HIVE Digital Technologies is making significant strides in Paraguay by leveraging its renewable energy initiatives. The company recently premiered a short film that underscores its commitment to integrating with local communities while utilizing sustainable energy sources.
Paraguay’s Unique Energy Landscape
Paraguay is a leader in hydroelectric power, with the Itaipu Dam at the center of its energy infrastructure. This facility is recognized as one of the largest hydroelectric plants globally. Luke Rossy, COO of HIVE, noted the country’s abundant untapped energy as a key factor for the company’s investment.
Hydroelectric Power in Paraguay
According to Gabriel Lamas, HIVE’s country president, Paraguay’s energy matrix relies entirely on hydroelectric sources. The Itaipu Dam boasts a remarkable maximum capacity of 14,000 megawatts. HIVE currently utilizes approximately 300 megawatts, amounting to roughly half of one turbine’s potential.
Operational Metrics and Economic Impact
- HIVE’s operational efficiency recorded a run rate revenue of one million dollars daily.
- The company projects this number could escalate to $500 million when reaching 25x a hash.
- HIVE’s efficiency stands at an impressive 17.5 joules per terahash.
Frank Holmes, executive chairman, shared insights on the construction of the Itaipu Dam, which took 14 years to complete and employed around 40,000 workers to achieve its capacity of 10 gigawatts. This level of engineering, combined with environmentally friendly energy production, sets Paraguay apart.
Community Engagement Initiatives
Beyond energy contributions, HIVE is dedicated to fostering community development. CEO Ayden Kilic emphasized their community engagement strategy, which includes renovating local schools and providing electricity to rural areas. So far, the company has electrified 18 schools, ensuring that education can continue in well-lit environments.
Commitment to Sustainable Practices
HIVE Digital Technologies exemplifies a dedication to renewable energy and technological innovation in its Paraguayan operations. The company’s focus on sustainability and community development reflects its long-standing commitment to positive change within the regions it operates.
