The negotiation between the mining companies was closed for about 80 million dollars.
Hive wants to expand the farm at 300 MW, while Bitfarms will focus on the US.
Two large mining companies of Bitcoin closed a sale agreement in Paraguay so that a 200 MW mega-shan change ownership, in the midst of a wave of confiscations and persecution of the clandestine mining industry in that country.
The Hive Digital Technologies company advertisement This Tuesday the acquisition of the Yguazú mining farm, previously controlled by Bitfarms. It is a huge computational complex, the largest of that company in Paraguay, which feeds on hydroelectric energy. According to the details of the negotiation, The transaction was completed for an amount of 85 million dollars.
Hive Digital has significant expansion plans for the Bitcoin mining farm that it acquired. As reported, Hive’s improved operational capacity in Paraguay will total 300 MW, once the purchase is completed. With this, it will raise its global capacity, including existing facilities in Canada and Sweden, at 430 MW for the third quarter of 2025.
Hive has already made a presence in Paraguay, being that in July 2024 that company announced its arrival at the Guaraní market, with the aim of Build a 100 megawatt mining site. Then, in November, the company reported that it would install 6,500 ASIC miners in a farm, as cryptootics reported.
Bitfarms Explain That Yguazú’s sale is part of its “optimization” strategy of operations and a “rebalancing to North America”. The company plans to “reinsert the capital of this sale towards its growth portfolio of 1 GW in the USA. For BTC and HPC/AI infrastructure.”
“What marks an important milestone in our transition from an international Bitcoin miner to an energy and computer infrastructure company in North America,” Bitfarms said.
In concrete financial terms, Bitfarms will receive USD 25 million at the end of this operation, followed by 31 million dollars six months after the closure, in addition to a reimbursement of USD 19 million for energy deposits made to the National Energy Administration (ANDE) and approximately USD 10 million in remaining capital obligations.
This sale of Yguazú occurs shortly after Bitfarms faced an imputation for noise pollution in the town of Villarrica, where the company has another mining farm, as cryptoics reported.
Illegal mining under magnifying glass
The context of this negotiation is complex due to the intensification of persecution against illegal mining in Paraguay. The authorities They have confiscated tens of thousands of Asic miners and an countless amount of transformers and electrical appliances necessary for mining.
Despite this scenario, Hive Digital and Bitfarms advance in their commercial plans. This is partly due to the fact that, in itself, mining activity is legal in Paraguay, especially because the State must be paid for electricity consumption. What is illicit is unregulated mining and running by stealing electricity.
On the other hand, the agreement between Hive and Bitfarms occurs at a time when walking it raised the electric rates for the miners, what has led to the withdrawal of several companies in the sector. Although from the Paraguayan government this impact has been denied, entrepreneurs claim that the increase in costs is a decisive factor for some mining operations.
The sale of the Yguazú farm by Bitfarms to HIVE Digital not only reflects the changing dynamics of the mining market in Paraguay, but also the adaptation and growth strategies of the companies involved in front of an increasingly strict regulatory environment. This agreement, valued at 85 million dollars, underlines the continuous bet for Bitcoin mining in the country, despite the regulatory and operational challenges present.
