In the second exclusive interview of the “Treasury Series” for Irish Tech News, Selva Ozelli Esq, CPA, Author of Sustainably Investing in Digital Assets asks Hive’s President and CEO Aydin Kilic why he decided to move his sustainable BTC mining company headquarters to the US.
President Donald Trump signed the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) into law on July 18th making it the first federal law to regulate stablecoins. Approved by Congress on Thursday, July 17th the bill’s passage saw the digital asset industry assets — particularly digital asset treasury company stocks– surge past a $4 trillion market capitalization for the first time with a report by Coincub showing increased digital asset activity in the US. The GENIUS Act imposes federal and state oversight on stablecoins — digital assets backed by the U.S. dollar — transforming realms of finance forever and making President Trump the de facto crypto president of our Nation.
The US’s new digital asset strategy as detailed in the crypto report has company CFO’s increasingly viewing digital assets as strategic reserve assets. Some are establishing dedicated corporate entities to hold digital assets on their balance sheets and raising capital specifically to acquire them for reserve as detailed in my first interview in the “Treasury Series” is titled “Public Companies You Didn’t Know Are Investing in Altcoins, insights with Brian Rudick”.
Other digital asset technology companies like Hive Digital Technologies are moving their headquarters to the US particularly after President Trump announced that Bitcoin, Ethereum, XRP, Solana, and Cardano will be included in the Nation’s ‘Crypto Strategic Reserve’. And Eric Trump Co-founder and Chief Strategy Officer of American Bitcoin at the Consensus 2025 Conference announced “The launch of American Bitcoin [which] represents a transformative moment for Bitcoin mining in North America… I am so proud to share our bold vision for this initiative, which we believe will become the world’s largest and most efficient pure-play Bitcoin miner.” Recently, Trump Media acquired about $2 billion in Bitcoin as part of its plan to become a BTC treasury company.
Aydin Kilic interview
Tell us about your educational and professional journey that led you to become the CEO of Hive Digital Technologies?
My path to becoming HIVE’s President & CEO has been anything but conventional. I began my career in electrical engineering, specializing in radio frequency systems. That technical foundation gave me a strong appreciation for infrastructure, systems optimization, and scalability: skills that continue to serve me in the digital asset space.
After engineering, I shifted into Vancouver’s competitive real estate market, working in land development and distressed assets. It was a crash course in deal-making, risk management, and the financial discipline of cash flow, all of which became critical when I co-founded Fortress Blockchain during the 2017 crypto bull run. We started as a small mining operation, but within a month we raised $20 million, acquired a 2 MW facility, and went public. That experience was transformative and positioned me to step into larger leadership roles in the blockchain industry.
I joined HIVE in 2021, just in time to help ring the Nasdaq opening bell. Since then, I’ve helped guide the company through some of the most pivotal moments in crypto, from Ethereum’s transition to proof-of-stake and two Bitcoin halvings, to our custom ASIC collaboration with Intel and, most recently, our expansion into AI and high-performance computing. It’s been a dynamic and rewarding journey, and one that’s just getting started.
With about 50% of BTC mining companies utilizing renewable energy which are often the cheapest source of electricity, tell us about the advantages, the types of green energies the company utilizes and where the company’s data centers are located?
Sustainability has been at the core of HIVE’s mission since day one. We’ve built and operated data centers in Canada, Sweden, and most recently, Paraguay, all of which are powered by renewable energy, primarily hydroelectricity.
In Canada and Sweden, we leverage abundant hydro power, which not only provides us with cost-effective electricity but also aligns with our commitment to environmental responsibility. Our newest expansion in Paraguay draws energy from the Itaipu Dam, one of the largest hydroelectric facilities in the world and the largest in the western hemisphere. That gives us access to an exceptionally stable and clean power source with a minimal carbon footprint.
The advantages of using green energy go far beyond sustainability. Hydropower offers highly competitive electricity rates, which is critical in an industry where margins are tight and efficiency is everything. It also ensures long-term operational stability, which is key as we expand into high-performance computing and AI workloads, both of which are energy-intensive.
By situating our data centers in regions rich in renewable energy, we’re able to align profitability with environmental stewardship, something we believe is essential for the future of digital infrastructure.
Tell us about HIVE’s hydro-powered facility in Yguazu, Paraguay?
In Paraguay, we’re building three cutting-edge, hydro-powered data center campuses that will help position the region as a hub for Bitcoin innovation. Our flagship site in Yguazu will have 200 MW of capacity, with another 100 MW coming online soon in Valenzuela. All are powered by clean, reliable hydroelectricity from the Itaipu Dam.
This expansion has already doubled our global footprint in early 2025, and we expect it to more than double again by American Thanksgiving. It’s a major step forward in scaling our operations sustainably and responsibly.
Several countries have achieved nearly 100% renewable energy generation, primarily through hydropower and other sources like geothermal and wind. Examples include Iceland, Norway, Costa Rica, Paraguay, and Albania. Is your company planning expansion into these countries?
We’ve evaluated renewable-rich regions around the world, and while many countries offer strong potential, Paraguay stood out. It offers a rare combination of political stability, abundant hydroelectric power, and a supportive environment for long-term infrastructure investment.
Our expansion there brings stable U.S. dollar revenue to the national utility and contributes to broader goals: job creation, digital skills development, and economic growth. We apply strict criteria when assessing new markets, and after analyzing nearly every viable region, Paraguay was the clear choice for our next phase of sustainable growth.
HIVE recently moved its headquarters to San Antonio, TX, US. Please tell us more about the reasons for this move?
Relocating our head office to San Antonio, Texas marked a strategic step in HIVE’s continued growth. The U.S. is the world’s largest and most dynamic market for blockchain innovation, and Texas, in particular, offers a business-friendly environment, strong energy infrastructure, and access to top tech talent.
This move strengthens our proximity to deeper capital markets, expands our investor base, and enhances our ability to scale. The evolving U.S. regulatory landscape, especially under Trump administration’s pro-Bitcoin stance, further aligns with our long-term vision.
By positioning ourselves in the U.S., we’re not only reinforcing our commitment to innovation and shareholder value but also expanding our footprint in a country that prioritizes both energy leadership and digital asset advancement.
Was President Donald Trump’s digital asset legislative initiatives a contributing factor in the decision to move your company’s headquarters to the U.S.?
Yes, it was. The Trump administration has demonstrated a more pro-Bitcoin stance, emphasizing innovation and establishing a regulatory framework for the cryptocurrency ecosystem. President Trump has stated that under his leadership, America would become a safer and more attractive place for Bitcoin miners by implementing policies to ensure the U.S. has the cheapest energy globally, fostering innovation, and creating a regulatory environment that supports cryptocurrency operations. This policy direction further supports HIVE’s strategic goals. We also expect the move our stating our March 31, 2025 year-end financial statements in GAAP to facilitate deeper relationships with our U.S.-based investors and partners.
According to a study, US annual clean-energy installations are expected to plunge 41% after 2027, due to the rapid phase-out of wind and solar tax credits in President Donald Trump’s sweeping economic legislation. Will this impact your company and make renewable energy BTC mining more expensive?
We’re closely monitoring U.S. policy developments, but these changes will not impact our current operations. HIVE’s data centers are located in Canada, Sweden, and Paraguay, all of which are powered primarily by hydroelectricity, not wind or solar.
That said, a reduction in wind and solar incentives could increase costs for miners relying on those sources within the U.S. For us, our focus on stable, low-cost hydro power continues to insulate our operations from such volatility while supporting long-term sustainability.
Is there anything else you would like to add?
This is the year of HIVE, and we’re just getting started.
We’ve executed ahead of schedule, already doubling our global hashrate in 2025 and on track to double it again by American Thanksgiving. At the same time, we’re accelerating the growth of BUZZ HPC, positioning it as a global leader in sovereign AI infrastructure.
All of this has been achieved with one of the leanest, highest-performing teams in the industry. Our focus remains on operational excellence, efficiency, and hyperscaling with speed, because the ever-evolving world of digital infrastructure demands nothing less.
How can people reach you?
You can find me on X (formerly Twitter) at @aydinkilichive, and be sure to follow HIVE at @HIVEDigitalTech to stay up to date on
Selva Ozelli Esq, CPA is an international digital asset legal expert and author of Sustainably Investing in Digital Assets Globally. Her writings are translated into 45 languages and republished in over 200 global publications. She is recognized as an expert media/TV commentator on global tax and technology matters.
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