Paraguay has a peculiar energy problem. The country co-owns one of the biggest hydroelectric dams on the planet but only uses about 20% of its share of the output. For decades, the surplus got sold to Brazil at bargain rates. Now, Bitcoin miners have figured out that cheap, abundant, renewable electricity is basically a cheat code for their business.
HIVE Digital Technologies completed Phase 2 of its Yguazú mining facility in Valenzuela, Paraguay, in September 2025, bringing the operation to its full 200 megawatt capacity. The site now mines more than 8 Bitcoin daily, and HIVE’s global hashrate has surpassed 18 EH/s. That makes Yguazú the company’s largest facility and one of the most significant Bitcoin mining operations in all of Latin America.
Why Paraguay, and why this dam
The Itaipú Dam, straddling the border between Paraguay and Brazil, has an installed capacity of 14 GW. Paraguay’s domestic electricity demand doesn’t come close to consuming its half of that output.
Power costs for mining in Paraguay have risen from around $0.03 per kWh historically, but they remain competitive compared to most other mining jurisdictions globally.
