The bitcoin mining industry in Paraguay is reacting to the involvement of the National Electricity Authority (ANDE) in the closure of several illegal bitcoin mining farms. Bruno Vaccotti, head of public affairs at bitcoin mining company Penguin, has revealed the existence of "vulture contracts" that have slowed the growth of bitcoin mining operations in Paraguay.
Vaccotti said Penguin pays $850,000 a month for electricity, almost 50 percent of the $2 million ANDE claims it lost to illegal mining activities.
Vulture contracts "are agreements between ANDE and other undisclosed third parties for bitcoin mining that affected the power supply to new farms, causing losses to the state. Vaccotti claims that these contracts involving large amounts of energy are often signed by foreign investors who go abroad and use them to speculate.
Penguin Head of Public Affairs: Vulture Contracts "Impact Bitcoin Mining Development in Paraguay
2024-06-25 03:53:29
Paraguay bitcoin mining industry country electricity authority ande participationdesk3cryptocurrencydesktopCrypto News
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
Previous article：
Penguin公共事务负责人：秃鹫合同 "影响巴拉圭比特币矿业发展Next article：
EMC Labs：中线调整或已结束，BTC于58400美元开启反弹
