Green Bitcoin Mining Centers To Be Launched In Paraguay By Bitfury (coinbeat.com)
Mining giant Bitfury and Commons Foundation, a South Korean R&D firm have announced that they are launching a network of new bitcoin mining operations in the South American nation of Paraguay.
Announced last week Thursday, Bitfury stated that a number of new mining centres are to be created using their BlockBox AC bitcoin mining devices.
Notably, the mining rigs are to be powered by two major hydroelectric powers plants namely Itaipu Dam and Yacyreta Dam.
The government of Paraguay backs this initiative for the sole purpose of establishing the region as the largest crypto mining centre in the world.
Back in November 2018, the firm raised an impressive $80 million in funding thanks in part to help from a venture capital firm known as Korelya Capital in collaboration with Mike Novogratz’s Galaxy Digital, Macquarie Capital and Dentsu Inc. Could Bitfury’s plans lead to other mining firms seeking out green energy solutions for their operations? Let us know what you think by leaving a comment below.
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Related story: Bitcoin’s Mining Difficulty Resumes Downtrend (cryptoglobe.com)
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