Bitcoin miner HIVE Digital has announced the completion of a $56 million deal to acquire Canadian miner Bitfarms' partially completed 200 trillion watt (MW) bitcoin mine in Iguazu, Paraguay. HIVE has signed a binding letter of intent with Bitfarms and expects to expand its bitcoin mining hashrate to 25 EH/s in September through this acquisition, leveraging low-cost renewable hydroelectric power in Paraguay. The $56 million acquisition includes a $25 million upfront payment expected upon completion of Quarter 1, with the remaining $31 million to be paid in six equal installments over the next six months.