Mining company Hive Digital announced an investment of 60 million dollars to enter Paraguay

ChainCatcher news, according to Decrypt, mining company Hive Digital announced an investment of $60 million to enter Paraguay.

Hive Digital announced that it has purchased 13,480 new mining machines to expand its operations in the South American country. The deal, valued at over $60 million, will help the company capture 2% of the global Bitcoin network. The Bitmain Antminer S21+ Hydros offers a hash rate of 4.3 Exahashes per second (EH/s).

Executive Chairman Frank Holmes stated that once fully deployed, expanding to 15 EH/s will "drive Hive's annual revenue to over $300 million and generate over $200 million in mining profits based on current mining economics."