Proactive - Interviews for investors
HIVE Digital scales Paraguay operations with new country president and key acquisition
HIVE Digital Technologies Ltd executive chairman Frank Holmes talked with Proactive's Stephen Gunnioin about the company’s ambitious expansion plans, particularly in Paraguay. Holmes highlighted that HIVE is set to increase its revenue from approximately $120 million to nearly $500 million, representing a fourfold growth.
A key factor in this expansion is the company's strategic presence in Paraguay, where it is leveraging the country’s abundant hydroelectric power to support its green energy commitments. Holmes introduced Gabriel Lamas, an electrical engineer specializing in high-voltage infrastructure, who will lead HIVE’s operations in Paraguay. He emphasized that Lamas' expertise will be instrumental in developing the necessary infrastructure, including substations and transformers, to support HIVE’s data centers.
Discussing the company’s recent acquisition of Yguazú, Holmes noted that this will significantly enhance HIVE’s mining capacity. With the expansion, HIVE aims to reach 25 exahash per second by September, further solidifying its position in the global Bitcoin mining sector. Holmes also pointed out that the company’s revenue per employee will rise to over $20 million, surpassing industry giants like Nvidia and Apple in efficiency.
As part of its broader vision, HIVE is also investing in workforce training and high-performance computing, aligning with global data center standards. Holmes remains optimistic about the company's growth potential despite market volatility, citing Warren Buffett’s philosophy of investing during periods of uncertainty.
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