Hive Digital buys 6,500 ASICs, starts Paraguay construction
Hive Digital converted some of its capacity to AI after the Ethereum Merger, and now it is upgrading its Bitcoin mining capacity.
Bitcoin miner Hive Digital is upgrading its infrastructure as it begins construction of facilities in Paraguay, the fourth country it will operate in. The Nasdaq-listed Canadian miner has purchased 6,500 Canaan Avalon A1566 application-specific integrated circuits (ASICs) for delivery from December through March 2025.
The first 500 new ASICs were delivered in the second week of November, with four more shipments coming through the first quarter of 2025. They will boost Hive Digital’s hash rate from 5.6 EH/s to 6 EH/s by March, the company said.
Shortly after the completion of the ASICs delivery, 30 MW of mining capacity is expected to come online in Paraguay, bringing Hive Digital’s hash rate to 8 EH/s by the end of the second quarter. The new ASICs will boost Hive Digital’s efficiency from its current 22.3 J/th to 20.5 J/th. Canaan chairman and CEO Nangeng Zhang said:
