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HIVE Digital Buys Bitfarms’ Paraguay BTC Mine for $56M

HIVE Digital has finalized the acquisition of Bitfarms’ partially completed 200-megawatt Bitcoin mining facility in Yguazú, Paraguay, for $56 million. The deal includes an upfront payment of $25 million due at closing in the first quarter of 2025, with the remaining $31 million to be paid in six equal monthly installments. The $56 Million Purchase According to an announcement HIVE made on January 28, the Yguazú facility will be developed in two stages. Phase 1, which is already 80% finished, is scheduled for completion by April 1, 2025. Once operational in the second quarter, it is expected to add approximately six exahashes per second (EH/s) to HIVE’s Bitcoin mining capacity. Phase 2, expected to be wrapped up by August 31, 2025, will introduce hydro-cooled Bitmain S21+ ASICs, adding 6.5 EH/s. The Texas-based crypto miner has estimated the cost of completing the facility at $400,000 per MW. It also revealed that it will be funded using existing cash reserves and BTC holdings. As part of the acquisition, HIVE will assume $19 million in pre-existing power purchase agreement (PPA) deposits that Bitfarms paid to Paraguayan utility ANDE. This aligns with its goal of expanding its Bitcoin mining capacity to 25 EH/s by September 2025. As of December 2024, the firm reported a realized hashrate of 5.46 EH/s and held 2,805 BTC in its reserves. It has also pre-ordered 15 EH/s of hydro-cooled ASICs from Bitmain and Canaan to support its growth plans. Bitfarms’ Strategic Shift The sale of the Yguazú facility marks a strategic shift for Bitfarms, which initially planned to develop the site as part of its 2024 expansion into Latin America. Construction delays led to the relocation of mining equipment originally intended for Paraguay to Stronghold Digital’s Pennsylvania facility as part of a 2024 merger. CEO Ben Gagnon stated that the proceeds from the sale would support the company’s 1-gigawatt growth pipeline in the U.S., which includes infrastructure for Bitcoin mining as well as high-performance computing and artificial intelligence. “We are pleased to announce the sale of our Yguazú site to HIVE as we continue to streamline our operations and rebalance towards North America,” Gagnon said. Bitfarms remains committed to its operations in Latin America, where it has three other facilities with a total capacity of 144 MW and long-term power agreements. The latest development comes after a proposed merger with Riot Platforms Inc. in 2024, which would have created 15 facilities in several areas, including Paraguay. However, Bitfarms’ board ultimately rejected the plan, with the two companies terminating the acquisition bid. The post HIVE Digital Buys Bitfarms’ Paraguay BTC Mine for $56M appeared first on CryptoPotato . CoinOtag

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Shiba Inu Holders Buy Into New Viral Meme Coin Panshibi As Top Analyst Predicts 100x Gains In 2025

Shiba Inu holders are creating quite a stir in the cryptocurrency world by enthusiastically embracing the new viral meme coin Panshibi ($SHIBI) , which top analysts are forecasting will achieve an astonishing 100x gain by 2025’s altcoin season. With its presale still in its early stages, this excitement goes beyond mere speculation; it reflects the emergence of a vibrant and engaged community rooted in the principles of unity, growth and enjoyment, all inspired by the legendary Panshibi Pandas. Shiba Inu Trading Volume Explodes: 18 Trillion SHIB Tokens Change Hands Shiba Inu has seen a huge increase in trading activity, with over 18 trillion tokens involved, amounting to about $334.44 million. This rise in trading interest shows that more investors are getting involved, even though the price has dropped. Currently, the SHIB price is trading at $0.0000189, reflecting a 7.06% decline over the past week, yet it continues to attract positive sentiment among investors. Some analysts believe a significant SHIB price jump might happen soon, as traders prepare to take advantage of potential gains. A lot of this trading is happening on Gate.io, which accounts for 81.03% of the total trading volume—around 14.77 trillion tokens worth $271.03 million whilst other platforms like Bitget and OKX have smaller shares. A recent hint from Shytoshi Kusama about an upcoming important partnership has also sparked interest. Although details are scarce, this suggestion has led some investors to feel optimistic about future SHIB price increases. Moreover, after a week of losses, Shiba Inu’s price recently showed a small increase, further boosting trader confidence. Panshibi: Invest in a Community, Not Just a Coin When you invest in Panshibi , you’re not merely making a financial transaction; you’re stepping into an opportunity where everyone collaborates for success, creating a sense of belonging and shared purpose. Panshibi’s ecosystem is packed with exciting features designed to keep holders engaged and rewarded. With governance options, high-yield staking that can reach up to 1,200% APY, and innovative AI-driven “social-fi” elements, there’s something for everyone to enjoy. Safety is paramount, too—Panshibi has locked its liquidity pool for ten years, providing stability, while team tokens are secured for two years. The smart contract has undergone a thorough audit by Coinsult, reinforcing the project’s commitment to transparency and security. The vision for Panshibi extends beyond mere investment; it aims to build an online community where crypto enthusiasts from around the globe can connect and thrive. This platform will allow members to engage in various tasks and activities, offering opportunities to earn rewards while learning about the meme market. It’s a space where sharing knowledge and experiences can lead to both personal growth and collective success. Conclusion The fervor surrounding Panshibi reflects a broader trend within the cryptocurrency community, particularly among Shiba Inu holders eager to take advantage of the potential for substantial gains. With just 51 days left in the presale, which has already raised over $320,000, now is the perfect time to act. Currently priced at $0.003, the next price jump is set for $0.004, with the anticipated listing price at $0.026. Some analysts even speculate that $SHIBI could see an astonishing 145,000% surge by 2025, making it an attractive opportunity in the upcoming altcoin season. You can participate in the Panshibi presale here: Telegram: https://t.me/panshibi Twitter: https://x.com/panshibi Website: https://panshibi.com Disclosure: This is a sponsored press release. Please do your research before buying any cryptocurrency or investing in any projects. Read the full disclosure here . CoinOtag