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Holy Bitcoin: Paraguayan Power Company Detects Illegal Crypto Mining Operation in a Church

Holy Bitcoin: Paraguayan Power Company Detects Illegal Crypto Mining Operation in a ChurchThe National Power Administration of Paraguay (ANDE) recently detected an illegal bitcoin mining operation in an evangelical church. The church, which shared a power line with a nearby store, had established a connection before its power meter that was hidden within the same building. ANDE officers intervened and removed this illegal connection, estimating that it […]

Solana ETF Momentum Grows Amid Reports of SEC Engagement

Report: Paraguayan Bitcoin Mining Industry Provides Fewer Than 400 Jobs

Report: Paraguayan Bitcoin Mining Industry Provides Fewer Than 400 JobsA report presented to the Paraguayan Congress highlights the low level of employment associated with the country’s bitcoin mining activity. According to data from the Social Care Institute, the entire bitcoin mining industry is responsible for only 383 direct jobs, with over 40 companies not reporting any workers directly associated with their operations. Paraguayan Bitcoin […]

Solana ETF Momentum Grows Amid Reports of SEC Engagement

9 Bitcoin Mining Companies Suspend Activities After Power Fee Hikes in Paraguay

9 Bitcoin Mining Companies Suspend Activities After Power Fee Hikes in ParaguayNine Bitcoin mining companies have suspended their operations after the power fee hikes affecting high-consumption customers in Paraguay. According to data provided by the National Power Administration of Paraguay (ANDE), these companies had their service terminated due to the interruption of their payments, or just because they did not want to continue operating. Power Fee […]

Solana ETF Momentum Grows Amid Reports of SEC Engagement

Latam Insights: El Salvador Offers Bitcoin Instruction to 80,000 Public Servants; Mercado Libre Launches Stablecoin

Latam Insights: El Salvador Offers Bitcoin Instruction to 80,000 Public Servants; Mercado Libre Launches StablecoinWelcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue: El Salvador will offer bitcoin certification for public servants, Mercado Libre launches an in-house developed dollar-pegged stablecoin, and Paraguay keeps seizing illegal bitcoin mining operations. El Salvador to Educate 80,000 Public Servants on […]

Solana ETF Momentum Grows Amid Reports of SEC Engagement

National Power Administration of Paraguay Seizes 693 Miners in Illegal Bitcoin Mining Operation

National Power Administration of Paraguay Seizes 693 Miners in Illegal Bitcoin Mining OperationThe National Power Administration of Paraguay (ANDE) has recently detected and seized an illegal bitcoin mining operation hosting 693 miners. ANDE inspectors detected a tampered meter that failed to register all the energy consumed by the equipment connected to the power grid. The detection was carried out using SCADA systems. Paraguay Keeps Chasing Illegal Bitcoin […]

Solana ETF Momentum Grows Amid Reports of SEC Engagement

Latam Insights: El Salvador to Receive $1.61 Billion for Economic Overhaul Plan; Venezuelan Government Blocks Binance

Latam Insights: El Salvador to Receive .61 Billion for Economic Overhaul Plan; Venezuelan Government Blocks BinanceWelcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue: El Salvador attracts $1.61 billion in investments for its economic overhaul plan, the Venezuelan government blocks Binance using a state-owned ISP, and the Paraguayan justice system convicts an individual for energy theft crimes […]

Solana ETF Momentum Grows Amid Reports of SEC Engagement

Paraguay’s Power Chief: No Cryptocurrency Mining Company Has Left Yet

Paraguay’s Power Chief: No Cryptocurrency Mining Company Has Left YetFelix Sosa, president of the National Power Administration of Paraguay (ANDE), has disregarded reports indicating that a mass exodus of cryptocurrency mining companies could be brewing. Sosa stated that no cryptocurrency company had left the country yet and that there were over 400 MW in projects awaiting approval by the institution. No Cryptocurrency Mining Companies […]

Solana ETF Momentum Grows Amid Reports of SEC Engagement

Latam Insights: US Department of State Acknowledges Bitcoin Helped Revive El Salvador’s Tourism, Paraguayan Government Dismisses Power Fee Hike Concerns

Latam Insights: US Department of State Acknowledges Bitcoin Helped Revive El Salvador’s Tourism, Paraguayan Government Dismisses Power Fee Hike ConcernsWelcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: The U.S. Department of State states bitcoin helped drive tourists to El Salvador, Paraguay dismisses concerns about power fee hikes for bitcoin mining activities, and Salvadoran basic goods’ prices reach record highs. US […]

Solana ETF Momentum Grows Amid Reports of SEC Engagement

Paraguay’s President Dismisses Complaints About Power Fee Hikes From Bitcoin Mining Companies, Asserts High Interest Remains

Paraguay’s President Dismisses Complaints About Power Fee Hikes From Bitcoin Mining Companies, Asserts High Interest RemainsSantiago Peña, the President of Paraguay, recently dismissed the complaints that bitcoin mining farm operators have voiced against the power fee hikes that ANDE has enacted for these activities. Peña stated that these price increases don’t need to be consulted with the operators and that more companies in the industry are waiting to enter the […]

Solana ETF Momentum Grows Amid Reports of SEC Engagement

Hive Digital to expand operations to Paraguay for the first time

Bitcoin miner Hive Digital has plans to build a 100-megawatt mining facility in Paraguay powered by the nation’s Itaipu hydroelectric dam.

Bitcoin miner HIVE Digital Technologies has revealed plans to build a 100-megawatt mining site in Paraguay — its first site in the country — expected to more than double its mining hashrate.

The expansion announcement came after HIVE executives toured the country and met with Paraguay President Santiago Peña and senior cabinet ministers, and saw “huge potential for growth,” according to a July 22 statement.

HIVE estimates its hashrate would increase from 5.6 exahashes per second to 12.1 EH/s after the site is completed.

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Solana ETF Momentum Grows Amid Reports of SEC Engagement