Excessive Greed: More Bitcoin Mining Companies Are Abandoning Paraguay for Brazil

July 22, 2024 Bitcoin.com

ANDE

The recent power hikes that ANDE has enacted for Bitcoin mining companies are already impacting their operations in Paraguay. According to recent reports, the Penguin Group, a cryptocurrency mining operator, has already signed a contract to secure 400MW of energy in Brazil. This could be a potential destination that other companies are considering. Paraguayan Bitcoin […]

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Paraguayan Senate Passes Law Imposing up to 10 Years of Jail Time on Crypto Miners for Electricity Theft

July 12, 2024 Bitcoin.com

bitcoin.com

The Paraguayan senate has passed a series of reforms that changed penalties for energy and cryptocurrency mining-related energy theft. Now, individuals and companies found to be stealing energy for cryptocurrency mining activities will face jail time for up to 10 years, while energy theft for other purposes will face penalties for up to three years. […]

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Latam Insights: Paraguay Raises Bitcoin Mining Power Fees, Bolivia Praises Stablecoins as Dollar Proxy

July 7, 2024 Bitcoin.com

bitcoin.com

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Paraguay raises bitcoin mining power fees, Bolivia talks about the utility of stablecoins as dollar alternatives, and Kavak tokenizes debt in Brazil. Paraguay Raises Bitcoin Mining Power Fees by 14%, Companies Mull Stopping […]

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Corruption in Paraguay: Senator States Illegal Bitcoin Mining Farms Pay up to $500,000 to Operate Underground

July 6, 2024 Bitcoin.com

Corruption in Paraguay: Senator States Illegal Bitcoin Mining Farms Pay up to 0,000 to Operate Underground

ANDE

Salyn Buzarquis, a Paraguayan senator, blasted the National Power Administration of Paraguay (ANDE), stating that high-ranking officials charged illegal bitcoin mining farms for operating underground. Buzarquis stated these unnamed officials collected up to $500,000 in bribes monthly and called for the resignation or interrogation of ANDE’s President Felix Sosa on this matter. Senator States National […]

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Paraguay Raises Bitcoin Mining Power Fees by 14%, Companies Mull Stopping Operations

July 2, 2024 Bitcoin.com

ANDE

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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Latam Insights: Argentina Reaches Zero Inflation, Central Bank of Bolivia Unbans Bitcoin

July 2, 2024 Bitcoin.com

Argentina

Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: Argentina reached zero inflation in food and beverages in June, the Central Bank of Bolivia unbans bitcoin, and several employees of the Paraguayan power company were allegedly involved in illegal bitcoin mining operations. […]

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Bitfarms mined 21% more Bitcoin in June amid Riot takeover attempts

July 1, 2024 Coin Telegraph

bitcoin production

Bitfarms increased its online hashrate to 10.4 exahashes per second in June, marking a 39% month-on-month increase.

Bitcoin miner Bitfarms upped its month-on-month Bitcoin (BTC) production by 21% in June whilst fending off attempts of a company takeover by Riot Platforms, one of its biggest competitors.

Bitfarms mined 189 Bitcoin in the month and sold 134 of those Bitcoins for $8.8 million, the firm revealed in a July 1 statement. It now holds 905 Bitcoin, worth $57 million, in its treasury.

However, its Bitcoin production fell 51% compared to June, 2023, due to the latest halving event slicing the block subsidy by 50%.

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National Power Administration ANDE Employees Allegedly Involved in Setting up Illegal Bitcoin Mining Farms in Paraguay

June 30, 2024 Bitcoin.com

ANDE

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

June 16, 2024 Bitcoin.com

Argentina

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 Bitcoin.com

Bitcoin

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 […]

Paraguay

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