Data center infrastructure and technology firm, Hive Digital, has announced the completion of the second phase of development at its cryptomine in Paraguay ahead of schedule.

With the completion of Phase II at the Yguazú site in Paraguay, Hive states that it has a total global hashrate of 18 EHps.

The Yguazú site is powered by 200MW of local hydroelectric power sourced from the nearby Itaipú Dam in Paraguay.

Hive also notes that the third phase of energization at the site has been completed, amounting to another 100MW of power. The company is now awaiting the arrival of crypto-specific mining machines to enact a full operational launch of Phase III.

"While our 200MW Yguazú site is the largest Bitcoin mining facility HIVE has constructed, it has done so in record time," said Luke Rossy, COO of Hive.

Hive acquired the in-development Yguazù site from Bitfarms in January in a deal worth $56 million.

With the Yguazù site now underway, Hive’s global crypto mining footprint is set to expand to 430MW, with sites located in Paraguay, Canada, and Sweden.

The company is separately developing another 100MW site in Paraguay, in Valenzuela, in the district of Cordillera. That facility is also due to go live later in the year.

Hive notes that it had been producing 8 Bitcoin (BTC) per day globally prior to the completion of Phase II, and that this figure has now risen to 8.5 BTC following the completion of work at Yguazú. The company aims to produce 12 BTC per day across all its mining sites.

Aydin Kilic, Hive president & CEO, emphasized the achievement of catering to both the cryptomining market as well as that of AI and high-performance computing.

Kilic said: “Hive is one of the few companies in the world operating with a dual business model, in Bitcoin mining and also AI Cloud computing powered by GPUs in our HPC data centers. At Hive, we are focused on creating enduring value through disciplined growth, operational excellence, and a dual-engine model that puts us at the forefront of digital infrastructure and next-generation finance.”