Global Bitcoin Mining Expansion: Hive Blockchain CEO Aydin Kilic Discusses Growth in Canada and Paraguay, Trump's Policies, and the Electro-Dollar's Prospects
Let's Dive into Hive Blockchain's Expansion Plans and Ambitious Moves
In the bustling Bitcoin mining world, some companies are putting pedal to the metal on international growth, sustainability, and strategic positioning. Hive Blockchain is one of them, and we recently caught up with Aydin Kilic, the big cheese at Hive, during Paris Blockchain Week 2025.
We chatted about the company's bold expansion plans, how the political shifts under the Trump regime might reshape mining, and why Paraguay, not Texas, is where Hive is placing its biggest bets.
Moving Targets: Where's the Center of Gravity?
Hive has made a name for itself as a Canadian player. But as Kilic pointed out, things are shifting.
"We recently announced that our HQ is moving from Vancouver to San Antonio," Kilic shared, "but we still have the office in Vancouver. We've been listed on NASDAQ since 2021, and being domiciled in the U.S. helps us qualify for U.S. indexes. That's important for exposure and investor positioning."
Yet despite the headline move, Kilic emphasized that their mining operations remain international. They're not mining in the US, so they steer clear of the tariffs since they're not importing ASICs into the US.
When we asked about the political landscape, Kilic didn't hold back.
"Bitcoin shot up to all-time highs after Trump's win - we saw $108,000 Bitcoin, which was phenomenal," Kilic recalled. "There was a lot of excitement in the industry that his administration would bring in pro-Bitcoin, pro-mining policies."
Trump's appearance at the Nashville Bitcoin conference was a symbolic moment, according to Kilic, signaling "big things."
Kilic brought up the concept of the American electro-dollar, a new framing for the U.S. dollar's evolution.
"The U.S. dollar used to be backed by gold, then it became the petrodollar, backed by oil," he explained. "But now, with Bitcoin emerging and America as a hub for mining - backed by energy - you have the American electro-dollar. I like it. I think it's cool."
Paraguay: Hive's Mining Powerhouse of the Future
While the US grabs headlines, Hive's real operational excitement is centered in South America.
"We expanded into Paraguay - 300 megawatts. Very exciting," Kilic said with enthusiasm. "We just energized last week. We have about 1,000 machines running at 100 petahash, and we're installing thousands more every week."
By October, Hive expects to reach about 25 Exahash, representing roughly 3% of the global Bitcoin network.
What makes Paraguay so attractive? Kilic points to its renewable energy capacity.
"The Itaipu Dam is a 10.4 gigawatt hydro dam, and it feeds our site," he explained. "We have two sites: one at 100 megawatts, one at 200 megawatts, for a total of 300 megawatts of hydro energy. It's remarkable."
But Hive's South American involvement isn't just industrial. Kilic highlighted the company's efforts to give back. He outlined that in the province of Cordillera, where their 100 megawatt site is located, there are 18 schools that need electricity. They've so far completed four of these, and they plan to roll more throughout 2025 and the following years - an initiative he describes as part of their sustainable model.
Cracking the Hardware Challenge
One of Hive's more innovative moves has been its collaboration with Intel to produce custom ASIC miners, the BuzzMiners.
"We built 10,000 BuzzMiners - a hedge so we weren't completely reliant on the big three: Bitmain, MicroBT, and Canaan," Kilic explained.
Drawing on his background as an electrical engineer, Kilic approached the project with technical precision.
"We sent our own quality assurance lead to live in the factory town for two months," he shared. "People don't realize - it's not just about the chip. You need system integration: ASIC on a PCB, power supply, control circuitry, thermodynamics. Easier said than done."
Despite Intel eventually exiting the mining chip market, Hive made the project profitable.
"We've ROI'd on two of the three batches, and the machines are still mining today," Kilic said. "We're sending them to Paraguay now to mine through their full lifecycle."
Looking Ahead: A Transformative Year
Looking at the road ahead, Kilic is bullish on Hive's near-term trajectory. He said they are aiming for 25 Exahash, which represents four times (4x) growth, which, according to him, will push the company north of $1 billion market cap by scale.
He also expects the broader market to heat up once the political and economic volatility settles.
"All the smart industry guys are hoping for an $80 to $120 hash price," Kilic said. "We're at about $40 now. Historically, after a halving event, the bull market drives hash price two to three times higher. We're excited."
Kilic plans to personally visit Paraguay multiple times over the coming months as new phases of their expansion go live.
Even amid global shifts and ambitious targets, Kilic remains grounded.
"I'll always remain bullish on the U.S. as a jurisdiction to do business," he said. "But for us right now, it's all about Paraguay. It's all about scale, renewable energy, and building for the future."
Ready, Set, Grow!
So there you have it - Hive Blockchain's strategic expansion plans, with Paraguay set to play a starring role, and ambitious goals in the works. As we navigated through the future of mining with Kilic, it was clear that they're not just about making a buck - they're about building a sustainable, scalable, and impactful future for Bitcoin mining.
- Hive Blockchain, a Canadian company in the Bitcoin mining world, is expanding its headquarters from Vancouver to San Antonio, aiming for exposure and investor positioning in the US.
- Despite the move, Hive's mining operations remain international, avoiding tariffs as they aren't mining or importing ASICs in the US.
- Kilic, the CEO of Hive, recalls Bitcoin reaching all-time highs after Trump's win, expecting pro- Bitcoin, pro-mining policies under his administration.
- Though the US grabs headlines, Hive's operational excitement is centered in South America, specifically Paraguay, where they expanded to 300 megawatts and plan to reach about 25 Exahash by October.
- The Itaipu Dam in Paraguay, with a capacity of 10.4 gigawatts, provides hydro energy for Hive's sites in the region.
- Hive is also involved in giving back to the community, focusing on providing electricity to schools in the province of Cordillera.
- Hive collaborated with Intel to produce custom ASIC miners, the BuzzMiners, building 10,000 units for increased autonomy from the big three mining equipment manufacturers.
- In 2025, the company aims for 25 Exahash, which will push their market cap north of $1 billion, and expects the broader market to heat up once political and economic volatility settles.
- Kilic remains optimistic about the future, focusing on scale, renewable energy, and building a sustainable, scalable, and impactful future for Bitcoin mining, with Paraguay at the center of their growth strategy.
