Paraguay to Become Top Bitcoin Mining Hub in Latam According to Insight Group
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Loading... - Agbayani Tala
- 27 Mar 2023
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Paraguay, a country not especially known for its crypto affiliations, is now being considered one of the most attractive destinations in Latam for bitcoin miners. According to mining insight company Hashrate Index, the country presents a series of benefits that could help it become one of the biggest cryptocurrency hubs in the region.
The first advantage that Paraguay has over other countries in the area, and what made it an attractive location for miners after the Chinese miner exodus, is the abundance of clean, cheap hydroelectric power, that can be used to build large bitcoin mining operations. Most of this power comes from the Itaipu Dam, with Paraguayans reportedly consuming only about 10% of the power produced.
While most of this energy gets exported to neighboring countries, it can be sourced to power big mining operations in the future, according to the group.
Some Disadvantages
Hashrate Index says there are currently two different disadvantages of choosing Paraguay as a destination for establishing a bitcoin mining operation. One is the climate in the summer, which can reach high temperatures and high humidity, affecting the longevity of air-cooled mining rigs. Read More…
