Hive Digital to Acquire Site in Paraguay from Bitfarms for $85 Million
Business/Finance

Hive Digital to Acquire Site in Paraguay from Bitfarms for $85 Million

The purchase will significantly increase Hive Digital's hashrate capabilities.

Key Information:

  • Hive Digital Technologies is set to purchase a site in Yguazú, Paraguay from Bitfarms.
  • The deal is valued at $85 million, which includes assuming obligations.
  • Hive will pay $56 million for the site, alongside funding $29 million in commitments.
  • This acquisition will enhance Hive’s hashrate to 25 EH/s by September, significantly up from 6 EH/s.

Read More: Bitfarms Press Release

Hive’s share price saw fluctuations, dropping over 10% to $2.78 before recovering slightly in pre-market trading.

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