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 collected up to $ 500,000 in bribes monthly and called for the resignation or interrogation of ANDE’s President Felix Sosa on this matter. Senator …
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 invest over $ 400 million in the country due to the lack of clarity in the area. …
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 farms across the country as the prosecutor’s office is carrying out this investigation with ANDE’s cooperation. Seven ANDE Engineers Involved in […]
Bruno Vaccotti, Head of Public Affairs of Penguin, a bitcoin mining company, has referred to the existence of what he called “vulture contracts,” and its effects on developing mining operations in Paraguay. Vaccotti stated that large amounts of energy have been assigned through these contracts that have not been taken advantage of and are blocked […]
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 all its customers, and Worldcoin decided to establish a hub in Argentina. Paraguayan Minister Unveils Future Economic Strategy Centered […]