Welcome back to The Mining Pod! For this week’s Bitcoin Stock Show, Colin welcomes Hive Executive Chairman Frank Holmes and CEO Aydin Kilic to discuss the company’s LOI to acquire Bitfarms’ 200 MW bitcoin mine in Yguazú, Paraguay for $85 million ($56 million for the site, $19 million for the PPA, and $10 million for construction contract). Once fully energized, the acquisition and Hive’s other, 100 MW site in Paraguay should catapult the company from 6 to 25 EH/s under management. During the conversation, Holmes and Aydin discuss why they are putting so many chips on Paraguay, the timeline for the 200 MW site’s completion, why they are outfitting it with Antminer S21 Hydros, and more.
Timestamps:
00:00 Start
01:52 Deal process
07:48 Capital access & foreign mining sites
17:24 Tariffs on energy
24:15 Paraguay roll out phases
28:58 Cooling
32:02 Deal hand off
33:22 PPA
34:35 Regional power make up
39:24 Other Paraguay site?
40:08 2025 predictions
43:57 Energy as sovereign asset
Published twice weekly, "The Mining Pod" interviews the best builders and operators in the Bitcoin and Bitcoin mining landscape. Subscribe to get notifications when we publish interviews on Tuesday and a news show on Friday!
