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Paraguay to Become Home to World's Largest Mining Farm

Published 11/26/2018, 01:27 PM
Updated 11/27/2018, 08:22 AM
 Paraguay to Become Home to World's Largest Mining Farm

Paraguay to Become Home to World's Largest Mining Farm

This month Paraguay’s government and "Commons Foundation," a South Korean-based firm, signed an agreement to construct a bitcoin mining farm that is designed to become the largest crypto mining center in the world in terms of the area it will cover - about 50,000 square meters.

The new project, called the "Golden Goose", also includes the establishment in the country of a global crypto exchange, according to the official press release.

The center will be built in Ciudad del Este, a big city located nearby the Itaipu Hydroelectric Power Plant, one of the world's largest clean energy plants, which will ensure a continuous supply of cheap energy.

The news might not come as a surprise given the fact Paraguay is known for its vast electricity surplus resulting from the country's vast resources of renewable energy. National hydroelectric dams produce so much power that Paraguay can consume only 20 percent of it.

Accordingly, the Paraguayan government decided to combine its cheap and abundant supplies of clean energy wi...


This article appeared first on Cryptovest

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