HIVE targets 35 EH/s by 2026 with 100 MW hydro expansion

Core Insights - HIVE Digital Technologies has announced a definitive agreement to develop a 100 MW hydroelectric-powered data center in Paraguay, increasing its total renewable capacity in the country to 400 MW by 2026 [1] - The Phase 3 expansion will utilize renewable energy from the Itaipú Dam and is expected to be Paraguay's largest facility, aiming for a global Bitcoin mining capacity of 35 EH/s by 2026, up from approximately 22 EH/s today [3][4] - The company is also expanding its high-performance computing (HPC) and AI infrastructure through a partnership with Bell Canada, enhancing its position in the digital infrastructure sector [5][7] Company Strategy - HIVE's strategy focuses on scaling sustainable, low-cost infrastructure for Bitcoin mining, having increased its mining capacity from 6 EH/s at the beginning of the year to nearly 22 EH/s currently, with a target of 25 EH/s by year-end [4] - The partnership with Bell Canada is expected to drive a fivefold increase in HIVE's HPC capacity by 2026, positioning the company as a leader at the intersection of blockchain and artificial intelligence [5] Project Timeline - Construction of the Phase 3 expansion is set to begin in early 2026, with commissioning targeted for the third quarter of that year [6]