Paraguay Says It Prefers to Sell Electricity to Bitcoin Miners Rather Than to Brazil

Written by Valdemar Medeiros

Published on 13/06/2024 at 08:10

Foto: Mineradores de Bitcoin/Midjourney

Seja o primeiro a reagir!

Brazil Has Already Shown Interest in Buying Excess Energy, But Paraguay Prefers to Sell Energy to Bitcoin Miners.

The Paraguayan government recently announced its plans to sell its surplus electricity, prioritizing sales to Bitcoin miners, even though Brazil has already shown interest. According to Javier Giménez, Minister of Industry and Trade of Paraguay, Brazil is entirely focused on leveraging Paraguay’s excess energy only in a strategic and profitable manner, and therefore, Paraguay prefers to sell energy to Bitcoin miners.

Why Does Paraguay Prefer to Sell Energy to Bitcoin Miners Than to Brazil?

According to Minister Javier Giménez, it is much more profitable for Paraguay to sell its excess energy to Bitcoin miners, as they pay up to 3 times more than the amount that could be paid by Brazil. However, the proposal put forward by Brazil emphasizes that the price paid for the energy generated at the binational hydroelectric plant should be much cheaper.

The Federal Government of Brazil is seeking to review the agreement made at the Itaipu Hydroelectric Plant, which was built through a binational agreement between Paraguay and Brazil in 1973, in the Foz do Iguaçu region. The agreement itself provides for a review of all terms after 50 years from the signing.

ARTICLE CONTINUES BELOW

Giménez Gives More Explanations About the Sale of Excess Energy to Bitcoin Miners

The Itaipu plant is strategic for both Brazil and Paraguay, as the plant has twenty generating units and 14,000 MW of installed capacity. Thus, the binational Itaipu plant provides about 8.7% of the energy consumed in Brazil and 86.4% in Paraguay. Nonetheless, Paraguay prefers to sell energy to Bitcoin miners rather than to Brazil.

Giménez highlighted during a conversation at the Paraguay-Brazil Chamber of Commerce that his country has a large amount of excess energy and that to make complete use of this energy, it would be necessary to build more than 10,000 new industries, something that is not easy to accomplish in a short time.

“We are racing to attract industries, but how good would it be if, however, we did the smart thing and gave the energy to the crypto miners, where there is demand, so they can use it in the meantime”, said Javier Giménez.

Bitcoin Mining is Common in Paraguay

Minister Javier Giménez reported that Bitcoin mining farms are the only profitable industry in Paraguay. According to Giménez, many of these farms are responsible for safeguarding the country’s electrical system by shutting down their machines during times of local demand peaks, as requested by the National Electricity Administration, ANDE.

Currently, Paraguay has more than 50 Bitcoin miners operating legally, paying their electricity contracts to ANDE and regulated by it. However, Paraguay also faces challenges with illegal Bitcoin mining farms.

Since the beginning of 2024, the National Electricity Administration (ANDE), together with the Public Prosecutor’s Office and other institutions, has intensified the crackdown on an illegal mining farm.

One operation revealed that Bitcoin miners had a clandestine farm near the ANDE headquarters, where about 3,000 Bitcoin mining equipment were seized by the police. Even with the legalization of Bitcoin mining in the country, illegal activity has been spreading, which necessitates a more aggressive regulatory framework for the country.

4 Comentários

Mais recente

Mais antigos Mais votado

Feedbacks

Visualizar todos comentários

Pedro T.

#12960

14/06/2024 14:48

Só tivemos péssimos presidentes até hoje. Muita roubalheira, incompetência, corrupção. A usina de Itaipu é um claro exemplo de sociedade. É só rever o acordo entre Brasil e Paraguai na época da construção. Sinônimo de burrice.

Responder

Agorismo bitcoin

#12712

13/06/2024 18:56

Bitcoin fixes this!
Paraguay e Argentina tem um futuro brilhante bem diferente do bostil

-6

Responder

Geovane

#12693

13/06/2024 18:01

Para a usina e pronto, quero ver eles mudarem de opinião

-6

Responder

Paraguay Says It Prefers to Sell Electricity to Bitcoin Miners Rather Than to Brazil

Brazil Has Already Shown Interest in Buying Excess Energy, But Paraguay Prefers to Sell Energy to Bitcoin Miners.

Why Does Paraguay Prefer to Sell Energy to Bitcoin Miners Than to Brazil?

Giménez Gives More Explanations About the Sale of Excess Energy to Bitcoin Miners

Bitcoin Mining is Common in Paraguay

While in Brazil a 10-story building takes 2 years to complete, in China a company stacks pre-fabricated modules and raises the entire building in just 28 hours and 45 minutes.

BRICS is preparing a payment system inspired by the Brazilian PIX that will allow direct transactions between countries using national digital currencies without relying on the dollar or Western banks as intermediaries.

The oldest tree in the world, alive since before the birth of Jesus Christ, is cut down in a scientific study and the case changes environmental preservation rules.

Ethiopia has banned gasoline and diesel cars, placed over a hundred silent electric buses on the streets of Addis Ababa, and now aims for half a million electric vehicles by 2030, all powered by Africa’s largest dam and a courage that few countries have shown.

After ten days orbiting the Moon, science confirms that the astronauts of the Artemis II mission return with altered bodies.

On the coast of China, fishermen received an official reward after finding 10 foreign underwater devices capable of “stealing secrets” in just two years, showing that the silent war for the seabed has already reached the nets of those who rely on fishing.

While the USA goes to the Moon in search of energy, China silently explores an abundant stone on Earth capable of generating energy for the next 60,000 years.

YouTuber builds a homemade nuclear battery with 5 tritium tubes, reaching 2.9 volts at night and demonstrates how a tiny, sealed system without sunlight can generate energy on its own for up to 12 years.

At 71 years old, Chitãozinho transforms Fazenda Galopeira into a rural empire of 990 hectares in Goiás, with 10,000 elite Nelore cattle, a name inherited from the duo’s first album, and a debut in soy alongside a multinational present in 130 countries.

While Brazil sets records in solar and wind energy, the electrical system shuts down power plants every day because the transmission lines can’t handle it — and the losses have already exceeded R$ 5 billion in three years.

With the end of the 6×1 scale, less audience, the rise of online shopping, the impact of remote work, and a decline in cinema, Brazilian shopping malls remain giants on the outside but are in crisis on the inside.

Cantor creates a mini city within the farm in the Northeast with streets, colorful houses, shops, a church, and scenes that resemble the countryside of decades past.

Paraguay Says It Prefers to Sell Electricity to Bitcoin Miners Rather Than to Brazil

Brazil Has Already Shown Interest in Buying Excess Energy, But Paraguay Prefers to Sell Energy to Bitcoin Miners.

Why Does Paraguay Prefer to Sell Energy to Bitcoin Miners Than to Brazil?

Giménez Gives More Explanations About the Sale of Excess Energy to Bitcoin Miners

Bitcoin Mining is Common in Paraguay

While in Brazil a 10-story building takes 2 years to complete, in China a company stacks pre-fabricated modules and raises the entire building in just 28 hours and 45 minutes.

BRICS is preparing a payment system inspired by the Brazilian PIX that will allow direct transactions between countries using national digital currencies without relying on the dollar or Western banks as intermediaries.

The oldest tree in the world, alive since before the birth of Jesus Christ, is cut down in a scientific study and the case changes environmental preservation rules.

Ethiopia has banned gasoline and diesel cars, placed over a hundred silent electric buses on the streets of Addis Ababa, and now aims for half a million electric vehicles by 2030, all powered by Africa’s largest dam and a courage that few countries have shown.

After ten days orbiting the Moon, science confirms that the astronauts of the Artemis II mission return with altered bodies.

On the coast of China, fishermen received an official reward after finding 10 foreign underwater devices capable of “stealing secrets” in just two years, showing that the silent war for the seabed has already reached the nets of those who rely on fishing.

While the USA goes to the Moon in search of energy, China silently explores an abundant stone on Earth capable of generating energy for the next 60,000 years.

Europe tightens tobacco regulations and raises global alert: how Brazil can learn from new control policies, sales restrictions, and focus on public health.

Novonor begins exit from Braskem with the sale of control to Shine I, and the operation impacts the financial market.

In Hanover, Lula celebrates the EU-Mercosur agreement that comes into effect on May 1st, but criticizes “false statements” about agriculture and demands less barriers from Europe for Brazilian biofuels.

Japanese destroyer crosses the Taiwan Strait, and China did not like this at all and reacted.

Suape Port is receiving R$ 15.8 billion to become the largest green hydrogen hub in Latin America — and a partnership with China promises an additional R$ 8 billion.

YouTuber builds a homemade nuclear battery with 5 tritium tubes, reaching 2.9 volts at night and demonstrates how a tiny, sealed system without sunlight can generate energy on its own for up to 12 years.

At 71 years old, Chitãozinho transforms Fazenda Galopeira into a rural empire of 990 hectares in Goiás, with 10,000 elite Nelore cattle, a name inherited from the duo’s first album, and a debut in soy alongside a multinational present in 130 countries.

While Brazil sets records in solar and wind energy, the electrical system shuts down power plants every day because the transmission lines can’t handle it — and the losses have already exceeded R$ 5 billion in three years.

With the end of the 6×1 scale, less audience, the rise of online shopping, the impact of remote work, and a decline in cinema, Brazilian shopping malls remain giants on the outside but are in crisis on the inside.

Cantor creates a mini city within the farm in the Northeast with streets, colorful houses, shops, a church, and scenes that resemble the countryside of decades past.