Paraguay tests state-run Bitcoin mining
Using equipment confiscated from illegal operators, Paraguay launched a pilot program for bitcoin mining. The results will allow for an evaluation of the feasibility of a national BTC reserve plan
Paraguay will evaluate future state-run bitcoin mining after launching a pilot program using equipment seized from illegal operators.
The South American country’s initiative puts BTC mining back into focus after “years of tension surrounding the activity. For a time, the country established itself as an attractive destination for miners thanks to cheap electricity and a favorable regulatory environment.”+However, with the massive influx of “illegal installations,” energy theft occurred, and public pressure on the authorities increased. Hence the state’s response to control clandestine operations.
Currently, efforts are underway to repurpose 1,500 of the 30,000 ASIC machines seized, with support from the technology company Morphware and the state-owned electric utility, the National Electricity Administration (ANDE). These entities have established a memorandum of understanding that sets out a framework for cooperation to analyze the plan’s feasibility.
The machines “will be located in facilities controlled by ANDE, specifically near electrical substations to take advantage of the existing infrastructure.”
Although experts indicate that the hardware is very old, the idea is to leverage the country’s energy surplus, known for its low cost and abundance, to power the equipment recovered from illegal operations.
M.Pino
Source: cripto247
(Reference image source: Erling Løken Andersen on Unsplash)
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