Bitcoin miner HIVE Digital has announced the completion of a $56 million deal to acquire Canadian miner Bitfarms' partially completed 200 trillion watt (MW) bitcoin mine in Iguazu, Paraguay.
HIVE has signed a binding letter of intent with Bitfarms and expects to expand its bitcoin mining hashrate to 25 EH/s in September through this acquisition, leveraging low-cost renewable hydroelectric power in Paraguay. The $56 million acquisition includes a $25 million upfront payment expected upon completion of Quarter 1, with the remaining $31 million to be paid in six equal installments over the next six months.
HIVE Digital buys Bitfarms mine in Paraguay for $56 million
2025-01-28 07:10:35
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
