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“Paraguay has access to an abundance of surplus renewable power, and these acquisitions secure valuable, yet limited, sustainable energy contracts while broadening our foothold in a resource-rich country,” Geoff Morphy, CEO of Bitfarms, said in a statement. Source
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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
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At the World Digital Mining Summit in Cancun, Mexico, last month, Bitmain, the world’s largest bitcoin mining rig manufacturer and the host of the conference, touted Latin America, particularly Paraguay and Argentina, as promising countries for mining. About a quarter of the conference was dedicated to the topic of “Latin
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The bill would cap how much the grid operator can charge bitcoin miners for electricity. Original Source
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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
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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
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The South American country with abundant hydropower wants to attract bitcoin miners. Original Source
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El texto ahora deberá ser aprobado o vetado por el poder ejecutivo del país. Source
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Cryptocurrency regulation in Paraguay is progressing steadily, as a crypto bill introduced in December has been approved by the Chamber of Representatives in the country. The bill, which contains definitions and rules for cryptocurrency mining, one of the hot topics in Paraguay due to the cheap electricity costs, will be
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A cryptocurrency bill introduced in July to the Senate of Paraguay has been approved. The text, which defines several important concepts including virtual assets, and establishes the need for licenses to mine cryptocurrencies, will now advance to the Deputy Chamber to be discussed. Paraguay Could Approve Crypto Law by Next Year A
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