More companies looking to Paraguay as Bitcoin mining destination

Paraguay has for several years been referred to as an ideal country for Bitcoin mining, mainly due to its abundance of energy from renewable sources and their low cost. In fact, the government in 2018 became itself a promoter of this possibility by backing the creation of a crypto mining center.

RIO DE JANEIRO, BRAZIL - Paraguay's dream of becoming a mining center now seems to have become a reality. Bitcoin.com reports that Paraguay is one of the destinations under consideration by several companies to establish their bitcoin mining operations.

Last week, Chinese company Future Fintech announced formal plans to build a bitcoin mining facility in the country, stating that it was determining the best location for its next farm.

In a statement, the company's CEO Shanchun Huang said he would review the facts to determine the route the company would take to make this a reality.

"We plan . . .

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