CandleFocus This Wall Street Bitcoin Miner Orders 6,500 Canaan Machines in $100M Paraguay Push
2024-11-11
Author: Content Editor
HIVE Digital Technologies, a publicly listed Bitcoin miner, is expanding its Bitcoin production capabilities by purchasing 6,500 Canaan Avalon A1566 ASIC miners and developing a new facility in Paraguay. The new mining equipment will significantly increase HIVE's total mining capacity and improve fleet efficiency. The new facility in Paraguay will support additional mining capacity and is expected to be completed by Q3 2025. HIVE is also planning to construct a new hydroelectric data center and expand into the artificial intelligence sector to enhance its revenue streams. Despite the impact of the Bitcoin halving, HIVE reported strong financial results in the second quarter of 2024.
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