HIVE Raises 2026 Target to 35 EH/s with Paraguay Bitcoin Mining Expansion

HIVE is expanding its operations in Paraguay with a new 100-megawatt (MW) bitcoin mine at its Yguazú site, raising its 2026 hashrate target to 35 EH/s.

The company announced on Tuesday that the project marks Phase 3 of its ongoing expansion in Paraguay and will draw power from the Itaipú Dam, one of the world’s largest hydroelectric facilities. The expansion will boost HIVE’s total renewable capacity in the country to 400 MW.

HIVE noted that construction is scheduled to begin in early 2026, with full commissioning expected in the third quarter of next year. Once completed, HIVE said its total renewable energy infrastructure will reach 540 MW across Paraguay, Canada, and Sweden.

The expansion builds on the completion of HIVE’s first two phases earlier this year, which brought the Yguazú campus to 300 MW of hydropower capacity.

“We’ve scaled Bitcoin mining from 6 EH/s at the start of the year to nearly 22 EH/s today, on track to reach 25 EH/s by year-end. This additional 100 MW provides a path to 35 EH/s in 2026,” said HIVE’s executive chairman Frank Holmes.

HIVE said its Paraguay engineering teams have already completed civil works and substation pads, enabling a rapid construction start next year.

HIVE is one of the fastest-growing bitcoin mining operations in 2025 with the energization of its Paraguay facilities alongside Cipher and Bitdeer. HIVE’s realized hashrate increased from 5.66 EH/s in January to 19.34 EH/s in September. That makes HIVE the sixth-largest public bitcoin mining operator listed in North America.