- The construction of a new 100 MW crypto mining plant in Paraguay has been announced by the cryptocurrency mining company HIVE Digital Technologies.
- HIVE also disclosed that as of July 21, it had collected 2,521 BTC, which, at the current bitcoin price, is worth approximately $171 million.
HIVE Digital Technologies, a bitcoin mining company, revealed intentions to construct a new 100 megawatt (MW) cryptocurrency mining plant in Paraguay.
According to a release from the company, executive chairman Frank Holmes, this possible opportunity might boost our Bitcoin mining activities by up to 6.5 Exahash per second (EH/s), bringing our total EH/s to 12.1 EH/s globally.
With data center operations already operating in Paraguay, Canada, Sweden, Iceland, and now Iceland, this marks an important turning point in our diverse growth plan.
HIVE additionally declared that as of July 21, its bitcoin holdings had increased to 2,521 BTC. HIVE’s bitcoin is currently valued at approximately $171 million.
Revenue for HIVE increased by 8% to $114.5 million in comparison to the previous year.
As of 3:50 p.m. ET (19:51 UTC), the company’s stock (ticker HIVE), according to NASDAQ, was trading at $4.49, up almost 8% for the day.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
