Canadian Crypto Miner Pow.re Lands 100 MW Contract in Paraguay

Paraguay, in the center of South America, has abundant, cheap hydroelectricity from one of the largest dams in the world, Itaipu, which it shares with Brazil. However, as crypto miners have flocked to the country in search of cheap power, conflict with ANDE has been brewing. The utility claims the industry is taking advantage of the resource without greatly contributing to the local economy. Another key issue is the absence of infrastructure to make the electricity available for use. Source

Paraguay to Become Top Bitcoin Mining Hub in Latam According to Insight Group – Mining Bitcoin News

Paraguay, one of the smallest countries in Latam, has the conditions needed to become the next Bitcoin mining hub in the region, according to mining insight group Hashrate Index. The company notes there are many elements in favor of Paraguay, including the abundance of clean hydroelectric power sources. However, the stance that the government has taken toward cryptocurrency mining could slow this growth process. Paraguay Has All the Elements to Become a Bitcoin Mining Power in Latam, According to Insight Group Paraguay, a country not especially known for its crypto…

Paraguay Warns About Growth of Illegal Bitcoin Mining Operations and Effect on Power Stability of the Country – Mining Bitcoin News

The growth of illegal bitcoin mining operations could affect the stability of the power system in Paraguay, according to statements from the National Power Administration. The boom the country is experiencing is taking its toll on the power system, with many miners plugging in illegally and consuming high amounts of power without making payments. Paraguay Underground Mining Operations Grow Paraguay’s popularity as a country with cheap power tariffs for bitcoin mining is hurting the electric grid and might work against the stability of the power system in the country. ANDE,…

Bitcoin Miner Pow.re Begins Mining Facility Construction in Paraguay, Acquires 3,600 Microbt ASICs – Mining Bitcoin News

According to the crypto mining operation Pow.re Holdings Limited, the firm announced that it has begun construction of two new mining facilities in Asunción, Paraguay. The new data centers will manage 12 megawatts (MW) of hydroelectric power, and the firm has also acquired 3,600 Microbt Whatsminer mining rigs that produce roughly 396 petahash per second (PH/s) of hashrate. Pow.re Holdings Limited Commences Mining Facility Construction in Paraguay On October 13, Pow.re revealed that the company has commenced the construction of two new bitcoin mining facilities in Paraguay. The first site…

President of Paraguay Mario Abdo Vetoes Cryptocurrency Bill – Regulation Bitcoin News

The President of Paraguay, Mario Abdo has issued an executive veto on a recently approved cryptocurrency bill. Abdo’s veto decree states cryptocurrency mining is an “energy-intensive” and a low-value-added activity. The bill will now be returned to Congress to be approved again or to be rejected entirely. President of Paraguay Considers Cryptocurrency Mining an Energy Intensive Activity The President of Paraguay, Mario Abdo, has exerted an executive veto on the recently approved cryptocurrency bill, after more than a year of discussions in the Paraguayan Congress. The project, which…

President of Paraguay vetoes crypto regulation law

Paraguay’s president, Mario Abdo Benítez, vetoed a bill that sought to recognize cryptocurrency mining as an industrial activity on Monday. He reasoned that mining’s high electricity consumption could hinder the expansion of a sustainable national industry.  The decree stated that crypto mining uses intensive capital with low manpower usage, and therefore would not generate added value on par with other industrial activities. Around the world, cryptocurrency is one of the largest job creators. The LinkedIn’s Economic Graph shows that crypto and blockchain jobs listing rose 615% in 2021 compared to…

National Power Administration Will Propose a Special Cryptocurrency Mining Fee in Paraguay – Regulation Bitcoin News

The National Power Administration of Paraguay has proposed to set a special mining fee for cryptocurrency mining operations in a decree project directed to the national economic team. Due to the immense losses the organization has faced, it has stopped supplying energy to some mining operations that were evading the payment of power bills, being illegally connected to the grid. National Power Administration to Change Power Billing Structure for Mining Operations in Paraguay The National Power Administration is proposing a new way of charging cryptocurrency companies for the…