 2026, HIVE expects to continue scaling both its Tier 1 Bitcoin and Tier 3 HPC divisions.
- Bitcoin Operations: Targeting > 35 EH/s global capacity, supported by next-generation ASIC technology and low-cost renewable power.
- HPC & AI Cloud: Targeting 5x processing growth, enabling large-language-model training, AI inference services, and sovereign AI compute for Canadian institutions and enterprise clients.
Backed by strategic partnerships, renewable energy assets, and a proven record of operational excellence, HIVE Digital Technologies is uniquely positioned to lead the next era of sustainable digital infrastructure.
About HIVE Digital Technologies Ltd.
Founded in 2017, HIVE Digital Technologies Ltd. is the first publicly listed company to mine digital assets powered exclusively by green energy. Today, HIVE builds and operates next-generation blockchain and AI data centers across Canada, Sweden, and Paraguay, serving both Bitcoin and high-performance computing (HPC) clients. HIVE’s twin-turbo engine infrastructure-driven by Bitcoin mining and NVIDIA GPU-accelerated AI computing-delivers scalable, environmentally responsible solutions for the digital economy.
For more information, visit hivedigitaltech.com, or connect with us on:
X: https://x.com/HIVEDigitalTech
YouTube: https://www.youtube.com/@HIVEDigitalTech
Instagram:https://www.instagram.com/hivedigitaltechnologies/
LinkedIn: https://linkedin.com/company/hiveblockchain
On Behalf of HIVE Digital Technologies Ltd.
“Frank Holmes”
Executive Chairman
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Information
Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian and United States securities legislation and regulations that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes but is not limited to: the performance of the Comp[any’s existing operations, the construction of the Company’s facility in Yguazu, Paraguay and its potential specifications and performance upon completion, the timing of it becoming operational; business goals and objectives of the Company; the acquisition, deployment and optimization of the mining fleet and equipment; the continued viability of its existing Bitcoin mining operations; and other forward-looking information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.
Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to: the inability to complete the construction of the Paraguay acquisition on an economic and timely basis and achieve the desired operational performance; the ongoing support and cooperation of local authorities and the Government of Paraguay; the volatility of the digital currency market; the Company’s ability to successfully mine digital currency; the Company may not be able to profitably liquidate its current digital currency inventory as required, or at all; a material decline in digital currency prices may have a significant negative impact on the Company’s operations; the regulatory environment for cryptocurrency in Canada, the United States and the countries where our mining facilities are located; economic dependence on regulated terms of service and electricity rates; the speculative and competitive nature of the technology sector; dependency on continued growth in blockchain and cryptocurrency usage; lawsuits and other legal proceedings and challenges; government regulations; the global economic climate; dilution; future capital needs and uncertainty of additional financing, including the Company’s ability to utilize the Company’s ATM Program and the prices at which the Company may sell Common Shares in the ATM Program, as well as capital market conditions in general; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital; the competitive nature of the industry; currency exchange risks; the need for the Company to manage its planned growth and expansion; the need for continued technology change; the ability to maintain reliable and economical sources of power to run its cryptocurrency mining assets; the impact of energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates; protection of proprietary rights; the effect of government regulation and compliance on the Company and the industry; network security risks; the ability of the Company to maintain properly working systems; reliance on key personnel; global economic and financial market deterioration impeding access to capital or increasing the cost of capital; share dilution resulting from the ATM Program and from other equity issuances; the construction and operation of facilities may not occur as currently planned, or at all; expansion may not materialize as currently anticipated, or at all; the digital currency market; the ability to successfully mine digital currency; revenue may not increase as currently anticipated, or at all; it may not be possible to profitably liquidate the current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on operations; an increase in network difficulty may have a significant negative impact on operations; the volatility of digital currency prices; the anticipated growth and sustainability of electricity for the purposes of cryptocurrency mining in the applicable jurisdictions; the inability to maintain reliable and economical sources of power for the Company to operate cryptocurrency mining assets; the risks of an increase in the Company’s electricity costs, cost of natural gas, changes in currency exchange rates, energy curtailment or regulatory changes in the energy regimes in the jurisdictions in which the Company operates and the adverse impact on the Company’s profitability; the ability to complete current and future financings, any regulations or laws that will prevent the Company from operating its business; historical prices of digital currencies and the ability to mine digital currencies that will be consistent with historical prices; an inability to predict and counteract the effects of pandemics on the business of the Company, including but not limited to the effects of pandemics on the price of digital currencies, capital market conditions, restriction on labour and international travel and supply chains; and, the adoption or expansion of any regulation or law that will prevent the Company from operating its business, or make it more costly to do so; and other related risks as more fully set out in the Company’s disclosure documents under the Company’s filings at www.sec.gov/EDGAR and www.sedarplus.ca.
The forward-looking information in this news release reflects the Company’s current expectations, assumptions, and/or beliefs based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s objectives, goals or future plans, the timing thereof and related matters. The Company has also assumed that no significant events will occur outside of the Company’s normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance, and accordingly, undue reliance should not be put on such information due to its inherent uncertainty. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, other than as required by law.
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FAQ
What does HIVE’s 100 MW Paraguay expansion mean for HIVE (HIVE) capacity in 2026?
The 100 MW Phase 3 raises Paraguay capacity to 400 MW, helping target a global Bitcoin capacity of 35 EH/s for 2026.
When will HIVE’s Phase 3 100 MW build at Yguazú begin and be commissioned?
Construction is planned to begin in early 2026 with full commissioning targeted for Q3 2026.
How much renewable capacity will HIVE have after the Paraguay expansion?
HIVE will have a total renewable footprint of 540 MW across Paraguay, Canada and Sweden.
What HPC/AI capacity growth did HIVE announce for 2026 and with whom?
HIVE expects to 5x its HPC/AI processing in 2026 through a strategic partnership with Bell Canada and a Toronto buildout.
How does the Paraguay expansion affect HIVE’s geographic concentration of assets?
After the expansion 400 MW of 540 MW total renewable capacity will be in Paraguay, indicating significant geographic concentration.
What operational drivers support HIVE’s target of 35 EH/s in 2026?
The target is supported by the additional 100 MW hydroelectric power, existing phases at Yguazú, and deployment of next-generation ASIC miners.
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