Canadian miner powremines secured a 100 MW contract in Paraguay, one of a handful. egreechee reports
secured a contract for 100 megawatts of power in Paraguay, one of a handful that have been granted by the country's national utility , according to a press release sent to CoinDesk on Wednesday.
The contract comes with a five-year fixed rate agreement, although Pow.re did not specify the price of the electricity. The company hadn't responded to a CoinDesk request for comment as of publication time. Securing low-cost power is paramount to bitcoin miners, because it is their largest operating expenditure.
Paraguay, in the center of South America, has abundant cheap hydroelectricity from one of the largest dams in the world, Itaipu, which it shares with Brazil. However, as crypto miners have flocked to the country in search of cheap power, coflict with ANDE has been brewing. The utility claims the industry is taking advantage of the resource without greatly contributing to the local economy. Another key issue is the absence of infrastructure to make the electricity available for use.
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