Please enter CoinGecko Free Api Key to get this plugin works.
Please enter CoinGecko Free Api Key to get this plugin works.
HomeCrypto NewsBitcoin Miner Hive Digital (HIVE) to Buy Paraguay Site From Bitfarms (BITF)...

Bitcoin Miner Hive Digital (HIVE) to Buy Paraguay Site From Bitfarms (BITF) for $85M

-

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

LEAVE A REPLY

Please enter your comment!
Please enter your name here

LATEST POSTS

Russia Turns to Crypto to Bypass Western Sanctions in Oil Trade: Reuters

Russia has turned to cryptocurrencies to facilitate oil trade with China and India, effectively bypassing Western sanctions in its $192 billion oil trade, Reuters reported,...

Imagen Network Revolutionizes Web3 Social Interaction

Imagen Network (IMAGE) is reshaping the Web3 social landscape by incorporating artificial intelligence (AI) to enhance data ownership, allowing users to maintain complete control over...

Index Gains 3.3% as All Twenty Assets Move Higher

CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.The CoinDesk 20 is currently trading at...

Gold’s Historic Rally Brings Back BTC’s ‘Store of Value’ Debate

By James Van Straten (All times ET unless indicated otherwise)The recent market turmoil might have given gold the bragging rights of being the "store of...

Most Popular