1 / 2 Relevant items tagged with #Paraguay
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Holy Bitcoin: Paraguayan Power Company Detects Illegal Crypto Mining Operation in a Church
[Sep 3, 2024 7:30 AM] The 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…
Latam Insights: Bukele Used Bitcoin as a Rebranding Tool; Bitcoin Mining Companies Stop Operating in Paraguay After Power Fee Hikes
[Sep 2, 2024 5:30 AM] Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news from the past week. In this issue: Salvadoran President Nayib Bukele acknowledges that bitcoin rebranded the country, some bitcoin mining…
Report: Paraguayan Bitcoin Mining Industry Provides Fewer Than 400 Jobs
[Aug 29, 2024 10:30 PM] A 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…
9 Bitcoin Mining Companies Suspend Activities After Power Fee Hikes in Paraguay
[Aug 26, 2024 10:30 PM] Nine 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…
Latam Insights: El Salvador Offers Bitcoin Instruction to 80,000 Public Servants; Mercado Libre Launches Stablecoin
[Aug 26, 2024 1:30 AM] Welcome 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…
National Power Administration of Paraguay Seizes 693 Miners in Illegal Bitcoin Mining Operation
[Aug 23, 2024 9:30 PM] The 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…
Latam Insights: El Salvador to Receive $1.61 Billion for Economic Overhaul Plan; Venezuelan Government Blocks Binance
[Aug 18, 2024 9:30 PM] Welcome 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…
Paraguayan Justice System Achieves Conviction for Power Theft Crime Linked to Cryptocurrency Mining
[Aug 16, 2024 6:30 AM] The Paraguayan justice system has reached a milestone by achieving its second conviction related to a power theft crime linked to cryptocurrency mining. Carlos Raul Rojas, the owner of a dwelling where over 1,000 cryptocurrency miners operated, was…
Paraguay’s Power Chief: No Cryptocurrency Mining Company Has Left Yet
[Aug 5, 2024 3:30 AM] Felix 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…
Latam Insights: US Department of State Acknowledges Bitcoin Helped Revive El Salvador’s Tourism, Paraguayan Government Dismisses Power Fee Hike Concerns
[Jul 29, 2024 2:30 AM] Welcome 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…
Hive Announces Plans to Move Into Paraguay Amidst Bitcoin Mining Power Hike Turmoil
[Jul 25, 2024 10:30 PM] Hive Digital, a public green bitcoin mining company, announced plans to build a 100MW site in Paraguay, having connected with President Santiago Peña and his cabinet. Hive stated that stability in government fiscal policies, such as energy pricing…
Paraguay’s President Dismisses Complaints About Power Fee Hikes From Bitcoin Mining Companies, Asserts High Interest Remains
[Jul 23, 2024 8:35 PM] Santiago 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…
Hive Digital to expand operations to Paraguay for the first time
[Jul 22, 2024 7:20 PM] Bitcoin miner Hive Digital has plans to build a 100-megawatt mining facility in Paraguay powered by the nation’s Itaipu hydroelectric dam.
Excessive Greed: More Bitcoin Mining Companies Are Abandoning Paraguay for Brazil
[Jul 22, 2024 5:20 AM] 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…
Paraguayan Senate Passes Law Imposing up to 10 Years of Jail Time on Crypto Miners for Electricity Theft
[Jul 12, 2024 1:10 PM] 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…
Rising Power Fees Begin to Drive Bitcoin Mining Companies From Paraguay to Argentina
[Jul 8, 2024 5:20 AM] The recent increase in power fees enacted by the National Power Administration of Paraguay (ANDE) has bitcoin mining companies seeking alternatives in neighboring countries, such as Argentina and Brazil. A joint venture between Argentine and…
Latam Insights Encore: Paraguay Anti-Bitcoin Mining Stance Is a Net Negative for the Nation’s Development
[Jul 7, 2024 9:12 PM] Welcome To Latam Insights Encore, a deep view of Latin America’s most relevant economic and cryptocurrency-based news last week. In this edition, we examine the possible outcomes of the war that Paraguay is waging on illegal (and now legal)…
Latam Insights: Paraguay Raises Bitcoin Mining Power Fees, Bolivia Praises Stablecoins as Dollar Proxy
[Jul 7, 2024 3:15 PM] 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…
Corruption in Paraguay: Senator States Illegal Bitcoin Mining Farms Pay up to $500,000 to Operate Underground
[Jul 5, 2024 8:30 PM] 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…
Paraguay Raises Bitcoin Mining Power Fees by 14%, Companies Mull Stopping Operations
[Jul 2, 2024 2:40 PM] 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…
Latam Insights: Argentina Reaches Zero Inflation, Central Bank of Bolivia Unbans Bitcoin
[Jul 1, 2024 9:34 PM] 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…
Bitfarms mined 21% more Bitcoin in June amid Riot takeover attempts
[Jul 1, 2024 5:49 PM] Bitfarms increased its online hashrate to 10.4 exahashes per second in June, marking a 39% month-on-month increase.
National Power Administration ANDE Employees Allegedly Involved in Setting up Illegal Bitcoin Mining Farms in Paraguay
[Jun 30, 2024 3:30 PM] 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…
Insider: ‘Vulture Contracts’ Affecting Bitcoin Mining Development in Paraguay
Latam Insights: Paraguay Unveils Bitcoin Mining Centric Development Strategy, Itau Unibanco Rolls Crypto Trading for All Customers
[Jun 16, 2024 6:45 AM] 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…
Paraguayan Minister Unveils Future Economic Strategy Centered on Bitcoin Mining for Industrial Transition
[Jun 10, 2024 5:20 AM] 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…
Latam Insights: Paraguay Shuts Down Largest Illegal Bitcoin Mining Farm to Date, Argentina and El Salvador Discuss Bitcoin
[Jun 2, 2024 7:31 PM] 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…
Paraguay seizes 2,738 ASICs as power theft crackdown continues
[May 31, 2024 2:05 PM] Power-intensive crypto mining is controversial in Paraguay, where an attempt at crypto regulation was vetoed because of it.
Paraguayan Authorities Shut Down 2,700 Miners in Largest Anti-Illegal Bitcoin Mining Intervention to Date
[May 31, 2024 6:04 AM] Paraguayan authorities detected and shut down an illegal bitcoin mining farm that had over 2,700 miners connected directly to the country’s power grid. The operation, carried out in the city of Saltos de Guaira and situated near a national power…