LATAM Crypto News: El Salvador Doubles Investments in Gold and Bitcoin as HIVE Expands in Paraguay
In a significant week for Latin America’s cryptocurrency and investment landscape, El Salvador has announced a historic increase in its gold and Bitcoin reserves, while Canadian-based mining firm HIVE Digital Technologies has expanded its operations in Paraguay. Meanwhile, Brazilian asset manager Itaú Asset has launched a dedicated cryptocurrency division to broaden its digital asset offerings.
El Salvador Bolsters Reserves by Investing $50 Million in Gold and Increasing Bitcoin Holdings
El Salvador, a pioneer in adopting Bitcoin as legal tender, has taken a landmark step by purchasing $50 million worth of gold—the country’s first such purchase in 35 years. This acquisition raises El Salvador’s total gold reserves by over 31%, bringing holdings to approximately 58,105 ounces valued at $207 million.
Simultaneously, the Central American nation continues to accumulate Bitcoin, now holding over 6,290 BTC, which amounts to more than $706 million. This dual-reserve strategy is designed to balance risk with opportunity by combining gold—a traditional safe haven asset—with Bitcoin, symbolizing financial innovation.
To mitigate technical risks such as those potentially posed by future quantum computing, the government has redistributed its Bitcoin holdings across multiple wallets, each containing fewer than 500 BTC. This diversification strategy aims to enhance security.
By enhancing its gold reserves, El Salvador not only cushions the volatility associated with cryptocurrencies but also signals financial prudence to global institutions like the International Monetary Fund (IMF). The move exemplifies the country’s commitment to blending cutting-edge digital finance with conventional asset management to strengthen economic stability.
HIVE Digital Technologies Exceeds 18 EH/s Mining Capacity with Renewable Energy in Paraguay
On September 3, 2025, HIVE Digital Technologies Ltd. announced the successful completion of Phase 2 of its Yguazú Bitcoin mining project in Paraguay, pushing its mining capacity to over 18 exahashes per second (EH/s). This milestone surpasses the company’s original target of 17 EH/s with the early installation of advanced ASIC mining hardware.
HIVE’s Yguazú facility, powered entirely by 200 megawatts (MW) of renewable hydropower from the Itaipú Dam, stands as the largest mining operation in the company’s portfolio to date. The company now mines over eight Bitcoin per day and solidifies its position as a major global mining competitor.
Plans are underway to finish the Phase 3 site in Valenzuela, Paraguay, a 100 MW green energy project expected to be ready for ASIC installation soon. Upon commencement, HIVE anticipates its combined global hash rate will exceed 25 EH/s—roughly three percent of the entire Bitcoin network—boosting daily Bitcoin production to approximately 12 BTC.
Itaú Asset Management Launches Cryptocurrency Division in Brazil
Brazil’s largest private asset manager, Itaú Asset Management, has established a dedicated cryptocurrency division within its multi-billion dollar investment fund operations. The new crypto unit will be led by João Marco Braga da Cunha, a former portfolio management director at Hashdex, a leading Brazilian firm specializing in cryptocurrency ETFs.
This initiative aims to provide alpha generation opportunities for clients by leveraging the volatility and unique features of digital assets. Itaú’s crypto offering builds upon its existing investment products, including a Bitcoin ETF and pension fund portfolios with cryptocurrency exposure.
Currently managing over 1 trillion Brazilian reais (approximately $185 billion) in assets, Itaú also offers a mobile application allowing clients to trade 10 different cryptocurrencies such as Bitcoin, Ether, Solana, and USD Coin, secured under internal custody controls.
The new division intends to develop a suite of financial products ranging from fixed-income instruments to high-volatility strategies employing derivatives and staking-based funds. This effort highlights Itaú’s strategic commitment to expanding its role in the burgeoning digital asset market.
Outlook for LATAM Crypto Market
These developments reflect Latin America’s growing prominence in the global cryptocurrency ecosystem. El Salvador’s hybrid reserve strategy exemplifies innovative efforts to blend traditional and digital assets for financial resilience. Meanwhile, HIVE’s renewable-energy-powered mining expansions in Paraguay demonstrate sustainable growth in crypto infrastructure. Finally, Itaú’s foray into cryptocurrency investment management underscores institutional confidence in the region’s digital asset potential.
As Latin American nations and firms continue to embrace cryptocurrencies and related technologies, the region is poised for significant evolution in its financial and technological sectors. Investors and market watchers will be keen to monitor how these initiatives influence both regional economies and the broader crypto industry.
— Reporting by Noris Soto for Invezz