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 .
Crypto Potato
You can visit the page to read the article.
Source: Crypto Potato
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Market Crashes In Shiba Inu & DogWifHat Causes Millions To Move Into Panshibi Meme For 50X Profits
The meme coin market is facing major problems due to rising saturation. Despite that, meme coins achieved the highest growth rate in the crypto market, delivering over 1,300% average returns, before encountering major market difficulties. The explosive growth phase of meme coins carries significant market dangers, and financial experts forecast a forthcoming “disillusionment phase.” Shiba Inu and Dogwifhat face substantial market instability, which leads investors to shift their focus to Panshibi (SHIBI) , which promises rapid expansion and potential 50x returns. Can The Dogs Regain Community Traction? The meme coin Shiba Inu (SHIB), which its community defines as the DOGE killer, achieved rapid success as a major digital asset after emerging as a dog-themed token. Shiba Inu (SHIB) has been somewhat overwhelming over the past several months, crashing amid the broader bearish market wave. Also, Shiba Inu (SHIB) has not shown great recovery strength, and investors may be diversifying into promising new meme coin projects. As of this writing, the Shiba Inu price is at $0.00001796, having dropped over 15% in the past month. As experts make bullish Shiba Inu price predictions for the 2025 bull market, attention is turning to Panshibi (SHIBI) for its cheaper entry and high-profit margins. Like Shiba Inu (SHIB), Dogwifhat (WIF) is another dog-themed meme coin on the Solana network. Dogwifhat (WIF) quickly rose to prominence in 2023, building most of its community strength through 2024. Today, experts believe Dogwifhat (WIF) presents some potential for gains in the coming meme coin season, but recent market trends have not been so kind on the meme coin. As of this writing, Dogwifhat (WIF) is trading at $0.9907, with a tragic 40% loss over the past month. Despite the 204% gains on the yearly chart, recent market trends have forced investors to cut losses on the meme coin in pursuit of other market opportunities. Panshibi (SHIBI) Renews Investors In Meme Coins With Panda Memes Experts believe investors now face their best chance for life-changing gains yet with Panshibi (SHIBI). The new meme coin stands out as a transformative digital asset that looks to redefine the typical meme coin comic for 2025 Panshibi surpasses the meme coin trend to generate massive future possibilities. This pioneering token uses panda iconography based on Asian mythology to deliver a distinct offering to market participants. The token sale began at $0.002, and investors can expect 1,200% returns during a 60-day limited period until $10 million is reached. Through extensive tokenomics, the project establishes outstanding protection for investors. Coinsult performed the smart contract audit and locked the liquidity pool for ten years, with team tokens secured for two years. Following the presale period, the project team will relinquish control of smart contract ownership to achieve unparalleled transparency for investors. Crypto specialists remain positive, with forecasts pointing toward a possible 5,000% return by June. According to CoinGecko’s 2024 analysis, Panshibi stands ready to profit from the significant trend of meme coins, accounting for 31% of crypto investments. The token provides groundbreaking features such as 1,200% APY on staked tokens, AI community strategies in social finance, and governance participation with an exclusive VIP club for presale investors. As the crypto market prepares to surge in 2025, Panshibi stands as an entry-level opportunity for high returns this year. Early investors stand to gain enormous profits from potential exchange listings later this year alongside the expanding social media interest. The project secured over $75,000 from its launch in two days, which shows great interest in the market and potential growth. Conclusion The present market conditions offer investors a special chance to profit from new developments in the meme coin industry. Panshibi emerges as a ripe investment option amid the struggles of Shiba Inu (SHIB) and Dogwifhat (WIF). Panshibi’s fresh panda-themed idea, combined with strong tokenomics, positions it to take a large market share. The presale price of Panshibi is still in stage 2 at an affordable $0.003, and experts predict it will lead the memecoin to substantial future profits. 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 . Crypto Potato
Solana Price Faces Volatility Amid Whale Transactions and Resistance
Solana (SOL) has been experiencing significant price fluctuations, drawing attention from investors and analysts alike. While market volatility remains high, historical trends suggest that such movements have often preceded major price surges. Whale Transactions Fuel Speculation On January 31, 2025, a massive transfer of 694,746 SOL (worth approximately $165 million) took place between two unidentified … Continue reading "Solana Price Faces Volatility Amid Whale Transactions and Resistance" The post Solana Price Faces Volatility Amid Whale Transactions and Resistance appeared first on Cryptoknowmics-Crypto News and Media Platform . Crypto Potato