BULLISH 📈 : Paraguay launches Bitcoin mining using 30,000 seized machines
Paraguay’s state-owned electricity monopoly, Administración Nacional de Electricidad (ANDE), has partnered with Morphware to initiate a government-backed Bitcoin mining program using confiscated mining machines and surplus hydroelectric power from the Itaipú dam.
- ANDE will control the mining operations, leveraging seized rigs and utilizing hydroelectric energy instead of exporting it at low prices.
- Morphware will serve as a technical advisor due to ANDE's lack of Bitcoin mining experience.
- The pilot phase will involve approximately 1,500 seized miners in existing utility buildings, which will be converted into mining facilities.
This initiative follows nationwide raids against illegal mining activities. In Salto del Guairá, ANDE confiscated 2,738 mining rigs after identifying unmetered high-load connections resulting in significant power theft.
Paraguay joins other states like El Salvador and Bhutan in integrating renewable energy sources into Bitcoin mining strategies. This approach allows countries to harness domestic energy resources and infrastructure for economic benefits, rather than relying solely on private miners.
