A documentary made by an international chain from the United States showed the operation of a Bitcoin farm located on a 5,000-meter plot of land, in the Paraguayan city of Villarrica, Department of Guairá.
The area has a special energy rate . North American television titled what is happening there as “ Bitcoin mining fever in Paraguay ”. The work shows how one of the digital currency megafactories operates.
According to data reported by the Última Hora portal, Villarrica is fertile land for the production of cryptocurrencies . The energy supplier company in that area, Clyfsa, has a differentiated rate from the rest of Paraguay , thanks to a subsidy.
Juan José Benítez Rickmann, director of mining for Bitcoin Digital Assets , whose headquarters are in Asunción, explained to Voice of America that the production of Bitcoin in Paraguay is much cheaper than in other countries.
The representative of the cryptocurrency farm commented that a bitcoin is produced at 13,000 dollars, while in the United States the production costs 30,000. He claimed that this is due to cheap labor and low energy costs.
domestic bitcoin production
Another of the notes that arise from the work carried out by the television producer is linked to the reality of many countries in Latin America : looking for an extra income of money. The engineer Emanuel Friedmann assured that in Villarrica thousands of families are dedicated to the domestic production of cryptocurrencies.
“Because there is cheap energy in the country, a new way to invest and earn money was found .”
In relation to the mega cryptocurrency plant, he explained that there are about 4,000 machines that work in the place producing income. Friedmann narrated that the energy used only in the cryptocurrency factory farm is equivalent to the energy consumption that could power about 20,000 homes.
The energy deficit generated by cryptocurrencies arouses some concern and is questioned by various sectors. Likewise, complaints about low voltage in the Villarrica area are increasing.
The Voice of America ( VOA ) is the largest international multimedia news organization in the United States, providing content in more than 45 languages to global audiences with no or limited access to a free press.
Project vetoed
Last August, the Executive Power completely vetoed a bill that regulates the mining, commercialization, intermediation, exchange, transfer and administration of cryptocurrencies or instruments that allow control over crypto assets.
The rejection of the Executive Branch is based on the position of the National Electricity Administration (ANDE). The entity maintains that the mining activity is characterized by its high consumption of electrical energy, with an intensive use of capital. But to this is added the low use of labor, which is why it is appropriate to characterize it as electro-intensive consumption and not as industrial consumption.
On September 27, the Paraguayan Senate rejected by nominal vote the decision of the President of the Republic to veto the bill on the regulation of cryptocurrencies and Bitcoin mining .
The National Electricity Administration ( ANDE ) stopped granting electricity supply to this type of activity as of this year due to the fact that a millionaire loss was generated during 2021 .
ANDE, authorized by the Executive Power, issued Resolution No. 46984 last Friday, by which it created the special intensive consumption group, supplied at very high voltage (220 kV), high voltage (66 kV) and medium voltage (23 kV), with its "regulatory and temporary" measures, as well as with the corresponding rate for power (kWmonths) and energy (kWh).
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