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⛓️ Crypto🟢 Bullish
From Contraband to Cash Flow? Paraguay To Mine Bitcoin With 30,000 Seized Rigs
🤖AI Summary
Paraguay's state electricity company ANDE has partnered with Morphware to launch a government-run Bitcoin mining operation using 30,000 seized mining rigs and surplus hydroelectric power. This makes Paraguay the latest nation-state to enter Bitcoin mining, joining El Salvador and Bhutan in using domestic energy resources for state-controlled cryptocurrency operations.
Key Takeaways
- →Paraguay's ANDE will become a state-run Bitcoin miner using 30,000 confiscated mining rigs seized from illegal operations.
- →The program will utilize surplus hydroelectric power from the Itaipú dam instead of exporting it at low treaty-defined prices.
- →Morphware will serve as technical advisor for the pilot phase starting with 1,500 miners at existing utility buildings.
- →Paraguay joins El Salvador and Bhutan as nation-states using domestic energy resources for government-controlled Bitcoin mining.
- →The seized miners were confiscated during 2024 raids against illegal mining operations stealing electricity worth around $146,000 monthly.
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#paraguay#bitcoin-mining#government#hydroelectric#seized-rigs#ande#morphware#nation-state#energy-policy#latin-america
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