From Investing.com
July 31, 2024 4:44:07 pm:

HIVE Digital Technologies Ltd. signs agreements for a 100 MW mining operation in Paraguay with W3X SA. Plans include a 6.5 EH/s Bitcoin mining infrastructure using green energy from the Itaipu hydroelectric dam, aiming to increase global EH/s to 12.1 EH/s while advocating for stable fiscal policies for data centers and Bitcoin mining industries.

Despite turning down an additional 150 MW due to fiscal policy changes, HIVE plans to invest in Paraguay for a 100 MW project and continues to explore countries with stable capital for data centers and Bitcoin mining infrastructure. Executive Chairman Frank Holmes stresses the importance of attracting foreign investment and advocating for fair treatment of the industry.

HIVE clarifies its strategic investment plans for Paraguay amid proposed 14% energy tariff hike on Bitcoin data centers. Discussions with Paraguayan officials were constructive, but uncertainties due to the tariff proposal may impact investment decisions. Stable costs and agreement durations are crucial for attracting foreign public funds.

Proposed energy tariff hike in Paraguay leads to a reduction in investment plans for HIVE and delays in HPC data center strategy. Despite initial confidence in the country’s vision and leadership, uncertainties around energy pricing and contract durations raise challenges for long-term investments.

Investing in a 100 MW project in Paraguay would provide essential capital for the country’s electrical infrastructure, creating local jobs, stable USD income exceeding $100 million, and a hedge against currency depreciation. Other public Bitcoin mining companies also reevaluate plans due to proposed tariff increase.

HIVE’s transparent ‘Return on Invested Capital’ (ROIC) model supports sustainable investment and community engagement, aiming to contribute to Paraguay’s economic growth. The company remains committed to fostering a conducive environment for business and investment, following successful operations in Sweden and Canada.

Read more at Investing.com: HIVE Digital Technologies to Develop 100 MW Hydroelectric Data Center in Paraguay, Targeting to Reach 12 Exahash Next Year By Investing.com