HIVE Digital Technologies Targets 35 EH/s in 2026 with Newly Signed 100 MW Hydroelectric Expansion in Paraguay and a 5x Growth in HPC and AI Operations Through Strategic Partnerships with Bell Canada

Executive Summary

• HIVE Digital Technologies signed a definitive agreement to build an additional 100 MW hydroelectric‑powered data‑center campus at its Yguazú site in Paraguay (Phase 3), raising total renewable capacity in Paraguay to 400 MW.
• The expansion will bring the company’s global renewable infrastructure footprint to 540 MW across Paraguay, Canada and Sweden and is expected to support a global Bitcoin mining target of 35 EH/s by 2026.
• Construction is slated to start early 2026 with full commissioning targeted for Q3 2026, and the project underpins HIVE’s twin‑engine growth model (Tier 1 Bitcoin mining and Tier 3 AI/HPC services).

Key Details

• Phase 3 Scope: 100 MW hydroelectric data‑center campus at Yguazú, Paraguay; powered by Itaipú Dam.
• Capacity Impact: Increases Paraguay renewable capacity from 300 MW to 400 MW; total company renewable footprint reaches 540 MW (Paraguay 400 MW + Canada/Sweden 140 MW).
• Timeline: Construction begins early 2026; full commissioning targeted for Q3 2026.
• Bitcoin Mining Goal: Scale global hash rate to >35 EH/s by 2026 (up from ~22 EH/s today, aiming for 25 EH/s by year‑end).
• HPC/AI Expansion: Anticipated 5× increase in HPC capacity in 2026, leveraging BUZZ HPC division and partnership with Bell Canada’s AI Fabric initiative.
• Strategic Partnerships: Collaboration with Bell Canada to integrate GPU compute clusters into a sovereign AI ecosystem across Canada.
• Leadership Comments:
• Frank Holmes (Executive Chairman) highlighted the expansion as reinforcing HIVE’s vision of low‑cost, renewable‑powered digital infrastructure and scaling Bitcoin capacity.
• Aydin Kilic (President & CEO) emphasized the dual‑engine model—Tier 1 Bitcoin mining driving cash flow and Tier 3 AI/HPC delivering diversified growth.
• Operational Readiness: Civil works and substation pads at Yguazú are complete; engineering teams prepared for Phase 3 execution.

Notable Quotes

“Our expansion in Paraguay reinforces HIVE's long‑term vision: scaling sustainable, low‑cost digital infrastructure powered entirely by renewable energy.” – Frank Holmes, Executive Chairman

“This expansion strengthens both engines of our business model… We expect to 5x our HPC capacity in 2026.” – Aydin Kilic, President & CEO