HIVE Digital Technologies is doubling down on Paraguay as the centerpiece of its Bitcoin mining expansion, with the company’s newly appointed country site president outlining a vision built on clean energy, disciplined growth, and operational leadership in one of South America’s most energy-rich nations.
Gabriel Lamas, who took over as HIVE’s Country Site President in March 2025, has been vocal about what he sees as the recipe for sustainable Bitcoin mining: cheap hydroelectric power, careful scaling, and strong on-the-ground management.
Paraguay’s power advantage
The country sits downstream from the Itaipú Dam, one of the largest hydroelectric power plants on the planet. HIVE operates two major facilities in the country: a 200 MW site at Yguazú, acquired in early 2025, and a 100 MW facility at Valenzuela, completed the same year. Combined, that’s 300 MW of hydroelectric-powered mining capacity.
Paraguay generates far more hydroelectric power than its domestic economy can absorb. That surplus energy, sometimes called “stranded” power, sits there doing nothing unless someone finds a use for it. Bitcoin mining fits that gap almost perfectly.
