Bitfarms Ltd. announced the finalization of a share purchase agreement with Canadian Securities Regulatory Authorities regarding the sale of a Bitcoin mining site in Yguazu, Paraguay, to Hive Holdings. This development confirms the completion of a major acquisition for HIVE Digital Technologies.
The transaction involves the 200-megawatt hydro-powered Bitcoin mining facility, which HIVE previously announced its intent to acquire for $56 million. This acquisition is a cornerstone of HIVE's strategy to significantly expand its global Bitcoin mining capacity.
The successful finalization of this agreement is expected to contribute to HIVE's target of increasing its global Bitcoin mining capacity to 25 EH/s by September 2025. This expansion is crucial for HIVE to maintain its competitive position and enhance its energy efficiency in the digital asset mining industry.
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