HIVE acquires Bitfarms Paraguayan hydroelectric mine for $56 million
According to a report from Bitcoin.com News, cryptocurrency mining company HIVE Digital Technologies has acquired Bitfarms' 200 MW hydroelectric mining facility in Paraguay for $56 million. The mine uses water-cooled ASIC miners, and HIVE is also preparing for another 100 MW project as the company increases its investment in sustainable and efficient Bitcoin mining.
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This is an excerpt from the 21st edition of The Funding sent to our subscribers on Feb. 9.The Funding is a fortnightly newsletter written by Yogita Khatri, The Block’s longest-serving editorial member.To subscribe to the free newsletter, click here.