Paraguay has previously been considered by a lot of crypto miners as a country where they could mine crypto using cheap electricity.
However, this is about to change, as a bill to regulate mining was rejected by parliament last week. As a result, the Paraguayan authorities have refused to reduce energy prices for individuals and enterprises that mine crypto.
Bitmain, the largest hardware manufacturer, said last month that Latin America was attracting companies with cheap electricity. According to the company, in the coming years, we will see countries like Paraguay and Argentina start building digital currency mining facilities.
According to the Business Development Director of Bitmain, his company can also build a plant for the production of miners in a Latin American country.