HIVE Digital Technologies (NASDAQ:HIVE) announced Tuesday a strategic joint venture to launch the BUZZ AI cloud platform in Asunción, marking one of Paraguay’s first purpose-built facilities for artificial intelligence and high-performance computing (HPC).
The project will be hosted in a Tier III data center and is designed to serve a growing regional demand for enterprise-grade AI infrastructure.
HIVE expects the initial deployment of its GPU clusters to commence in the first quarter of 2026.
The move signals a major pivot for the company as it transitions from its roots in cryptocurrency mining toward a "twin-engine" business model that balances blockchain operations with sovereign AI cloud services.
The new platform will leverage Paraguay’s abundant renewable energy, specifically hydroelectric power from the Itaipú Dam, which already supports HIVE's existing 300-megawatt Tier I operations in the country.
By utilizing the national fiber network of Paraguay’s leading telecommunications provider, the BUZZ platform aims to provide low-latency, high-capacity computing for academic institutions, financial services, and healthcare providers across South America.
HIVE’s executive leadership noted that the facility's design allows for significant scalability.
Subject to regulatory approvals, market demand, and capital availability, the company anticipates expanding the site by an additional 100 megawatts later in 2026.
This expansion would bring HIVE’s total renewable footprint in Paraguay to 400 megawatts.
The shift toward AI and HPC workloads comes as digital asset miners seek more stable revenue streams following fluctuations in the global crypto market.
HIVE’s BUZZ division has already established a presence in Canada and Sweden, and the Paraguayan venture represents its most significant push into the Latin American tech sector.