Paraguayan authorities seized 2,738 crypto mining units with unmetered power connections stealing $146,000 in power monthly.
Property containing 2,738 crypto mining units was seized in Salto del Guairá, Paraguay, after the National Electricity Administration detected an unmetered power connection in the area. There is a bill before the country’s senate to ban crypto mining and other crypto-related activities pending comprehensive legislation and assurances from the national power supplier.
ANDE used artificial intelligence and power distribution analysis to zero in on the electricity theft, which it estimated was worth 1.1 billion guarani per month. Five transformers were also seized on the property. Four criminal charges may be brought against the operators of the illegal operation.
Paraguay was considered a crypto mining haven due to its abundant hydropower supply from the Itaipu Dam power plant on the Paraná River. The country lacked a legal base for crypto operations, however. Regulatory legislation, specifically objecting to the provisions on mining, which incentivized the activity. Even with the country’s power resources, crypto mining could take away from rapidly developing national industries, he said.
The ban would be in force for 180 days or until comprehensive legislation was passed and ANDE could guarantee a sufficient power supply. The bill mentions the rampant illegal mining occurring in the country. The temporary ban bill
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