Paraguayan Pioneers: Bitcoin Mining's New Frontier

Consensus Toronto 2025: Hive's Frank Holmes on Expanding Bitcoin Miner's Operations in Paraguay

TORONTO – Hive, a leading bitcoin mining operation, is expanding its operations in Paraguay, according to Frank Holmes, the company's CEO. Holmes shared the news during a panel discussion at Consensus Toronto 2025, highlighting the benefits of the move for the company and the region.

Hive has been operating in Paraguay since 2021, and the expansion will see the company increase its mining capacity in the country. Holmes explained that the decision was driven by the country's favorable climate and regulations, as well as the availability of renewable energy sources.

"Paraguay is an ideal location for us to expand our operations," Holmes said. "The country has a great climate for mining, and the government is very supportive of the industry. We're also able to source renewable energy at a very competitive price, which is important for our sustainability goals."

The expansion is expected to create new jobs and stimulate economic growth in the region. Holmes emphasized that Hive is committed to being a responsible corporate citizen, and the company is working closely with local authorities to ensure that its operations have a positive impact on the community.

"We're not just a mining company – we're a partner in the community," Holmes said. "We're working with local organizations to provide training and education programs, and we're committed to being a force for good in the region."

The expansion is also expected to increase Hive's overall mining capacity, allowing the company to continue to grow its bitcoin mining operations. Holmes noted that the company is focused on long-term sustainability and is committed to using its mining operations to support the growth of the cryptocurrency ecosystem.

Hive's expansion in Paraguay is the latest in a series of moves by the company to increase its mining capacity and presence in the region. The company has been investing in renewable energy sources and is committed to reducing its carbon footprint.

Consensus Toronto 2025 is a premier event for the blockchain and cryptocurrency industries, featuring keynote speakers, panel discussions, and networking opportunities. The event is being held at the Metro Toronto Convention Centre and runs from April 5-8.