Paraguayan mining companies are taking a hit to their profitability due to the steep power fee hikes the government has established for cryptocurrency mining activities. According to reports from Braiins Mining business developer Nano Grijalba, after the veto of the crypto law, the change in power fees makes mining hosting an unprofitable business in Paraguay. […]
LatAm was touted as a promise land for miners just last month, but a crypto mining-friedly bill in Paraguay was shot down last week.
The country did not pass a bill that would have clarified rules regarding the cost of electricity imposed on bitcoin miners.
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 […]
The legislature this month approved a bill regulating crypto mining and trading in the country.
A bill supporting crypto mining in the South American nation now awaits presidential approval.
The legislation was approved with modifications in the country’s Chamber of Deputies, and will now return to the Senate, which had passed it in December.
If the energy sector adopts bitcoin, it could be the industry to wind up pulling the trump card.
Cryptocurrency in the South American nation of Paraguay could be facing new rules in the new year. The measure was approved by Paraguay’s Chamber of Senators last summer. Under the legislation, virtual assets are defined, and a license would be required to mine cryptocurrencies. It will now be considered by the country’s Deputy Chamber. The […]
A bill that seeks to regulate the local cryptocurrency industry has passed the the Senate of Paraguay.