Category: Paraguay

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Latam Insights: Paraguay Unveils Bitcoin Mining Centric Development Strategy, Itau Unibanco Rolls Crypto Trading for All Customers

June 16, 2024

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Paraguay unveiled a bitcoin mining-centric strategy, Itau Unibanco rolled out crypto trading services for all its customers, and Worldcoin decided to establish a hub in Argentina. Paraguayan Minister Unveils Future Economic Strategy Centered…
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Paraguayan Minister Unveils Future Economic Strategy Centered on Bitcoin Mining for Industrial Transition

June 10, 2024

Javier Gimenez, from the Paraguayan Ministry of Industry and Commerce, revealed that the government plans to take advantage of the energy sold to legal bitcoin mining operations. Gimenez stated that selling Paraguay’s energy to bitcoin mining companies is part of the government’s strategy, which seeks to rebuild its industry in three years as part of…
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Latam Insights: Paraguay Shuts Down Largest Illegal Bitcoin Mining Farm to Date, Argentina and El Salvador Discuss Bitcoin

June 3, 2024

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Paraguay shut down the largest illegal bitcoin mining operation to date, Argentine and Salvadoran officials met to discuss bitcoin issues, and Ocean launched a global hub in El Salvador. Paraguayan Authorities Shut Down…
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Latam Insights: Venezuela Seizes Over 11,000 Bitcoin Miners, Paraguay Cracks Down on Illegal Bitcoin Mining

May 27, 2024

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Venezuela seizes over 11,000 bitcoin miners to save energy, Paraguay cracks down on illegal bitcoin mining, and Brazil aims to finalize crypto regulations this year. Venezuelan Authorities Announce Bitcoin Mining Ban, Confiscate Over…
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Paraguay Cracks Down on Illegal Bitcoin Mining: Over 550 Miners Seized

May 24, 2024

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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Latam Insights: El Salvador Embraces Geothermal Bitcoin Mining, Bitfarms Expands Its Capacity in Paraguay

May 20, 2024

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: El Salvador produced nearly 474 bitcoin using geothermal energy, Bitfarms expanded the capacity of its Paraguayan bitcoin mining facility, and Bitso launched an in-house Web3 wallet. El Salvador Reportedly Mined Nearly 474 BTC…
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Paraguay Proposes Harsh Penalties for Illegal Bitcoin Mining

May 20, 2024

The Paraguayan government is urging lawmakers to pass a bill that would impose up to 10 years in jail for illegal bitcoin miners, in response to the large amounts of electricity theft threatening the state-owned National Electricity Administration (ANDE). The bill includes provisions for Paraguayan police and prosecutors to seize and sell off mining equipment…
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Paraguay Gov’t Looks to Jail Illegal Bitcoin Miners for ‘Up to 10 Years’

May 20, 2024

The government of Paraguay will ask lawmakers to approve a bill that proposes jailing illegal Bitcoin (BTC) miners for up to 10 years. The presidential spokesperson Paula Carro told reporters on Friday May 17 that the government has sent the bill to parliament “as a matter of urgency.” 10 Years in Jail: Illegal Bitcoin Miners Face…
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Bitcoin Miner Bitfarms Enhances Paraguay Facility With New 100 MW Hydropower Deal

May 14, 2024

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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Latam Insights: Bitcoin Hurts El Salvador Credit Opportunities, Paraguay Supports Selling Power to Crypto Miners

April 15, 2024

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Bitcoin hinders El Salvador’s credit talks with the IMF, the Paraguayan Senate issues a statement supporting bitcoin miners, and Venezuela unveils a crypto-linked corruption scheme. Bitcoin Reportedly Hurts El Salvador Credit Opportunities With…
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