Hive Digital Technologies (HIVE) said Monday it is expanding into Paraguay through a strategic joint venture with the country's leading telecommunications provider.

The partnership involves launching an artificial intelligence cloud platform in Asuncion within a Tier III data center, the company said.

The site will provide high-performance computing infrastructure for research institutions, financial firms, and healthcare providers in South America, Hive said.

Initial deployment of an enterprise-grade GPU cluster is expected to start during Q1 and the project will use Paraguay's renewable hydroelectric power and an extensive national fiber optic network, it said.