Miners in Paraguay will not be reduced electricity rates
The hopes of many miners that Paraguay will be a country with cheap electricity are not justified. Rates for cryptocurrency mining will not be lowered, because the authorities have not passed the bill.
At a summit in Mexico, which was organized in November by Bitmain, it was suggested that Latin America could become an attractive location for miners because of cheap electricity. According to Eiding Ona, director of the largest equipment manufacturer, construction of large cryptocurrency mining facilities could begin in Paraguay and Argentina:
Bitmain doesn’t rule out the possibility that mining facilities could also open in one of the Latin American countries.
Iding He also called on the authorities of the continent not to put pressure on the mining industry and to form a favorable environment for its development.
However, on the part of Paraguay, there is an opposite trend. Earlier, at the initiative of local energy companies, the rates for cryptocurrency mining were increased by 60%. Industry representatives tried to appeal this decision, but the country’s parliament refused to take their side.
