Jump to content
  • Sky
  • Blueberry
  • Slate
  • Blackcurrant
  • Watermelon
  • Strawberry
  • Orange
  • Banana
  • Apple
  • Emerald
  • Chocolate
  • Charcoal

Welcome to your community. We would like you to take a minute and read our newcomers guide.

Sign in to follow this  
cryptofreak

Bitfury set to launch Bitcoin Mining facilities in Paraguay

Recommended Posts

As revealed by a press release published in January, Blockchain tech firm, Bitfury is planning to launch mining centers in Paraguay.

Bitfury formed a partnership with Commons Foundation, a peer-to-peer knowledge commons research firm based in South Korea to launch some transaction processing sites which will utilize Bitfury’s BlockBox AC mobile data centers in Paraguay.

The press release also reported that, the project holds just a fraction of a greater initiative from Commons referred to as “Golden Goose” whose focus is to expand cryptocurrency and blockchain innovation in Spanish-speaking countries.

 

The mining facilities in Paraguay will take around 200,000 square meters and electricity will be provided by a 500MW power station. Bitfury also revealed that the energy used by the mining centers will be renewable as Paraguay is well known to house power plant Itaipu, the largest operational hydroelectric energy producer in the world.

Furthermore, Commons Foundation has revealed its plans to open a global crypto exchange in Paraguay later in the year and provide a Golden Goose token for participants. The crypto exchange will be making use of the Crystal analytics platform of Bitfury in order to adhere to the anti-Money Laundering (AML) and the Know Your Customer (KYC) policies. 

Both parties, including the Paraguayan officials said they strongly believe the new initiatives will attract new investors to the country and play a vital role in building a blockchain ecosystem in Latin America.

 

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×