The National Power Administration of Paraguay (ANDE) has surprised cryptocurrency mining operators by raising power fees by 14%, affecting the profitability of these activities. The rise have already caused the exit of a company that planned to invest over $400 million in the country due to the lack of clarity in the area. Paraguay Raises…
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National Power Administration (ANDE) employees have been accused of participating directly in setting up illegal bitcoin mining farms in Paraguay. According to local sources, seven engineers of the institution would have been installing bitcoin farms across the country as the prosecutor’s office is carrying out this investigation with ANDE’s cooperation. Seven ANDE Engineers Involved in…
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Paraguayan authorities have intensified their efforts to fight illegal bitcoin mining, using innovative techniques including artificial intelligence (AI) and its distribution systems to detect these activities. In less than a week, two new illegal bitcoin mining operations have been closed with over 550 miners seized, causing undetermined damages to the National Power Administration (ANDE). Paraguay…
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On Tuesday, bitcoin mining company Bitfarms, listed on the Nasdaq and Toronto Stock Exchange (TSX), announced it has secured an additional 100 megawatts (MW) of power from Paraguay’s state-owned utility firm, ANDE. The 100 MW is anticipated to double the capacity of the hydro-powered Yguazu site and should be fully operational by 2025. Bitfarms to…
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The Government of Paraguay will strengthen the measures directed to combat the illegal cryptocurrency mining operations in the country. In a recent meeting, ANDE, the National Power Administration, the Supreme Court, and the Department of Justice, agreed to deal with these crimes swiftly given the damages they cause to the Paraguayan power grid. Paraguay Prepares…
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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…
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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…
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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 passed to the Senate to…
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